Trust Point Inc. Sells 2,594 Shares of Chevron Co. (NYSE:CVX)

Trust Point Inc. reduced its position in Chevron Co. (NYSE:CVX) by 13.9% in the 3rd quarter, HoldingsChannel reports. The firm owned 16,123 shares of the oil and gas company’s stock after selling 2,594 shares during the period. Trust Point Inc.’s holdings in Chevron were worth $2,374,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. Aaron Wealth Advisors LLC raised its holdings in shares of Chevron by 7.9% during the third quarter. Aaron Wealth Advisors LLC now owns 7,251 shares of the oil and gas company’s stock valued at $1,068,000 after purchasing an additional 528 shares during the period. Joule Financial LLC lifted its stake in Chevron by 6.3% in the 3rd quarter. Joule Financial LLC now owns 3,192 shares of the oil and gas company’s stock worth $470,000 after purchasing an additional 190 shares in the last quarter. Stonegate Investment Group LLC lifted its stake in Chevron by 2.1% in the 3rd quarter. Stonegate Investment Group LLC now owns 787,081 shares of the oil and gas company’s stock worth $115,913,000 after purchasing an additional 15,925 shares in the last quarter. Sloy Dahl & Holst LLC lifted its stake in Chevron by 10.9% in the 3rd quarter. Sloy Dahl & Holst LLC now owns 4,532 shares of the oil and gas company’s stock worth $667,000 after purchasing an additional 445 shares in the last quarter. Finally, V Square Quantitative Management LLC lifted its holdings in shares of Chevron by 48.7% during the 3rd quarter. V Square Quantitative Management LLC now owns 8,977 shares of the oil and gas company’s stock worth $1,322,000 after acquiring an additional 2,941 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Chevron Trading Down 0.8 %

NYSE:CVX traded down $1.26 during mid-day trading on Friday, reaching $149.94. The company’s stock had a trading volume of 1,353,054 shares, compared to its average volume of 7,687,757. The company’s fifty day simple moving average is $145.96 and its two-hundred day simple moving average is $153.76. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.16 and a quick ratio of 0.85. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $170.17. The stock has a market cap of $276.33 billion, a P/E ratio of 13.79, a P/E/G ratio of 2.74 and a beta of 1.09.

Chevron (NYSE:CVX) last announced its earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). The business had revenue of $51.18 billion during the quarter, compared to analyst estimates of $48.68 billion. Chevron had a net margin of 9.31% and a return on equity of 13.70%. The business’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period in the previous year, the company earned $3.08 earnings per share. On average, equities analysts predict that Chevron Co. will post 11.06 EPS for the current year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were paid a $1.63 dividend. The ex-dividend date of this dividend was Monday, August 19th. This represents a $6.52 annualized dividend and a dividend yield of 4.35%. Chevron’s payout ratio is 59.98%.

Analyst Ratings Changes

A number of brokerages recently commented on CVX. Wells Fargo & Company decreased their target price on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating on the stock in a research report on Friday, September 27th. Wolfe Research began coverage on shares of Chevron in a research note on Thursday, July 18th. They issued a “peer perform” rating on the stock. UBS Group upped their target price on shares of Chevron from $189.00 to $192.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Royal Bank of Canada restated an “outperform” rating and set a $170.00 target price on shares of Chevron in a research report on Tuesday, October 8th. Finally, Truist Financial lowered their price objective on shares of Chevron from $154.00 to $150.00 and set a “hold” rating for the company in a research report on Monday, September 30th. Five equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $173.07.

Chevron 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.