Baker Boyer National Bank Buys 840 Shares of Chevron Corporation $CVX

by · The Cerbat Gem

Baker Boyer National Bank lifted its stake in Chevron Corporation (NYSE:CVX – Free Report) by 34.8% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,251 shares of the oil and gas company’s stock after acquiring an additional 840 shares during the quarter. Baker Boyer National Bank’s holdings in Chevron were worth $466,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. RFG Advisory LLC grew its stake in shares of Chevron by 46.0% in the second quarter. RFG Advisory LLC now owns 48,036 shares of the oil and gas company’s stock worth $6,878,000 after acquiring an additional 15,141 shares during the period. Perfromance Wealth Partners LLC bought a new stake in Chevron during the second quarter valued at approximately $205,000. Axxcess Wealth Management LLC grew its position in shares of Chevron by 2.2% during the 2nd quarter. Axxcess Wealth Management LLC now owns 63,839 shares of the oil and gas company’s stock valued at $9,141,000 after acquiring an additional 1,378 shares during the period. Moran Wealth Management LLC bought a new stake in shares of Chevron during the 2nd quarter valued at $13,784,000. Finally, Elefante Mark B grew its position in shares of Chevron by 1.7% during the 2nd quarter. Elefante Mark B now owns 19,708 shares of the oil and gas company’s stock valued at $2,822,000 after acquiring an additional 325 shares during the period. 72.42% of the stock is currently owned by institutional investors.

Chevron Trading Up 2.0%

CVX stock opened at $151.86 on Tuesday. The company has a quick ratio of 0.74, a current ratio of 1.00 and a debt-to-equity ratio of 0.16. Chevron Corporation has a twelve month low of $132.04 and a twelve month high of $168.96. The stock has a market capitalization of $262.42 billion, a price-to-earnings ratio of 19.54, a price-to-earnings-growth ratio of 1.93 and a beta of 0.84. The firm’s fifty day simple moving average is $156.12 and its two-hundred day simple moving average is $148.31.

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

Chevron Announces Dividend

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

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Morgan Stanley started coverage on shares of Chevron in a report on Monday, August 4th. They set an “overweight” rating and a $174.00 price target on the stock. Jefferies Financial Group reissued a “buy” rating on shares of Chevron in a report on Friday, July 18th. UBS Group boosted their target price on shares of Chevron from $186.00 to $197.00 and gave the stock a “buy” rating in a report on Wednesday, August 20th. Barclays decreased their price target on shares of Chevron from $160.00 to $158.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 7th. Finally, Mizuho decreased their price target on shares of Chevron from $192.00 to $191.00 and set an “outperform” rating on the stock in a research note on Monday, September 15th. Eleven analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $165.40.

Get Our Latest Stock Analysis on Chevron

About Chevron

(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.

Featured Articles

Want to see what other hedge funds are holding CVX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Chevron Corporation (NYSE:CVX – Free Report).