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

Sanibel Captiva Trust Company Inc. raised its stake in Chevron Co. (NYSE:CVX) by 6.3% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 151,581 shares of the oil and gas company’s stock after purchasing an additional 8,972 shares during the quarter. Sanibel Captiva Trust Company Inc.’s holdings in Chevron were worth $23,710,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Kapstone Financial Advisors LLC boosted its holdings in shares of Chevron by 5.3% in the 4th quarter. Kapstone Financial Advisors LLC now owns 4,216 shares of the oil and gas company’s stock worth $626,000 after acquiring an additional 211 shares in the last quarter. Eagle Capital Management LLC lifted its stake in Chevron by 0.5% in the first quarter. Eagle Capital Management LLC now owns 34,455 shares of the oil and gas company’s stock valued at $5,435,000 after buying an additional 163 shares in the last quarter. Lane & Associates LLC bought a new position in Chevron during the 1st quarter worth about $345,000. Guyasuta Investment Advisors Inc. lifted its stake in Chevron by 1.7% in the 4th quarter. Guyasuta Investment Advisors Inc. now owns 216,593 shares of the oil and gas company’s stock valued at $32,307,000 after acquiring an additional 3,603 shares in the last quarter. Finally, Seven Mile Advisory grew its position in Chevron by 9.8% in the fourth quarter. Seven Mile Advisory now owns 2,766 shares of the oil and gas company’s stock valued at $413,000 after purchasing an additional 247 shares in the last quarter. Institutional investors own 72.42% of the company’s stock.

Chevron Stock Performance

Shares of NYSE CVX traded down $2.14 during midday trading on Tuesday, hitting $144.69. 7,485,932 shares of the company’s stock traded hands, compared to its average volume of 7,868,223. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.85 and a current ratio of 1.16. Chevron Co. has a 1 year low of $139.62 and a 1 year high of $171.70. The stock 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. The firm has a fifty day moving average of $153.62 and a 200 day moving average of $156.01.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share (EPS) 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 the consensus estimate of $48.68 billion. Chevron had a net margin of 9.31% and a return on equity of 13.70%. The company’s quarterly revenue was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.08 EPS. On average, analysts forecast that Chevron Co. will post 11.96 earnings per share for the current year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th will be paid a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 4.51%. The ex-dividend date is Monday, August 19th. Chevron’s dividend payout ratio is currently 59.98%.

Wall Street Analyst Weigh In

CVX has been the topic of several recent analyst reports. Barclays lowered their price objective on shares of Chevron from $203.00 to $185.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 6th. Mizuho increased their target price on shares of Chevron from $200.00 to $205.00 and gave the stock a “buy” rating in a research report on Monday, May 13th. Truist Financial cut their price objective on shares of Chevron from $156.00 to $154.00 and set a “hold” rating for the company in a research report on Monday, August 5th. Wolfe Research began coverage on Chevron in a research note on Thursday, July 18th. They issued a “peer perform” rating on the stock. Finally, Royal Bank of Canada lowered their price target on shares of Chevron from $190.00 to $180.00 and set an “outperform” rating for the company in a report on Monday, August 5th. Seven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus 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.