Moody National Bank Trust Division Cuts Stock Position in Chevron Co. (NYSE:CVX)

Moody National Bank Trust Division lowered its holdings in Chevron Co. (NYSE:CVX) by 1.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 22,265 shares of the oil and gas company’s stock after selling 291 shares during the period. Moody National Bank Trust Division’s holdings in Chevron were worth $3,512,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Cullen Investment Group LTD. lifted its position in shares of Chevron by 22.6% during the 1st quarter. Cullen Investment Group LTD. now owns 33,985 shares of the oil and gas company’s stock valued at $5,430,000 after buying an additional 6,257 shares during the last quarter. GoalFusion Wealth Management LLC purchased a new position in shares of Chevron during the 1st quarter valued at $207,000. Campbell Capital Management Inc. lifted its position in shares of Chevron by 12.1% during the 1st quarter. Campbell Capital Management Inc. now owns 32,551 shares of the oil and gas company’s stock valued at $5,135,000 after buying an additional 3,521 shares during the last quarter. Peoples Bank KS lifted its position in shares of Chevron by 7.3% during the 1st quarter. Peoples Bank KS now owns 9,783 shares of the oil and gas company’s stock valued at $1,543,000 after buying an additional 666 shares during the last quarter. Finally, Heartwood Wealth Advisors LLC lifted its position in shares of Chevron by 23.0% during the 1st quarter. Heartwood Wealth Advisors LLC now owns 5,802 shares of the oil and gas company’s stock valued at $915,000 after buying an additional 1,086 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Insider Activity

In other news, Director Enrique Hernandez, Jr. sold 2,549 shares of the stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $161.00, for a total transaction of $410,389.00. Following the transaction, the director now directly owns 7,647 shares in the company, valued at approximately $1,231,167. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Chevron news, VP Alana K. Knowles sold 2,800 shares of the stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $160.09, for a total value of $448,252.00. Following the completion of the sale, the vice president now owns 276 shares in the company, valued at approximately $44,184.84. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Enrique Hernandez, Jr. sold 2,549 shares of the stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $161.00, for a total value of $410,389.00. Following the completion of the sale, the director now owns 7,647 shares of the company’s stock, valued at approximately $1,231,167. The disclosure for this sale can be found here. In the last three months, insiders have sold 19,546 shares of company stock worth $3,176,223. 0.20% of the stock is currently owned by insiders.

Chevron Price Performance

Shares of NYSE CVX opened at $153.33 on Thursday. The company has a quick ratio of 0.93, a current ratio of 1.23 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $282.58 billion, a P/E ratio of 14.11, a P/E/G ratio of 2.28 and a beta of 1.12. The stock’s 50-day simple moving average is $159.43 and its two-hundred day simple moving average is $154.04. Chevron Co. has a twelve month low of $139.62 and a twelve month high of $171.70.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, April 26th. The oil and gas company reported $2.93 EPS for the quarter, beating the consensus estimate of $2.84 by $0.09. The firm had revenue of $48.72 billion for the quarter, compared to analyst estimates of $48.42 billion. Chevron had a return on equity of 14.40% and a net margin of 10.21%. The company’s revenue was down 4.1% on a year-over-year basis. During the same period in the prior year, the company earned $3.55 EPS. As a group, equities analysts anticipate that Chevron Co. will post 13.45 EPS for the current fiscal year.

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Friday, May 17th were given a dividend of $1.63 per share. The ex-dividend date was Thursday, May 16th. This represents a $6.52 annualized dividend and a dividend yield of 4.25%. Chevron’s dividend payout ratio (DPR) is presently 59.98%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Wells Fargo & Company upped their price target on Chevron from $198.00 to $206.00 and gave the company an “overweight” rating in a research report on Tuesday, April 30th. UBS Group boosted their price objective on Chevron from $185.00 to $197.00 and gave the company a “buy” rating in a research note on Tuesday, April 9th. Barclays started coverage on Chevron in a research note on Wednesday, April 10th. They set an “overweight” rating and a $203.00 price objective on the stock. Truist Financial boosted their price objective on Chevron from $156.00 to $166.00 and gave the company a “hold” rating in a research note on Friday, May 10th. Finally, Raymond James boosted their price objective on Chevron from $170.00 to $174.00 and gave the company an “outperform” rating in a research note on Monday, April 15th. Five equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $186.95.

About Chevron

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.