Chevron Corporation $CVX Shares Purchased by Community Bank N.A.

by · The Cerbat Gem

Community Bank N.A. lifted its stake in Chevron Corporation (NYSE:CVX – Free Report) by 0.2% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 33,803 shares of the oil and gas company’s stock after acquiring an additional 75 shares during the quarter. Community Bank N.A.’s holdings in Chevron were worth $4,840,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in CVX. Harvest Fund Management Co. Ltd lifted its holdings in Chevron by 420.7% during the 1st quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company’s stock worth $25,000 after buying an additional 122 shares in the last quarter. Elequin Capital LP purchased a new stake in shares of Chevron during the first quarter worth $31,000. Cloud Capital Management LLC acquired a new stake in shares of Chevron in the first quarter valued at $39,000. Investment Management Corp VA ADV boosted its holdings in Chevron by 171.3% in the first quarter. Investment Management Corp VA ADV now owns 236 shares of the oil and gas company’s stock valued at $39,000 after purchasing an additional 149 shares during the period. Finally, GFG Capital LLC purchased a new position in Chevron in the second quarter valued at $42,000. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CVX has been the topic of several recent research reports. Evercore ISI restated an “outperform” rating and set a $180.00 price target on shares of Chevron in a report on Thursday, July 31st. Raymond James Financial restated an “outperform” rating on shares of Chevron in a report on Friday, August 1st. Melius initiated coverage on Chevron in a report on Wednesday, August 20th. They set a “hold” rating and a $155.00 price target on the stock. Barclays cut their price target on Chevron from $160.00 to $158.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 7th. Finally, Mizuho cut their price target on Chevron from $192.00 to $191.00 and set an “outperform” rating on the stock in a report on Monday, September 15th. Eleven analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $165.40.

Get Our Latest Stock Analysis on CVX

Chevron Trading Up 2.0%

CVX opened at $151.86 on Tuesday. Chevron Corporation has a one year low of $132.04 and a one year high of $168.96. The company has a market cap of $262.42 billion, a P/E ratio of 19.54, a PEG ratio of 1.93 and a beta of 0.84. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.74 and a current ratio of 1.00. The business’s 50-day simple moving average is $156.12 and its 200-day simple moving average is $148.31.

Chevron (NYSE:CVX – Get Free Report) last released its quarterly earnings data on Friday, August 1st. The oil and gas company reported $1.77 EPS for the quarter, beating analysts’ consensus estimates of $1.58 by $0.19. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The business had revenue of $44.82 billion for the quarter, compared to the consensus estimate of $44.59 billion. During the same quarter in the prior year, the business posted $2.55 EPS. The business’s revenue for the quarter was down 12.4% on a year-over-year basis. As a group, equities research analysts expect that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th were issued a $1.71 dividend. The ex-dividend date was Tuesday, August 19th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.5%. Chevron’s dividend payout ratio is presently 88.03%.

Insider Transactions at Chevron

In related news, Director John B. Hess sold 375,000 shares of the firm’s stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $158.30, for a total transaction of $59,362,500.00. Following the transaction, the director owned 1,403,045 shares in the company, valued at $222,102,023.50. This trade represents a 21.09% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Alana K. Knowles sold 3,978 shares of the firm’s stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $160.00, for a total value of $636,480.00. Following the transaction, the vice president owned 1,181 shares in the company, valued at $188,960. This represents a 77.11% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.20% of the company’s stock.

Chevron Company Profile

(Free Report)

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.

See Also

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