Chevron Corporation $CVX Shares Sold by First National Bank of Mount Dora Trust Investment Services

First National Bank of Mount Dora Trust Investment Services lowered its holdings in Chevron Corporation (NYSE:CVX) by 5.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,447 shares of the oil and gas company’s stock after selling 300 shares during the period. First National Bank of Mount Dora Trust Investment Services’ holdings in Chevron were worth $780,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. CCG Wealth Management LLC increased its position in shares of Chevron by 2.3% in the first quarter. CCG Wealth Management LLC now owns 6,334 shares of the oil and gas company’s stock worth $1,060,000 after acquiring an additional 145 shares in the last quarter. Ignite Planners LLC grew its holdings in Chevron by 14.1% during the 1st quarter. Ignite Planners LLC now owns 12,316 shares of the oil and gas company’s stock valued at $2,060,000 after purchasing an additional 1,519 shares in the last quarter. Vista Capital Partners Inc. grew its holdings in Chevron by 9.1% during the 1st quarter. Vista Capital Partners Inc. now owns 5,938 shares of the oil and gas company’s stock valued at $993,000 after purchasing an additional 495 shares in the last quarter. Oregon Public Employees Retirement Fund grew its holdings in Chevron by 0.5% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 143,914 shares of the oil and gas company’s stock valued at $24,075,000 after purchasing an additional 675 shares in the last quarter. Finally, Capital Advisors Inc. OK grew its holdings in Chevron by 0.3% during the 1st quarter. Capital Advisors Inc. OK now owns 569,258 shares of the oil and gas company’s stock valued at $95,231,000 after purchasing an additional 1,755 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Piper Sandler raised their price target on shares of Chevron from $164.00 to $168.00 and gave the company an “overweight” rating in a report on Monday, August 18th. Morgan Stanley assumed coverage on shares of Chevron in a report on Monday, August 4th. They set an “overweight” rating and a $174.00 price target for the company. Raymond James Financial reaffirmed an “outperform” rating on shares of Chevron in a report on Friday, August 1st. Melius Research assumed coverage on shares of Chevron in a report on Wednesday, August 20th. They set a “hold” rating and a $155.00 price target for the company. Finally, UBS Group raised their price target on shares of Chevron from $186.00 to $197.00 and gave the company a “buy” rating in a report on Wednesday, August 20th. Eleven equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, Chevron presently has a consensus rating of “Hold” and a consensus price target of $165.40.

Insider Transactions at Chevron

In other news, VP Alana K. Knowles sold 3,978 shares of the firm’s stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $160.00, for a total value of $636,480.00. Following the transaction, the vice president directly owned 1,181 shares in the company, valued at approximately $188,960. This trade represents a 77.11% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director John B. Hess sold 375,000 shares of the firm’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $158.30, for a total transaction of $59,362,500.00. Following the completion of the transaction, the director owned 1,403,045 shares in the company, valued at approximately $222,102,023.50. The trade was a 21.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.21% of the company’s stock.

Chevron Trading Down 0.3%

Chevron stock opened at $151.59 on Friday. The firm’s 50-day moving average is $156.07 and its 200-day moving average is $148.25. 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 Corporation has a 1 year low of $132.04 and a 1 year high of $168.96. The company has a market cap of $261.95 billion, a P/E ratio of 19.51, a PEG ratio of 2.00 and a beta of 0.84.

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

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th were given a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date was Tuesday, August 19th. Chevron’s dividend payout ratio (DPR) is presently 88.03%.

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.