Hancock Whitney Corp Sells 272 Shares of Chevron Co. (NYSE:CVX)

Hancock Whitney Corp reduced its stake in Chevron Co. (NYSE:CVX) by 0.3% during the 2nd quarter, HoldingsChannel reports. The fund owned 93,522 shares of the oil and gas company’s stock after selling 272 shares during the quarter. Hancock Whitney Corp’s holdings in Chevron were worth $14,629,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of CVX. Eagle Capital Management LLC raised its position in Chevron by 0.5% in the 1st quarter. Eagle Capital Management LLC now owns 34,455 shares of the oil and gas company’s stock valued at $5,435,000 after buying an additional 163 shares during the last quarter. Lane & Associates LLC bought a new stake in Chevron during the 1st quarter worth about $345,000. KCM Investment Advisors LLC boosted its stake in shares of Chevron by 2.5% during the 1st quarter. KCM Investment Advisors LLC now owns 331,550 shares of the oil and gas company’s stock worth $52,299,000 after buying an additional 8,168 shares during the last quarter. Livelsberger Financial Advisory bought a new position in shares of Chevron in the 4th quarter valued at about $46,000. Finally, Hosking Partners LLP acquired a new stake in shares of Chevron in the first quarter valued at about $4,924,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on CVX. Royal Bank of Canada reduced their price target on Chevron from $190.00 to $180.00 and set an “outperform” rating for the company in a research report on Monday, August 5th. Sanford C. Bernstein cut shares of Chevron from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $183.00 to $167.00 in a research note on Wednesday, July 17th. Mizuho lowered their target price on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a report on Monday, September 16th. UBS Group cut their price target on shares of Chevron from $192.00 to $189.00 and set a “buy” rating for the company in a research note on Wednesday. Finally, Barclays lowered their price objective on shares of Chevron from $203.00 to $185.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 6th. Seven equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $182.41.

Chevron Price Performance

Shares of NYSE CVX opened at $145.65 on Friday. The business’s 50 day moving average is $148.06 and its 200-day moving average is $154.45. The firm has a market cap of $268.43 billion, a P/E ratio of 13.40, a price-to-earnings-growth ratio of 2.48 and a beta of 1.09. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $171.70. The company has a current ratio of 1.16, a quick ratio of 0.85 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last posted its earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). Chevron had a return on equity of 13.70% and a net margin of 9.31%. The firm had revenue of $51.18 billion for the quarter, compared to analyst estimates of $48.68 billion. During the same period in the prior year, the business posted $3.08 EPS. The firm’s quarterly revenue was up 4.7% compared to the same quarter last year. Equities research analysts predict that Chevron Co. will post 11.48 earnings per share for the current year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were given a $1.63 dividend. The ex-dividend date of this dividend was Monday, August 19th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.48%. Chevron’s payout ratio is 59.98%.

Chevron Profile

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.