Baker Boyer National Bank increased its stake in shares of Chevron Co. (NYSE:CVX – Free Report) by 12.1% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 6,338 shares of the oil and gas company’s stock after acquiring an additional 686 shares during the quarter. Chevron accounts for 0.4% of Baker Boyer National Bank’s portfolio, making the stock its 27th biggest position. Baker Boyer National Bank’s holdings in Chevron were worth $997,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also bought and sold shares of CVX. Rebalance LLC bought a new position in Chevron in the 4th quarter valued at $26,000. NewSquare Capital LLC grew its stake in Chevron by 52.3% in the 1st quarter. NewSquare Capital LLC now owns 195 shares of the oil and gas company’s stock valued at $32,000 after purchasing an additional 67 shares during the period. Artemis Wealth Advisors LLC bought a new position in Chevron in the 1st quarter valued at $33,000. Worth Asset Management LLC bought a new position in Chevron in the 1st quarter valued at $36,000. Finally, HBC Financial Services PLLC bought a new position in Chevron in the 1st quarter valued at $37,000. Institutional investors own 68.87% of the company’s stock.
Wall Street Analyst Weigh In
A number of research analysts have issued reports on CVX shares. StockNews.com started coverage on Chevron in a research note on Thursday, August 17th. They issued a “hold” rating for the company. HSBC increased their price target on Chevron from $180.00 to $184.00 in a research note on Wednesday, August 9th. JPMorgan Chase & Co. upgraded Chevron from an “underweight” rating to a “neutral” rating and increased their price target for the stock from $161.00 to $170.00 in a research note on Wednesday, May 31st. Piper Sandler cut their price target on Chevron from $196.00 to $188.00 in a research note on Tuesday, June 13th. Finally, Morgan Stanley increased their price target on Chevron from $197.00 to $198.00 and gave the stock an “equal weight” rating in a research note on Friday, August 18th. Seven equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $190.61.
Insider Buying and Selling
In related news, CFO Pierre R. Breber sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, August 11th. The stock was sold at an average price of $164.00, for a total transaction of $4,100,000.00. Following the transaction, the chief financial officer now directly owns 6,021 shares in the company, valued at approximately $987,444. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CFO Pierre R. Breber sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, August 11th. The stock was sold at an average price of $164.00, for a total transaction of $4,100,000.00. Following the transaction, the chief financial officer now directly owns 6,021 shares in the company, valued at approximately $987,444. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Jeff B. Gustavson sold 3,750 shares of the firm’s stock in a transaction that occurred on Thursday, August 3rd. The stock was sold at an average price of $160.88, for a total value of $603,300.00. Following the transaction, the vice president now owns 1,718 shares in the company, valued at $276,391.84. The disclosure for this sale can be found here. 0.18% of the stock is owned by corporate insiders.
Chevron Stock Performance
Shares of NYSE CVX opened at $167.22 on Tuesday. The stock has a market cap of $312.24 billion, a price-to-earnings ratio of 10.60, a P/E/G ratio of 0.88 and a beta of 1.18. The company has a current ratio of 1.43, a quick ratio of 1.13 and a debt-to-equity ratio of 0.13. Chevron Co. has a 1-year low of $140.46 and a 1-year high of $189.68. The stock’s 50-day moving average is $160.80 and its 200 day moving average is $160.15.
Chevron (NYSE:CVX – Get Free Report) last announced its quarterly earnings data on Friday, July 28th. The oil and gas company reported $3.08 earnings per share for the quarter, beating analysts’ consensus estimates of $2.95 by $0.13. The company had revenue of $48.90 billion for the quarter, compared to analysts’ expectations of $48 billion. Chevron had a return on equity of 19.48% and a net margin of 13.54%. Chevron’s revenue for the quarter was down 28.9% compared to the same quarter last year. During the same period last year, the firm posted $5.82 EPS. On average, sell-side analysts anticipate that Chevron Co. will post 13.23 EPS for the current fiscal year.
Chevron Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, September 11th. Investors of record on Friday, August 18th were issued a dividend of $1.51 per share. The ex-dividend date was Thursday, August 17th. This represents a $6.04 dividend on an annualized basis and a dividend yield of 3.61%. Chevron’s dividend payout ratio is 38.30%.
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; liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and processing, transportation, storage, and marketing of natural gas, as well as a gas-to-liquids plant.
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