Community Trust & Investment Co. Increases Position in Chevron Co. (NYSE:CVX)

Community Trust & Investment Co. boosted its holdings in Chevron Co. (NYSE:CVX) by 3.6% during the third quarter, Holdings Channel.com reports. The firm owned 115,708 shares of the oil and gas company’s stock after acquiring an additional 4,006 shares during the quarter. Community Trust & Investment Co.’s holdings in Chevron were worth $17,040,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Mainsail Financial Group LLC lifted its stake in shares of Chevron by 25.3% in the third quarter. Mainsail Financial Group LLC now owns 5,863 shares of the oil and gas company’s stock worth $877,000 after buying an additional 1,183 shares in the last quarter. Blossom Wealth Management lifted its stake in shares of Chevron by 9.5% in the third quarter. Blossom Wealth Management now owns 2,428 shares of the oil and gas company’s stock worth $358,000 after buying an additional 210 shares in the last quarter. BLB&B Advisors LLC lifted its stake in shares of Chevron by 2.6% in the third quarter. BLB&B Advisors LLC now owns 127,268 shares of the oil and gas company’s stock worth $18,743,000 after buying an additional 3,243 shares in the last quarter. Tempus Wealth Planning LLC lifted its stake in shares of Chevron by 31.1% in the third quarter. Tempus Wealth Planning LLC now owns 4,642 shares of the oil and gas company’s stock worth $684,000 after buying an additional 1,101 shares in the last quarter. Finally, Stanley Laman Group Ltd. lifted its stake in shares of Chevron by 1.9% in the third quarter. Stanley Laman Group Ltd. now owns 27,019 shares of the oil and gas company’s stock worth $3,979,000 after buying an additional 512 shares in the last quarter. Institutional investors own 72.42% of the company’s stock.

Chevron Stock Up 0.0 %

NYSE:CVX opened at $150.92 on Wednesday. The company has a market cap of $278.14 billion, a PE ratio of 13.88, a P/E/G ratio of 2.73 and a beta of 1.09. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $167.11. The company has a current ratio of 1.16, a quick ratio of 0.85 and a debt-to-equity ratio of 0.13. The company’s 50 day moving average is $146.32 and its two-hundred day moving average is $153.47.

Chevron (NYSE:CVX) last released its earnings results 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 company had revenue of $51.18 billion for the quarter, compared to analysts’ expectations of $48.68 billion. Chevron had a return on equity of 13.70% and a net margin of 9.31%. The firm’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. Analysts anticipate that Chevron Co. will post 10.95 EPS for the current year.

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders 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 4.32%. The ex-dividend date of this dividend was Monday, August 19th. Chevron’s payout ratio is 59.98%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. UBS Group upped their target price on shares of Chevron from $189.00 to $192.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Royal Bank of Canada restated an “outperform” rating and set a $170.00 price objective on shares of Chevron in a research report on Tuesday, October 8th. Scotiabank lowered their price objective on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. Wolfe Research began coverage on shares of Chevron in a research report on Thursday, July 18th. They set a “peer perform” rating on the stock. Finally, Wells Fargo & Company lowered their price objective on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating on the stock in a research report on Friday, September 27th. Five equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $173.07.

Chevron Company 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.