Chevron Corporation $CVX Shares Sold by Legacy Trust

Legacy Trust lowered its holdings in Chevron Corporation (NYSE:CVX) by 7.8% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,996 shares of the oil and gas company’s stock after selling 254 shares during the quarter. Legacy Trust’s holdings in Chevron were worth $429,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Greenfield Savings Bank raised its stake in shares of Chevron by 0.6% during the 2nd quarter. Greenfield Savings Bank now owns 11,611 shares of the oil and gas company’s stock worth $1,663,000 after buying an additional 68 shares during the last quarter. Atwater Malick LLC raised its stake in shares of Chevron by 2.4% during the 2nd quarter. Atwater Malick LLC now owns 2,886 shares of the oil and gas company’s stock worth $413,000 after buying an additional 68 shares during the last quarter. GDS Wealth Management raised its stake in shares of Chevron by 4.4% during the 1st quarter. GDS Wealth Management now owns 1,706 shares of the oil and gas company’s stock worth $285,000 after buying an additional 72 shares during the last quarter. AIMZ Investment Advisors LLC raised its stake in shares of Chevron by 4.2% during the 1st quarter. AIMZ Investment Advisors LLC now owns 1,783 shares of the oil and gas company’s stock worth $298,000 after buying an additional 72 shares during the last quarter. Finally, Garde Capital Inc. raised its stake in shares of Chevron by 3.2% during the 2nd quarter. Garde Capital Inc. now owns 2,355 shares of the oil and gas company’s stock worth $337,000 after buying an additional 72 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Stock Up 0.1%

CVX opened at $153.59 on Friday. 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 stock has a market capitalization of $265.40 billion, a price-to-earnings ratio of 19.77, a price-to-earnings-growth ratio of 1.99 and a beta of 0.84. The business has a 50-day moving average of $156.23 and a two-hundred day moving average of $148.99. Chevron Corporation has a 12 month low of $132.04 and a 12 month high of $168.96.

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

Chevron Announces Dividend

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

Insider Activity

In other Chevron news, Director John B. Hess sold 375,000 shares of Chevron 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 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Alana K. Knowles sold 3,978 shares of Chevron stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $160.00, for a total value of $636,480.00. Following the completion of the sale, the vice president owned 1,181 shares of the company’s stock, valued at $188,960. This trade represents a 77.11% decrease in their position. The disclosure for this sale can be found here. 0.21% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on CVX shares. Evercore ISI reaffirmed an “outperform” rating and set a $180.00 price target on shares of Chevron in a research note on Thursday, July 31st. Melius initiated coverage on Chevron in a research report on Wednesday, August 20th. They set a “hold” rating and a $155.00 price objective for the company. Jefferies Financial Group reiterated a “buy” rating on shares of Chevron in a research report on Friday, July 18th. Mizuho dropped their price objective on Chevron from $192.00 to $191.00 and set an “outperform” rating for the company in a research report on Monday, September 15th. Finally, Wells Fargo & Company reiterated an “overweight” rating and set a $178.00 price objective on shares of Chevron in a research report on Friday, August 1st. Eleven 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. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $165.05.

Chevron Company 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.