Somerville Kurt F Sells 748 Shares of Chevron Corporation $CVX

Somerville Kurt F lowered its position in Chevron Corporation (NYSE:CVX) by 1.8% in the 2nd quarter, Holdings Channel reports. The firm owned 41,240 shares of the oil and gas company’s stock after selling 748 shares during the quarter. Chevron accounts for approximately 1.0% of Somerville Kurt F’s portfolio, making the stock its 28th biggest position. Somerville Kurt F’s holdings in Chevron were worth $5,905,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Greenfield Savings Bank raised its stake in shares of Chevron by 0.6% during the second quarter. Greenfield Savings Bank now owns 11,611 shares of the oil and gas company’s stock valued at $1,663,000 after acquiring an additional 68 shares in the last quarter. Atwater Malick LLC raised its stake in shares of Chevron by 2.4% during the second quarter. Atwater Malick LLC now owns 2,886 shares of the oil and gas company’s stock valued at $413,000 after acquiring an additional 68 shares in the last quarter. Hubbell Strickland Wealth Management LLC raised its stake in shares of Chevron by 0.7% during the second quarter. Hubbell Strickland Wealth Management LLC now owns 10,081 shares of the oil and gas company’s stock valued at $1,443,000 after acquiring an additional 68 shares in the last quarter. GDS Wealth Management raised its stake in shares of Chevron by 4.4% during the first quarter. GDS Wealth Management now owns 1,706 shares of the oil and gas company’s stock valued at $285,000 after acquiring an additional 72 shares in the last quarter. Finally, AIMZ Investment Advisors LLC raised its stake in shares of Chevron by 4.2% during the first quarter. AIMZ Investment Advisors LLC now owns 1,783 shares of the oil and gas company’s stock valued at $298,000 after acquiring an additional 72 shares in the last quarter. Institutional investors own 72.42% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CVX. Mizuho decreased their price target on shares of Chevron from $192.00 to $191.00 and set an “outperform” rating for the company in a research note on Monday, September 15th. Raymond James Financial reaffirmed an “outperform” rating on shares of Chevron in a research note on Friday, August 1st. Barclays decreased their price target on shares of Chevron from $160.00 to $158.00 and set an “equal weight” rating for the company in a research note on Tuesday. TD Cowen lifted their price objective on shares of Chevron from $150.00 to $155.00 and gave the company a “hold” rating in a report on Monday, August 4th. Finally, Wells Fargo & Company reissued an “overweight” rating and set a $178.00 price objective on shares of Chevron in a report on Friday, August 1st. Eleven analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, Chevron has a consensus rating of “Hold” and an average target price of $165.15.

Chevron Price Performance

NYSE CVX opened at $154.92 on Wednesday. The firm’s fifty day simple moving average is $156.15 and its two-hundred day simple moving average is $148.84. The firm has a market capitalization of $267.70 billion, a P/E ratio of 19.94, a P/E/G ratio of 1.99 and a beta of 0.84. The company has a current ratio of 1.00, a quick ratio of 0.74 and a debt-to-equity ratio of 0.16. Chevron Corporation has a 12-month low of $132.04 and a 12-month high of $168.96.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, August 1st. The oil and gas company reported $1.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.58 by $0.19. The business had revenue of $44.82 billion for the quarter, compared to the consensus estimate of $44.59 billion. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The business’s quarterly revenue was down 12.4% on a year-over-year basis. During the same period in the prior year, the firm posted $2.55 earnings per share. Analysts forecast that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th were given a dividend of $1.71 per share. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.4%. Chevron’s dividend payout ratio is presently 88.03%.

Insiders Place Their Bets

In other news, Director John B. Hess sold 375,000 shares of the company’s stock in a transaction 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 directly owned 1,403,045 shares of the company’s stock, valued at approximately $222,102,023.50. This 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 company’s stock in a transaction 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 directly 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.

About Chevron

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.