Equitable Trust Co. Sells 107 Shares of Chevron Corporation $CVX

Equitable Trust Co. cut its holdings in Chevron Corporation (NYSE:CVX) by 0.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 35,923 shares of the oil and gas company’s stock after selling 107 shares during the period. Equitable Trust Co.’s holdings in Chevron were worth $5,144,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of CVX. Harvest Fund Management Co. Ltd raised its holdings in Chevron by 420.7% during the 1st quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company’s stock valued at $25,000 after buying an additional 122 shares during the last quarter. Elequin Capital LP bought a new stake in Chevron in the 1st quarter worth $31,000. Cloud Capital Management LLC purchased a new position in shares of Chevron in the first quarter valued at about $39,000. Investment Management Corp VA ADV boosted its holdings in shares of Chevron by 171.3% during the first quarter. Investment Management Corp VA ADV now owns 236 shares of the oil and gas company’s stock worth $39,000 after purchasing an additional 149 shares during the period. Finally, GFG Capital LLC bought a new stake in shares of Chevron in the second quarter worth about $42,000. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Chevron

In other Chevron news, Director John B. Hess sold 375,000 shares of the business’s stock in a transaction dated Friday, August 22nd. The stock was 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 owned 1,403,045 shares of the company’s stock, valued at approximately $222,102,023.50. The trade was a 21.09% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Alana K. Knowles sold 3,978 shares of the business’s stock in a transaction dated 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. This trade represents a 77.11% decrease in their position. The disclosure for this sale can be found here. 0.20% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research analysts have commented on CVX shares. Bank of America upped their price target on Chevron from $170.00 to $185.00 and gave the company a “buy” rating in a research report on Wednesday, September 10th. Piper Sandler upped their target price on Chevron from $164.00 to $168.00 and gave the company an “overweight” rating in a report on Monday, August 18th. Morgan Stanley started coverage on Chevron in a research note on Monday, August 4th. They issued an “overweight” rating and a $174.00 price target for the company. Jefferies Financial Group reiterated a “buy” rating on shares of Chevron in a report on Friday, July 18th. Finally, UBS Group boosted their target price on shares of Chevron from $186.00 to $197.00 and gave the company a “buy” rating in a report on Wednesday, August 20th. Eleven investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, Chevron has an average rating of “Hold” and a consensus target price of $165.40.

Chevron Stock Performance

Shares of Chevron stock opened at $151.86 on Tuesday. The stock has a market cap of $262.42 billion, a price-to-earnings ratio of 19.54, a PEG ratio of 1.93 and a beta of 0.84. The firm’s 50-day moving average is $156.12 and its 200 day moving average is $148.31. Chevron Corporation has a 1 year low of $132.04 and a 1 year high of $168.96. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.00 and a quick ratio of 0.74.

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

Chevron Announces Dividend

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

About Chevron

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.