Davidson Trust Co. Sells 1,292 Shares of Chevron Corporation $CVX

Davidson Trust Co. lowered its stake in shares of Chevron Corporation (NYSE:CVX) by 4.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,868 shares of the oil and gas company’s stock after selling 1,292 shares during the quarter. Chevron accounts for 1.6% of Davidson Trust Co.’s investment portfolio, making the stock its 13th largest holding. Davidson Trust Co.’s holdings in Chevron were worth $3,561,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also bought and sold shares of the stock. Greenfield Savings Bank grew its holdings in Chevron by 0.6% during the second 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 in the last quarter. Atwater Malick LLC grew its holdings in Chevron by 2.4% during the second 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 in the last quarter. Hubbell Strickland Wealth Management LLC grew its holdings in Chevron by 0.7% during the second quarter. Hubbell Strickland Wealth Management LLC now owns 10,081 shares of the oil and gas company’s stock worth $1,443,000 after buying an additional 68 shares in the last quarter. Mowery & Schoenfeld Wealth Management LLC grew its holdings in Chevron by 10.3% during the second quarter. Mowery & Schoenfeld Wealth Management LLC now owns 750 shares of the oil and gas company’s stock worth $107,000 after buying an additional 70 shares in the last quarter. Finally, Capital Advisors Ltd. LLC boosted its position in Chevron by 4.1% in the second quarter. Capital Advisors Ltd. LLC now owns 1,815 shares of the oil and gas company’s stock worth $260,000 after purchasing an additional 71 shares during the last quarter. Institutional investors own 72.42% of the company’s stock.

Chevron Stock Performance

Shares of CVX opened at $152.47 on Wednesday. The stock’s 50-day simple moving average is $156.12 and its 200 day simple moving average is $148.34. The stock has a market capitalization of $263.47 billion, a price-to-earnings ratio of 19.62, a price-to-earnings-growth ratio of 1.97 and a beta of 0.84. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.74 and a current ratio of 1.00. Chevron Corporation has a 52-week low of $132.04 and a 52-week high of $168.96.

Chevron (NYSE:CVX) last announced its earnings results on Friday, August 1st. The oil and gas company reported $1.77 earnings per share for the quarter, topping analysts’ consensus estimates of $1.58 by $0.19. The business had revenue of $44.82 billion for the quarter, compared to analyst estimates of $44.59 billion. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The company’s quarterly revenue was down 12.4% compared to the same quarter last year. During the same period in the prior year, the company earned $2.55 EPS. Research analysts forecast that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Dividend Announcement

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

Wall Street Analyst Weigh In

Several research analysts have weighed in on CVX shares. Scotiabank boosted their price objective on Chevron from $160.00 to $165.00 and gave the stock a “sector perform” rating in a research report on Thursday, October 9th. Bank of America boosted their price objective on Chevron from $170.00 to $185.00 and gave the stock a “buy” rating in a research report on Wednesday, September 10th. Evercore ISI reissued an “outperform” rating and issued a $180.00 price objective on shares of Chevron in a research report on Thursday, July 31st. Morgan Stanley started coverage on Chevron in a research report on Monday, August 4th. They issued an “overweight” rating and a $174.00 price objective on the stock. Finally, Jefferies Financial Group reissued a “buy” rating on shares of Chevron in a research report on Friday, July 18th. Eleven research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $165.40.

Insider Transactions at Chevron

In other Chevron news, VP Alana K. Knowles sold 3,978 shares of the company’s stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $160.00, for a total value of $636,480.00. Following 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. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John B. Hess sold 375,000 shares of the company’s 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 transaction, the director owned 1,403,045 shares in the company, valued at $222,102,023.50. This represents a 21.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.20% of the stock is owned by corporate insiders.

About Chevron

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.