Farmers Trust Co. Has $1.47 Million Position in Chevron Co. (NYSE:CVX)

Farmers Trust Co. lessened its holdings in shares of Chevron Co. (NYSE:CVX) by 4.1% in the second quarter, Holdings Channel.com reports. The fund owned 9,370 shares of the oil and gas company’s stock after selling 401 shares during the quarter. Farmers Trust Co.’s holdings in Chevron were worth $1,466,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in CVX. American Capital Advisory LLC increased its holdings in Chevron by 403.2% in the first quarter. American Capital Advisory LLC now owns 156 shares of the oil and gas company’s stock valued at $25,000 after purchasing an additional 125 shares during the last quarter. Bare Financial Services Inc bought a new stake in shares of Chevron in the 4th quarter valued at about $27,000. Frank Rimerman Advisors LLC acquired a new stake in shares of Chevron in the 4th quarter valued at approximately $30,000. Cooksen Wealth LLC acquired a new stake in shares of Chevron in the 4th quarter valued at approximately $40,000. Finally, Clear Investment Research LLC boosted its stake in Chevron by 264.9% during the 4th quarter. Clear Investment Research LLC now owns 281 shares of the oil and gas company’s stock worth $42,000 after acquiring an additional 204 shares during the last quarter. Institutional investors own 72.42% of the company’s stock.

Insider Transactions at Chevron

In related news, VP Jeff B. Gustavson sold 3,750 shares of the firm’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $160.23, for a total transaction of $600,862.50. Following the transaction, the vice president now directly owns 477 shares of the company’s stock, valued at $76,429.71. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Truist Financial cut their target price on shares of Chevron from $156.00 to $154.00 and set a “hold” rating on the stock in a report on Monday, August 5th. Wells Fargo & Company raised their price objective on Chevron from $198.00 to $206.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 30th. HSBC boosted their target price on Chevron from $175.00 to $178.00 and gave the company a “buy” rating in a research note on Tuesday, April 30th. Wolfe Research initiated coverage on Chevron in a research report on Thursday, July 18th. They set a “peer perform” rating on the stock. Finally, Barclays decreased their price objective on Chevron from $203.00 to $185.00 and set an “overweight” rating for the company in a research report on Tuesday, August 6th. Seven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, Chevron has a consensus rating of “Moderate Buy” and an average target price of $183.82.

Chevron Stock Performance

Shares of CVX traded up $0.52 during trading hours on Wednesday, hitting $144.67. The company had a trading volume of 5,802,287 shares, compared to its average volume of 7,898,785. The firm has a market cap of $266.62 billion, a price-to-earnings ratio of 13.21, a PEG ratio of 2.42 and a beta of 1.10. 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 has a fifty day moving average of $154.39 and a 200-day moving average of $156.08. Chevron Co. has a 12 month low of $139.62 and a 12 month high of $171.70.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.93 by ($0.38). The company had revenue of $51.18 billion for the quarter, compared to analyst estimates of $48.68 billion. Chevron had a return on equity of 13.70% and a net margin of 9.31%. The company’s revenue was up 4.7% on a year-over-year basis. During the same quarter last year, the business earned $3.08 earnings per share. Equities analysts anticipate that Chevron Co. will post 11.96 EPS for the current fiscal year.

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th will be given a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 4.51%. The ex-dividend date is Monday, August 19th. Chevron’s payout ratio is 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.