Chevron Corporation $CVX Position Reduced by Berkshire Bank

Berkshire Bank trimmed its stake in shares of Chevron Corporation (NYSE:CVX) by 1.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,947 shares of the oil and gas company’s stock after selling 186 shares during the quarter. Berkshire Bank’s holdings in Chevron were worth $2,283,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in CVX. Bank Pictet & Cie Europe AG lifted 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 during the last quarter. Raiffeisen Bank International AG bought a new position in shares of Chevron in the 4th quarter worth about $258,000. Tang Capital Management LLC bought a new position in shares of Chevron in the 4th quarter worth about $866,000. State of Wyoming lifted its position in shares of Chevron by 662.3% in the 4th quarter. State of Wyoming now owns 2,226 shares of the oil and gas company’s stock worth $322,000 after buying an additional 1,934 shares during the last quarter. Finally, Tidal Investments LLC lifted its position in shares of Chevron by 12.1% in the 4th quarter. Tidal Investments LLC now owns 106,394 shares of the oil and gas company’s stock worth $15,410,000 after buying an additional 11,514 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors.

Chevron Trading Up 0.2%

Shares of NYSE:CVX opened at $157.46 on Tuesday. The stock has a market capitalization of $272.09 billion, a price-to-earnings ratio of 20.27, a PEG ratio of 1.98 and a beta of 0.90. Chevron Corporation has a 1-year low of $132.04 and a 1-year high of $168.96. 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 company has a 50 day moving average price of $154.87 and a 200 day moving average price of $148.78.

Chevron (NYSE:CVX) last issued its 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. The firm had revenue of $44.82 billion during the quarter, compared to analysts’ expectations of $44.59 billion. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The firm’s revenue for the quarter was down 12.4% compared to the same quarter last year. During the same period last year, the firm posted $2.55 earnings per share. On average, research analysts anticipate that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Announces Dividend

The business also recently declared 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 currently 88.03%.

Insider Activity at Chevron

In other Chevron news, VP Alana K. Knowles sold 3,978 shares of Chevron stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $160.00, for a total value of $636,480.00. Following the completion of the sale, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John B. Hess sold 375,000 shares of Chevron 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 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 ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on CVX shares. UBS Group raised their price target on shares of Chevron from $186.00 to $197.00 and gave the stock a “buy” rating in a research report on Wednesday, August 20th. Bank of America increased their price objective on shares of Chevron from $170.00 to $185.00 and gave the stock a “buy” rating in a report on Wednesday, September 10th. Scotiabank reaffirmed a “sector perform” rating and issued a $160.00 price objective (up previously from $143.00) on shares of Chevron in a report on Friday, July 11th. Melius assumed coverage on shares of Chevron in a report on Wednesday, August 20th. They issued a “hold” rating and a $155.00 price objective on the stock. Finally, Wells Fargo & Company reaffirmed an “overweight” rating and issued a $178.00 price objective on shares of Chevron in a report on Friday, August 1st. Eleven investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $165.05.

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.