Stock Yards Bank & Trust Co. Sells 3,189 Shares of Chevron Corporation $CVX

Key Points

• Stock Yards Bank & Trust Co. reduced its stake in Chevron Corporation by 1.1%, selling 3,189 shares and now holding approximately 282,492 shares valued at $40.45 million.
• Insider selling at Chevron included VP Alana K. Knowles and Director John B. Hess, who sold 3,978 shares and 375,000 shares respectively, indicating significant reductions in their positions.
• Chevron reported quarterly EPS of $1.77, exceeding estimates, while also announcing a quarterly dividend of $1.71, representing a 4.5% yield.

Stock Yards Bank & Trust Co. cut its stake in shares of Chevron Corporation (NYSE:CVX - Free Report) by 1.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 282,492 shares of the oil and gas company's stock after selling 3,189 shares during the quarter. Chevron makes up approximately 1.4% of Stock Yards Bank & Trust Co.'s holdings, making the stock its 22nd biggest position. Stock Yards Bank & Trust Co.'s holdings in Chevron were worth $40,450,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Harvest Fund Management Co. Ltd boosted its stake in Chevron by 420.7% in the 1st quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company's stock worth $25,000 after purchasing an additional 122 shares during the period. Elequin Capital LP bought a new position in Chevron in the 1st quarter worth approximately $31,000. Cloud Capital Management LLC bought a new position in Chevron in the 1st quarter worth approximately $39,000. Investment Management Corp VA ADV boosted its stake in Chevron by 171.3% in the 1st quarter. Investment Management Corp VA ADV now owns 236 shares of the oil and gas company's stock worth $39,000 after purchasing an additional 149 shares during the period. Finally, Cooksen Wealth LLC bought a new position in Chevron in the 1st quarter worth approximately $43,000. 72.42% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Chevron

In other Chevron news, VP Alana K. Knowles sold 3,978 shares of the company's stock in a transaction on Friday, August 29th. The stock was sold at an average price of $160.00, for a total value of $636,480.00. Following the transaction, the vice president owned 1,181 shares of the company's stock, valued at $188,960. This represents a 77.11% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director John B. Hess sold 375,000 shares of the company's stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $158.30, for a total value of $59,362,500.00. Following the completion of the transaction, the director directly owned 1,403,045 shares in the company, valued at $222,102,023.50. This trade represents a 21.09% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.21% of the company's stock.

Chevron Stock Performance

Shares of Chevron stock opened at $153.59 on Friday. The stock's fifty day moving average is $156.23 and its two-hundred day moving average is $149.09. The company has a market capitalization of $265.40 billion, a PE ratio of 19.77, a price-to-earnings-growth ratio of 1.98 and a beta of 0.84. 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 Corporation has a 52 week low of $132.04 and a 52 week high of $168.96.

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

Chevron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th were given a $1.71 dividend. This represents a $6.84 annualized dividend and a yield of 4.5%. The ex-dividend date of this dividend was Tuesday, August 19th. Chevron's dividend payout ratio is 88.03%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Melius Research assumed coverage on Chevron in a research note on Wednesday, August 20th. They issued a "hold" rating and a $155.00 price target for the company. Wells Fargo & Company reaffirmed an "overweight" rating and set a $178.00 price objective on shares of Chevron in a report on Friday, August 1st. Evercore ISI reaffirmed an "outperform" rating and set a $180.00 price objective on shares of Chevron in a report on Thursday, July 31st. Barclays reaffirmed an "equal weight" rating on shares of Chevron in a report on Tuesday, July 15th. Finally, UBS Group upped their price objective on Chevron from $186.00 to $197.00 and gave the stock a "buy" rating in a report on Wednesday, August 20th. Eleven analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $165.05.

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.

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