Chevron Corporation $CVX Shares Purchased by Union Savings Bank

Union Savings Bank boosted its position in shares of Chevron Corporation (NYSE:CVX) by 21.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,053 shares of the oil and gas company’s stock after buying an additional 1,266 shares during the period. Union Savings Bank’s holdings in Chevron were worth $1,069,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Saturna Capital Corp purchased a new stake in shares of Chevron in the first quarter valued at about $201,000. Jennison Associates LLC increased its position in Chevron by 138.2% in the 1st quarter. Jennison Associates LLC now owns 1,189,354 shares of the oil and gas company’s stock valued at $198,967,000 after acquiring an additional 690,038 shares during the period. Creekmur Asset Management LLC increased its position in Chevron by 483.6% in the 1st quarter. Creekmur Asset Management LLC now owns 4,634 shares of the oil and gas company’s stock valued at $775,000 after acquiring an additional 3,840 shares during the period. Darden Wealth Group Inc raised its stake in Chevron by 3.9% during the 1st quarter. Darden Wealth Group Inc now owns 8,461 shares of the oil and gas company’s stock valued at $1,415,000 after acquiring an additional 320 shares during the last quarter. Finally, Evergreen Wealth Management LLC lifted its position in Chevron by 12.8% during the 1st quarter. Evergreen Wealth Management LLC now owns 12,742 shares of the oil and gas company’s stock worth $2,132,000 after acquiring an additional 1,448 shares during the period. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on CVX shares. UBS Group boosted their target price on Chevron from $186.00 to $197.00 and gave the company a “buy” rating in a report on Wednesday, August 20th. Jefferies Financial Group reiterated a “buy” rating on shares of Chevron in a research report on Friday, July 18th. Weiss Ratings reissued a “hold (c)” rating on shares of Chevron in a research note on Wednesday, October 8th. Morgan Stanley raised their target price on shares of Chevron from $177.00 to $180.00 and gave the stock an “overweight” rating in a research note on Thursday. Finally, Mizuho boosted their price target on shares of Chevron from $191.00 to $204.00 and gave the stock an “outperform” rating in a research note on Thursday. Eleven investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $166.55.

Chevron Price Performance

Shares of NYSE CVX opened at $157.61 on Friday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.74 and a current ratio of 1.00. Chevron Corporation has a one year low of $132.04 and a one year high of $168.96. The firm has a market capitalization of $317.35 billion, a P/E ratio of 20.28, a PEG ratio of 4.40 and a beta of 0.83. The company’s fifty day moving average is $155.26 and its two-hundred day moving average is $150.22.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, October 31st. The oil and gas company reported $1.85 EPS for the quarter, beating the consensus estimate of $1.71 by $0.14. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The firm had revenue of $48.17 billion during the quarter, compared to analysts’ expectations of $46.99 billion. During the same quarter last year, the business earned $2.48 earnings per share. The business’s revenue for the quarter was down 1.9% compared to the same quarter last year. Analysts forecast that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Tuesday, November 18th will be issued a $1.71 dividend. The ex-dividend date of this dividend is Tuesday, November 18th. This represents a $6.84 annualized dividend and a yield of 4.3%. Chevron’s dividend payout ratio is 96.20%.

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 shares were sold at an average price of $158.30, for a total transaction of $59,362,500.00. Following 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Alana K. Knowles sold 3,978 shares of Chevron stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $160.00, for a total transaction of $636,480.00. Following the sale, the vice president owned 1,181 shares of the company’s stock, valued at approximately $188,960. This trade represents a 77.11% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.21% of the company’s stock.

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.