First National Trust Co Sells 1,090 Shares of Chevron Corporation $CVX

First National Trust Co trimmed its stake in Chevron Corporation (NYSE:CVX) by 0.8% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 132,151 shares of the oil and gas company’s stock after selling 1,090 shares during the period. First National Trust Co’s holdings in Chevron were worth $18,923,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Harvest Fund Management Co. Ltd raised its position in shares of Chevron by 420.7% in the first quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company’s stock valued at $25,000 after purchasing an additional 122 shares during the period. Elequin Capital LP bought a new position in shares of Chevron in the first quarter valued at approximately $31,000. IMG Wealth Management Inc. raised its holdings in Chevron by 52.3% in the 2nd quarter. IMG Wealth Management Inc. now owns 265 shares of the oil and gas company’s stock worth $38,000 after acquiring an additional 91 shares during the period. Cloud Capital Management LLC bought a new position in Chevron in the 1st quarter worth $39,000. Finally, Investment Management Corp VA ADV raised its holdings in Chevron by 171.3% in 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. 72.42% of the stock is owned by institutional investors.

Insider Buying and Selling at Chevron

In related news, Director John B. Hess sold 375,000 shares of the company’s stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $158.30, for a total value of $59,362,500.00. Following the sale, the director owned 1,403,045 shares of the company’s stock, valued at $222,102,023.50. The trade was a 21.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Alana K. Knowles sold 3,978 shares of the company’s stock in a transaction dated 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 disclosure for this sale can be found here. Insiders own 0.20% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Jefferies Financial Group reiterated a “buy” rating on shares of Chevron in a report on Friday, July 18th. Piper Sandler lifted their price objective on Chevron from $164.00 to $168.00 and gave the stock an “overweight” rating in a research note on Monday, August 18th. Mizuho dropped their price target on Chevron from $192.00 to $191.00 and set an “outperform” rating on the stock in a research report on Monday, September 15th. Bank of America lifted their price target on Chevron from $170.00 to $185.00 and gave the stock a “buy” rating in a research report on Wednesday, September 10th. Finally, Scotiabank lifted their price target on Chevron from $160.00 to $165.00 and gave the stock a “sector perform” rating in a research report on Thursday, October 9th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $165.25.

Chevron Trading Down 0.1%

Shares of CVX opened at $155.38 on Tuesday. The firm has a market capitalization of $268.49 billion, a price-to-earnings ratio of 20.00, a P/E/G ratio of 4.42 and a beta of 0.84. The company has a quick ratio of 0.74, a current ratio of 1.00 and a debt-to-equity ratio of 0.16. Chevron Corporation has a 12-month low of $132.04 and a 12-month high of $168.96. The stock’s 50-day moving average price is $156.03 and its 200 day moving average price is $148.55.

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

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th were issued a $1.71 dividend. 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%.

Chevron Company 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.