Trustmark National Bank Trust Department Sells 2,327 Shares of Chevron Co. (NYSE:CVX)

Trustmark National Bank Trust Department trimmed its stake in Chevron Co. (NYSE:CVX - Free Report) by 7.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 29,637 shares of the oil and gas company's stock after selling 2,327 shares during the period. Trustmark National Bank Trust Department's holdings in Chevron were worth $4,293,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Life Planning Partners Inc bought a new position in Chevron in the 4th quarter worth approximately $25,000. IMG Wealth Management Inc. acquired a new position in Chevron during the 4th quarter valued at $25,000. Mizuho Securities Co. Ltd. bought a new stake in Chevron in the 4th quarter valued at $29,000. Fairway Wealth LLC grew its position in Chevron by 75.9% in the 4th quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company's stock worth $30,000 after purchasing an additional 88 shares during the last quarter. Finally, New Wave Wealth Advisors LLC bought a new position in shares of Chevron during the 4th quarter worth about $39,000. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on CVX shares. Wells Fargo & Company decreased their target price on Chevron from $184.00 to $173.00 and set an "overweight" rating on the stock in a research report on Tuesday. Raymond James reduced their target price on Chevron from $180.00 to $175.00 and set an "outperform" rating for the company in a research report on Monday, February 3rd. Royal Bank of Canada restated an "outperform" rating and issued a $175.00 price objective on shares of Chevron in a research note on Monday, February 3rd. Truist Financial decreased their target price on shares of Chevron from $164.00 to $160.00 and set a "hold" rating on the stock in a research report on Tuesday, February 4th. Finally, Barclays dropped their price target on shares of Chevron from $174.00 to $171.00 and set an "overweight" rating for the company in a research report on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, five have given a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, Chevron currently has an average rating of "Moderate Buy" and a consensus price target of $169.50.

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Insider Transactions at Chevron

In related news, VP Jeff B. Gustavson sold 9,325 shares of the business's stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $152.50, for a total value of $1,422,062.50. Following the completion of the transaction, the vice president now owns 1,057 shares in the company, valued at $161,192.50. The trade was a 89.82 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.20% of the stock is owned by company insiders.

Chevron Price Performance

CVX stock traded down $0.77 during midday trading on Tuesday, reaching $134.55. 9,318,593 shares of the company's stock traded hands, compared to its average volume of 7,894,054. The company has a 50-day simple moving average of $154.99 and a two-hundred day simple moving average of $153.82. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. Chevron Co. has a 1-year low of $132.04 and a 1-year high of $168.96. The company has a market cap of $236.88 billion, a price-to-earnings ratio of 13.84, a PEG ratio of 1.46 and a beta of 0.93.

Chevron (NYSE:CVX - Get Free Report) last announced its earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share for the quarter, missing analysts' consensus estimates of $2.42 by ($0.36). Chevron had a net margin of 8.71% and a return on equity of 11.44%. During the same period last year, the business earned $3.45 earnings per share. On average, analysts anticipate that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 14th were paid a $1.71 dividend. The ex-dividend date was Friday, February 14th. This is an increase from Chevron's previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a dividend yield of 5.08%. Chevron's payout ratio is currently 70.37%.

Chevron Company 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.