Mechanics Bank Trust Department Sells 6,550 Shares of Chevron Co. (NYSE:CVX)

Mechanics Bank Trust Department lowered its holdings in Chevron Co. (NYSE:CVXGet Rating) by 8.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 73,569 shares of the oil and gas company’s stock after selling 6,550 shares during the quarter. Chevron accounts for about 1.9% of Mechanics Bank Trust Department’s investment portfolio, making the stock its 11th biggest position. Mechanics Bank Trust Department’s holdings in Chevron were worth $10,651,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in Chevron by 2.7% during the first quarter. Vanguard Group Inc. now owns 167,767,288 shares of the oil and gas company’s stock worth $27,317,547,000 after buying an additional 4,367,157 shares during the last quarter. Norges Bank bought a new stake in Chevron during the fourth quarter worth about $3,111,594,000. Charles Schwab Investment Management Inc. grew its stake in Chevron by 1.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 14,697,160 shares of the oil and gas company’s stock worth $2,393,138,000 after buying an additional 189,762 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Chevron by 17.3% during the first quarter. Dimensional Fund Advisors LP now owns 9,763,275 shares of the oil and gas company’s stock worth $1,589,915,000 after buying an additional 1,437,047 shares during the last quarter. Finally, Swiss National Bank grew its stake in Chevron by 13.6% during the first quarter. Swiss National Bank now owns 8,349,332 shares of the oil and gas company’s stock worth $1,359,522,000 after buying an additional 998,700 shares during the last quarter. Institutional investors own 69.30% of the company’s stock.

Insiders Place Their Bets

In other Chevron news, EVP James William Johnson sold 85,300 shares of the stock in a transaction on Thursday, August 25th. The shares were sold at an average price of $164.01, for a total value of $13,990,053.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, EVP James William Johnson sold 85,300 shares of the firm’s stock in a transaction on Thursday, August 25th. The shares were sold at an average price of $164.01, for a total transaction of $13,990,053.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Pierre R. Breber sold 22,500 shares of the firm’s stock in a transaction on Thursday, August 11th. The stock was sold at an average price of $158.11, for a total transaction of $3,557,475.00. Following the sale, the chief financial officer now owns 7 shares in the company, valued at $1,106.77. The disclosure for this sale can be found here. Over the last three months, insiders have sold 141,732 shares of company stock worth $23,024,499. Company insiders own 0.32% of the company’s stock.

Chevron Trading Down 0.1 %

CVX opened at $154.89 on Friday. The firm’s fifty day moving average is $155.74 and its two-hundred day moving average is $160.31. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.11 and a current ratio of 1.31. The firm has a market cap of $304.33 billion, a PE ratio of 10.33, a price-to-earnings-growth ratio of 0.60 and a beta of 1.15. Chevron Co. has a twelve month low of $97.75 and a twelve month high of $182.40.

Chevron (NYSE:CVXGet Rating) last posted its earnings results on Friday, July 29th. The oil and gas company reported $5.82 earnings per share for the quarter, topping the consensus estimate of $4.66 by $1.16. The company had revenue of $68.76 billion for the quarter, compared to analyst estimates of $57.69 billion. Chevron had a net margin of 13.45% and a return on equity of 19.73%. The business’s revenue for the quarter was up 82.9% compared to the same quarter last year. During the same period last year, the business posted $1.71 earnings per share. Equities research analysts anticipate that Chevron Co. will post 18.37 EPS for the current year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 12th. Shareholders of record on Friday, August 19th were issued a $1.42 dividend. The ex-dividend date was Thursday, August 18th. This represents a $5.68 annualized dividend and a yield of 3.67%. Chevron’s dividend payout ratio (DPR) is presently 37.89%.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Cowen upped their price objective on shares of Chevron from $119.00 to $120.00 and gave the stock an “outperform” rating in a research note on Monday, August 15th. Barclays increased their price target on shares of Chevron from $183.00 to $196.00 and gave the company an “overweight” rating in a research note on Tuesday, May 31st. The Goldman Sachs Group reissued a “neutral” rating and set a $172.00 price target on shares of Chevron in a research note on Thursday, August 4th. Bank of America increased their price target on shares of Chevron from $178.00 to $180.00 and gave the company a “buy” rating in a research note on Monday, August 1st. Finally, Credit Suisse Group reissued an “outperform” rating and set a $202.00 price target on shares of Chevron in a research note on Thursday, August 11th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $169.20.

Chevron Company 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.

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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