Chevron Corporation $CVX Shares Purchased by Union Savings Bank

Union Savings Bank increased its stake in shares of Chevron Corporation (NYSE:CVX) by 21.9% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 7,053 shares of the oil and gas company’s stock after purchasing an additional 1,266 shares during the period. Union Savings Bank’s holdings in Chevron were worth $1,069,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. WealthTrust Asset Management LLC boosted its position in shares of Chevron by 24.5% during the second quarter. WealthTrust Asset Management LLC now owns 2,636 shares of the oil and gas company’s stock worth $378,000 after buying an additional 519 shares during the period. Cetera Investment Advisers boosted its holdings in Chevron by 3.7% during the 2nd quarter. Cetera Investment Advisers now owns 772,496 shares of the oil and gas company’s stock valued at $110,614,000 after acquiring an additional 27,868 shares during the period. Fusion Capital LLC boosted its holdings in Chevron by 8.5% during the 2nd quarter. Fusion Capital LLC now owns 8,109 shares of the oil and gas company’s stock valued at $1,161,000 after acquiring an additional 635 shares during the period. WealthShield Partners LLC grew its position in Chevron by 7.2% in the 2nd quarter. WealthShield Partners LLC now owns 4,881 shares of the oil and gas company’s stock valued at $699,000 after acquiring an additional 326 shares in the last quarter. Finally, OmniStar Financial Group Inc. increased its stake in Chevron by 25.0% during the second quarter. OmniStar Financial Group Inc. now owns 5,685 shares of the oil and gas company’s stock worth $814,000 after purchasing an additional 1,136 shares during the period. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Insider Activity at Chevron

In related news, VP Alana K. Knowles sold 3,978 shares of the company’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 completion of the transaction, the vice president directly owned 1,181 shares of the company’s stock, valued at $188,960. This represents a 77.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director John B. Hess sold 375,000 shares of the 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 transaction, the director 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 disclosure for this sale is available in the SEC filing. 0.21% of the stock is owned by insiders.

Chevron Price Performance

Shares of CVX opened at $157.61 on Friday. The firm has a market capitalization of $317.35 billion, a price-to-earnings ratio of 20.28, a PEG ratio of 4.40 and a beta of 0.83. The firm’s fifty day simple moving average is $155.26 and its 200-day simple moving average is $150.22. Chevron Corporation has a twelve month low of $132.04 and a twelve month high of $168.96. 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 (NYSE:CVX) last issued its earnings results on Friday, October 31st. The oil and gas company reported $1.85 EPS for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $46.99 billion. During the same quarter in the previous year, the firm posted $2.48 earnings per share. The company’s revenue was down 1.9% compared to the same quarter last year. Equities analysts forecast that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Dividend Announcement

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

Analyst Upgrades and Downgrades

CVX has been the subject of several recent research reports. Bank of America raised their price objective on shares of Chevron from $170.00 to $185.00 and gave the company a “buy” rating in a research note on Wednesday, September 10th. Melius Research began coverage on shares of Chevron in a research report on Wednesday, August 20th. They issued a “hold” rating and a $155.00 price target for the company. Evercore ISI restated an “outperform” rating and issued a $180.00 price target on shares of Chevron in a research note on Thursday, July 31st. Melius began coverage on Chevron in a research report on Wednesday, August 20th. They set a “hold” rating and a $155.00 price objective on the stock. Finally, Morgan Stanley lifted their target price on Chevron from $177.00 to $180.00 and gave the company an “overweight” rating in a report on Thursday. Eleven equities research 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, the company has a consensus rating of “Hold” and an average target price of $166.55.

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.