Midwest Trust Co Sells 4,654 Shares of Chevron Corporation $CVX

Midwest Trust Co lowered its stake in shares of Chevron Corporation (NYSE:CVX) by 1.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 297,670 shares of the oil and gas company’s stock after selling 4,654 shares during the quarter. Midwest Trust Co’s holdings in Chevron were worth $61,588,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Fifth Third Bancorp boosted its holdings in shares of Chevron by 104.1% during the 1st quarter. Fifth Third Bancorp now owns 1,608,439 shares of the oil and gas company’s stock valued at $332,786,000 after buying an additional 820,294 shares in the last quarter. Glass Wealth Management Co LLC increased its stake in shares of Chevron by 4.2% in the 1st quarter. Glass Wealth Management Co LLC now owns 29,318 shares of the oil and gas company’s stock worth $6,066,000 after acquiring an additional 1,183 shares in the last quarter. Sovran Advisors LLC increased its stake in shares of Chevron by 19.9% in the 1st quarter. Sovran Advisors LLC now owns 8,736 shares of the oil and gas company’s stock worth $1,689,000 after acquiring an additional 1,448 shares in the last quarter. American Trust purchased a new position in Chevron during the 1st quarter valued at about $258,000. Finally, Droms Strauss Advisors Inc. MO ADV purchased a new position in Chevron during the 1st quarter valued at about $238,000. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Chevron

In related news, Director John B. Hess sold 380,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $193.20, for a total value of $73,416,000.00. Following the completion of the transaction, the director directly owned 278,045 shares in the company, valued at $53,718,294. The trade was a 57.75% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.56% of the stock is owned by company insiders.

Key Stories Impacting Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Rising Middle East tensions are pushing crude higher, which can improve Chevron’s upstream profits and make the stock look more attractive as a geopolitical hedge. With Iran Tensions Heating Up Again, Chevron Stock Looks Enticing
• Positive Sentiment: Bullish commentary from Bank of America and other analysts suggests Chevron is well positioned to benefit if Iran-related supply disruptions keep oil prices elevated. CVX Stock Has A New Bull Case
• Positive Sentiment: Chevron announced a five-year gas supply deal with Australia’s Alinta Energy, adding a stable long-term sales stream and reinforcing its gas business. Chevron Australia signs five-year gas supply agreement with Alinta Energy
• Positive Sentiment: Chevron also expanded its technology/licensing efforts and its Microsoft power partnership, which could support long-term growth beyond oil and gas pricing. Can Chevron’s Microsoft Partnership Power the Next Leg of Growth?
• Neutral Sentiment: UBS reiterated a Buy rating, which may help sentiment but does not by itself change Chevron’s fundamentals. UBS Keeps Their Buy Rating on Chevron (CVX)
• Negative Sentiment: New U.S. Russia sanctions proposals could tighten global energy trade flows and add policy uncertainty, even if they may also support oil prices. Bipartisan Senators Reach Agreement With Trump Administration to Advance New Russia Sanctions Bill

Chevron Stock Up 1.3%

CVX stock traded up $2.24 during trading on Friday, hitting $176.29. 5,984,338 shares of the stock traded hands, compared to its average volume of 9,284,713. Chevron Corporation has a 1 year low of $146.49 and a 1 year high of $214.71. The firm’s 50 day moving average is $181.92 and its two-hundred day moving average is $181.29. The stock has a market cap of $351.10 billion, a price-to-earnings ratio of 30.55, a price-to-earnings-growth ratio of 0.60 and a beta of 0.50. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.09 and a quick ratio of 0.84.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, May 1st. The oil and gas company reported $1.41 earnings per share for the quarter, beating analysts’ consensus estimates of $1.00 by $0.41. The business had revenue of $47.56 billion during the quarter, compared to analyst estimates of $51.86 billion. Chevron had a net margin of 5.79% and a return on equity of 6.90%. Chevron’s revenue was up 2.1% compared to the same quarter last year. During the same period last year, the business earned $2.18 EPS. On average, sell-side analysts anticipate that Chevron Corporation will post 15.28 EPS for the current year.

Chevron Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Tuesday, May 19th were given a dividend of $1.78 per share. The ex-dividend date of this dividend was Tuesday, May 19th. This represents a $7.12 annualized dividend and a dividend yield of 4.0%. Chevron’s dividend payout ratio (DPR) is 123.40%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on CVX shares. TD Cowen upped their price objective on shares of Chevron from $204.00 to $205.00 and gave the stock a “hold” rating in a report on Friday, May 8th. Sanford C. Bernstein lowered their target price on shares of Chevron from $216.00 to $204.00 and set a “market perform” rating for the company in a report on Monday, May 11th. Royal Bank Of Canada reissued an “outperform” rating and issued a $220.00 price target on shares of Chevron in a research report on Tuesday, May 5th. Morgan Stanley cut their price target on Chevron from $214.00 to $210.00 and set an “overweight” rating on the stock in a research note on Monday, June 29th. Finally, Scotiabank raised their price objective on Chevron from $168.00 to $187.00 and gave the company a “sector perform” rating in a research report on Wednesday, April 22nd. Nineteen analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Chevron has a consensus rating of “Moderate Buy” and an average target price of $206.83.

Chevron 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.