Chevron Corporation $CVX Shares Sold by Tompkins Financial Corp

by · The Cerbat Gem

Tompkins Financial Corp trimmed its stake in shares of Chevron Corporation (NYSE:CVX – Free Report) by 11.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 17,993 shares of the oil and gas company’s stock after selling 2,394 shares during the period. Tompkins Financial Corp’s holdings in Chevron were worth $2,576,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of CVX. Bank Pictet & Cie Europe AG boosted its position in shares of Chevron by 7.9% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 35,985 shares of the oil and gas company’s stock worth $5,212,000 after buying an additional 2,641 shares in the last quarter. State of Wyoming raised its position in Chevron by 662.3% during the fourth quarter. State of Wyoming now owns 2,226 shares of the oil and gas company’s stock worth $322,000 after acquiring an additional 1,934 shares during the last quarter. Two Sigma Investments LP lifted its holdings in shares of Chevron by 84.5% in the fourth quarter. Two Sigma Investments LP now owns 35,171 shares of the oil and gas company’s stock valued at $5,094,000 after purchasing an additional 16,104 shares in the last quarter. Woodline Partners LP acquired a new stake in shares of Chevron in the fourth quarter valued at approximately $14,537,000. Finally, Waverly Advisors LLC increased its stake in shares of Chevron by 24.7% during the 4th quarter. Waverly Advisors LLC now owns 77,200 shares of the oil and gas company’s stock worth $11,182,000 after purchasing an additional 15,274 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Insider Activity at Chevron

In related news, VP Alana K. Knowles sold 3,978 shares of the business’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 transaction of $636,480.00. Following the transaction, the vice president directly owned 1,181 shares of the company’s stock, valued at approximately $188,960. The trade was a 77.11% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director John B. Hess sold 375,000 shares of the stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $158.30, for a total transaction of $59,362,500.00. Following the completion of the sale, the director directly owned 1,403,045 shares of the company’s stock, valued at $222,102,023.50. This trade represents a 21.09% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.21% of the company’s stock.

Chevron Stock Performance

Shares of CVX stock opened at $159.98 on Thursday. The company has a current ratio of 1.00, a quick ratio of 0.74 and a debt-to-equity ratio of 0.16. The company has a market cap of $276.44 billion, a PE ratio of 20.59, a P/E/G ratio of 2.00 and a beta of 0.90. The company’s fifty day simple moving average is $155.13 and its 200-day simple moving average is $148.94. Chevron Corporation has a 52 week low of $132.04 and a 52 week high of $168.96.

Chevron (NYSE:CVX – Get Free Report) last announced its quarterly earnings results on Friday, August 1st. The oil and gas company reported $1.77 earnings per share for the quarter, topping 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 firm had revenue of $44.82 billion during the quarter, compared to analysts’ expectations of $44.59 billion. During the same period in the prior year, the company earned $2.55 EPS. The firm’s revenue was down 12.4% on a year-over-year basis. As a group, equities research analysts anticipate that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th were issued a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 4.3%. The ex-dividend date was Tuesday, August 19th. Chevron’s dividend payout ratio (DPR) is presently 88.03%.

Analyst Ratings Changes

CVX has been the topic of a number of recent research reports. Raymond James Financial reaffirmed an “outperform” rating on shares of Chevron in a research note on Friday, August 1st. Scotiabank restated a “sector perform” rating and issued a $160.00 price objective (up from $143.00) on shares of Chevron in a research report on Friday, July 11th. UBS Group lifted their price objective on Chevron from $186.00 to $197.00 and gave the stock a “buy” rating in a research report on Wednesday, August 20th. Mizuho cut their target price on shares of Chevron from $192.00 to $191.00 and set an “outperform” rating for the company in a research note on Monday. Finally, Bank of America raised their price target on shares of Chevron from $170.00 to $185.00 and gave the stock a “buy” rating in a research note on Wednesday, September 10th. Eleven research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $165.05.

Check Out Our Latest Stock Analysis on CVX

Chevron 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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