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Whittier Trust Co. of Nevada Inc. Raises Position in Chevron Corporation $CVX

Chevron logo with Energy background

Key Points

  • Whittier Trust Co. of Nevada Inc. raised its position in Chevron Corporation by 0.8% during Q2, owning 318,549 shares worth $45.6 million, making it the trust's 17th largest holding.
  • Chevron recently declared a quarterly dividend of $1.71 per share, resulting in an annualized dividend yield of 4.4%, with a dividend payout ratio of 88.03%.
  • After reporting earnings that surpassed analysts' estimates, Chevron's stock has received several upgrades from analysts, including target price increases from UBS Group and Bank of America to $197.00 and $185.00, respectively.
  • Five stocks to consider instead of Chevron.

Whittier Trust Co. of Nevada Inc. grew its position in Chevron Corporation (NYSE:CVX - Free Report) by 0.8% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 318,549 shares of the oil and gas company's stock after buying an additional 2,400 shares during the period. Chevron makes up about 1.0% of Whittier Trust Co. of Nevada Inc.'s investment portfolio, making the stock its 17th largest holding. Whittier Trust Co. of Nevada Inc.'s holdings in Chevron were worth $45,613,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Kingstone Capital Partners Texas LLC raised its holdings in shares of Chevron by 652,139.5% during 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 purchasing an additional 83,702,101 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Chevron by 4.9% during 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 buying an additional 1,574,464 shares during the last quarter. Invesco Ltd. boosted its position in shares of Chevron by 5.5% in the first quarter. Invesco Ltd. now owns 15,855,325 shares of the oil and gas company's stock worth $2,652,437,000 after purchasing an additional 827,851 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Chevron by 0.3% in the first quarter. Dimensional Fund Advisors LP now owns 12,281,983 shares of the oil and gas company's stock worth $2,054,513,000 after purchasing an additional 40,758 shares during the period. Finally, GQG Partners LLC bought a new position in shares of Chevron in the first quarter worth approximately $1,466,751,000. 72.42% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Chevron news, Director John B. Hess sold 375,000 shares of the firm's stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $158.30, for a total transaction of $59,362,500.00. Following the completion of the transaction, the director directly owned 1,403,045 shares of the company's stock, valued at approximately $222,102,023.50. This trade represents a 21.09% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Alana K. Knowles sold 3,978 shares of the firm's 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 directly owned 1,181 shares of the company's stock, valued at $188,960. This represents a 77.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.20% of the company's stock.

Chevron Stock Up 0.9%

NYSE:CVX opened at $154.53 on Tuesday. The company's 50-day simple moving average is $156.05 and its 200-day simple moving average is $148.04. The stock has a market capitalization of $267.02 billion, a P/E ratio of 19.89, a P/E/G ratio of 2.02 and a beta of 0.84. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.74 and a current ratio of 1.00. Chevron Corporation has a fifty-two week low of $132.04 and a fifty-two week high of $168.96.

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

Chevron Dividend Announcement

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

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Morgan Stanley assumed coverage on shares of Chevron in a research report on Monday, August 4th. They set an "overweight" rating and a $174.00 target price for the company. UBS Group increased their target price on shares of Chevron from $186.00 to $197.00 and gave the company a "buy" rating in a research note on Wednesday, August 20th. Wells Fargo & Company assumed coverage on shares of Chevron in a research note on Friday. They issued an "overweight" rating and a $190.00 target price on the stock. Scotiabank raised their price target on shares of Chevron from $160.00 to $165.00 and gave the stock a "sector perform" rating in a research note on Thursday, October 9th. Finally, Bank of America raised their target price on shares of Chevron from $170.00 to $185.00 and gave the company a "buy" rating in a research report on Wednesday, September 10th. Eleven analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $165.25.

Read Our Latest Stock Report on CVX

Chevron Profile

(Free Report)

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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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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