Country Club Bank Trims Holdings in Chevron Corporation $CVX

Country Club Bank trimmed its position in Chevron Corporation (NYSE:CVX) by 0.7% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 101,750 shares of the oil and gas company’s stock after selling 695 shares during the period. Chevron comprises about 0.9% of Country Club Bank’s investment portfolio, making the stock its 24th largest position. Country Club Bank’s holdings in Chevron were worth $14,631,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Harvest Fund Management Co. Ltd lifted its holdings in shares of Chevron by 420.7% during the 1st quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company’s stock worth $25,000 after acquiring an additional 122 shares during the period. Elequin Capital LP purchased a new position in shares of Chevron during the 1st quarter worth about $31,000. Cloud Capital Management LLC purchased a new position in shares of Chevron during the 1st quarter worth about $39,000. Investment Management Corp VA ADV lifted its holdings in shares of Chevron by 171.3% during the 1st quarter. Investment Management Corp VA ADV now owns 236 shares of the oil and gas company’s stock worth $39,000 after acquiring an additional 149 shares during the period. Finally, Cooksen Wealth LLC purchased a new position in shares of Chevron during the 1st quarter worth about $43,000. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director John B. Hess sold 375,000 shares of the firm’s stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $158.30, for a total transaction of $59,362,500.00. Following the transaction, the director directly owned 1,403,045 shares in the company, valued at $222,102,023.50. This trade represents a 21.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Alana K. Knowles sold 3,978 shares of the firm’s stock in a transaction on Friday, August 29th. The stock was sold at an average price of $160.00, for a total value of $636,480.00. Following the transaction, the vice president owned 1,181 shares in the company, valued at $188,960. This trade represents a 77.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.20% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

CVX has been the topic of several recent analyst reports. Mizuho cut their price objective on shares of Chevron from $192.00 to $191.00 and set an “outperform” rating on the stock in a report on Monday, September 15th. Melius initiated coverage on shares of Chevron in a research report on Wednesday, August 20th. They set a “hold” rating and a $155.00 target price for the company. Raymond James Financial reissued an “outperform” rating on shares of Chevron in a research report on Friday, August 1st. Scotiabank reissued a “sector perform” rating and set a $160.00 target price (up previously from $143.00) on shares of Chevron in a research report on Friday, July 11th. Finally, Evercore ISI reissued an “outperform” rating and set a $180.00 target price on shares of Chevron in a research report on Thursday, July 31st. Eleven equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, Chevron presently has an average rating of “Hold” and a consensus target price of $165.05.

Chevron Stock Up 0.3%

CVX stock opened at $153.99 on Tuesday. Chevron Corporation has a twelve month low of $132.04 and a twelve month high of $168.96. The company has a current ratio of 1.00, a quick ratio of 0.74 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $266.09 billion, a P/E ratio of 19.82, a PEG ratio of 1.99 and a beta of 0.84. The firm has a 50 day simple moving average of $156.19 and a 200-day simple moving average of $148.80.

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

Chevron Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th were given a dividend of $1.71 per share. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.4%. Chevron’s dividend payout ratio (DPR) is presently 88.03%.

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.