First Community Trust NA Reduces Position in Chevron Co. (NYSE:CVX)

First Community Trust NA trimmed its position in shares of Chevron Co. (NYSE:CVXGet Rating) by 6.8% during the 2nd quarter, Holdings Channel reports. The firm owned 7,293 shares of the oil and gas company’s stock after selling 534 shares during the period. Chevron comprises 1.2% of First Community Trust NA’s investment portfolio, making the stock its 19th biggest position. First Community Trust NA’s holdings in Chevron were worth $1,056,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Pure Financial Advisors LLC raised its position in shares of Chevron by 19.1% during the 2nd quarter. Pure Financial Advisors LLC now owns 5,703 shares of the oil and gas company’s stock valued at $826,000 after purchasing an additional 915 shares during the period. My Personal CFO LLC bought a new stake in shares of Chevron during the 2nd quarter valued at $4,741,000. Wealth Alliance Advisory Group LLC increased its holdings in Chevron by 4.3% in the 2nd quarter. Wealth Alliance Advisory Group LLC now owns 18,425 shares of the oil and gas company’s stock valued at $2,668,000 after acquiring an additional 766 shares during the last quarter. City Holding Co. increased its holdings in Chevron by 1.6% in the 2nd quarter. City Holding Co. now owns 37,347 shares of the oil and gas company’s stock valued at $5,407,000 after acquiring an additional 588 shares during the last quarter. Finally, Stolper Co increased its holdings in Chevron by 1.4% in the 2nd quarter. Stolper Co now owns 43,902 shares of the oil and gas company’s stock valued at $6,356,000 after acquiring an additional 600 shares during the last quarter. 69.30% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CVX. Truist Financial reduced their price target on shares of Chevron from $170.00 to $166.00 and set a “hold” rating on the stock in a report on Tuesday, July 19th. Morgan Stanley lifted their price target on shares of Chevron from $187.00 to $193.00 and gave the company an “equal weight” rating in a report on Tuesday, September 6th. Piper Sandler lifted their price target on shares of Chevron from $189.00 to $190.00 and gave the company an “overweight” rating in a report on Monday, September 12th. Wells Fargo & Company lifted their price target on shares of Chevron from $181.00 to $185.00 and gave the company an “overweight” rating in a report on Monday, August 1st. Finally, Societe Generale upgraded shares of Chevron from a “hold” rating to a “buy” rating in a report on Thursday, August 4th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $169.20.

Chevron Stock Down 2.6 %

Shares of NYSE CVX opened at $156.45 on Monday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.31 and a quick ratio of 1.11. The company has a market cap of $307.39 billion, a P/E ratio of 10.44, a PEG ratio of 0.60 and a beta of 1.15. Chevron Co. has a 1 year low of $93.31 and a 1 year high of $182.40. The firm has a 50-day simple moving average of $154.36 and a two-hundred day simple moving average of $160.41.

Chevron (NYSE:CVXGet Rating) last announced its quarterly earnings data on Friday, July 29th. The oil and gas company reported $5.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.66 by $1.16. The business had revenue of $68.76 billion during the quarter, compared to the consensus estimate of $57.69 billion. Chevron had a net margin of 13.45% and a return on equity of 19.73%. The firm’s quarterly revenue was up 82.9% compared to the same quarter last year. During the same quarter last year, the firm earned $1.71 earnings per share. Research analysts anticipate that Chevron Co. will post 18.4 earnings per share for the current year.

Chevron Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 12th. Stockholders of record on Friday, August 19th were given a dividend of $1.42 per share. This represents a $5.68 dividend on an annualized basis and a dividend yield of 3.63%. The ex-dividend date of this dividend was Thursday, August 18th. Chevron’s dividend payout ratio (DPR) is presently 37.89%.

Insider Transactions at Chevron

In other news, CFO Pierre R. Breber sold 22,500 shares of the firm’s stock in a transaction that occurred on Thursday, August 11th. The shares were sold at an average price of $158.11, for a total transaction of $3,557,475.00. Following the transaction, the chief financial officer now directly owns 7 shares of the company’s stock, valued at $1,106.77. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, EVP James William Johnson sold 85,300 shares of Chevron stock in a transaction that occurred on Thursday, August 25th. The shares were sold at an average price of $164.01, for a total transaction of $13,990,053.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Pierre R. Breber sold 22,500 shares of Chevron stock in a transaction that occurred on Thursday, August 11th. The shares were sold at an average price of $158.11, for a total transaction of $3,557,475.00. Following the transaction, the chief financial officer now directly owns 7 shares in the company, valued at $1,106.77. The disclosure for this sale can be found here. Over the last three months, insiders have sold 141,732 shares of company stock valued at $23,024,499. 0.32% of the stock is currently owned by company insiders.

Chevron Profile

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Chevron Corporation, through its subsidiaries, engages in integrated energy and chemicals operations worldwide. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, production, and transportation of crude oil and natural gas; processing, liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and transportation, storage, and marketing of natural gas, as well as operates a gas-to-liquids plant.

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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