Chevron Corporation $CVX Shares Sold by Trustmark Bank Trust Department

Trustmark Bank Trust Department cut its stake in Chevron Corporation (NYSE:CVX) by 2.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 30,485 shares of the oil and gas company’s stock after selling 757 shares during the period. Trustmark Bank Trust Department’s holdings in Chevron were worth $4,365,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Harvest Fund Management Co. Ltd raised its holdings in Chevron by 420.7% during the first quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company’s stock worth $25,000 after purchasing an additional 122 shares during the last quarter. Elequin Capital LP purchased a new position in shares of Chevron in the first quarter valued at $31,000. Quaker Wealth Management LLC raised its stake in shares of Chevron by 197.7% during the 2nd quarter. Quaker Wealth Management LLC now owns 217 shares of the oil and gas company’s stock worth $31,000 after buying an additional 439 shares during the last quarter. Vermillion & White Wealth Management Group LLC raised its stake in shares of Chevron by 86.1% during the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 255 shares of the oil and gas company’s stock worth $37,000 after buying an additional 118 shares during the last quarter. Finally, IMG Wealth Management Inc. grew its stake 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 valued at $38,000 after acquiring an additional 91 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Insider Buying and Selling at Chevron

In other news, Director John B. Hess sold 275,000 shares of the stock in a transaction dated Thursday, November 20th. The shares were sold at an average price of $150.75, for a total transaction of $41,456,250.00. Following the transaction, the director directly owned 1,128,045 shares in the company, valued at $170,052,783.75. This represents a 19.60% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.21% of the stock is currently owned by insiders.

Chevron Trading Up 1.1%

Shares of CVX opened at $151.21 on Friday. Chevron Corporation has a fifty-two week low of $132.04 and a fifty-two week high of $168.96. The company has a market capitalization of $304.46 billion, a PE ratio of 19.46, a price-to-earnings-growth ratio of 4.40 and a beta of 0.83. The stock has a fifty day moving average of $153.97 and a two-hundred day moving average of $151.22. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.74 and a current ratio of 1.00.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, October 31st. The oil and gas company reported $1.85 EPS for the quarter, beating analysts’ consensus estimates of $1.71 by $0.14. The business had revenue of $48.17 billion during the quarter, compared to the consensus estimate of $46.99 billion. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The business’s revenue for the quarter was down 1.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.48 earnings per share. As a group, analysts forecast that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Tuesday, November 18th will be paid a dividend of $1.71 per share. The ex-dividend date of this dividend is Tuesday, November 18th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.5%. Chevron’s dividend payout ratio is currently 96.20%.

Analysts Set New Price Targets

A number of brokerages have issued reports on CVX. Mizuho lifted their target price on shares of Chevron from $191.00 to $204.00 and gave the stock an “outperform” rating in a research report on Thursday, November 13th. Melius Research initiated coverage on Chevron in a research report on Wednesday, August 20th. They set a “hold” rating and a $155.00 price objective for the company. Bank of America upped their target price on Chevron from $170.00 to $185.00 and gave the company a “buy” rating in a research note on Wednesday, September 10th. Scotiabank raised 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. Finally, Melius initiated coverage on Chevron in a research report on Wednesday, August 20th. They issued a “hold” rating and a $155.00 price objective on the stock. Ten equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat, Chevron has an average rating of “Hold” and an average target price of $165.58.

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.