Chevron Corporation $CVX Shares Acquired by FARMERS & MERCHANTS TRUST Co OF LONG BEACH

Key Points

• FARMERS & MERCHANTS TRUST Co OF LONG BEACH increased its stake in Chevron Corporation by 31.8%, owning 46,777 shares valued at approximately $6.7 million.
• Chevron recently reported $1.77 EPS for the quarter, exceeding analyst expectations, but noted a 12.4% decline in quarterly revenue year-over-year.
• Analysts have a consensus price target of $165.05 for Chevron, with varied ratings, including 11 "Buy," 8 "Hold," and 3 "Sell" ratings.

FARMERS & MERCHANTS TRUST Co OF LONG BEACH grew its stake in Chevron Corporation (NYSE:CVX - Free Report) by 31.8% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 46,777 shares of the oil and gas company's stock after buying an additional 11,277 shares during the quarter. Chevron accounts for about 1.4% of FARMERS & MERCHANTS TRUST Co OF LONG BEACH's portfolio, making the stock its 15th largest holding. FARMERS & MERCHANTS TRUST Co OF LONG BEACH's holdings in Chevron were worth $6,698,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of CVX. Investors Research Corp raised its holdings in Chevron by 6.3% in the 1st quarter. Investors Research Corp now owns 1,936 shares of the oil and gas company's stock worth $324,000 after purchasing an additional 114 shares during the period. Cascade Investment Advisors Inc. increased its stake in Chevron by 1.7% during the 1st quarter. Cascade Investment Advisors Inc. now owns 8,322 shares of the oil and gas company's stock worth $1,392,000 after buying an additional 140 shares in the last quarter. Peoples Bank KS increased its stake in Chevron by 3.3% during the 1st quarter. Peoples Bank KS now owns 10,573 shares of the oil and gas company's stock worth $1,769,000 after buying an additional 335 shares in the last quarter. Fifth Third Wealth Advisors LLC increased its stake in Chevron by 16.1% during the 1st quarter. Fifth Third Wealth Advisors LLC now owns 38,645 shares of the oil and gas company's stock worth $6,465,000 after buying an additional 5,372 shares in the last quarter. Finally, Allied Investment Advisors LLC increased its stake in Chevron by 4.3% during the 1st quarter. Allied Investment Advisors LLC now owns 79,380 shares of the oil and gas company's stock worth $13,279,000 after buying an additional 3,273 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on CVX. Mizuho dropped their price target on Chevron from $192.00 to $191.00 and set an "outperform" rating for the company in a research report on Monday, September 15th. TD Cowen upped their price target on Chevron from $150.00 to $155.00 and gave the company a "hold" rating in a research report on Monday, August 4th. Bank of America upped their price target on Chevron from $170.00 to $185.00 and gave the company a "buy" rating in a research report on Wednesday, September 10th. Barclays restated an "equal weight" rating on shares of Chevron in a research report on Tuesday, July 15th. Finally, UBS Group upped their price target on Chevron from $186.00 to $197.00 and gave the company a "buy" rating in a research report on Wednesday, August 20th. Eleven investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $165.05.

Chevron Trading Down 0.4%

CVX opened at $160.13 on Monday. Chevron Corporation has a 52 week low of $132.04 and a 52 week high of $168.96. The business has a fifty day simple moving average of $156.04 and a 200-day simple moving average of $149.10. The firm has a market cap of $276.70 billion, a P/E ratio of 20.61, a P/E/G ratio of 2.00 and a beta of 0.90. The company has a quick ratio of 0.74, a current ratio of 1.00 and a debt-to-equity ratio of 0.16.

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

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th were paid a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 4.3%. The ex-dividend date was Tuesday, August 19th. Chevron's dividend payout ratio (DPR) is presently 88.03%.

Insider Buying and Selling at Chevron

In other news, Director John B. Hess sold 375,000 shares of the stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $158.30, for a total value of $59,362,500.00. Following the sale, the director directly owned 1,403,045 shares in the company, valued at approximately $222,102,023.50. This trade represents a 21.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Alana K. Knowles sold 3,978 shares of the stock in a transaction on Friday, August 29th. The shares were sold at an average price of $160.00, for a total value of $636,480.00. Following the completion of the sale, the vice president owned 1,181 shares in the company, valued at approximately $188,960. The trade was a 77.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.20% of the stock is currently owned by company insiders.

Chevron Company 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.

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