Intrust Bank NA Acquires 635 Shares of Chevron Corporation $CVX

Intrust Bank NA raised its holdings in shares of Chevron Corporation (NYSE:CVX) by 1.7% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 38,171 shares of the oil and gas company’s stock after purchasing an additional 635 shares during the period. Intrust Bank NA’s holdings in Chevron were worth $5,466,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Analyst IMS Investment Management Services Ltd. increased its position in Chevron by 1.0% during the 2nd quarter. Analyst IMS Investment Management Services Ltd. now owns 6,751 shares of the oil and gas company’s stock valued at $966,000 after buying an additional 67 shares in the last quarter. Greenfield Savings Bank increased its holdings in shares of Chevron by 0.6% during the second quarter. Greenfield Savings Bank now owns 11,611 shares of the oil and gas company’s stock valued at $1,663,000 after acquiring an additional 68 shares in the last quarter. Atwater Malick LLC raised its position in shares of Chevron by 2.4% in the 2nd quarter. Atwater Malick LLC now owns 2,886 shares of the oil and gas company’s stock worth $413,000 after purchasing an additional 68 shares during the last quarter. Hubbell Strickland Wealth Management LLC boosted its stake in Chevron by 0.7% in the 2nd quarter. Hubbell Strickland Wealth Management LLC now owns 10,081 shares of the oil and gas company’s stock worth $1,443,000 after purchasing an additional 68 shares in the last quarter. Finally, Clarity Wealth Advisors LLC grew its position in Chevron by 1.7% during the 2nd quarter. Clarity Wealth Advisors LLC now owns 4,170 shares of the oil and gas company’s stock valued at $597,000 after purchasing an additional 69 shares during the last quarter. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Chevron news, Director John B. Hess sold 375,000 shares of the company’s stock in a transaction that occurred 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 directly owned 1,403,045 shares of the company’s stock, valued at approximately $222,102,023.50. This represents a 21.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Alana K. Knowles sold 3,978 shares of the stock in a transaction that occurred on 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 owned 1,181 shares in the company, valued at $188,960. The trade was a 77.11% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.21% of the stock is owned by corporate insiders.

Chevron Price Performance

NYSE CVX opened at $157.61 on Monday. The stock has a market capitalization of $317.35 billion, a price-to-earnings ratio of 20.28, a PEG ratio of 4.40 and a beta of 0.83. Chevron Corporation has a 1-year low of $132.04 and a 1-year high of $168.96. 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 business’s fifty day moving average price is $155.26 and its 200-day moving average price is $150.40.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, October 31st. The oil and gas company reported $1.85 EPS for the quarter, topping the consensus estimate of $1.71 by $0.14. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The company had revenue of $48.17 billion during the quarter, compared to analyst estimates of $46.99 billion. During the same quarter in the previous year, the company posted $2.48 earnings per share. Chevron’s revenue was down 1.9% compared to the same quarter last year. On average, equities analysts predict that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Tuesday, November 18th will be paid a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date is Tuesday, November 18th. Chevron’s payout ratio is currently 96.20%.

Wall Street Analysts Forecast Growth

CVX has been the subject of a number of analyst reports. Scotiabank raised their price objective on shares of Chevron from $160.00 to $165.00 and gave the company a “sector perform” rating in a research note on Thursday, October 9th. Evercore ISI reiterated an “outperform” rating and set a $180.00 price target on shares of Chevron in a report on Thursday, July 31st. TD Cowen raised their price target on shares of Chevron from $150.00 to $155.00 and gave the company a “hold” rating in a research report on Monday, August 4th. Bank of America upped their price objective on Chevron from $170.00 to $185.00 and gave the company a “buy” rating in a research report on Wednesday, September 10th. Finally, UBS Group increased their target price on Chevron from $186.00 to $197.00 and gave the company a “buy” rating in a research note on Wednesday, August 20th. Eleven equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, Chevron currently has a consensus rating of “Hold” and an average target price of $166.55.

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.