Mechanics Bank Trust Department Purchases 750 Shares of Chevron Co. (NYSE:CVX)

Mechanics Bank Trust Department increased its position in shares of Chevron Co. (NYSE:CVX) by 1.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 63,559 shares of the oil and gas company’s stock after acquiring an additional 750 shares during the period. Chevron makes up about 1.4% of Mechanics Bank Trust Department’s holdings, making the stock its 18th biggest position. Mechanics Bank Trust Department’s holdings in Chevron were worth $9,942,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. International Assets Investment Management LLC lifted its position in Chevron by 4.9% in the 4th quarter. International Assets Investment Management LLC now owns 21,470 shares of the oil and gas company’s stock valued at $3,202,000 after acquiring an additional 1,005 shares in the last quarter. Greylin Investment Management Inc increased its holdings in shares of Chevron by 4.9% in the fourth quarter. Greylin Investment Management Inc now owns 39,075 shares of the oil and gas company’s stock worth $5,828,000 after purchasing an additional 1,814 shares during the last quarter. Sequoia Financial Advisors LLC grew its position in Chevron by 37.0% in the fourth quarter. Sequoia Financial Advisors LLC now owns 67,648 shares of the oil and gas company’s stock worth $10,090,000 after acquiring an additional 18,280 shares in the last quarter. Rainsberger Wealth Advisors Inc. increased its stake in Chevron by 70.3% in the fourth quarter. Rainsberger Wealth Advisors Inc. now owns 7,716 shares of the oil and gas company’s stock worth $1,151,000 after purchasing an additional 3,185 shares during the period. Finally, PrairieView Partners LLC boosted its holdings in shares of Chevron by 55.3% in the fourth quarter. PrairieView Partners LLC now owns 1,429 shares of the oil and gas company’s stock valued at $213,000 after purchasing an additional 509 shares during the period. Institutional investors own 72.42% of the company’s stock.

Chevron Stock Performance

Shares of NYSE:CVX traded up $0.50 during midday trading on Friday, reaching $144.99. The company’s stock had a trading volume of 7,653,053 shares, compared to its average volume of 7,562,307. The stock has a fifty day moving average of $154.87 and a 200 day moving average of $156.14. The firm has a market capitalization of $267.21 billion, a PE ratio of 13.34, a P/E/G ratio of 2.33 and a beta of 1.10. 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 twelve month low of $139.62 and a twelve month high of $171.70.

Chevron (NYSE:CVX) last announced 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). Chevron had a net margin of 9.31% and a return on equity of 13.64%. The firm had revenue of $51.18 billion for the quarter, compared to analyst estimates of $48.68 billion. During the same period in the previous year, the company earned $3.08 EPS. Chevron’s revenue was up 4.7% compared to the same quarter last year. On average, equities analysts expect that Chevron Co. will post 12.3 EPS for the current fiscal year.

Chevron Announces Dividend

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

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on CVX. Piper Sandler lifted their price objective on shares of Chevron from $180.00 to $204.00 and gave the company an “overweight” rating in a report on Thursday, April 18th. Mizuho upped their price objective on Chevron from $200.00 to $205.00 and gave the stock a “buy” rating in a research note on Monday, May 13th. TD Cowen lifted their target price on Chevron from $155.00 to $160.00 and gave the company a “hold” rating in a research note on Monday, April 29th. HSBC increased their price target on shares of Chevron from $175.00 to $178.00 and gave the company a “buy” rating in a research report on Tuesday, April 30th. Finally, Raymond James boosted their price objective on shares of Chevron from $170.00 to $174.00 and gave the stock an “outperform” rating in a research note on Monday, April 15th. Seven equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $183.82.

Insiders Place Their Bets

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

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.