Midwest Trust Co Has $48.24 Million Stake in Chevron Corporation $CVX

Midwest Trust Co grew its stake in shares of Chevron Corporation (NYSE:CVX) by 9.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 310,643 shares of the oil and gas company’s stock after buying an additional 26,635 shares during the period. Midwest Trust Co’s holdings in Chevron were worth $48,240,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Castellan Group increased its position in shares of Chevron by 10.7% in the 2nd quarter. Castellan Group now owns 20,405 shares of the oil and gas company’s stock valued at $2,922,000 after buying an additional 1,965 shares in the last quarter. Ellis Investment Partners LLC grew its stake in Chevron by 4.6% in the second quarter. Ellis Investment Partners LLC now owns 4,246 shares of the oil and gas company’s stock valued at $608,000 after acquiring an additional 186 shares during the period. Almanack Investment Partners LLC. grew its stake in Chevron by 31.5% in the second quarter. Almanack Investment Partners LLC. now owns 5,969 shares of the oil and gas company’s stock valued at $855,000 after acquiring an additional 1,430 shares during the period. Welch Group LLC increased its holdings in shares of Chevron by 2.4% in the second quarter. Welch Group LLC now owns 419,880 shares of the oil and gas company’s stock worth $60,123,000 after acquiring an additional 9,703 shares in the last quarter. Finally, MGO One Seven LLC raised its position in shares of Chevron by 13.0% during the second quarter. MGO One Seven LLC now owns 29,077 shares of the oil and gas company’s stock worth $4,164,000 after purchasing an additional 3,353 shares during the period. 72.42% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Chevron news, CTO Thomas Ryder Booth sold 6,000 shares of the firm’s stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $178.43, for a total transaction of $1,070,580.00. Following the completion of the sale, the chief technology officer owned 476 shares of the company’s stock, valued at $84,932.68. This trade represents a 92.65% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider R. Hewitt Pate sold 41,134 shares of the company’s stock in a transaction on Friday, January 30th. The shares were sold at an average price of $176.40, for a total transaction of $7,256,037.60. Following the completion of the transaction, the insider owned 4,169 shares in the company, valued at approximately $735,411.60. This represents a 90.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 793,158 shares of company stock valued at $127,919,578. Insiders own 0.20% of the company’s stock.

Analysts Set New Price Targets

CVX has been the subject of several research analyst reports. TD Cowen boosted their price objective on Chevron from $160.00 to $168.00 and gave the company a “hold” rating in a research report on Monday, February 2nd. Sanford C. Bernstein raised their target price on shares of Chevron from $170.00 to $172.00 and gave the stock a “market perform” rating in a report on Monday, January 5th. Bank of America reduced their price target on shares of Chevron from $183.00 to $180.00 and set a “buy” rating for the company in a report on Thursday, December 11th. Argus set a $203.00 price objective on shares of Chevron in a report on Tuesday, February 3rd. Finally, Zacks Research raised shares of Chevron from a “strong sell” rating to a “hold” rating in a research note on Tuesday, December 23rd. Twelve research analysts have rated the stock with a Buy rating, seven have given a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $175.00.

Chevron Stock Performance

NYSE CVX opened at $182.70 on Tuesday. 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’s fifty day moving average price is $159.90 and its two-hundred day moving average price is $156.66. Chevron Corporation has a 1 year low of $132.04 and a 1 year high of $182.82. The firm has a market capitalization of $367.87 billion, a P/E ratio of 27.43, a price-to-earnings-growth ratio of 12.11 and a beta of 0.70.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, January 30th. The oil and gas company reported $1.52 EPS for the quarter, beating analysts’ consensus estimates of $1.44 by $0.08. The company had revenue of $45.79 billion during the quarter, compared to the consensus estimate of $48.18 billion. Chevron had a net margin of 6.51% and a return on equity of 8.23%. The company’s quarterly revenue was down 10.2% on a year-over-year basis. During the same quarter last year, the firm posted $2.06 EPS. As a group, research analysts anticipate that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 10th. Shareholders of record on Tuesday, February 17th will be paid a $1.78 dividend. This is a positive change from Chevron’s previous quarterly dividend of $1.71. This represents a $7.12 annualized dividend and a yield of 3.9%. The ex-dividend date is Tuesday, February 17th. Chevron’s dividend payout ratio is currently 102.70%.

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.