Trust Co. of Oklahoma Sells 591 Shares of Chevron Co. (NYSE:CVX)

Trust Co. of Oklahoma decreased its stake in shares of Chevron Co. (NYSE:CVX) by 4.2% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 13,441 shares of the oil and gas company’s stock after selling 591 shares during the quarter. Trust Co. of Oklahoma’s holdings in Chevron were worth $2,120,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in CVX. Alps Advisors Inc. acquired a new position in Chevron in the third quarter valued at approximately $347,000. Seven Eight Capital LP acquired a new position in Chevron in the third quarter valued at approximately $1,826,000. Sei Investments Co. raised its holdings in Chevron by 15.0% in the third quarter. Sei Investments Co. now owns 456,108 shares of the oil and gas company’s stock worth $76,907,000 after purchasing an additional 59,406 shares during the period. Schroder Investment Management Group raised its holdings in Chevron by 1.0% in the third quarter. Schroder Investment Management Group now owns 849,765 shares of the oil and gas company’s stock worth $143,287,000 after purchasing an additional 8,298 shares during the period. Finally, RWWM Inc. increased its position in shares of Chevron by 2.3% during the third quarter. RWWM Inc. now owns 3,987 shares of the oil and gas company’s stock worth $672,000 after acquiring an additional 89 shares in the last quarter. Institutional investors own 72.42% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on CVX shares. Piper Sandler increased their price objective on shares of Chevron from $180.00 to $204.00 and gave the stock an “overweight” rating in a research report on Thursday, April 18th. Wells Fargo & Company raised their target price on shares of Chevron from $198.00 to $206.00 and gave the company an “overweight” rating in a research report on Tuesday, April 30th. Scotiabank raised shares of Chevron from a “sector perform” rating to a “sector outperform” rating and raised their target price for the company from $170.00 to $195.00 in a research report on Thursday, April 11th. Raymond James increased their price target on shares of Chevron from $170.00 to $174.00 and gave the company an “outperform” rating in a research note on Monday, April 15th. Finally, The Goldman Sachs Group reiterated a “buy” rating on shares of Chevron in a research note on Monday, April 1st. Five investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, Chevron currently has a consensus rating of “Moderate Buy” and a consensus target price of $186.95.

Chevron Price Performance

Shares of Chevron stock opened at $156.75 on Thursday. Chevron Co. has a twelve month low of $139.62 and a twelve month high of $171.70. The company has a quick ratio of 0.93, a current ratio of 1.23 and a debt-to-equity ratio of 0.13. The company has a 50-day simple moving average of $158.99 and a two-hundred day simple moving average of $154.88. The stock has a market capitalization of $288.89 billion, a price-to-earnings ratio of 14.42, a price-to-earnings-growth ratio of 2.38 and a beta of 1.10.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, April 26th. The oil and gas company reported $2.93 earnings per share for the quarter, topping the consensus estimate of $2.84 by $0.09. Chevron had a net margin of 10.21% and a return on equity of 14.40%. The business had revenue of $48.72 billion during the quarter, compared to analysts’ expectations of $48.42 billion. During the same quarter in the previous year, the company earned $3.55 EPS. The business’s revenue was down 4.1% on a year-over-year basis. Analysts forecast that Chevron Co. will post 13.15 EPS for the current year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Friday, May 17th were issued a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 4.16%. The ex-dividend date was Thursday, May 16th. Chevron’s dividend payout ratio is currently 59.98%.

Insider Buying and Selling at Chevron

In other Chevron news, Director Enrique Hernandez, Jr. sold 2,549 shares of the firm’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $165.24, for a total value of $421,196.76. Following the transaction, the director now directly owns 27,725 shares of the company’s stock, valued at approximately $4,581,279. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, Director Enrique Hernandez, Jr. sold 2,549 shares of Chevron stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $165.24, for a total transaction of $421,196.76. Following the sale, the director now directly owns 27,725 shares of the company’s stock, valued at approximately $4,581,279. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Jeff B. Gustavson sold 3,750 shares of Chevron stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $160.23, for a total transaction of $600,862.50. Following the sale, the vice president now directly owns 477 shares in the company, valued at $76,429.71. The disclosure for this sale can be found here. Insiders have sold a total of 16,746 shares of company stock valued at $2,727,971 in the last ninety days. 0.20% of the stock is currently owned by company insiders.

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.