American Trust Sells 634 Shares of Chevron Co. (NYSE:CVX)

American Trust lowered its position in Chevron Co. (NYSE:CVX) by 15.1% in the 1st quarter, Holdings Channel reports. The firm owned 3,568 shares of the oil and gas company’s stock after selling 634 shares during the quarter. American Trust’s holdings in Chevron were worth $563,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in CVX. American Capital Advisory LLC lifted its stake in Chevron by 403.2% in the first quarter. American Capital Advisory LLC now owns 156 shares of the oil and gas company’s stock worth $25,000 after purchasing an additional 125 shares during the last quarter. Bare Financial Services Inc purchased a new position in shares of Chevron during the fourth quarter worth approximately $27,000. Frank Rimerman Advisors LLC purchased a new position in shares of Chevron during the fourth quarter worth approximately $30,000. Cooksen Wealth LLC purchased a new position in shares of Chevron during the fourth quarter worth approximately $40,000. Finally, Clear Investment Research LLC increased its position in shares of Chevron by 264.9% during the fourth quarter. Clear Investment Research LLC now owns 281 shares of the oil and gas company’s stock worth $42,000 after acquiring an additional 204 shares during the period. Institutional investors own 72.42% of the company’s stock.

Insider Activity at Chevron

In other Chevron news, Director Enrique Hernandez, Jr. sold 2,549 shares of Chevron stock in a transaction on Friday, May 10th. The shares were sold at an average price of $165.24, for a total value of $421,196.76. Following the completion of the transaction, the director now owns 27,725 shares of the company’s stock, valued at $4,581,279. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Chevron news, Director Enrique Hernandez, Jr. sold 2,549 shares of Chevron stock in a transaction on Friday, May 10th. The shares were sold at an average price of $165.24, for a total value of $421,196.76. Following the completion of the transaction, the director now owns 27,725 shares of the company’s stock, valued at $4,581,279. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Jeff B. Gustavson sold 3,750 shares of Chevron stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $160.23, for a total transaction of $600,862.50. Following the completion of the transaction, the vice president now directly owns 477 shares of the company’s stock, valued at approximately $76,429.71. The disclosure for this sale can be found here. Insiders sold 11,397 shares of company stock worth $1,855,582 over the last three months. Company insiders own 0.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on CVX. Piper Sandler raised their target price on shares of Chevron from $180.00 to $204.00 and gave the stock an “overweight” rating in a research report on Thursday, April 18th. UBS Group lifted their price objective on shares of Chevron from $185.00 to $197.00 and gave the company a “buy” rating in a report on Tuesday, April 9th. TD Cowen lifted their price objective on shares of Chevron from $155.00 to $160.00 and gave the company a “hold” rating in a report on Monday, April 29th. Barclays started coverage on shares of Chevron in a report on Wednesday, April 10th. They set an “overweight” rating and a $203.00 price objective on the stock. Finally, HSBC lifted their price objective on shares of Chevron from $175.00 to $178.00 and gave the company a “buy” rating in a report on Tuesday, April 30th. Seven investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $185.59.

Chevron Stock Performance

Shares of NYSE:CVX traded down $4.07 on Friday, hitting $148.55. 13,278,618 shares of the company were exchanged, compared to its average volume of 6,585,736. Chevron Co. has a 1-year low of $139.62 and a 1-year high of $171.70. The stock’s 50 day moving average price is $156.37 and its 200 day moving average price is $156.00. The company has a current ratio of 1.23, a quick ratio of 0.93 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $273.77 billion, a P/E ratio of 13.67, a price-to-earnings-growth ratio of 2.45 and a beta of 1.10.

Chevron (NYSE:CVX) last posted its earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.88 by ($0.33). The business had revenue of $51.18 billion for the quarter, compared to analyst estimates of $48.68 billion. Chevron had a net margin of 10.21% and a return on equity of 14.40%. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.08 earnings per share. Sell-side analysts predict that Chevron Co. will post 12.45 EPS for the current year.

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Monday, August 19th will be given a dividend of $1.63 per share. The ex-dividend date of this dividend is Monday, August 19th. This represents a $6.52 dividend on an annualized basis and a yield of 4.39%. Chevron’s dividend payout ratio is presently 59.98%.

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.