Burke & Herbert Bank & Trust Co. Sells 729 Shares of Chevron Co. (NYSE:CVX)

Burke & Herbert Bank & Trust Co. lessened its holdings in shares of Chevron Co. (NYSE:CVXGet Rating) by 4.6% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 15,063 shares of the oil and gas company’s stock after selling 729 shares during the period. Chevron accounts for approximately 1.6% of Burke & Herbert Bank & Trust Co.’s investment portfolio, making the stock its 10th biggest holding. Burke & Herbert Bank & Trust Co.’s holdings in Chevron were worth $2,181,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in CVX. KRS Capital Management LLC acquired a new stake in shares of Chevron during the 4th quarter worth about $177,000. Axiom Advisory LLC acquired a new position in Chevron during the fourth quarter worth approximately $573,000. Invesco Ltd. increased its position in Chevron by 6.8% during the fourth quarter. Invesco Ltd. now owns 14,400,260 shares of the oil and gas company’s stock worth $1,689,870,000 after buying an additional 917,773 shares during the period. GHP Investment Advisors Inc. increased its position in Chevron by 2.1% during the fourth quarter. GHP Investment Advisors Inc. now owns 20,096 shares of the oil and gas company’s stock worth $2,358,000 after buying an additional 405 shares during the period. Finally, Quilter Plc increased its position in Chevron by 53.3% during the fourth quarter. Quilter Plc now owns 397,254 shares of the oil and gas company’s stock worth $47,377,000 after buying an additional 138,153 shares during the period. Institutional investors and hedge funds own 69.30% of the company’s stock.

Insider Buying and Selling at Chevron

In other Chevron news, Director Wanda M. Austin sold 11,432 shares of the business’s stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $161.45, for a total transaction of $1,845,696.40. Following the completion of the sale, the director now owns 3,560 shares of the company’s stock, valued at $574,762. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Chevron news, Director Wanda M. Austin sold 11,432 shares of the business’s stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $161.45, for a total transaction of $1,845,696.40. Following the completion of the sale, the director now owns 3,560 shares of the company’s stock, valued at $574,762. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP James William Johnson sold 85,300 shares of the business’s stock in a transaction dated Thursday, August 25th. The shares were sold at an average price of $164.01, for a total value of $13,990,053.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 141,732 shares of company stock valued at $23,024,499. Company insiders own 0.32% of the company’s stock.

Chevron Stock Performance

NYSE CVX opened at $156.45 on Monday. The stock has a market cap of $307.39 billion, a price-to-earnings ratio of 10.44, a price-to-earnings-growth ratio of 0.60 and a beta of 1.15. The business has a fifty day moving average of $154.36 and a 200-day moving average of $160.41. Chevron Co. has a fifty-two week low of $93.31 and a fifty-two week high of $182.40. The company has a quick ratio of 1.11, a current ratio of 1.31 and a debt-to-equity ratio of 0.15.

Chevron (NYSE:CVXGet Rating) last released its earnings results on Friday, July 29th. The oil and gas company reported $5.82 EPS for the quarter, beating the consensus estimate of $4.66 by $1.16. The firm had revenue of $68.76 billion during the quarter, compared to analyst estimates of $57.69 billion. Chevron had a return on equity of 19.73% and a net margin of 13.45%. The business’s quarterly revenue was up 82.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.71 earnings per share. As a group, analysts predict that Chevron Co. will post 18.4 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 12th. Investors of record on Friday, August 19th were paid a $1.42 dividend. The ex-dividend date of this dividend was Thursday, August 18th. This represents a $5.68 annualized dividend and a yield of 3.63%. Chevron’s payout ratio is currently 37.89%.

Analyst Ratings Changes

Several research firms have commented on CVX. Piper Sandler lifted their price target on Chevron from $189.00 to $190.00 and gave the stock an “overweight” rating in a research report on Monday, September 12th. Morgan Stanley lifted their price target on Chevron from $187.00 to $193.00 and gave the stock an “equal weight” rating in a research report on Tuesday, September 6th. Truist Financial lowered their target price on Chevron from $170.00 to $166.00 and set a “hold” rating on the stock in a research note on Tuesday, July 19th. Cowen lifted their target price on Chevron from $119.00 to $120.00 and gave the company an “outperform” rating in a research note on Monday, August 15th. Finally, Societe Generale upgraded Chevron from a “hold” rating to a “buy” rating in a research note on Thursday, August 4th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $169.20.

Chevron Profile

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Chevron Corporation, through its subsidiaries, engages in integrated energy and chemicals operations worldwide. 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 associated with liquefied natural gas; transportation of crude oil through pipelines; and transportation, storage, and marketing of natural gas, as well as operates a gas-to-liquids plant.

See Also

Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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