Stock Yards Bank & Trust Co. Raises Position in Chevron Co. (NYSE:CVX)

Stock Yards Bank & Trust Co. raised its holdings in shares of Chevron Co. (NYSE:CVX) by 3.6% in the third quarter, Holdings Channel.com reports. The firm owned 249,112 shares of the oil and gas company’s stock after purchasing an additional 8,610 shares during the period. Chevron comprises 1.6% of Stock Yards Bank & Trust Co.’s portfolio, making the stock its 22nd largest holding. Stock Yards Bank & Trust Co.’s holdings in Chevron were worth $25,272,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Sofos Investments Inc. boosted its stake in shares of Chevron by 10,500.0% during the 2nd quarter. Sofos Investments Inc. now owns 106 shares of the oil and gas company’s stock worth $116,000 after acquiring an additional 105 shares during the last quarter. Stonehage Fleming Financial Services Holdings Ltd bought a new stake in Chevron in the 2nd quarter valued at $30,000. Horan Securities Inc. increased its holdings in shares of Chevron by 196.0% in the 2nd quarter. Horan Securities Inc. now owns 296 shares of the oil and gas company’s stock worth $31,000 after buying an additional 196 shares during the last quarter. Newton One Investments LLC bought a new stake in shares of Chevron in the 2nd quarter worth about $34,000. Finally, Capital Directions Investment Advisors LLC increased its holdings in shares of Chevron by 66.7% in the 2nd quarter. Capital Directions Investment Advisors LLC now owns 375 shares of the oil and gas company’s stock worth $39,000 after buying an additional 150 shares during the last quarter. 65.55% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE:CVX traded up $0.89 during midday trading on Thursday, reaching $117.19. The company’s stock had a trading volume of 8,500,870 shares, compared to its average volume of 10,450,242. The firm has a market capitalization of $225.91 billion, a PE ratio of 22.62, a P/E/G ratio of 2.42 and a beta of 1.30. Chevron Co. has a twelve month low of $83.53 and a twelve month high of $118.08. The stock has a fifty day moving average of $109.21 and a 200 day moving average of $104.90. The company has a quick ratio of 1.03, a current ratio of 1.28 and a debt-to-equity ratio of 0.27.

Chevron (NYSE:CVX) last released its quarterly earnings data on Thursday, October 28th. The oil and gas company reported $2.96 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.21 by $0.75. The firm had revenue of $44.71 billion for the quarter, compared to analyst estimates of $40.89 billion. Chevron had a net margin of 7.10% and a return on equity of 7.95%. The business’s quarterly revenue was up 82.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.11 earnings per share. Sell-side analysts anticipate that Chevron Co. will post 8.35 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 10th. Stockholders of record on Thursday, November 18th will be paid a $1.34 dividend. The ex-dividend date of this dividend is Wednesday, November 17th. This represents a $5.36 dividend on an annualized basis and a dividend yield of 4.57%. Chevron’s payout ratio is currently 103.47%.

Several equities analysts recently commented on the stock. Societe Generale began coverage on shares of Chevron in a report on Friday, October 22nd. They set a “buy” rating and a $130.00 price target on the stock. Zacks Investment Research cut shares of Chevron from a “buy” rating to a “hold” rating and set a $100.00 price target for the company. in a research report on Tuesday, September 21st. DZ Bank lowered shares of Chevron from a “buy” rating to a “hold” rating and set a $110.00 price objective for the company. in a research note on Wednesday, August 4th. UBS Group upgraded shares of Chevron from a “neutral” rating to a “buy” rating and set a $125.00 price objective for the company in a research note on Monday, November 15th. Finally, TheStreet upgraded shares of Chevron from a “c” rating to a “b-” rating in a research note on Friday, July 30th. Ten analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat.com, Chevron has an average rating of “Buy” and an average price target of $121.23.

In related news, CEO Michael K. Wirth sold 52,500 shares of the stock in a transaction on Thursday, November 4th. The shares were sold at an average price of $113.79, for a total transaction of $5,973,975.00. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP James William Johnson sold 78,000 shares of the stock in a transaction on Wednesday, October 20th. The shares were sold at an average price of $113.13, for a total transaction of $8,824,140.00. The disclosure for this sale can be found here. Insiders sold 325,651 shares of company stock worth $37,293,688 in the last quarter. Company insiders own 0.29% of the company’s stock.

About Chevron

Chevron Corp. engages in the provision of administrative, financial management, and technology support for energy and chemical operations. It operates through the Upstream and Downstream segments. The Upstream segment consists of exploration, development, and production of crude oil and natural gas; liquefaction, transportation, and regasification associated with liquefied natural gas; transporting crude oil by major international oil export pipelines; processing, transporting, storage, and marketing of natural gas; and a gas-to-liquids plant.

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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