Stock Yards Bank & Trust Co. Has $48.03 Million Stock Holdings in Chevron Co. (NYSE:CVX)

Stock Yards Bank & Trust Co. lowered its stake in Chevron Co. (NYSE:CVX) by 1.8% during the second quarter, HoldingsChannel.com reports. The firm owned 307,072 shares of the oil and gas company’s stock after selling 5,724 shares during the period. Chevron makes up about 1.6% of Stock Yards Bank & Trust Co.’s holdings, making the stock its 14th biggest holding. Stock Yards Bank & Trust Co.’s holdings in Chevron were worth $48,032,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in CVX. Pacifica Partners Inc. grew its position in shares of Chevron by 1.8% during the 1st quarter. Pacifica Partners Inc. now owns 3,492 shares of the oil and gas company’s stock worth $546,000 after buying an additional 63 shares during the period. Private Wealth Management Group LLC boosted its stake in Chevron by 15.7% during the 1st quarter. Private Wealth Management Group LLC now owns 464 shares of the oil and gas company’s stock worth $73,000 after acquiring an additional 63 shares during the last quarter. Montz Harcus Wealth Management LLC increased its stake in Chevron by 2.2% in the second quarter. Montz Harcus Wealth Management LLC now owns 2,943 shares of the oil and gas company’s stock valued at $460,000 after purchasing an additional 63 shares in the last quarter. Hubbell Strickland Wealth Management LLC increased its stake in Chevron by 0.7% in the second quarter. Hubbell Strickland Wealth Management LLC now owns 9,493 shares of the oil and gas company’s stock valued at $1,485,000 after purchasing an additional 64 shares in the last quarter. Finally, Marks Group Wealth Management Inc raised its holdings in Chevron by 3.1% in the first quarter. Marks Group Wealth Management Inc now owns 2,148 shares of the oil and gas company’s stock worth $339,000 after purchasing an additional 65 shares during the period. 72.42% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on CVX shares. Barclays decreased their price target on shares of Chevron from $203.00 to $185.00 and set an “overweight” rating for the company in a report on Tuesday, August 6th. Royal Bank of Canada decreased their target price on Chevron from $190.00 to $180.00 and set an “outperform” rating for the company in a research note on Monday, August 5th. Mizuho dropped their price target on Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a research report on Monday. Wolfe Research began coverage on Chevron in a research report on Thursday, July 18th. They issued a “peer perform” rating for the company. Finally, Truist Financial dropped their target price on shares of Chevron from $156.00 to $154.00 and set a “hold” rating on the stock in a report on Monday, August 5th. Seven investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $182.88.

Chevron Price Performance

Shares of NYSE CVX opened at $142.11 on Tuesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.16 and a quick ratio of 0.85. The business has a 50-day moving average of $148.88 and a 200-day moving average of $154.68. The stock has a market capitalization of $259.91 billion, a price-to-earnings ratio of 13.07, a PEG ratio of 2.41 and a beta of 1.09. Chevron Co. has a fifty-two week low of $135.37 and a fifty-two week high of $171.70.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). The company had revenue of $51.18 billion during 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 firm’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.08 earnings per share. As a group, sell-side analysts predict that Chevron Co. will post 11.57 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were given a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 4.59%. The ex-dividend date of this dividend was Monday, August 19th. Chevron’s dividend payout ratio (DPR) is currently 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.