Burke & Herbert Bank & Trust Co. trimmed its position in Chevron Corporation (NYSE:CVX) by 0.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 20,114 shares of the oil and gas company’s stock after selling 160 shares during the quarter. Chevron Corporation comprises approximately 1.9% of Burke & Herbert Bank & Trust Co.’s holdings, making the stock its 10th largest position. Burke & Herbert Bank & Trust Co.’s holdings in Chevron Corporation were worth $2,098,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the company. State Street Corp lifted its stake in shares of Chevron Corporation by 1.1% in the first quarter. State Street Corp now owns 118,769,549 shares of the oil and gas company’s stock worth $12,752,287,000 after buying an additional 1,261,078 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in shares of Chevron Corporation by 1.0% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 5,721,044 shares of the oil and gas company’s stock worth $614,268,000 after buying an additional 54,154 shares during the last quarter. Fisher Asset Management LLC lifted its stake in shares of Chevron Corporation by 1.0% in the first quarter. Fisher Asset Management LLC now owns 3,651,370 shares of the oil and gas company’s stock worth $392,048,000 after buying an additional 35,921 shares during the last quarter. Thomaspartners Inc. lifted its stake in shares of Chevron Corporation by 30.5% in the first quarter. Thomaspartners Inc. now owns 2,815,231 shares of the oil and gas company’s stock worth $302,271,000 after buying an additional 657,826 shares during the last quarter. Finally, Great West Life Assurance Co. Can lifted its stake in shares of Chevron Corporation by 0.9% in the first quarter. Great West Life Assurance Co. Can now owns 2,173,646 shares of the oil and gas company’s stock worth $233,274,000 after buying an additional 19,944 shares during the last quarter. Institutional investors and hedge funds own 62.74% of the company’s stock.

CVX has been the subject of a number of analyst reports. ValuEngine upgraded shares of Chevron Corporation from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. HSBC Holdings plc upgraded shares of Chevron Corporation from a “hold” rating to a “buy” rating and reduced their price objective for the stock from $124.00 to $119.00 in a research note on Monday, June 5th. They noted that the move was a valuation call. Vetr upgraded shares of Chevron Corporation to a “strong-buy” rating and set a $117.49 price objective for the company in a research note on Thursday, June 8th. BidaskClub upgraded shares of Chevron Corporation from a “strong sell” rating to a “sell” rating in a research note on Tuesday, June 13th. Finally, Macquarie cut shares of Chevron Corporation from an “outperform” rating to a “neutral” rating and set a $105.00 price objective for the company. in a research note on Wednesday, June 21st. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $116.87.

In related news, CFO Patricia E. Yarrington sold 39,000 shares of the business’s stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $111.00, for a total value of $4,329,000.00. Following the completion of the transaction, the chief financial officer now owns 43,838 shares of the company’s stock, valued at $4,866,018. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Linnet F. Deily sold 2,312 shares of the business’s stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $107.38, for a total value of $248,262.56. The disclosure for this sale can be found here. In the last ninety days, insiders sold 72,312 shares of company stock valued at $8,008,343. 0.38% of the stock is owned by insiders.

Chevron Corporation (CVX) traded down 0.10% during midday trading on Friday, hitting $117.50. 4,874,786 shares of the stock traded hands. The stock has a market capitalization of $222.66 billion, a PE ratio of 38.10 and a beta of 1.23. The firm’s 50 day moving average is $109.87 and its 200-day moving average is $107.14. Chevron Corporation has a 12-month low of $97.79 and a 12-month high of $119.00.

Chevron Corporation (NYSE:CVX) last posted its quarterly earnings results on Friday, July 28th. The oil and gas company reported $0.91 EPS for the quarter, beating the Zacks’ consensus estimate of $0.89 by $0.02. The business had revenue of $34.48 billion during the quarter, compared to the consensus estimate of $32.77 billion. Chevron Corporation had a return on equity of 4.13% and a net margin of 4.50%. Chevron Corporation’s revenue for the quarter was up 17.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.78) earnings per share. On average, analysts anticipate that Chevron Corporation will post $3.93 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Monday, September 11th. Investors of record on Friday, August 18th were paid a $1.08 dividend. This represents a $4.32 dividend on an annualized basis and a yield of 3.68%. The ex-dividend date of this dividend was Wednesday, August 16th. Chevron Corporation’s dividend payout ratio (DPR) is presently 140.26%.

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Chevron Corporation Company Profile

Chevron Corporation (Chevron) manages its investments in subsidiaries and affiliates, and provides administrative, financial, management and technology support to the United States and international subsidiaries that engage in integrated energy and chemicals operations. The Company operates through two business segments: Upstream and Downstream.

Institutional Ownership by Quarter for Chevron Corporation (NYSE:CVX)

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