Country Trust Bank Has $30.54 Million Stock Holdings in Chevron Corporation $CVX

Country Trust Bank boosted its stake in Chevron Corporation (NYSE:CVX) by 7.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 200,354 shares of the oil and gas company’s stock after buying an additional 13,768 shares during the quarter. Country Trust Bank’s holdings in Chevron were worth $30,536,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Portside Wealth Group LLC lifted its position in Chevron by 3.1% in the 4th quarter. Portside Wealth Group LLC now owns 26,520 shares of the oil and gas company’s stock worth $4,042,000 after buying an additional 791 shares in the last quarter. Lakeshore Capital Group Inc. boosted its position in Chevron by 2.4% during the fourth quarter. Lakeshore Capital Group Inc. now owns 5,370 shares of the oil and gas company’s stock valued at $818,000 after purchasing an additional 128 shares during the last quarter. Sound Income Strategies LLC boosted its position in Chevron by 9.2% during the fourth quarter. Sound Income Strategies LLC now owns 6,019 shares of the oil and gas company’s stock valued at $1,001,000 after purchasing an additional 506 shares during the last quarter. Rathbones Group PLC boosted its position in Chevron by 0.9% during the fourth quarter. Rathbones Group PLC now owns 746,934 shares of the oil and gas company’s stock valued at $113,840,000 after purchasing an additional 6,558 shares during the last quarter. Finally, Quilter Plc boosted its position in Chevron by 5.7% during the fourth quarter. Quilter Plc now owns 441,946 shares of the oil and gas company’s stock valued at $67,357,000 after purchasing an additional 23,781 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Price Performance

Shares of NYSE:CVX opened at $198.90 on Tuesday. Chevron Corporation has a fifty-two week low of $132.04 and a fifty-two week high of $214.71. The business has a 50-day moving average of $189.78 and a two-hundred day moving average of $167.10. The stock has a market capitalization of $396.89 billion, a P/E ratio of 29.87, a P/E/G ratio of 1.66 and a beta of 0.60. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.15 and a quick ratio of 0.86.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, January 30th. The oil and gas company reported $1.52 earnings per share for the quarter, topping analysts’ consensus estimates of $1.44 by $0.08. Chevron had a return on equity of 7.89% and a net margin of 6.51%.The company had revenue of $45.79 billion during the quarter, compared to analysts’ expectations of $48.18 billion. During the same quarter in the previous year, the firm earned $2.06 earnings per share. The business’s quarterly revenue was down 10.2% compared to the same quarter last year. On average, equities research analysts predict that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 10th. Shareholders of record on Tuesday, February 17th were given a $1.78 dividend. This is an increase from Chevron’s previous quarterly dividend of $1.71. This represents a $7.12 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date of this dividend was Tuesday, February 17th. Chevron’s payout ratio is presently 106.91%.

Insider Buying and Selling

In other Chevron news, insider R. Hewitt Pate sold 40,200 shares of the business’s stock in a transaction dated Monday, March 30th. The stock was sold at an average price of $213.30, for a total value of $8,574,660.00. Following the completion of the sale, the insider owned 8,638 shares of the company’s stock, valued at $1,842,485.40. The trade was a 82.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael K. Wirth sold 272,624 shares of the business’s stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $189.35, for a total transaction of $51,621,354.40. Following the completion of the sale, the chief executive officer owned 31,266 shares of the company’s stock, valued at $5,920,217.10. The trade was a 89.71% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 782,607 shares of company stock valued at $146,510,571. 0.21% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Wall Street Zen raised Chevron from a “sell” rating to a “hold” rating in a research report on Saturday, January 31st. UBS Group reissued a “buy” rating and set a $212.00 price objective on shares of Chevron in a research report on Monday, February 2nd. JPMorgan Chase & Co. raised Chevron from a “neutral” rating to an “overweight” rating and set a $176.00 price objective for the company in a research report on Tuesday, January 20th. Jefferies Financial Group lifted their price objective on Chevron from $174.00 to $189.00 and gave the company a “buy” rating in a research report on Wednesday, January 14th. Finally, Sanford C. Bernstein lifted their target price on shares of Chevron from $170.00 to $172.00 and gave the company a “market perform” rating in a research note on Monday, January 5th. Fourteen equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $187.64.

Chevron Company Profile

Chevron Corporation (NYSE: CVX) is an American multinational energy company engaged in virtually all aspects of the oil and gas industry. As an integrated energy firm, Chevron’s core activities include upstream oil and natural gas exploration and production, midstream transportation and storage, downstream refining and marketing of fuels and lubricants, and petrochemical manufacturing through joint ventures and subsidiaries. The company markets fuels under brands such as Chevron, Texaco and Caltex and supplies a range of products and services to retail customers, industrial users and commercial fleets worldwide.

Chevron traces its corporate lineage to the early petroleum companies that eventually became Standard Oil of California and has evolved through significant mergers and restructurings, including the acquisitions of Gulf Oil and Texaco.