Camden National Bank Boosts Stock Position in Chevron Corporation $CVX

Camden National Bank grew its holdings in shares of Chevron Corporation (NYSE:CVX) by 0.9% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 45,374 shares of the oil and gas company’s stock after acquiring an additional 385 shares during the period. Camden National Bank’s holdings in Chevron were worth $6,497,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Advisor OS LLC grew its holdings in Chevron by 22.5% during the 1st quarter. Advisor OS LLC now owns 6,082 shares of the oil and gas company’s stock worth $1,017,000 after acquiring an additional 1,116 shares in the last quarter. Lifeworks Advisors LLC lifted its position in shares of Chevron by 12.2% during the first quarter. Lifeworks Advisors LLC now owns 2,805 shares of the oil and gas company’s stock worth $469,000 after purchasing an additional 305 shares during the last quarter. Avantax Advisory Services Inc. grew its stake in Chevron by 16.5% in the first quarter. Avantax Advisory Services Inc. now owns 259,353 shares of the oil and gas company’s stock worth $43,387,000 after purchasing an additional 36,767 shares in the last quarter. Cetera Investment Advisers increased its holdings in Chevron by 4.7% in the first quarter. Cetera Investment Advisers now owns 744,628 shares of the oil and gas company’s stock valued at $124,569,000 after buying an additional 33,709 shares during the last quarter. Finally, Elefante Mark B increased its holdings in Chevron by 23.1% in the first quarter. Elefante Mark B now owns 19,383 shares of the oil and gas company’s stock valued at $3,243,000 after buying an additional 3,635 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Insider Buying and Selling

In related news, VP Alana K. Knowles sold 3,978 shares of the firm’s stock in a transaction that occurred 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 sale, the vice president directly owned 1,181 shares in the company, valued at $188,960. This trade represents a 77.11% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.21% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. TD Cowen increased their target price on Chevron from $150.00 to $155.00 and gave the stock a “hold” rating in a report on Monday, August 4th. Bank of America lifted 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. Morgan Stanley increased their target price on shares of Chevron from $177.00 to $180.00 and gave the stock an “overweight” rating in a report on Thursday, November 13th. Wells Fargo & Company raised their price target on shares of Chevron from $190.00 to $196.00 and gave the stock an “overweight” rating in a research report on Friday, November 14th. Finally, UBS Group boosted their price objective on shares of Chevron from $186.00 to $197.00 and gave the company a “buy” rating in a research report on Wednesday, August 20th. Eleven research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $166.55.

Chevron Stock Performance

Shares of CVX opened at $149.93 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 1 year low of $132.04 and a 1 year high of $168.96. The firm has a fifty day moving average of $154.83 and a 200-day moving average of $150.74. The company has a market cap of $301.89 billion, a price-to-earnings ratio of 19.30, a price-to-earnings-growth ratio of 4.40 and a beta of 0.83.

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

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Tuesday, November 18th will be issued a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 4.6%. The ex-dividend date of this dividend is Tuesday, November 18th. Chevron’s dividend payout ratio is 96.20%.

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.