Field & Main Bank Reduces Stock Position in Chevron Corporation $CVX

Field & Main Bank lessened its position in Chevron Corporation (NYSE:CVX) by 0.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund 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 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Golden State Wealth Management LLC grew its holdings in 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 valued at $1,311,000 after buying an additional 239 shares during the period. Astoria Portfolio Advisors LLC. purchased a new stake in Chevron in the first quarter valued at approximately $331,000. Vontobel Holding Ltd. grew its holdings 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 valued at $22,256,000 after purchasing an additional 19,919 shares during the period. Rossby Financial LCC increased its position in Chevron by 51.7% during the first quarter. Rossby Financial LCC now owns 4,994 shares of the oil and gas company’s stock worth $835,000 after purchasing an additional 1,701 shares during the last quarter. Finally, Arbor Trust Wealth Advisors LLC increased its holdings 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 worth $2,579,000 after buying an additional 457 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Wall Street Analysts Forecast Growth

CVX has been the subject of a number of research reports. Mizuho lowered their price target on Chevron from $192.00 to $191.00 and set an “outperform” rating for the company in a research report on Monday, September 15th. Raymond James Financial reissued an “outperform” rating and set a $160.00 target price (down previously from $170.00) on shares of Chevron in a research report on Friday, October 17th. Barclays cut their price target on shares of Chevron from $160.00 to $158.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 7th. Wells Fargo & Company started coverage on shares of Chevron in a research note on Friday, October 17th. They set an “overweight” rating and a $190.00 price objective for the company. Finally, UBS Group raised their target price on shares of Chevron from $186.00 to $197.00 and gave the company a “buy” rating in a research note on Wednesday, August 20th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $165.25.

Insider Buying and Selling

In other Chevron news, Director John B. Hess sold 375,000 shares of the business’s 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. The trade was a 21.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Alana K. Knowles sold 3,978 shares of the firm’s stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $160.00, for a total transaction of $636,480.00. Following the completion of the transaction, the vice president directly owned 1,181 shares in the company, valued at $188,960. This represents a 77.11% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.21% of the company’s stock.

Chevron Price Performance

Shares of CVX stock opened at $154.92 on Thursday. The firm has a fifty day simple moving average of $156.11 and a 200-day simple moving average of $148.82. The company has a market capitalization of $267.69 billion, a PE ratio of 19.94, a price-to-earnings-growth ratio of 4.38 and a beta of 0.84. Chevron Corporation has a twelve month low of $132.04 and a twelve month high of $168.96. The company has a current ratio of 1.00, a quick ratio of 0.74 and a debt-to-equity ratio of 0.16.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, August 1st. The oil and gas company reported $1.77 EPS for the quarter, topping analysts’ consensus estimates of $1.58 by $0.19. The firm had revenue of $44.82 billion for the quarter, compared to analyst estimates of $44.59 billion. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The firm’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. Equities research analysts anticipate that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th were paid a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date was Tuesday, August 19th. Chevron’s dividend payout ratio is 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.