Cutler Investment Counsel LLC Reduces Position in Chevron Corporation $CVX

by · The Markets Daily

Cutler Investment Counsel LLC decreased its holdings in Chevron Corporation (NYSE:CVX – Free Report) by 0.4% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 63,757 shares of the oil and gas company’s stock after selling 233 shares during the quarter. Cutler Investment Counsel LLC’s holdings in Chevron were worth $9,129,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CVX. Greenfield Savings Bank raised its holdings in Chevron by 0.6% in the second quarter. Greenfield Savings Bank now owns 11,611 shares of the oil and gas company’s stock worth $1,663,000 after purchasing an additional 68 shares in the last quarter. Atwater Malick LLC raised its holdings in Chevron by 2.4% in the second quarter. Atwater Malick LLC now owns 2,886 shares of the oil and gas company’s stock worth $413,000 after purchasing an additional 68 shares in the last quarter. Hubbell Strickland Wealth Management LLC raised its holdings in Chevron by 0.7% in the second quarter. Hubbell Strickland Wealth Management LLC now owns 10,081 shares of the oil and gas company’s stock worth $1,443,000 after purchasing an additional 68 shares in the last quarter. Capital Advisors Ltd. LLC raised its holdings in Chevron by 4.1% in the second quarter. Capital Advisors Ltd. LLC now owns 1,815 shares of the oil and gas company’s stock worth $260,000 after purchasing an additional 71 shares in the last quarter. Finally, GDS Wealth Management raised its holdings in Chevron by 4.4% in the first quarter. GDS Wealth Management now owns 1,706 shares of the oil and gas company’s stock worth $285,000 after purchasing an additional 72 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Wall Street Analysts Forecast Growth

CVX has been the subject of a number of research reports. UBS Group increased their price objective on Chevron from $186.00 to $197.00 and gave the stock a “buy” rating in a report on Wednesday, August 20th. Melius assumed coverage on Chevron in a report on Wednesday, August 20th. They set a “hold” rating and a $155.00 price target for the company. Bank of America raised their price target on Chevron from $170.00 to $185.00 and gave the company a “buy” rating in a report on Wednesday, September 10th. Melius Research assumed coverage on Chevron in a report on Wednesday, August 20th. They set a “hold” rating and a $155.00 price target for the company. Finally, Evercore ISI restated an “outperform” rating and set a $180.00 price target on shares of Chevron in a report on Thursday, July 31st. Eleven investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, Chevron presently has an average rating of “Hold” and an average price target of $165.40.

View Our Latest Stock Report on CVX

Chevron Trading Up 2.0%

Chevron stock opened at $151.86 on Tuesday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.00 and a quick ratio of 0.74. Chevron Corporation has a one year low of $132.04 and a one year high of $168.96. The stock has a market capitalization of $262.42 billion, a PE ratio of 19.54, a price-to-earnings-growth ratio of 1.93 and a beta of 0.84. The business’s fifty day moving average is $156.12 and its 200 day 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 the consensus estimate of $1.58 by $0.19. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The company had revenue of $44.82 billion for the quarter, compared to analysts’ expectations of $44.59 billion. During the same period last year, the firm posted $2.55 earnings per share. Chevron’s revenue was down 12.4% compared to the same quarter last year. On average, sell-side analysts predict that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th were given a $1.71 dividend. This represents a $6.84 annualized dividend and a yield of 4.5%. The ex-dividend date of this dividend was Tuesday, August 19th. Chevron’s dividend payout ratio (DPR) is presently 88.03%.

Insider Activity

In other Chevron news, Director John B. Hess sold 375,000 shares of the firm’s stock in a transaction dated Friday, August 22nd. The stock was 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 of the company’s stock, valued at approximately $222,102,023.50. This trade represents a 21.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Alana K. Knowles sold 3,978 shares of the firm’s stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $160.00, for a total value of $636,480.00. Following the completion of the transaction, the vice president directly owned 1,181 shares in the company, valued at $188,960. The trade was a 77.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company 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.

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