Chevron Corporation $CVX Shares Sold by Field & Main Bank

Field & Main Bank trimmed its position in shares of Chevron Corporation (NYSE:CVX) by 0.9% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 18,766 shares of the oil and gas company’s stock after selling 175 shares during the period. Field & Main Bank’s holdings in Chevron were worth $2,687,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC lifted its stake in shares of Chevron by 3.1% in the 1st quarter. Golden State Wealth Management LLC now owns 7,835 shares of the oil and gas company’s stock worth $1,311,000 after acquiring an additional 239 shares during the period. Astoria Portfolio Advisors LLC. acquired a new position in Chevron during the first quarter worth about $331,000. Vontobel Holding Ltd. raised its position in Chevron by 17.6% in the first quarter. Vontobel Holding Ltd. now owns 133,036 shares of the oil and gas company’s stock worth $22,256,000 after acquiring an additional 19,919 shares in the last quarter. Rossby Financial LCC lifted its holdings in Chevron by 51.7% in the 1st quarter. Rossby Financial LCC now owns 4,994 shares of the oil and gas company’s stock valued at $835,000 after acquiring an additional 1,701 shares during the last quarter. Finally, Arbor Trust Wealth Advisors LLC boosted its position in shares of Chevron by 3.1% during the 1st quarter. Arbor Trust Wealth Advisors LLC now owns 15,415 shares of the oil and gas company’s stock valued at $2,579,000 after purchasing an additional 457 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Stock Up 0.5%

Shares of Chevron stock opened at $154.92 on Thursday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.00 and a quick ratio of 0.74. The firm has a market cap of $267.69 billion, a price-to-earnings ratio of 19.94, a P/E/G ratio of 4.38 and a beta of 0.84. Chevron Corporation has a 52-week low of $132.04 and a 52-week high of $168.96. The stock has a 50-day simple moving average of $156.11 and a 200-day simple moving average of $148.82.

Chevron (NYSE:CVX) last posted its earnings results on Friday, August 1st. The oil and gas company reported $1.77 EPS for the quarter, topping the consensus estimate of $1.58 by $0.19. The firm had revenue of $44.82 billion for 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 business’s quarterly revenue was down 12.4% on a year-over-year basis. During the same period in the prior year, the business posted $2.55 earnings per share. On average, equities research analysts expect that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

The business 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. The ex-dividend date was Tuesday, August 19th. This represents a $6.84 annualized dividend and a dividend yield of 4.4%. Chevron’s dividend payout ratio (DPR) is presently 88.03%.

Wall Street Analyst Weigh In

CVX has been the subject of a number of research reports. Evercore ISI restated an “outperform” rating and set a $180.00 target price on shares of Chevron in a report on Thursday, July 31st. Jefferies Financial Group reaffirmed a “buy” rating on shares of Chevron in a report on Friday, July 18th. Bank of America lifted their price target on Chevron from $170.00 to $185.00 and gave the stock a “buy” rating in a research note on Wednesday, September 10th. Scotiabank boosted their price objective on Chevron from $160.00 to $165.00 and gave the stock a “sector perform” rating in a report on Thursday, October 9th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Chevron in a report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Chevron presently has a consensus rating of “Hold” and a consensus price target of $165.25.

Insider Activity

In other news, Director John B. Hess sold 375,000 shares of the company’s stock in a transaction dated 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 represents a 21.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Alana K. Knowles sold 3,978 shares of Chevron 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 sale, the vice president directly owned 1,181 shares in the company, valued at $188,960. The trade was a 77.11% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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.