Chevron Corp. (CVX) Shares Sold by Orrstown Financial Services Inc.
Orrstown Financial Services Inc. decreased its position in shares of Chevron Corp. (NYSE:CVX) by 2.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 13,293 shares of the company’s stock after selling 403 shares during the period. Chevron Corp. comprises about 1.5% of Orrstown Financial Services Inc.’s investment portfolio, making the stock its 17th largest position. Orrstown Financial Services Inc.’s holdings in Chevron Corp. were worth $1,394,000 as of its most recent SEC filing.
A number of other large investors also recently added to or reduced their stakes in CVX. RPg Family Wealth Advisory LLC increased its stake in Chevron Corp. by 14.5% in the first quarter. RPg Family Wealth Advisory LLC now owns 1,058 shares of the company’s stock worth $101,000 after buying an additional 134 shares during the last quarter. Marshall & Sullivan Inc. WA increased its stake in Chevron Corp. by 4.0% in the first quarter. Marshall & Sullivan Inc. WA now owns 1,825 shares of the company’s stock worth $174,000 after buying an additional 71 shares during the last quarter. Sterling Investment Advisors LLC ADV bought a new stake in Chevron Corp. during the second quarter worth $203,000. Stillwater Capital Advisors LLC bought a new stake in Chevron Corp. during the second quarter worth $204,000. Finally, Keel Point LLC bought a new stake in Chevron Corp. during the second quarter worth $206,000. 62.24% of the stock is currently owned by institutional investors.
Chevron Corp. (NYSE:CVX) traded down 0.90% during mid-day trading on Tuesday, hitting $103.04. 5,337,338 shares of the company were exchanged. The company’s 50-day moving average is $101.02 and its 200 day moving average is $101.21. The company’s market capitalization is $194.39 billion. Chevron Corp. has a 12-month low of $75.33 and a 12-month high of $107.58.
Chevron Corp. (NYSE:CVX) last released its quarterly earnings results on Friday, July 29th. The company reported ($0.78) earnings per share for the quarter, missing the consensus estimate of $0.32 by $1.10. Chevron Corp. had a positive return on equity of 1.07% and a negative net margin of 0.64%. The firm had revenue of $29.28 billion for the quarter, compared to analysts’ expectations of $25.78 billion. During the same quarter last year, the firm posted $0.30 earnings per share. The firm’s revenue for the quarter was down 27.4% compared to the same quarter last year. Analysts expect that Chevron Corp. will post $1.31 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, September 12th. Investors of record on Friday, August 19th were issued a dividend of $1.07 per share. This represents a $4.28 annualized dividend and a yield of 4.15%. The ex-dividend date of this dividend was Wednesday, August 17th. Chevron Corp.’s dividend payout ratio (DPR) is presently -1,097.44%.
A number of equities research analysts have weighed in on the company. Vetr downgraded Chevron Corp. from a “buy” rating to a “hold” rating and set a $106.39 price objective on the stock. in a report on Monday, June 27th. Credit Suisse Group AG reaffirmed a “neutral” rating and set a $105.00 price objective on shares of Chevron Corp. in a report on Saturday, August 13th. Jefferies Group reaffirmed a “buy” rating on shares of Chevron Corp. in a report on Friday, August 5th. Simmons raised Chevron Corp. from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $110.00 to $117.00 in a report on Tuesday, August 9th. Finally, Zacks Investment Research raised Chevron Corp. from a “hold” rating to a “buy” rating and set a $118.00 price objective on the stock in a report on Tuesday, July 12th. Thirteen equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $105.09.
In other news, Director Inge G. Thulin purchased 487 shares of the business’s stock in a transaction that occurred on Monday, August 15th. The shares were acquired at an average cost of $102.87 per share, for a total transaction of $50,097.69. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jeanette L. Ourada sold 7,000 shares of the business’s stock in a transaction dated Thursday, August 25th. The stock was sold at an average price of $101.70, for a total transaction of $711,900.00. Following the transaction, the insider now owns 7,535 shares in the company, valued at $766,309.50. The disclosure for this sale can be found here. Corporate insiders own 0.40% of the company’s stock.
Chevron Corp. Company Profile
Chevron Corporation (Chevron) manages its investments in subsidiaries and affiliates and provides administrative, financial, management and technology support to the United States and international subsidiaries that engage in integrated energy and chemicals operations. The Company operates through two business segments: Upstream and Downstream.
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