Midwest Trust Co Purchases 26,635 Shares of Chevron Corporation $CVX

Midwest Trust Co increased its position in shares of Chevron Corporation (NYSE:CVX) by 9.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 310,643 shares of the oil and gas company’s stock after purchasing an additional 26,635 shares during the period. Midwest Trust Co’s holdings in Chevron were worth $48,240,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Perigon Wealth Management LLC boosted its position in Chevron by 19.3% during the third quarter. Perigon Wealth Management LLC now owns 73,448 shares of the oil and gas company’s stock valued at $11,406,000 after acquiring an additional 11,875 shares during the last quarter. New York State Teachers Retirement System boosted its position in shares of Chevron by 15.3% during the 3rd quarter. New York State Teachers Retirement System now owns 1,620,231 shares of the oil and gas company’s stock valued at $251,606,000 after purchasing an additional 215,345 shares in the last quarter. Pictet North America Advisors SA bought a new stake in shares of Chevron during the 3rd quarter valued at about $5,662,000. New York State Common Retirement Fund grew its stake in Chevron by 10.2% during the third quarter. New York State Common Retirement Fund now owns 1,894,470 shares of the oil and gas company’s stock worth $294,192,000 after purchasing an additional 175,439 shares during the period. Finally, Mutual Advisors LLC increased its holdings in Chevron by 7.3% in the second quarter. Mutual Advisors LLC now owns 88,759 shares of the oil and gas company’s stock worth $13,743,000 after purchasing an additional 6,058 shares in the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Chevron Trading Up 1.0%

CVX opened at $182.70 on Tuesday. The firm has a market capitalization of $367.87 billion, a PE ratio of 27.43, a P/E/G ratio of 12.11 and a beta of 0.70. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.15 and a quick ratio of 0.86. Chevron Corporation has a fifty-two week low of $132.04 and a fifty-two week high of $182.82. The company’s 50-day moving average is $159.90 and its 200 day moving average is $156.66.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, January 30th. The oil and gas company reported $1.52 EPS for the quarter, topping analysts’ consensus estimates of $1.44 by $0.08. Chevron had a return on equity of 8.23% and a net margin of 6.51%.The firm had revenue of $45.79 billion during the quarter, compared to analyst estimates of $48.18 billion. During the same period in the previous year, the company posted $2.06 EPS. The company’s revenue for the quarter was down 10.2% on a year-over-year basis. As a group, research analysts predict that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 10th. Shareholders of record on Tuesday, February 17th will be paid a dividend of $1.78 per share. This is a boost from Chevron’s previous quarterly dividend of $1.71. The ex-dividend date is Tuesday, February 17th. This represents a $7.12 annualized dividend and a yield of 3.9%. Chevron’s dividend payout ratio (DPR) is 102.70%.

Analyst Upgrades and Downgrades

CVX has been the topic of a number of research analyst reports. Jefferies Financial Group increased their price target on Chevron from $174.00 to $189.00 and gave the stock a “buy” rating in a report on Wednesday, January 14th. Zacks Research raised shares of Chevron from a “strong sell” rating to a “hold” rating in a research note on Tuesday, December 23rd. Wells Fargo & Company lifted their price target on shares of Chevron from $196.00 to $204.00 and gave the company an “overweight” rating in a research note on Monday, February 2nd. JPMorgan Chase & Co. upgraded shares of Chevron from a “neutral” rating to an “overweight” rating and set a $176.00 price objective on the stock in a report on Tuesday, January 20th. Finally, HSBC downgraded Chevron from a “buy” rating to a “hold” rating and set a $180.00 target price for the company. in a research note on Monday, February 2nd. Twelve research analysts have rated the stock with a Buy rating, seven have given a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $175.00.

Insider Activity

In other Chevron news, Vice Chairman Mark A. Nelson sold 45,800 shares of the company’s stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $174.17, for a total value of $7,976,986.00. Following the completion of the sale, the insider directly owned 7,161 shares of the company’s stock, valued at approximately $1,247,231.37. This represents a 86.48% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director John B. Hess sold 275,000 shares of the stock in a transaction dated Thursday, November 20th. The shares were sold at an average price of $150.75, for a total transaction of $41,456,250.00. Following the completion of the sale, the director owned 1,128,045 shares of the company’s stock, valued at approximately $170,052,783.75. This trade represents a 19.60% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 793,158 shares of company stock worth $127,919,578. Company insiders own 0.20% of the company’s stock.

Chevron Company Profile

Chevron Corporation (NYSE: CVX) is an American multinational energy company engaged in virtually all aspects of the oil and gas industry. As an integrated energy firm, Chevron’s core activities include upstream oil and natural gas exploration and production, midstream transportation and storage, downstream refining and marketing of fuels and lubricants, and petrochemical manufacturing through joint ventures and subsidiaries. The company markets fuels under brands such as Chevron, Texaco and Caltex and supplies a range of products and services to retail customers, industrial users and commercial fleets worldwide.

Chevron traces its corporate lineage to the early petroleum companies that eventually became Standard Oil of California and has evolved through significant mergers and restructurings, including the acquisitions of Gulf Oil and Texaco.