Trust Co of the South Raises Stock Holdings in Chevron Corporation $CVX

Trust Co of the South lifted its holdings in shares of Chevron Corporation (NYSE:CVX) by 6.0% in the second quarter, HoldingsChannel.com reports. The fund owned 2,403 shares of the oil and gas company’s stock after acquiring an additional 137 shares during the period. Trust Co of the South’s holdings in Chevron were worth $344,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Charles Schwab Investment Management Inc. boosted its holdings in shares of Chevron by 4.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 33,430,030 shares of the oil and gas company’s stock worth $5,592,263,000 after acquiring an additional 1,574,464 shares during the period. Invesco Ltd. boosted its holdings in shares of Chevron by 5.5% in the first quarter. Invesco Ltd. now owns 15,855,325 shares of the oil and gas company’s stock worth $2,652,437,000 after acquiring an additional 827,851 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Chevron by 0.3% in the first quarter. Dimensional Fund Advisors LP now owns 12,281,983 shares of the oil and gas company’s stock worth $2,054,513,000 after acquiring an additional 40,758 shares during the period. GQG Partners LLC bought a new position in shares of Chevron in the first quarter worth $1,466,751,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Chevron by 7.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 8,497,288 shares of the oil and gas company’s stock worth $1,421,511,000 after buying an additional 573,072 shares in the last quarter. 72.42% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on CVX shares. UBS Group raised their price target on Chevron from $186.00 to $197.00 and gave the company a “buy” rating in a research report on Wednesday, August 20th. Bank of America lifted their price objective on Chevron from $170.00 to $185.00 and gave the stock a “buy” rating in a report on Wednesday. Melius assumed coverage on Chevron in a research note on Wednesday, August 20th. They issued a “hold” rating and a $155.00 target price on the stock. Evercore ISI reissued an “outperform” rating and issued a $180.00 target price on shares of Chevron in a research note on Thursday, July 31st. Finally, Barclays reissued an “equal weight” rating on shares of Chevron in a research note on Tuesday, July 15th. Eleven equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $164.80.

Chevron Stock Performance

Shares of CVX opened at $157.23 on Friday. The company has a quick ratio of 0.74, a current ratio of 1.00 and a debt-to-equity ratio of 0.16. The business’s 50 day moving average price is $154.67 and its 200-day moving average price is $148.89. Chevron Corporation has a 52 week low of $132.04 and a 52 week high of $168.96. The stock has a market cap of $271.69 billion, a P/E ratio of 20.24, a P/E/G ratio of 2.00 and a beta of 0.90.

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

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th were issued a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date was Tuesday, August 19th. Chevron’s payout ratio is presently 88.03%.

Insider Buying and Selling

In other Chevron news, VP Alana K. Knowles sold 3,978 shares of the business’s stock in a transaction on Friday, August 29th. The shares were sold at an average price of $160.00, for a total transaction of $636,480.00. Following the completion of the sale, the vice president directly owned 1,181 shares in the company, valued at approximately $188,960. The trade was a 77.11% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John B. Hess sold 375,000 shares of the business’s stock in a transaction 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 sale, the director 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 disclosure for this sale can be found here. 0.21% of the stock is owned by 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.