Whittier Trust Co. of Nevada Inc. Boosts Position in Chevron Corporation $CVX

Whittier Trust Co. of Nevada Inc. boosted its holdings in shares of Chevron Corporation (NYSE:CVX) by 0.8% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 318,549 shares of the oil and gas company’s stock after purchasing an additional 2,400 shares during the quarter. Chevron comprises 1.0% of Whittier Trust Co. of Nevada Inc.’s portfolio, making the stock its 17th biggest position. Whittier Trust Co. of Nevada Inc.’s holdings in Chevron were worth $45,613,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in CVX. Kingstone Capital Partners Texas LLC increased its holdings in shares of Chevron by 652,139.5% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 83,714,936 shares of the oil and gas company’s stock valued at $13,214,757,000 after purchasing an additional 83,702,101 shares in the last quarter. GQG Partners LLC purchased a new position in shares of Chevron during the 1st quarter valued at approximately $1,466,751,000. Nuveen LLC purchased a new position in shares of Chevron during the 1st quarter valued at approximately $1,362,232,000. Charles Schwab Investment Management Inc. increased its holdings in shares of Chevron by 4.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 33,430,030 shares of the oil and gas company’s stock valued at $5,592,263,000 after purchasing an additional 1,574,464 shares in the last quarter. Finally, Canada Pension Plan Investment Board increased its holdings in shares of Chevron by 141.2% during the 1st quarter. Canada Pension Plan Investment Board now owns 1,891,824 shares of the oil and gas company’s stock valued at $316,483,000 after purchasing an additional 1,107,628 shares in the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Trading Up 0.9%

Shares of CVX opened at $154.53 on Tuesday. Chevron Corporation has a 52-week low of $132.04 and a 52-week high of $168.96. 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 firm’s fifty day moving average is $156.05 and its two-hundred day moving average is $148.04. The stock has a market cap of $267.02 billion, a PE ratio of 19.89, a price-to-earnings-growth ratio of 2.02 and a beta of 0.84.

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

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th were paid a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 4.4%. The ex-dividend date of this dividend was Tuesday, August 19th. Chevron’s payout ratio is 88.03%.

Analyst Ratings Changes

Several research firms have recently weighed in on CVX. Scotiabank lifted their target price on shares of Chevron from $160.00 to $165.00 and gave the company a “sector perform” rating in a report on Thursday, October 9th. Melius initiated coverage on shares of Chevron in a report on Wednesday, August 20th. They issued a “hold” rating and a $155.00 price target for the company. Weiss Ratings reissued a “hold (c)” rating on shares of Chevron in a report on Wednesday, October 8th. Mizuho cut their price target on shares of Chevron from $192.00 to $191.00 and set an “outperform” rating for the company in a report on Monday, September 15th. Finally, Piper Sandler boosted their price target on shares of Chevron from $164.00 to $168.00 and gave the stock an “overweight” rating in a report on Monday, August 18th. 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 data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $165.25.

Insider Buying and Selling at Chevron

In other Chevron news, VP Alana K. Knowles sold 3,978 shares of Chevron 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 sale, the vice president owned 1,181 shares of the company’s stock, valued at $188,960. The trade was a 77.11% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director John B. Hess sold 375,000 shares of Chevron 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 sale, the director directly owned 1,403,045 shares in the company, valued at approximately $222,102,023.50. This trade represents a 21.09% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.20% of the company’s stock.

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.