Inspire Trust Co. N.A. Trims Stock Holdings in Chevron Corporation (NYSE:CVX)

Inspire Trust Co. N.A. reduced its holdings in Chevron Corporation (NYSE:CVXFree Report) by 2.2% during the first quarter, HoldingsChannel reports. The institutional investor owned 53,000 shares of the oil and gas company’s stock after selling 1,200 shares during the period. Chevron comprises approximately 2.1% of Inspire Trust Co. N.A.’s portfolio, making the stock its 6th largest holding. Inspire Trust Co. N.A.’s holdings in Chevron were worth $8,866,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Harvest Fund Management Co. Ltd lifted its position in Chevron by 420.7% in the 1st quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company’s stock valued at $25,000 after purchasing an additional 122 shares during the last quarter. 10Elms LLP bought a new stake in Chevron in the 4th quarter valued at about $29,000. Navigoe LLC bought a new stake in Chevron in the 4th quarter valued at about $33,000. IFS Advisors LLC lifted its position in Chevron by 119.6% in the 1st quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company’s stock valued at $36,000 after purchasing an additional 116 shares during the last quarter. Finally, Cloud Capital Management LLC bought a new stake in Chevron in the 1st quarter valued at about $39,000. 72.42% of the stock is currently owned by institutional investors.

Chevron Stock Performance

Chevron stock opened at $155.75 on Thursday. The firm’s 50 day simple moving average is $149.43 and its 200-day simple moving average is $148.60. The company has a market cap of $269.13 billion, a P/E ratio of 20.05, a price-to-earnings-growth ratio of 2.31 and a beta of 0.87. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.00 and a quick ratio of 0.74. Chevron Corporation has a fifty-two week low of $132.04 and a fifty-two week high of $168.96.

Chevron (NYSE:CVXGet Free Report) last released its earnings results on Friday, August 1st. The oil and gas company reported $1.77 earnings per share for the quarter, topping the consensus estimate of $1.58 by $0.19. The business had revenue of $44.82 billion for the quarter, compared to the consensus estimate of $44.59 billion. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The firm’s quarterly revenue was down 12.4% compared to the same quarter last year. During the same period last year, the firm posted $2.55 earnings per share. As a group, equities research analysts predict that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th will be issued a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 4.4%. The ex-dividend date is Tuesday, August 19th. Chevron’s dividend payout ratio (DPR) is currently 88.03%.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Morgan Stanley assumed coverage on shares of Chevron in a research report on Monday, August 4th. They set an “overweight” rating and a $174.00 price target on the stock. Barclays restated an “equal weight” rating on shares of Chevron in a research report on Tuesday, July 15th. Evercore ISI restated an “outperform” rating and set a $180.00 price target on shares of Chevron in a research report on Thursday, July 31st. Piper Sandler restated an “overweight” rating on shares of Chevron in a research report on Tuesday, July 15th. Finally, Scotiabank restated a “sector perform” rating and set a $160.00 price target (up from $143.00) on shares of Chevron in a research report on Friday, July 11th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $164.11.

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About Chevron

(Free Report)

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.

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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