Chevron Corp. (CVX) Stake Boosted by Mechanics Bank Trust Department
Mechanics Bank Trust Department boosted its stake in Chevron Corp. (NYSE:CVX) by 0.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 116,162 shares of the company’s stock after buying an additional 425 shares during the period. Chevron Corp. comprises 4.5% of Mechanics Bank Trust Department’s portfolio, making the stock its 2nd largest position. Mechanics Bank Trust Department’s holdings in Chevron Corp. were worth $12,177,000 as of its most recent filing with the SEC.
A number of other large investors have also recently added to or reduced their stakes in the company. State Street Corp increased its stake in Chevron Corp. by 1.2% in the first quarter. State Street Corp now owns 110,199,640 shares of the company’s stock valued at $10,513,045,000 after buying an additional 1,318,854 shares during the period. BlackRock Institutional Trust Company N.A. increased its stake in Chevron Corp. by 2.0% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 49,644,363 shares of the company’s stock valued at $4,736,072,000 after buying an additional 987,259 shares during the period. BlackRock Fund Advisors increased its stake in Chevron Corp. by 1.0% in the first quarter. BlackRock Fund Advisors now owns 30,669,148 shares of the company’s stock valued at $2,925,837,000 after buying an additional 306,414 shares during the period. Geode Capital Management LLC increased its stake in Chevron Corp. by 2.2% in the first quarter. Geode Capital Management LLC now owns 15,718,173 shares of the company’s stock valued at $1,496,560,000 after buying an additional 334,885 shares during the period. Finally, BlackRock Group LTD increased its stake in Chevron Corp. by 1.9% in the first quarter. BlackRock Group LTD now owns 15,615,464 shares of the company’s stock valued at $1,489,715,000 after buying an additional 296,294 shares during the period. 62.24% of the stock is currently owned by hedge funds and other institutional investors.
Chevron Corp. (NYSE:CVX) traded up 0.09% during midday trading on Friday, hitting $102.27. 5,844,492 shares of the stock were exchanged. The firm’s market capitalization is $192.93 billion. Chevron Corp. has a one year low of $75.33 and a one year high of $107.58. The company has a 50 day moving average price of $100.97 and a 200 day moving average price of $101.05.
Chevron Corp. (NYSE:CVX) last issued its quarterly earnings data on Friday, July 29th. The company reported ($0.78) EPS for the quarter, missing analysts’ consensus estimates of $0.32 by $1.10. Chevron Corp. had a positive return on equity of 1.07% and a negative net margin of 0.64%. The company had revenue of $29.28 billion for the quarter, compared to the consensus estimate of $25.78 billion. During the same period in the prior year, the company earned $0.30 EPS. The firm’s revenue was down 27.4% compared to the same quarter last year. Equities analysts anticipate that Chevron Corp. will post $1.31 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, September 12th. Shareholders of record on Friday, August 19th were issued a dividend of $1.07 per share. This represents a $4.28 dividend on an annualized basis and a yield of 4.19%. The ex-dividend date was Wednesday, August 17th. Chevron Corp.’s dividend payout ratio is currently -1,097.44%.
Several research analysts have weighed in on CVX shares. Vetr lowered shares of Chevron Corp. from a “buy” rating to a “hold” rating and set a $106.39 price objective for the company. in a report on Monday, June 27th. Zacks Investment Research raised shares of Chevron Corp. from a “hold” rating to a “strong-buy” rating and set a $118.00 price objective for the company in a report on Monday, October 3rd. Jefferies Group reissued a “buy” rating on shares of Chevron Corp. in a report on Friday, August 5th. Barclays PLC reissued an “equal weight” rating and set a $125.00 price objective on shares of Chevron Corp. in a report on Thursday, July 28th. Finally, Simmons raised shares of Chevron Corp. from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $110.00 to $117.00 in a report on Tuesday, August 9th. Twelve research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $105.53.
In related news, Director Inge G. Thulin acquired 487 shares of the firm’s stock in a transaction on Monday, August 15th. The shares were purchased at an average price of $102.87 per share, with a total value of $50,097.69. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Joseph C. Geagea sold 26,000 shares of the stock in a transaction dated Monday, August 15th. The stock was sold at an average price of $102.50, for a total transaction of $2,665,000.00. Following the sale, the insider now directly owns 13,000 shares in the company, valued at approximately $1,332,500. The disclosure for this sale can be found here. Company insiders own 0.40% of the company’s stock.
About Chevron Corp.
Chevron Corporation (Chevron) manages its investments in subsidiaries and affiliates and provides administrative, financial, management and technology support to the United States and international subsidiaries that engage in integrated energy and chemicals operations. The Company operates through two business segments: Upstream and Downstream.
Receive News & Stock Ratings for Chevron Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chevron Corp. and related stocks with our FREE daily email newsletter.