Members Trust Co Buys 2,613 Shares of Chevron Corporation $CVX

Key Points

• Members Trust Co increased its stake in Chevron Corporation by 83.8% during the second quarter, bringing its total holdings to 5,732 shares valued at approximately $821,000.
• Other institutional investors significantly added to their positions in Chevron, with Kingstone Capital Partners increasing its stake by over 652,139%, now owning shares worth over $13 billion.
• Chevron reported earnings per share of $1.77 for the latest quarter, beating expectations, but its revenue was down 12.4% year-over-year, totaling $44.82 billion.

Members Trust Co boosted its stake in Chevron Corporation (NYSE:CVX - Free Report) by 83.8% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,732 shares of the oil and gas company's stock after purchasing an additional 2,613 shares during the quarter. Members Trust Co's holdings in Chevron were worth $821,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CVX. Kingstone Capital Partners Texas LLC grew its stake in Chevron by 652,139.5% in the second quarter. Kingstone Capital Partners Texas LLC now owns 83,714,936 shares of the oil and gas company's stock valued at $13,214,757,000 after acquiring an additional 83,702,101 shares during the period. GQG Partners LLC acquired a new position in Chevron in the first quarter valued at about $1,466,751,000. Nuveen LLC acquired a new position in Chevron in the first quarter valued at about $1,362,232,000. Charles Schwab Investment Management Inc. grew its stake in Chevron by 4.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 33,430,030 shares of the oil and gas company's stock valued at $5,592,263,000 after acquiring an additional 1,574,464 shares during the period. Finally, Canada Pension Plan Investment Board grew its stake in Chevron by 141.2% in the first quarter. Canada Pension Plan Investment Board now owns 1,891,824 shares of the oil and gas company's stock valued at $316,483,000 after acquiring an additional 1,107,628 shares during the period. 72.42% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, VP Alana K. Knowles sold 3,978 shares of the stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $160.00, for a total transaction of $636,480.00. Following the transaction, the vice president owned 1,181 shares in the company, valued at approximately $188,960. This trade represents a 77.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director John B. Hess sold 375,000 shares of the stock in a transaction that occurred 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 $222,102,023.50. This represents a 21.09% decrease in their position. The disclosure for this sale can be found here. 0.20% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on CVX. Bank of America boosted their target price on Chevron from $170.00 to $185.00 and gave the company a "buy" rating in a research note on Wednesday, September 10th. Mizuho reduced their price objective 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 objective on Chevron from $150.00 to $155.00 and gave the stock a "hold" rating in a research report on Monday, August 4th. Evercore ISI reaffirmed an "outperform" rating and set a $180.00 price objective on shares of Chevron in a research report on Thursday, July 31st. Finally, Barclays reduced their price objective on Chevron from $160.00 to $158.00 and set an "equal weight" rating for the company in a research report on Tuesday, October 7th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $165.25.

Chevron Price Performance

NYSE:CVX opened at $153.80 on Wednesday. The company has a quick ratio of 0.74, a current ratio of 1.00 and a debt-to-equity ratio of 0.16. The stock's 50 day moving average price is $156.04 and its two-hundred day moving average price is $148.08. The firm has a market capitalization of $265.76 billion, a price-to-earnings ratio of 19.79, a P/E/G ratio of 2.06 and a beta of 0.84. Chevron Corporation has a 12-month low of $132.04 and a 12-month high of $168.96.

Chevron (NYSE:CVX - Get Free Report) last released its quarterly earnings data on Friday, August 1st. The oil and gas company reported $1.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.58 by $0.19. The firm had revenue of $44.82 billion for 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 business's revenue for the quarter was down 12.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.55 earnings per share. On average, analysts anticipate that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th were paid a dividend of $1.71 per share. The ex-dividend date was Tuesday, August 19th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.4%. Chevron's dividend payout ratio (DPR) is 88.03%.

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.

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