Coastline Trust Co Sells 255 Shares of Chevron Corporation $CVX

Coastline Trust Co reduced its stake in Chevron Corporation (NYSE:CVX) by 1.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 13,502 shares of the oil and gas company’s stock after selling 255 shares during the quarter. Coastline Trust Co’s holdings in Chevron were worth $1,933,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of CVX. Spartan Planning & Wealth Management bought a new position in Chevron in the 1st quarter valued at about $484,000. Rothschild Investment LLC grew its position in shares of Chevron by 0.5% during the 1st quarter. Rothschild Investment LLC now owns 135,143 shares of the oil and gas company’s stock worth $22,608,000 after purchasing an additional 660 shares in the last quarter. St. Louis Financial Planners Asset Management LLC acquired a new position in shares of Chevron during the 1st quarter worth approximately $2,535,000. Burns J W & Co. Inc. NY grew its position in shares of Chevron by 3.1% during the 1st quarter. Burns J W & Co. Inc. NY now owns 79,641 shares of the oil and gas company’s stock worth $13,323,000 after purchasing an additional 2,426 shares in the last quarter. Finally, Somerset Trust Co grew its position in shares of Chevron by 2.5% during the 1st quarter. Somerset Trust Co now owns 15,120 shares of the oil and gas company’s stock worth $2,529,000 after purchasing an additional 364 shares in the last quarter. 72.42% of the stock is owned by institutional investors.

Insider Buying and Selling at Chevron

In other news, Director John B. Hess sold 375,000 shares of the firm’s stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $158.30, for a total transaction of $59,362,500.00. Following the completion of the transaction, the director owned 1,403,045 shares of the company’s stock, valued at approximately $222,102,023.50. This trade represents a 21.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Alana K. Knowles sold 3,978 shares of the firm’s stock in a transaction on Friday, August 29th. The shares were sold at an average price of $160.00, for a total transaction of $636,480.00. Following the transaction, the vice president directly owned 1,181 shares of the company’s stock, valued at $188,960. The trade was a 77.11% decrease in their position. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on CVX. Melius Research began coverage on shares of Chevron in a research report on Wednesday, August 20th. They set a “hold” rating and a $155.00 target price on the stock. UBS Group increased their target price on shares of Chevron from $186.00 to $197.00 and gave the stock a “buy” rating in a research report on Wednesday, August 20th. Evercore ISI restated an “outperform” rating and set a $180.00 target price on shares of Chevron in a research report on Thursday, July 31st. Melius assumed coverage on shares of Chevron in a research report on Wednesday, August 20th. They set a “hold” rating and a $155.00 target price on the stock. Finally, Mizuho reduced their price target on shares of Chevron from $192.00 to $191.00 and set an “outperform” rating on the stock in a research report on Monday, September 15th. Eleven analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $165.05.

Chevron Stock Performance

NYSE CVX opened at $160.13 on Friday. The firm has a market capitalization of $276.70 billion, a price-to-earnings ratio of 20.61, a P/E/G ratio of 2.01 and a beta of 0.90. The company has a current ratio of 1.00, a quick ratio of 0.74 and a debt-to-equity ratio of 0.16. The firm’s 50 day simple moving average is $156.04 and its 200 day simple moving average is $149.13. Chevron Corporation has a 1 year low of $132.04 and a 1 year high of $168.96.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, August 1st. The oil and gas company reported $1.77 EPS for the quarter, beating the consensus estimate of $1.58 by $0.19. The business had revenue of $44.82 billion during the quarter, compared to the consensus estimate of $44.59 billion. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The firm’s revenue was down 12.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.55 EPS. As a group, research analysts expect that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th were paid a dividend of $1.71 per share. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $6.84 annualized dividend and a dividend yield of 4.3%. Chevron’s dividend payout ratio (DPR) is presently 88.03%.

Chevron Company Profile

Chevron Corporation, through its subsidiaries, engages in the integrated energy and chemicals operations in the United States and internationally. 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 of liquefied natural gas; transportation of crude oil through pipelines; transportation, storage, and marketing of natural gas; and carbon capture and storage, as well as a gas-to-liquids plant.