Keybank National Association OH Trims Position in Chevron Co. (NYSE:CVX)

Keybank National Association OH trimmed its holdings in Chevron Co. (NYSE:CVX) by 1.3% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 658,959 shares of the oil and gas company’s stock after selling 8,625 shares during the period. Keybank National Association OH’s holdings in Chevron were worth $82,001,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Guidant Wealth Advisors raised its holdings in Chevron by 63.9% during the second quarter. Guidant Wealth Advisors now owns 259 shares of the oil and gas company’s stock worth $32,000 after purchasing an additional 101 shares in the last quarter. Evolution Wealth Advisors LLC purchased a new position in Chevron during the second quarter worth about $34,000. Cordasco Financial Network raised its holdings in Chevron by 55.3% during the second quarter. Cordasco Financial Network now owns 379 shares of the oil and gas company’s stock worth $47,000 after purchasing an additional 135 shares in the last quarter. Ashburton Jersey Ltd purchased a new position in Chevron during the second quarter worth about $54,000. Finally, Thor Advisors LLC purchased a new position in Chevron during the first quarter worth about $67,000. 65.90% of the stock is owned by institutional investors and hedge funds.

Several research analysts recently issued reports on the stock. Morgan Stanley cut their price target on shares of Chevron from $146.00 to $144.00 and set an “overweight” rating for the company in a report on Friday, July 12th. Citigroup assumed coverage on shares of Chevron in a report on Monday, May 13th. They set a “buy” rating and a $135.00 price target for the company. Finally, Zacks Investment Research cut shares of Chevron from a “buy” rating to a “hold” rating in a report on Tuesday, May 7th. Five research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $135.41.

In related news, Director Debra L. Reed bought 4,250 shares of the stock in a transaction on Wednesday, August 7th. The shares were bought at an average cost of $118.14 per share, for a total transaction of $502,095.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Michael K. Wirth sold 33,750 shares of the company’s stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $125.60, for a total transaction of $4,239,000.00. Following the transaction, the chairman now owns 33,750 shares in the company, valued at $4,239,000. The disclosure for this sale can be found here. Insiders have sold 53,850 shares of company stock worth $6,704,375 over the last 90 days. 0.31% of the stock is currently owned by company insiders.

CVX traded up $0.05 on Friday, hitting $115.81. 6,238,500 shares of the company were exchanged, compared to its average volume of 6,027,532. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.91 and a current ratio of 1.15. The business’s fifty day moving average is $123.15 and its 200 day moving average is $121.48. Chevron Co. has a fifty-two week low of $100.22 and a fifty-two week high of $127.60. The firm has a market capitalization of $222.02 billion, a P/E ratio of 14.04, a price-to-earnings-growth ratio of 2.81 and a beta of 1.00.

Chevron (NYSE:CVX) last issued its earnings results on Friday, August 2nd. The oil and gas company reported $2.27 earnings per share for the quarter, topping the consensus estimate of $1.74 by $0.53. Chevron had a net margin of 9.18% and a return on equity of 9.58%. The company had revenue of $38.85 billion for the quarter, compared to analyst estimates of $40.14 billion. During the same period in the prior year, the business posted $1.78 earnings per share. The firm’s revenue for the quarter was down 8.0% compared to the same quarter last year. Analysts forecast that Chevron Co. will post 6.93 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th will be given a dividend of $1.19 per share. The ex-dividend date is Friday, August 16th. This represents a $4.76 annualized dividend and a yield of 4.11%. Chevron’s payout ratio is currently 57.70%.

Chevron Company Profile

Chevron Corporation, through its subsidiaries, engages in integrated energy, chemicals, and petroleum operations worldwide. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, and production 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.

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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