Trustmark National Bank Trust Department Lowers Stock Position in Chevron Co. (NYSE:CVX)

Trustmark National Bank Trust Department lowered its position in Chevron Co. (NYSE:CVX - Free Report) by 23.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 31,964 shares of the oil and gas company's stock after selling 9,713 shares during the quarter. Trustmark National Bank Trust Department's holdings in Chevron were worth $4,707,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. purchased a new position in Chevron in the first quarter valued at about $566,000. Capital International Inc. CA boosted its stake in shares of Chevron by 11.7% in the first quarter. Capital International Inc. CA now owns 125,640 shares of the oil and gas company's stock valued at $19,818,000 after purchasing an additional 13,135 shares during the period. Canada Pension Plan Investment Board increased its stake in Chevron by 10.9% during the 1st quarter. Canada Pension Plan Investment Board now owns 554,754 shares of the oil and gas company's stock worth $87,507,000 after buying an additional 54,744 shares during the period. Stonebridge Capital Advisors LLC lifted its holdings in Chevron by 6.7% in the 1st quarter. Stonebridge Capital Advisors LLC now owns 88,564 shares of the oil and gas company's stock worth $13,970,000 after buying an additional 5,538 shares in the last quarter. Finally, Gamco Investors INC. ET AL boosted its position in Chevron by 6.0% in the 1st quarter. Gamco Investors INC. ET AL now owns 27,377 shares of the oil and gas company's stock valued at $4,318,000 after buying an additional 1,552 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company's stock.

Chevron Stock Performance

Shares of CVX stock opened at $161.30 on Thursday. The business has a 50 day simple moving average of $150.70 and a 200 day simple moving average of $152.63. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. The firm has a market capitalization of $289.87 billion, a price-to-earnings ratio of 17.73, a price-to-earnings-growth ratio of 3.59 and a beta of 1.09. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $167.11.

Chevron (NYSE:CVX - Get Free Report) last posted its quarterly earnings data on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.47 by $0.04. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The business had revenue of $50.67 billion during the quarter, compared to analysts' expectations of $48.86 billion. During the same period last year, the firm posted $3.05 earnings per share. The business's revenue was down 6.3% on a year-over-year basis. On average, equities research analysts anticipate that Chevron Co. will post 10.55 EPS for the current year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th will be issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 4.04%. The ex-dividend date of this dividend is Monday, November 18th. Chevron's payout ratio is 71.65%.

Insider Activity

In related news, CEO Michael K. Wirth sold 164,600 shares of Chevron stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $160.13, for a total value of $26,357,398.00. Following the transaction, the chief executive officer now directly owns 4,280 shares in the company, valued at $685,356.40. The trade was a 97.47 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.20% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently commented on CVX. Bank of America assumed coverage on Chevron in a report on Thursday, October 17th. They issued a "buy" rating and a $168.00 price target for the company. Wells Fargo & Company decreased their price target on shares of Chevron from $196.00 to $169.00 and set an "overweight" rating for the company in a research report on Friday, September 27th. Barclays upped their price target on shares of Chevron from $168.00 to $174.00 and gave the company an "overweight" rating in a report on Monday, November 4th. DZ Bank raised shares of Chevron from a "hold" rating to a "buy" rating and set a $170.00 price objective for the company in a report on Tuesday, November 5th. Finally, Mizuho cut their target price on shares of Chevron from $205.00 to $189.00 and set an "outperform" rating on the stock in a research note on Monday, September 16th. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $174.93.

About Chevron

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.

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