TIAA Trust National Association Decreases Holdings in Chevron Corporation $CVX

TIAA Trust National Association reduced its holdings in Chevron Corporation (NYSE:CVX) by 0.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 197,524 shares of the oil and gas company’s stock after selling 384 shares during the period. TIAA Trust National Association’s holdings in Chevron were worth $28,284,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Analyst IMS Investment Management Services Ltd. lifted its stake in shares of Chevron by 1.0% in the second quarter. Analyst IMS Investment Management Services Ltd. now owns 6,751 shares of the oil and gas company’s stock worth $966,000 after buying an additional 67 shares in the last quarter. Greenfield Savings Bank increased its position in Chevron by 0.6% during the second quarter. Greenfield Savings Bank now owns 11,611 shares of the oil and gas company’s stock worth $1,663,000 after purchasing an additional 68 shares during the last quarter. Atwater Malick LLC increased its position in Chevron by 2.4% during the second quarter. Atwater Malick LLC now owns 2,886 shares of the oil and gas company’s stock worth $413,000 after purchasing an additional 68 shares during the last quarter. Hubbell Strickland Wealth Management LLC increased its position in Chevron by 0.7% during the second quarter. Hubbell Strickland Wealth Management LLC now owns 10,081 shares of the oil and gas company’s stock worth $1,443,000 after purchasing an additional 68 shares during the last quarter. Finally, Mowery & Schoenfeld Wealth Management LLC increased its position in Chevron by 10.3% during the second quarter. Mowery & Schoenfeld Wealth Management LLC now owns 750 shares of the oil and gas company’s stock worth $107,000 after purchasing an additional 70 shares during the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Trading Up 2.6%

Shares of CVX stock opened at $157.58 on Monday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.74 and a current ratio of 1.00. The stock has a market capitalization of $272.30 billion, a P/E ratio of 20.28, a price-to-earnings-growth ratio of 4.40 and a beta of 0.84. The company has a 50 day moving average price of $156.07 and a 200 day moving average price of $149.20. Chevron Corporation has a fifty-two week low of $132.04 and a fifty-two week high of $168.96.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, October 31st. The oil and gas company reported $1.85 EPS for the quarter, topping the consensus estimate of $1.71 by $0.14. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The company had revenue of $49.73 billion during the quarter, compared to analysts’ expectations of $46.99 billion. During the same quarter in the previous year, the business posted $2.48 EPS. The firm’s revenue was down 1.9% on a year-over-year basis. Equities research analysts predict that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Tuesday, November 18th will be issued a $1.71 dividend. The ex-dividend date is Tuesday, November 18th. This represents a $6.84 annualized dividend and a dividend yield of 4.3%. Chevron’s dividend payout ratio is presently 88.03%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Morgan Stanley assumed coverage on shares of Chevron in a research report on Monday, August 4th. They set an “overweight” rating and a $174.00 price objective for the company. Melius Research assumed coverage on shares of Chevron in a research report on Wednesday, August 20th. They set a “hold” rating and a $155.00 price objective for the company. TD Cowen raised their price objective on shares of Chevron from $150.00 to $155.00 and gave the stock a “hold” rating in a research report on Monday, August 4th. Weiss Ratings restated a “hold (c)” rating on shares of Chevron in a research report on Wednesday, October 8th. Finally, Mizuho dropped their price target on shares of Chevron from $192.00 to $191.00 and set an “outperform” rating for the company in a research report on Monday, September 15th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $165.25.

Insider Buying and Selling at Chevron

In related news, Director John B. Hess sold 375,000 shares of the 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 sale, the director owned 1,403,045 shares in the company, valued at $222,102,023.50. This represents a 21.09% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Alana K. Knowles sold 3,978 shares of the stock in a transaction on Friday, August 29th. The stock was sold at an average price of $160.00, for a total transaction of $636,480.00. Following the sale, the vice president owned 1,181 shares of the company’s stock, valued at approximately $188,960. This represents a 77.11% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.21% of the company’s stock.

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.