Atlantic Union Bankshares Corp Grows Stock Holdings in Chevron Co. (NYSE:CVX)

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Atlantic Union Bankshares Corp grew its position in Chevron Co. (NYSE:CVX) by 75.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 99,989 shares of the oil and gas company’s stock after purchasing an additional 42,866 shares during the period. Chevron comprises about 1.7% of Atlantic Union Bankshares Corp’s holdings, making the stock its 11th largest position. Atlantic Union Bankshares Corp’s holdings in Chevron were worth $12,443,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of CVX. Huntington National Bank boosted its stake in Chevron by 1.9% during the 2nd quarter. Huntington National Bank now owns 396,680 shares of the oil and gas company’s stock valued at $49,363,000 after purchasing an additional 7,478 shares during the period. Granite Investment Advisors LLC lifted its position in shares of Chevron by 62.2% in the 2nd quarter. Granite Investment Advisors LLC now owns 9,053 shares of the oil and gas company’s stock worth $1,127,000 after acquiring an additional 3,470 shares during the period. Strategic Investment Advisors MI lifted its position in shares of Chevron by 13.7% in the 2nd quarter. Strategic Investment Advisors MI now owns 6,021 shares of the oil and gas company’s stock worth $743,000 after acquiring an additional 726 shares during the period. Landsberg Bennett & Dubbaneh LLC lifted its position in shares of Chevron by 1.7% in the 2nd quarter. Landsberg Bennett & Dubbaneh LLC now owns 5,051 shares of the oil and gas company’s stock worth $631,000 after acquiring an additional 86 shares during the period. Finally, CHICAGO TRUST Co NA lifted its position in shares of Chevron by 2.9% in the 2nd quarter. CHICAGO TRUST Co NA now owns 37,049 shares of the oil and gas company’s stock worth $4,610,000 after acquiring an additional 1,048 shares during the period. 65.90% of the stock is currently owned by institutional investors.

A number of equities analysts have recently issued reports on the company. Zacks Investment Research cut Chevron from a “buy” rating to a “hold” rating in a report on Tuesday, May 7th. Morgan Stanley dropped their price target on Chevron from $146.00 to $144.00 and set an “overweight” rating for the company in a report on Friday, July 12th. Finally, Citigroup started coverage on Chevron in a report on Monday, May 13th. They set a “buy” rating and a $135.00 price target for the company. Five equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $135.41.

In other news, Chairman Michael K. Wirth sold 33,750 shares of the company’s stock in a transaction on Friday, June 21st. The shares were sold at an average price of $125.60, for a total transaction of $4,239,000.00. Following the completion of the transaction, the chairman now directly owns 33,750 shares in the company, valued at $4,239,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Enrique Hernandez, Jr. sold 2,100 shares of the company’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $121.75, for a total transaction of $255,675.00. Following the transaction, the director now owns 15,689 shares of the company’s stock, valued at $1,910,135.75. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 53,850 shares of company stock valued at $6,704,375. Corporate insiders own 0.31% of the company’s stock.

Shares of Chevron stock opened at $116.95 on Friday. The firm has a market cap of $223.52 billion, a price-to-earnings ratio of 14.18, a price-to-earnings-growth ratio of 2.96 and a beta of 1.00. The stock’s 50-day moving average is $123.31 and its 200-day moving average is $121.51. Chevron Co. has a one year low of $100.22 and a one year high of $127.60. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.15 and a quick ratio of 0.91.

Chevron (NYSE:CVX) last released its earnings results on Friday, August 2nd. The oil and gas company reported $2.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.74 by $0.53. Chevron had a return on equity of 9.58% and a net margin of 9.18%. The business had revenue of $38.85 billion for the quarter, compared to the consensus estimate of $40.14 billion. During the same quarter in the previous year, the business earned $1.78 earnings per share. Chevron’s quarterly revenue was down 8.0% on a year-over-year basis. On average, equities analysts expect that Chevron Co. will post 6.84 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th will be issued a dividend of $1.19 per share. This represents a $4.76 dividend on an annualized basis and a dividend yield of 4.07%. The ex-dividend date of this dividend is Friday, August 16th. Chevron’s dividend payout ratio is presently 57.70%.

About Chevron

Chevron Corporation, through its subsidiaries, engages in integrated energy, chemicals, and petroleum operations worldwide. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, and production of crude oil and natural gas; processing, liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and transportation, storage, and marketing of natural gas, as well as operates a gas-to-liquids plant.

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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