Country Trust Bank Has $26.93 Million Stock Holdings in Chevron Co. (NYSE:CVX)

Country Trust Bank lowered its stake in Chevron Co. (NYSE:CVX) by 3.6% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 182,890 shares of the oil and gas company’s stock after selling 6,873 shares during the quarter. Country Trust Bank’s holdings in Chevron were worth $26,934,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Insight Wealth Strategies LLC increased its position in shares of Chevron by 0.5% during the 3rd quarter. Insight Wealth Strategies LLC now owns 199,923 shares of the oil and gas company’s stock worth $29,443,000 after purchasing an additional 1,073 shares during the last quarter. Legacy Private Trust Co. grew its stake in shares of Chevron by 3.1% in the third quarter. Legacy Private Trust Co. now owns 49,192 shares of the oil and gas company’s stock valued at $7,245,000 after buying an additional 1,467 shares in the last quarter. Dynamic Advisor Solutions LLC increased its holdings in Chevron by 0.5% during the third quarter. Dynamic Advisor Solutions LLC now owns 114,935 shares of the oil and gas company’s stock worth $16,926,000 after buying an additional 603 shares during the last quarter. Axiom Advisory LLC raised its position in Chevron by 2.8% during the third quarter. Axiom Advisory LLC now owns 212,346 shares of the oil and gas company’s stock worth $31,606,000 after acquiring an additional 5,746 shares in the last quarter. Finally, Alpha Cubed Investments LLC lifted its stake in Chevron by 1.5% in the third quarter. Alpha Cubed Investments LLC now owns 123,723 shares of the oil and gas company’s stock valued at $18,221,000 after acquiring an additional 1,847 shares during the last quarter. Institutional investors own 72.42% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Barclays lowered their price objective on shares of Chevron from $185.00 to $168.00 and set an “overweight” rating on the stock in a research note on Thursday, October 3rd. Scotiabank dropped their price objective on Chevron from $195.00 to $180.00 and set a “sector outperform” rating on the stock in a research note on Friday, July 12th. UBS Group lifted their target price on Chevron from $189.00 to $192.00 and gave the stock a “buy” rating in a research note on Tuesday. Sanford C. Bernstein cut Chevron from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $183.00 to $167.00 in a research note on Wednesday, July 17th. Finally, Wells Fargo & Company reduced their price objective on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a research report on Friday, September 27th. Six analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $178.59.

Chevron Trading Down 1.6 %

NYSE CVX opened at $148.76 on Wednesday. The company has a market cap of $274.16 billion, a price-to-earnings ratio of 13.69, a price-to-earnings-growth ratio of 2.72 and a beta of 1.09. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $170.17. The company has a quick ratio of 0.85, a current ratio of 1.16 and a debt-to-equity ratio of 0.13. The business’s fifty day moving average is $145.88 and its 200 day moving average is $154.09.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share for the quarter, missing the consensus estimate of $2.93 by ($0.38). The firm had revenue of $51.18 billion for the quarter, compared to the consensus estimate of $48.68 billion. Chevron had a return on equity of 13.70% and a net margin of 9.31%. The business’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter last year, the firm posted $3.08 earnings per share. As a group, sell-side analysts expect that Chevron Co. will post 11.09 EPS for the current fiscal year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were issued a dividend of $1.63 per share. The ex-dividend date was Monday, August 19th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.38%. Chevron’s dividend payout ratio (DPR) is presently 59.98%.

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.