Trust Co. of Oklahoma Purchases 6,547 Shares of Chevron Corporation $CVX

Trust Co. of Oklahoma boosted its position in shares of Chevron Corporation (NYSE:CVX) by 47.2% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 20,416 shares of the oil and gas company’s stock after buying an additional 6,547 shares during the quarter. Chevron makes up about 1.2% of Trust Co. of Oklahoma’s holdings, making the stock its 21st biggest holding. Trust Co. of Oklahoma’s holdings in Chevron were worth $4,224,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in CVX. State Street Corp increased its holdings in Chevron by 9.1% during the 3rd quarter. State Street Corp now owns 152,605,988 shares of the oil and gas company’s stock valued at $23,698,184,000 after purchasing an additional 12,789,399 shares during the period. Berkshire Hathaway Inc lifted its holdings in Chevron by 6.6% in the 4th quarter. Berkshire Hathaway Inc now owns 130,156,362 shares of the oil and gas company’s stock worth $19,837,131,000 after buying an additional 8,091,570 shares during the period. Geode Capital Management LLC lifted its holdings in Chevron by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 43,613,011 shares of the oil and gas company’s stock worth $6,620,187,000 after buying an additional 134,890 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Chevron by 2.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 36,036,844 shares of the oil and gas company’s stock worth $5,492,377,000 after buying an additional 961,341 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Chevron in the 4th quarter worth approximately $3,727,586,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Stock Performance

Shares of Chevron stock opened at $172.19 on Friday. Chevron Corporation has a 1 year low of $142.40 and a 1 year high of $214.71. The firm’s 50-day moving average is $185.38 and its 200 day moving average is $179.84. The stock has a market cap of $342.93 billion, a price-to-earnings ratio of 29.84, a PEG ratio of 0.56 and a beta of 0.48. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.09 and a quick ratio of 0.84.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, May 1st. The oil and gas company reported $1.41 earnings per share for the quarter, beating analysts’ consensus estimates of $1.00 by $0.41. The business had revenue of $47.56 billion during the quarter, compared to analyst estimates of $51.86 billion. Chevron had a net margin of 5.79% and a return on equity of 6.90%. Chevron’s revenue was up 2.1% compared to the same quarter last year. During the same period last year, the business earned $2.18 EPS. Sell-side analysts anticipate that Chevron Corporation will post 15.88 EPS for the current fiscal year.

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Tuesday, May 19th were given a dividend of $1.78 per share. The ex-dividend date of this dividend was Tuesday, May 19th. This represents a $7.12 annualized dividend and a dividend yield of 4.1%. Chevron’s dividend payout ratio (DPR) is 123.40%.

Insider Activity at Chevron

In related news, insider R. Hewitt Pate sold 40,200 shares of the business’s stock in a transaction that occurred on Monday, March 30th. The shares were sold at an average price of $213.30, for a total value of $8,574,660.00. Following the completion of the transaction, the insider directly owned 8,638 shares in the company, valued at $1,842,485.40. The trade was a 82.31% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John B. Hess sold 380,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $193.20, for a total value of $73,416,000.00. Following the completion of the transaction, the director directly owned 278,045 shares in the company, valued at $53,718,294. This trade represents a 57.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 615,200 shares of company stock valued at $118,022,760 in the last three months. 0.56% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on CVX shares. Wells Fargo & Company boosted their target price on Chevron from $204.00 to $222.00 and gave the company an “overweight” rating in a research note on Thursday, April 9th. Barclays raised their price target on Chevron from $192.00 to $213.00 and gave the stock an “equal weight” rating in a research note on Tuesday, May 26th. The Goldman Sachs Group reiterated a “buy” rating and issued a $216.00 price target on shares of Chevron in a report on Wednesday, May 6th. Royal Bank Of Canada reissued an “outperform” rating and set a $220.00 price objective on shares of Chevron in a research report on Tuesday, May 5th. Finally, Weiss Ratings lowered shares of Chevron from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, June 2nd. Eighteen equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Chevron presently has a consensus rating of “Moderate Buy” and an average price target of $205.70.

More Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron’s 20-year deal to supply natural gas for Microsoft’s West Texas AI data center strengthens the company’s role in the AI power buildout and could provide a durable new demand source for Permian gas. Chevron, Microsoft deal fuels West Texas data center expansion
• Positive Sentiment: Market coverage highlights Chevron’s Microsoft partnership as a potential growth platform, with investors increasingly treating natural gas power for AI data centers as a new opportunity for the company. Microsoft Solves AI’s Biggest Bottleneck With Chevron Deal (CVX)
• Neutral Sentiment: Chevron said operations in Venezuela continue after the earthquake, suggesting no immediate disruption there, but the update does not appear to be a major stock-moving development. Update: Market Chatter: Chevron Says Operations in Venezuela Continue After Earthquake
• Negative Sentiment: Trump’s announcement that Exxon Mobil and Chevron are being probed over gasoline pricing has created regulatory overhang and weighed on Big Oil sentiment. Trump says Exxon, Chevron among firms probed as part of surge in gas prices
• Negative Sentiment: Chevron’s CFO acknowledged gasoline prices should ease but warned the pass-through from lower crude prices will take time, reinforcing near-term pressure from public and political scrutiny. Chevron CFO says gas prices will normalize after Trump presses Big Oil

About Chevron

Chevron Corporation (NYSE: CVX) is an American multinational energy company engaged in virtually all aspects of the oil and gas industry. As an integrated energy firm, Chevron’s core activities include upstream oil and natural gas exploration and production, midstream transportation and storage, downstream refining and marketing of fuels and lubricants, and petrochemical manufacturing through joint ventures and subsidiaries. The company markets fuels under brands such as Chevron, Texaco and Caltex and supplies a range of products and services to retail customers, industrial users and commercial fleets worldwide.

Chevron traces its corporate lineage to the early petroleum companies that eventually became Standard Oil of California and has evolved through significant mergers and restructurings, including the acquisitions of Gulf Oil and Texaco.