Chevron Co. (NYSE:CVX) Shares Bought by Mechanics Bank Trust Department

Mechanics Bank Trust Department increased its position in shares of Chevron Co. (NYSE:CVX) by 1.2% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 63,559 shares of the oil and gas company’s stock after buying an additional 750 shares during the quarter. Chevron comprises approximately 1.4% of Mechanics Bank Trust Department’s portfolio, making the stock its 18th largest position. Mechanics Bank Trust Department’s holdings in Chevron were worth $9,942,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of CVX. American Capital Advisory LLC lifted its stake in Chevron by 403.2% in the first quarter. American Capital Advisory LLC now owns 156 shares of the oil and gas company’s stock valued at $25,000 after buying an additional 125 shares during the last quarter. Bare Financial Services Inc acquired a new stake in Chevron during the fourth quarter worth approximately $27,000. Frank Rimerman Advisors LLC acquired a new position in Chevron in the fourth quarter valued at $30,000. Cooksen Wealth LLC acquired a new position in Chevron during the fourth quarter worth approximately $40,000. Finally, Clear Investment Research LLC raised its holdings in Chevron by 264.9% in the fourth quarter. Clear Investment Research LLC now owns 281 shares of the oil and gas company’s stock valued at $42,000 after buying an additional 204 shares during the period. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Chevron

In related news, VP Jeff B. Gustavson sold 3,750 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $160.23, for a total transaction of $600,862.50. Following the completion of the sale, the vice president now directly owns 477 shares in the company, valued at $76,429.71. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.20% of the stock is owned by corporate insiders.

Chevron Stock Up 0.3 %

Shares of NYSE:CVX traded up $0.50 during trading on Friday, hitting $144.99. The stock had a trading volume of 7,653,053 shares, compared to its average volume of 7,562,307. The company has a quick ratio of 0.93, a current ratio of 1.23 and a debt-to-equity ratio of 0.13. Chevron Co. has a 12 month low of $139.62 and a 12 month high of $171.70. The company has a market capitalization of $267.21 billion, a PE ratio of 13.34, a PEG ratio of 2.33 and a beta of 1.10. The firm’s fifty day moving average is $154.87 and its 200 day moving average is $156.14.

Chevron (NYSE:CVX) last released its earnings results on Friday, August 2nd. The oil and gas company reported $2.55 EPS for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). The company had revenue of $51.18 billion during the quarter, compared to analysts’ expectations of $48.68 billion. Chevron had a return on equity of 13.64% and a net margin of 9.31%. The company’s revenue was up 4.7% on a year-over-year basis. During the same period in the prior year, the company posted $3.08 earnings per share. Analysts anticipate that Chevron Co. will post 12.3 EPS for the current fiscal year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Monday, August 19th will be given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 4.50%. The ex-dividend date of this dividend is Monday, August 19th. Chevron’s dividend payout ratio (DPR) is presently 59.98%.

Analyst Ratings Changes

CVX has been the subject of a number of research analyst reports. Mizuho boosted their price target on Chevron from $200.00 to $205.00 and gave the company a “buy” rating in a report on Monday, May 13th. Royal Bank of Canada cut their target price on shares of Chevron from $190.00 to $180.00 and set an “outperform” rating for the company in a research note on Monday, August 5th. Scotiabank dropped their price target on Chevron from $195.00 to $180.00 and set a “sector outperform” rating on the stock in a research note on Friday, July 12th. Truist Financial lowered their price objective on shares of Chevron from $156.00 to $154.00 and set a “hold” rating on the stock in a research report on Monday, August 5th. Finally, HSBC increased their target price on shares of Chevron from $175.00 to $178.00 and gave the stock a “buy” rating in a research report on Tuesday, April 30th. Seven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, Chevron currently has an average rating of “Moderate Buy” and an average price target of $183.82.

Chevron Profile

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.