Chevron Co. (NYSE:CVX) Holdings Cut by Indiana Trust & Investment Management Co

by · The Markets Daily

Indiana Trust & Investment Management Co reduced its stake in Chevron Co. (NYSE:CVX – Free Report) by 5.8% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,977 shares of the oil and gas company’s stock after selling 426 shares during the period. Indiana Trust & Investment Management Co’s holdings in Chevron were worth $1,028,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Ameriprise Financial Inc. grew its position in Chevron by 3.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 17,111,051 shares of the oil and gas company’s stock worth $2,676,957,000 after purchasing an additional 501,969 shares during the last quarter. Capital World Investors boosted its position in shares of Chevron by 3.2% during the first quarter. Capital World Investors now owns 16,009,766 shares of the oil and gas company’s stock worth $2,525,380,000 after buying an additional 495,879 shares during the period. Legal & General Group Plc grew its holdings in Chevron by 4.9% in the 2nd quarter. Legal & General Group Plc now owns 13,570,971 shares of the oil and gas company’s stock worth $2,122,772,000 after buying an additional 629,644 shares in the last quarter. Capital International Investors increased its position in Chevron by 5.9% in the 1st quarter. Capital International Investors now owns 13,418,287 shares of the oil and gas company’s stock valued at $2,116,600,000 after acquiring an additional 743,042 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in Chevron by 1.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 13,021,023 shares of the oil and gas company’s stock valued at $2,036,846,000 after acquiring an additional 126,889 shares in the last quarter. 72.42% of the stock is owned by institutional investors.

Chevron Stock Performance

Shares of CVX opened at $148.69 on Thursday. The company has a market capitalization of $274.03 billion, a PE ratio of 13.68, a price-to-earnings-growth ratio of 2.72 and a beta of 1.09. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.16 and a quick ratio of 0.85. Chevron Co. has a one year low of $135.37 and a one year high of $170.17. The company’s fifty day moving average price is $145.82 and its 200 day moving average price is $153.78.

Chevron (NYSE:CVX – Get Free Report) last posted its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share for the quarter, missing the consensus estimate of $2.93 by ($0.38). The business had revenue of $51.18 billion for the quarter, compared to analyst estimates of $48.68 billion. Chevron had a return on equity of 13.70% and a net margin of 9.31%. Chevron’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period in the prior year, the firm posted $3.08 EPS. As a group, analysts expect that Chevron Co. will post 11.09 earnings per share for the current year.

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 19th were paid a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 4.38%. The ex-dividend date of this dividend was Monday, August 19th. Chevron’s payout ratio is currently 59.98%.

Wall Street Analysts Forecast Growth

CVX has been the topic of a number of research analyst reports. Wells Fargo & Company lowered their price target on Chevron from $196.00 to $169.00 and set an “overweight” rating on the stock in a report on Friday, September 27th. UBS Group raised their target price on shares of Chevron from $189.00 to $192.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. Wolfe Research assumed coverage on shares of Chevron in a research note on Thursday, July 18th. They issued a “peer perform” rating for the company. Truist Financial decreased their price objective on shares of Chevron from $154.00 to $150.00 and set a “hold” rating for the company in a report on Monday, September 30th. Finally, Sanford C. Bernstein cut Chevron from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $183.00 to $167.00 in a report on Wednesday, July 17th. Six analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $176.81.

Get Our Latest Stock Report on Chevron

Chevron Company 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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