HTLF Bank Sells 2,305 Shares of Chevron Co. (NYSE:CVX)

HTLF Bank trimmed its position in Chevron Co. (NYSE:CVX) by 4.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 55,011 shares of the oil and gas company’s stock after selling 2,305 shares during the period. Chevron makes up approximately 1.0% of HTLF Bank’s investment portfolio, making the stock its 23rd largest holding. HTLF Bank’s holdings in Chevron were worth $8,605,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Berkshire Hathaway Inc increased its position in shares of Chevron by 14.4% in the fourth quarter. Berkshire Hathaway Inc now owns 126,093,326 shares of the oil and gas company’s stock valued at $18,808,081,000 after acquiring an additional 15,845,037 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Chevron by 8.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 26,235,473 shares of the oil and gas company’s stock worth $3,886,821,000 after buying an additional 1,999,332 shares during the last quarter. Norges Bank acquired a new position in Chevron during the fourth quarter worth approximately $2,902,007,000. Bank of New York Mellon Corp increased its position in Chevron by 4.2% during the first quarter. Bank of New York Mellon Corp now owns 16,103,302 shares of the oil and gas company’s stock worth $2,540,135,000 after buying an additional 654,482 shares during the last quarter. Finally, Capital World Investors increased its position in Chevron by 3.2% during the first quarter. Capital World Investors now owns 16,009,766 shares of the oil and gas company’s stock worth $2,525,380,000 after buying an additional 495,879 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors.

Chevron Price Performance

Shares of NYSE:CVX traded up $1.18 during trading on Friday, hitting $146.91. 380,351 shares of the company were exchanged, compared to its average volume of 7,786,259. The business’s 50 day moving average is $153.07 and its 200-day moving average is $155.82. The company has a market capitalization of $270.75 billion, a P/E ratio of 13.41, a price-to-earnings-growth ratio of 2.46 and a beta of 1.10. The company has a quick ratio of 0.85, a current ratio of 1.16 and a debt-to-equity ratio of 0.13. Chevron Co. has a 1-year low of $139.62 and a 1-year high of $171.70.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). The company had revenue of $51.18 billion during the quarter, compared to analyst estimates of $48.68 billion. Chevron had a net margin of 9.31% and a return on equity of 13.70%. The business’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.08 earnings per share. Equities analysts forecast that Chevron Co. will post 11.96 earnings per share for the current year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th will be issued a dividend of $1.63 per share. The ex-dividend date of this dividend is Monday, August 19th. This represents a $6.52 dividend on an annualized basis and a yield of 4.44%. Chevron’s payout ratio is currently 59.98%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. TD Cowen boosted their price objective on Chevron from $155.00 to $160.00 and gave the stock a “hold” rating in a report on Monday, April 29th. Sanford C. Bernstein cut Chevron from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $183.00 to $167.00 in a report on Wednesday, July 17th. HSBC boosted their price objective on Chevron from $175.00 to $178.00 and gave the stock a “buy” rating in a report on Tuesday, April 30th. Mizuho boosted their price objective on Chevron from $200.00 to $205.00 and gave the stock a “buy” rating in a report on Monday, May 13th. Finally, Barclays reduced their price objective on Chevron from $203.00 to $185.00 and set an “overweight” rating for the company in a report on Tuesday, August 6th. Seven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $183.82.

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.