Stock Yards Bank & Trust Co. Sells 3,189 Shares of Chevron Corporation $CVX

Stock Yards Bank & Trust Co. decreased its position in shares of Chevron Corporation (NYSE:CVX) by 1.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 282,492 shares of the oil and gas company’s stock after selling 3,189 shares during the quarter. Chevron makes up 1.4% of Stock Yards Bank & Trust Co.’s holdings, making the stock its 22nd largest holding. Stock Yards Bank & Trust Co.’s holdings in Chevron were worth $40,450,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in CVX. Kingstone Capital Partners Texas LLC boosted its position in Chevron by 652,139.5% during the second quarter. Kingstone Capital Partners Texas LLC now owns 83,714,936 shares of the oil and gas company’s stock valued at $13,214,757,000 after purchasing an additional 83,702,101 shares in the last quarter. GQG Partners LLC bought a new stake in Chevron during the first quarter valued at about $1,466,751,000. Nuveen LLC bought a new stake in Chevron during the first quarter valued at about $1,362,232,000. Charles Schwab Investment Management Inc. boosted its position in Chevron by 4.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 33,430,030 shares of the oil and gas company’s stock valued at $5,592,263,000 after purchasing an additional 1,574,464 shares in the last quarter. Finally, Canada Pension Plan Investment Board boosted its position in Chevron by 141.2% during the first quarter. Canada Pension Plan Investment Board now owns 1,891,824 shares of the oil and gas company’s stock valued at $316,483,000 after purchasing an additional 1,107,628 shares in the last quarter. Institutional investors own 72.42% of the company’s stock.

Insider Activity

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

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on CVX shares. Jefferies Financial Group reaffirmed a “buy” rating on shares of Chevron in a research report on Friday, July 18th. Raymond James Financial reaffirmed an “outperform” rating on shares of Chevron in a research report on Friday, August 1st. Melius initiated coverage on Chevron in a research report on Wednesday, August 20th. They set a “hold” rating and a $155.00 price objective on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Chevron in a report on Saturday, September 27th. Finally, Wells Fargo & Company reissued an “overweight” rating and issued a $178.00 price target on shares of Chevron in a report on Friday, August 1st. Eleven equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $165.05.

Chevron Trading Up 0.1%

Shares of NYSE:CVX opened at $153.59 on Friday. Chevron Corporation has a 52-week low of $132.04 and a 52-week high of $168.96. The stock has a market cap of $265.40 billion, a price-to-earnings ratio of 19.77, a PEG ratio of 1.98 and a beta of 0.84. The company has a quick ratio of 0.74, a current ratio of 1.00 and a debt-to-equity ratio of 0.16. The business has a 50-day moving average price of $156.23 and a 200-day moving average price of $149.09.

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

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th were paid a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 4.5%. The ex-dividend date was Tuesday, August 19th. Chevron’s dividend payout ratio (DPR) is presently 88.03%.

Chevron 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.