Sanibel Captiva Trust Company Inc. Has $23.71 Million Position in Chevron Co. (NYSE:CVX)

Sanibel Captiva Trust Company Inc. increased its position in shares of Chevron Co. (NYSE:CVX) by 6.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 151,581 shares of the oil and gas company’s stock after acquiring an additional 8,972 shares during the period. Sanibel Captiva Trust Company Inc.’s holdings in Chevron were worth $23,710,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the company. American Capital Advisory LLC boosted its position in shares of 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 acquiring an additional 125 shares during the period. Bare Financial Services Inc acquired a new stake in shares of Chevron in the fourth quarter valued at approximately $27,000. Frank Rimerman Advisors LLC acquired a new position in shares of Chevron during the fourth quarter valued at $30,000. Cooksen Wealth LLC acquired a new position in Chevron in the fourth quarter valued at approximately $40,000. Finally, Clear Investment Research LLC boosted its holdings in Chevron by 264.9% during the fourth quarter. Clear Investment Research LLC now owns 281 shares of the oil and gas company’s stock worth $42,000 after buying an additional 204 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Wall Street Analysts Forecast Growth

CVX has been the subject of a number of research reports. Mizuho increased their target price on Chevron from $200.00 to $205.00 and gave the stock a “buy” rating in a research note on Monday, May 13th. HSBC lifted their price target on Chevron from $175.00 to $178.00 and gave the stock a “buy” rating in a report on Tuesday, April 30th. Scotiabank lowered their price target on shares of Chevron from $195.00 to $180.00 and set a “sector outperform” rating on the stock in a report on Friday, July 12th. Truist Financial lowered their price target 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, Wells Fargo & Company upped their target price on Chevron from $198.00 to $206.00 and gave the company an “overweight” rating in a research report on Tuesday, April 30th. Seven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $183.82.

Chevron Stock Performance

Chevron stock traded down $2.14 during trading on Tuesday, reaching $144.69. The company had a trading volume of 7,485,932 shares, compared to its average volume of 7,868,223. The firm’s 50-day simple moving average is $153.62 and its 200 day simple moving average is $156.01. The company has a current ratio of 1.16, a quick ratio of 0.85 and a debt-to-equity ratio of 0.13. Chevron Co. has a 52 week low of $139.62 and a 52 week high of $171.70. The firm has a market capitalization of $266.66 billion, a price-to-earnings ratio of 13.32, a price-to-earnings-growth ratio of 2.42 and a beta of 1.10.

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). Chevron had a net margin of 9.31% and a return on equity of 13.70%. The business had revenue of $51.18 billion for the quarter, compared to the consensus estimate of $48.68 billion. During the same period in the prior year, the company posted $3.08 EPS. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. Sell-side analysts forecast that Chevron Co. will post 11.96 earnings per share for the current fiscal year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th will be issued a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.51%. The ex-dividend date of this dividend is Monday, August 19th. Chevron’s dividend payout ratio (DPR) 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.