Community Trust & Investment Co. Sells 2,737 Shares of Chevron Co. (NYSE:CVX)

Community Trust & Investment Co. reduced its position in Chevron Co. (NYSE:CVXGet Rating) by 2.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 115,753 shares of the oil and gas company’s stock after selling 2,737 shares during the quarter. Chevron comprises about 1.5% of Community Trust & Investment Co.’s portfolio, making the stock its 22nd largest position. Community Trust & Investment Co.’s holdings in Chevron were worth $16,759,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in CVX. Norges Bank acquired a new stake in Chevron during the 4th quarter worth approximately $3,111,594,000. Vanguard Group Inc. lifted its position in shares of Chevron by 2.7% in the 1st quarter. Vanguard Group Inc. now owns 167,767,288 shares of the oil and gas company’s stock worth $27,317,547,000 after purchasing an additional 4,367,157 shares during the period. 1832 Asset Management L.P. lifted its position in shares of Chevron by 1,886.8% in the 1st quarter. 1832 Asset Management L.P. now owns 2,346,162 shares of the oil and gas company’s stock worth $376,786,000 after purchasing an additional 2,228,072 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Chevron by 17.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 9,763,275 shares of the oil and gas company’s stock worth $1,589,915,000 after purchasing an additional 1,437,047 shares during the period. Finally, Swiss National Bank lifted its position in shares of Chevron by 13.6% in the 1st quarter. Swiss National Bank now owns 8,349,332 shares of the oil and gas company’s stock worth $1,359,522,000 after purchasing an additional 998,700 shares during the period. 69.30% of the stock is owned by institutional investors.

Insider Buying and Selling at Chevron

In other Chevron news, EVP James William Johnson sold 85,300 shares of the company’s stock in a transaction dated Thursday, August 25th. The shares were sold at an average price of $164.01, for a total transaction of $13,990,053.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CFO Pierre R. Breber sold 22,500 shares of the stock in a transaction dated Thursday, August 11th. The shares were sold at an average price of $158.11, for a total value of $3,557,475.00. Following the sale, the chief financial officer now directly owns 7 shares of the company’s stock, valued at $1,106.77. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP James William Johnson sold 85,300 shares of the stock in a transaction dated Thursday, August 25th. The stock was sold at an average price of $164.01, for a total transaction of $13,990,053.00. The disclosure for this sale can be found here. Insiders have sold a total of 141,732 shares of company stock valued at $23,024,499 over the last three months. 0.32% of the stock is currently owned by insiders.

Analyst Ratings Changes

CVX has been the topic of a number of recent analyst reports. Bank of America boosted their price target on shares of Chevron from $178.00 to $180.00 and gave the stock a “buy” rating in a research report on Monday, August 1st. Societe Generale upgraded shares of Chevron from a “hold” rating to a “buy” rating in a research note on Thursday, August 4th. Credit Suisse Group reiterated an “outperform” rating and issued a $202.00 price objective on shares of Chevron in a research note on Thursday, August 11th. Cowen lifted their price objective on shares of Chevron from $119.00 to $120.00 and gave the company an “outperform” rating in a research note on Monday, August 15th. Finally, HSBC upgraded shares of Chevron from a “hold” rating to a “buy” rating and decreased their price target for the company from $183.00 to $167.00 in a research note on Wednesday, July 20th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, Chevron currently has a consensus rating of “Moderate Buy” and a consensus target price of $169.20.

Chevron Price Performance

Shares of NYSE:CVX opened at $155.01 on Thursday. The company’s 50-day moving average is $155.36 and its 200 day moving average is $160.36. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.11 and a current ratio of 1.31. The company has a market capitalization of $304.57 billion, a P/E ratio of 10.34, a price-to-earnings-growth ratio of 0.61 and a beta of 1.15. Chevron Co. has a fifty-two week low of $96.24 and a fifty-two week high of $182.40.

Chevron (NYSE:CVXGet Rating) last released its quarterly earnings data on Friday, July 29th. The oil and gas company reported $5.82 EPS for the quarter, beating the consensus estimate of $4.66 by $1.16. The business had revenue of $68.76 billion for the quarter, compared to the consensus estimate of $57.69 billion. Chevron had a net margin of 13.45% and a return on equity of 19.73%. The company’s revenue was up 82.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.71 earnings per share. On average, equities research analysts forecast that Chevron Co. will post 18.37 earnings per share for the current year.

Chevron Announces Dividend

The firm 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 $1.42 per share. This represents a $5.68 annualized dividend and a yield of 3.66%. The ex-dividend date of this dividend was Thursday, August 18th. Chevron’s dividend payout ratio (DPR) is presently 37.89%.

Chevron Company Profile

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Chevron Corporation, through its subsidiaries, engages in integrated energy and chemicals operations worldwide. 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 associated with liquefied natural gas; transportation of crude oil through pipelines; and transportation, storage, and marketing of natural gas, as well as operates a gas-to-liquids plant.

Further Reading

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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