Chevron Corporation $CVX Shares Sold by Texas Bank & Trust Co

Texas Bank & Trust Co reduced its holdings in Chevron Corporation (NYSE:CVX) by 4.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 22,907 shares of the oil and gas company’s stock after selling 1,157 shares during the quarter. Chevron makes up 1.3% of Texas Bank & Trust Co’s portfolio, making the stock its 22nd biggest holding. Texas Bank & Trust Co’s holdings in Chevron were worth $3,280,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in 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 acquired a new position in Chevron during the first quarter worth approximately $31,000. Quaker Wealth Management LLC raised its stake in Chevron by 197.7% during the second quarter. Quaker Wealth Management LLC now owns 217 shares of the oil and gas company’s stock worth $31,000 after purchasing an additional 439 shares during the period. IMG Wealth Management Inc. boosted its holdings in shares of Chevron by 52.3% in the 2nd quarter. IMG Wealth Management Inc. now owns 265 shares of the oil and gas company’s stock valued at $38,000 after purchasing an additional 91 shares during the last quarter. Finally, Cloud Capital Management LLC purchased a new stake in shares of Chevron during the 1st quarter valued at $39,000. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Chevron news, VP Alana K. Knowles sold 3,978 shares of the business’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 transaction, the vice president directly owned 1,181 shares of the company’s stock, valued at $188,960. The trade was a 77.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director John B. Hess sold 375,000 shares of the business’s stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $158.30, for a total value of $59,362,500.00. Following the transaction, the director owned 1,403,045 shares of the company’s stock, valued at approximately $222,102,023.50. This represents a 21.09% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.21% of the stock is currently owned by corporate insiders.

Chevron Stock Performance

Chevron stock opened at $157.58 on Monday. Chevron Corporation has a 52 week low of $132.04 and a 52 week 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 stock has a market cap of $272.30 billion, a P/E ratio of 20.28, a price-to-earnings-growth ratio of 4.40 and a beta of 0.84. The stock has a 50 day moving average of $156.07 and a 200-day moving average of $149.20.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, October 31st. The oil and gas company reported $1.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.71 by $0.14. The firm had revenue of $49.73 billion for the quarter, compared to analysts’ expectations of $46.99 billion. Chevron had a return on equity of 9.90% and a net margin of 7.02%.Chevron’s revenue for the quarter was down 1.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.48 earnings per share. On average, analysts expect that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Tuesday, November 18th will be given a dividend of $1.71 per share. The ex-dividend date is Tuesday, November 18th. This represents a $6.84 annualized dividend and a dividend yield of 4.3%. Chevron’s dividend payout ratio is currently 88.03%.

Analyst Ratings Changes

Several brokerages recently weighed in on CVX. Bank of America increased their target price on Chevron from $170.00 to $185.00 and gave the stock a “buy” rating in a research report on Wednesday, September 10th. Melius began coverage on Chevron in a research note on Wednesday, August 20th. They set a “hold” rating and a $155.00 price target for the company. TD Cowen lifted their price objective on Chevron from $150.00 to $155.00 and gave the company a “hold” rating in a research note on Monday, August 4th. UBS Group increased their target price on shares of Chevron from $186.00 to $197.00 and gave the stock a “buy” rating in a research report on Wednesday, August 20th. Finally, Jefferies Financial Group restated a “buy” rating on shares of Chevron in a report on Friday, July 18th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, Chevron presently has an average rating of “Hold” and a consensus target price of $165.25.

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.