City State Bank Purchases 270 Shares of Chevron Corporation $CVX

City State Bank lifted its position in Chevron Corporation (NYSE:CVX) by 4.4% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 6,472 shares of the oil and gas company’s stock after buying an additional 270 shares during the quarter. City State Bank’s holdings in Chevron were worth $927,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. Kingstone Capital Partners Texas LLC lifted its holdings in Chevron by 652,139.5% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 83,714,936 shares of the oil and gas company’s stock worth $13,214,757,000 after purchasing an additional 83,702,101 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Chevron by 4.9% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 33,430,030 shares of the oil and gas company’s stock worth $5,592,263,000 after purchasing an additional 1,574,464 shares during the last quarter. Invesco Ltd. lifted its holdings in Chevron by 5.5% in the 1st quarter. Invesco Ltd. now owns 15,855,325 shares of the oil and gas company’s stock worth $2,652,437,000 after purchasing an additional 827,851 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Chevron by 0.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 12,281,983 shares of the oil and gas company’s stock worth $2,054,513,000 after purchasing an additional 40,758 shares during the last quarter. Finally, GQG Partners LLC acquired a new stake in Chevron in the 1st quarter worth approximately $1,466,751,000. Institutional investors own 72.42% of the company’s stock.

Insiders Place Their Bets

In other Chevron 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 value of $59,362,500.00. Following the sale, the director directly owned 1,403,045 shares in the company, valued at $222,102,023.50. This represents a 21.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Alana K. Knowles sold 3,978 shares of the company’s stock in a transaction 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 owned 1,181 shares in the company, valued at $188,960. This trade represents a 77.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.21% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Morgan Stanley assumed coverage on Chevron in a report on Monday, August 4th. They issued an “overweight” rating and a $174.00 target price for the company. Wells Fargo & Company began coverage on Chevron in a report on Friday, October 17th. They issued an “overweight” rating and a $190.00 target price for the company. Scotiabank upped their price target on Chevron from $160.00 to $165.00 and gave the stock a “sector perform” rating in a report on Thursday, October 9th. Barclays cut their price target on Chevron from $160.00 to $158.00 and set an “equal weight” rating for the company in a report on Tuesday, October 7th. Finally, Bank of America upped their price target on Chevron from $170.00 to $185.00 and gave the stock a “buy” rating in a report on Wednesday, September 10th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $165.25.

Chevron Stock Down 0.6%

Shares of CVX stock opened at $155.63 on Friday. The stock has a 50 day moving average of $156.04 and a 200-day moving average of $148.38. The company has a quick ratio of 0.74, a current ratio of 1.00 and a debt-to-equity ratio of 0.16. The firm has a market cap of $268.92 billion, a PE ratio of 20.03, a price-to-earnings-growth ratio of 4.45 and a beta of 0.84. Chevron Corporation has a 12 month low of $132.04 and a 12 month high of $168.96.

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

Chevron Dividend Announcement

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

Chevron Profile

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.