OLD Point Trust & Financial Services N A Sells 870 Shares of Chevron Corporation (CVX)

OLD Point Trust & Financial Services N A trimmed its holdings in shares of Chevron Corporation (NYSE:CVX) by 14.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,182 shares of the oil and gas company’s stock after selling 870 shares during the quarter. OLD Point Trust & Financial Services N A’s holdings in Chevron were worth $609,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Chevron by 2.9% in the second quarter. Vanguard Group Inc. now owns 139,626,287 shares of the oil and gas company’s stock worth $14,567,210,000 after purchasing an additional 3,920,240 shares during the period. BlackRock Inc. boosted its position in shares of Chevron by 1.6% in the second quarter. BlackRock Inc. now owns 124,678,992 shares of the oil and gas company’s stock worth $13,007,759,000 after purchasing an additional 1,975,865 shares during the period. Capital World Investors boosted its position in shares of Chevron by 9.8% in the second quarter. Capital World Investors now owns 35,546,848 shares of the oil and gas company’s stock worth $3,708,603,000 after purchasing an additional 3,182,250 shares during the period. Northern Trust Corp boosted its position in shares of Chevron by 0.6% in the second quarter. Northern Trust Corp now owns 26,153,161 shares of the oil and gas company’s stock worth $2,728,558,000 after purchasing an additional 157,021 shares during the period. Finally, Franklin Resources Inc. boosted its position in shares of Chevron by 0.3% in the second quarter. Franklin Resources Inc. now owns 15,609,647 shares of the oil and gas company’s stock worth $1,628,554,000 after purchasing an additional 49,083 shares during the period. Institutional investors own 63.80% of the company’s stock.

Shares of Chevron Corporation (CVX) opened at $125.98 on Wednesday. The stock has a market cap of $239,280.00, a price-to-earnings ratio of 36.73, a P/E/G ratio of 4.12 and a beta of 1.21. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.84 and a current ratio of 1.04. Chevron Corporation has a 12 month low of $102.55 and a 12 month high of $126.14.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, October 27th. The oil and gas company reported $1.03 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.99 by $0.04. The company had revenue of $36.21 billion for the quarter, compared to the consensus estimate of $34.06 billion. Chevron had a net margin of 4.79% and a return on equity of 4.59%. Chevron’s revenue was up 20.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.68 earnings per share. equities analysts forecast that Chevron Corporation will post 4.33 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Monday, December 11th. Investors of record on Friday, November 17th were paid a dividend of $1.08 per share. This represents a $4.32 dividend on an annualized basis and a yield of 3.43%. The ex-dividend date was Thursday, November 16th. Chevron’s payout ratio is 125.95%.

In related news, insider Pierre R. Breber sold 23,250 shares of the company’s stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $119.00, for a total transaction of $2,766,750.00. Following the sale, the insider now owns 42,182 shares of the company’s stock, valued at $5,019,658. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP R. Hewitt Pate sold 25,500 shares of the company’s stock in a transaction on Monday, October 16th. The shares were sold at an average price of $120.00, for a total transaction of $3,060,000.00. Following the sale, the vice president now directly owns 25,500 shares in the company, valued at approximately $3,060,000. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 314,000 shares of company stock worth $36,540,822. 0.38% of the stock is owned by insiders.

CVX has been the topic of several research analyst reports. UBS Group set a $105.00 target price on shares of Chevron and gave the stock a “neutral” rating in a report on Wednesday, September 6th. Morgan Stanley boosted their target price on shares of Chevron from $120.00 to $130.00 and gave the stock an “overweight” rating in a report on Wednesday, October 18th. Citigroup boosted their target price on shares of Chevron from $118.00 to $128.00 and gave the stock a “buy” rating in a report on Monday, October 30th. Jefferies Group set a $130.00 target price on shares of Chevron and gave the stock a “buy” rating in a report on Tuesday, August 29th. Finally, Zacks Investment Research downgraded shares of Chevron from a “buy” rating to a “hold” rating in a report on Tuesday, November 14th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. Chevron currently has a consensus rating of “Hold” and a consensus price target of $124.65.

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Chevron Company Profile

Chevron Corporation (Chevron) manages its investments in subsidiaries and affiliates, and provides administrative, financial, management and technology support to the United States and international subsidiaries that engage in integrated energy and chemicals operations. The Company operates through two business segments: Upstream and Downstream.

Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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