FARMERS & MERCHANTS TRUST Co OF LONG BEACH Lowers Stake in Chevron Corporation $CVX

FARMERS & MERCHANTS TRUST Co OF LONG BEACH cut its holdings in Chevron Corporation (NYSE:CVX) by 17.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 38,727 shares of the oil and gas company’s stock after selling 8,050 shares during the quarter. Chevron comprises approximately 1.3% of FARMERS & MERCHANTS TRUST Co OF LONG BEACH’s portfolio, making the stock its 18th largest holding. FARMERS & MERCHANTS TRUST Co OF LONG BEACH’s holdings in Chevron were worth $6,014,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in CVX. Berkshire Hathaway Inc raised its stake in Chevron by 2.9% during the 2nd quarter. Berkshire Hathaway Inc now owns 122,064,792 shares of the oil and gas company’s stock valued at $17,478,458,000 after acquiring an additional 3,454,258 shares during the last quarter. Kingstone Capital Partners Texas LLC increased its holdings in shares of Chevron by 652,139.5% in the second quarter. Kingstone Capital Partners Texas LLC now owns 83,714,936 shares of the oil and gas company’s stock valued at $13,214,757,000 after purchasing an additional 83,702,101 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Chevron by 4.0% during the second quarter. Charles Schwab Investment Management Inc. now owns 34,772,753 shares of the oil and gas company’s stock worth $4,979,255,000 after purchasing an additional 1,342,723 shares during the last quarter. Fisher Asset Management LLC lifted its holdings in shares of Chevron by 1.9% during the second quarter. Fisher Asset Management LLC now owns 20,826,805 shares of the oil and gas company’s stock worth $2,982,190,000 after purchasing an additional 378,936 shares during the period. Finally, Norges Bank purchased a new position in Chevron in the 2nd quarter valued at $2,721,477,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Trading Up 0.8%

Shares of CVX opened at $163.66 on Wednesday. Chevron Corporation has a twelve month low of $132.04 and a twelve month high of $168.96. The company has a current ratio of 1.15, a quick ratio of 0.86 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $329.53 billion, a P/E ratio of 23.02, a PEG ratio of 10.20 and a beta of 0.70. The firm’s 50-day moving average is $152.68 and its two-hundred day moving average is $153.82.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, October 31st. The oil and gas company reported $1.85 EPS for the quarter, topping the consensus estimate of $1.71 by $0.14. The business had revenue of $48.17 billion for the quarter, compared to analyst estimates of $46.99 billion. Chevron had a return on equity of 8.74% and a net margin of 6.57%.The company’s quarterly revenue was down 1.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.48 EPS. On average, research analysts predict that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 10th. Shareholders of record on Tuesday, November 18th were issued a $1.71 dividend. The ex-dividend date of this dividend was Tuesday, November 18th. This represents a $6.84 annualized dividend and a yield of 4.2%. Chevron’s dividend payout ratio is 96.20%.

Insider Transactions at Chevron

In other news, insider Alana K. Knowles sold 7,956 shares of the firm’s stock in a transaction on Monday, January 5th. The stock was sold at an average price of $165.05, for a total value of $1,313,137.80. Following the completion of the transaction, the insider owned 1,207 shares in the company, valued at $199,215.35. This trade represents a 86.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Michael K. Wirth sold 320,700 shares of the business’s stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $162.99, for a total transaction of $52,270,893.00. Following the completion of the sale, the chief executive officer owned 14,450 shares in the company, valued at $2,355,205.50. This represents a 95.69% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 631,990 shares of company stock worth $99,716,808. Corporate insiders own 0.20% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on CVX shares. Freedom Capital cut shares of Chevron from a “hold” rating to a “strong sell” rating in a research note on Tuesday, January 6th. Mizuho boosted their price target on shares of Chevron from $204.00 to $206.00 and gave the stock an “outperform” rating in a research note on Friday, December 12th. Wall Street Zen downgraded shares of Chevron from a “hold” rating to a “sell” rating in a research report on Saturday. Citigroup lowered their price objective on Chevron from $185.00 to $179.00 and set a “buy” rating on the stock in a report on Monday, January 5th. Finally, Raymond James Financial reissued an “outperform” rating and set a $160.00 target price (down from $170.00) on shares of Chevron in a research note on Friday, October 17th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, nine have given a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $167.14.

Key Stories Impacting Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron is in talks to expand its oil license in Venezuela, positioning the company to increase production access in a large, underdeveloped hydrocarbon basin if negotiations succeed. Chevron (CVX) in Talks to Expand Oil License in Venezuela
• Positive Sentiment: Analysts and outlets highlight Chevron as a high-yield energy pick as oil rallies, which supports the stock as an income play and can attract dividend-seeking investors. Oil Is Surging Over $60 – Grab These Large Cap High-Yield Dividend Energy Giants Now
• Positive Sentiment: Fund manager Stephanie Link publicly added to Chevron on CNBC, a visible vote of confidence that can prompt follow-on buying from institutional and retail investors. Trade Tracker: Stephanie Link buys more Chevron
• Positive Sentiment: Chevron says accelerating Venezuelan crude exports could unlock up to ~$700M in annual cash flow by easing storage bottlenecks — a tangible near-term earnings/cash-flow catalyst if realized. Chevron Bets on Venezuela Oil to Unlock Up to $700M in Cash Flow
• Neutral Sentiment: Chevron is reported as part of a bidding/partnership group among frontrunners for Lukoil’s global assets — a move that could expand reserves and international scale but faces regulatory, sanction and execution uncertainty. Carlyle, Chevron-Quantum partnership among frontrunners for Lukoil assets, sources say
• Neutral Sentiment: Coverage pieces (Undercovered Dozen, Dogs of the Dow lists) raise visibility among value/dividend investors but are not immediate operational catalysts. Undercovered Dozen: Chevron, Coherent, Barrick Mining And More The Dogs of the Dow: 10 Downtrodden Dividends Paying Out Up to 6.8%
• Negative Sentiment: Geopolitical instability in Venezuela (reports of violence and U.S. involvement) raises operational, reputational and legal risks for expanding activity there; any deterioration could disrupt projects or trigger sanctions concerns. How Chevron played the long game for Venezuela’s oil reserves Defense Stocks Surge As The U.S. Reasserts Power In Latin America

Chevron Profile

Chevron Corporation (NYSE: CVX) is an American multinational energy company engaged in virtually all aspects of the oil and gas industry. As an integrated energy firm, Chevron’s core activities include upstream oil and natural gas exploration and production, midstream transportation and storage, downstream refining and marketing of fuels and lubricants, and petrochemical manufacturing through joint ventures and subsidiaries. The company markets fuels under brands such as Chevron, Texaco and Caltex and supplies a range of products and services to retail customers, industrial users and commercial fleets worldwide.

Chevron traces its corporate lineage to the early petroleum companies that eventually became Standard Oil of California and has evolved through significant mergers and restructurings, including the acquisitions of Gulf Oil and Texaco.