FARMERS & MERCHANTS TRUST Co OF LONG BEACH Sells 93 Shares of Chevron Co. (NYSE:CVX)

FARMERS & MERCHANTS TRUST Co OF LONG BEACH lessened its holdings in shares of Chevron Co. (NYSE:CVX) by 0.2% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 39,477 shares of the oil and gas company’s stock after selling 93 shares during the quarter. Chevron makes up approximately 1.5% of FARMERS & MERCHANTS TRUST Co OF LONG BEACH’s portfolio, making the stock its 14th largest holding. FARMERS & MERCHANTS TRUST Co OF LONG BEACH’s holdings in Chevron were worth $6,227,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CVX. Alps Advisors Inc. acquired a new stake in shares of Chevron in the third quarter worth $347,000. KPP Advisory Services LLC acquired a new stake in Chevron during the third quarter worth $632,000. Kelly Lawrence W & Associates Inc. CA boosted its stake in Chevron by 0.6% during the third quarter. Kelly Lawrence W & Associates Inc. CA now owns 21,257 shares of the oil and gas company’s stock worth $3,584,000 after buying an additional 124 shares in the last quarter. KADENSA CAPITAL Ltd acquired a new stake in Chevron during the third quarter worth $13,956,000. Finally, Seven Eight Capital LP acquired a new stake in Chevron during the third quarter worth $1,826,000. Institutional investors own 72.42% of the company’s stock.

Insider Activity at Chevron

In related news, Director Enrique Hernandez, Jr. sold 2,549 shares of the business’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $161.00, for a total value of $410,389.00. Following the completion of the transaction, the director now directly owns 7,647 shares in the company, valued at approximately $1,231,167. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Chevron news, Director Enrique Hernandez, Jr. sold 2,549 shares of the company’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $161.00, for a total transaction of $410,389.00. Following the completion of the transaction, the director now owns 7,647 shares of the company’s stock, valued at approximately $1,231,167. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Alana K. Knowles sold 2,800 shares of the company’s stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $165.00, for a total value of $462,000.00. Following the transaction, the vice president now directly owns 276 shares of the company’s stock, valued at approximately $45,540. The disclosure for this sale can be found here. In the last three months, insiders sold 16,746 shares of company stock worth $2,727,971. 0.20% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Wells Fargo & Company lifted their price target on shares of Chevron from $198.00 to $206.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 30th. TD Cowen lifted their price target on shares of Chevron from $155.00 to $160.00 and gave the stock a “hold” rating in a research note on Monday, April 29th. Mizuho boosted their target price on shares of Chevron from $200.00 to $205.00 and gave the company a “buy” rating in a research note on Monday, May 13th. HSBC boosted their target price on shares of Chevron from $175.00 to $178.00 and gave the company a “buy” rating in a research note on Tuesday, April 30th. Finally, Raymond James boosted their target price on shares of Chevron from $170.00 to $174.00 and gave the company an “outperform” rating in a research note on Monday, April 15th. Five research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $186.95.

Chevron Stock Performance

Shares of CVX stock opened at $156.75 on Wednesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.23 and a quick ratio of 0.93. The stock has a market cap of $288.89 billion, a PE ratio of 14.42, a price-to-earnings-growth ratio of 2.38 and a beta of 1.10. The stock has a 50-day moving average of $159.11 and a 200-day moving average of $154.82. Chevron Co. has a one year low of $139.62 and a one year high of $171.70.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, April 26th. The oil and gas company reported $2.93 EPS for the quarter, beating analysts’ consensus estimates of $2.84 by $0.09. The company had revenue of $48.72 billion during the quarter, compared to analysts’ expectations of $48.42 billion. Chevron had a return on equity of 14.40% and a net margin of 10.21%. Chevron’s revenue was down 4.1% on a year-over-year basis. During the same period in the prior year, the business posted $3.55 EPS. As a group, sell-side analysts expect that Chevron Co. will post 13.15 earnings per share for the current year.

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Friday, May 17th were given a $1.63 dividend. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $6.52 annualized dividend and a dividend yield of 4.16%. Chevron’s dividend payout ratio is presently 59.98%.

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.