Cornell Pochily Investment Advisors Inc. Boosts Position in Chevron Corporation $CVX

Cornell Pochily Investment Advisors Inc. boosted its position in shares of Chevron Corporation (NYSE:CVX) by 1.7% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 13,830 shares of the oil and gas company’s stock after purchasing an additional 236 shares during the quarter. Cornell Pochily Investment Advisors Inc.’s holdings in Chevron were worth $1,980,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Greenfield Savings Bank raised its holdings in shares of Chevron by 0.6% in the second quarter. Greenfield Savings Bank now owns 11,611 shares of the oil and gas company’s stock worth $1,663,000 after acquiring an additional 68 shares during the last quarter. GDS Wealth Management raised its holdings in shares of Chevron by 4.4% in the first quarter. GDS Wealth Management now owns 1,706 shares of the oil and gas company’s stock worth $285,000 after acquiring an additional 72 shares during the last quarter. AIMZ Investment Advisors LLC raised its holdings in shares of Chevron by 4.2% in the first quarter. AIMZ Investment Advisors LLC now owns 1,783 shares of the oil and gas company’s stock worth $298,000 after acquiring an additional 72 shares during the last quarter. Garde Capital Inc. raised its holdings in shares of Chevron by 3.2% in the second quarter. Garde Capital Inc. now owns 2,355 shares of the oil and gas company’s stock worth $337,000 after acquiring an additional 72 shares during the last quarter. Finally, North Star Investment Management Corp. raised its holdings in shares of Chevron by 0.3% in the second quarter. North Star Investment Management Corp. now owns 23,000 shares of the oil and gas company’s stock worth $3,293,000 after acquiring an additional 74 shares during the last quarter. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Chevron

In other news, Director John B. Hess sold 375,000 shares of the company’s stock in a transaction dated 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 completion of the sale, the director owned 1,403,045 shares of the company’s stock, valued at $222,102,023.50. This represents a 21.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Alana K. Knowles sold 3,978 shares of the company’s stock in a transaction dated 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 sale, the vice president directly owned 1,181 shares of the company’s stock, valued at $188,960. The trade was a 77.11% decrease in their position. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by insiders.

Chevron Price Performance

CVX stock opened at $153.53 on Friday. The stock has a 50-day moving average price of $156.26 and a two-hundred day moving average price of $149.14. Chevron Corporation has a 12-month low of $132.04 and a 12-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. The company has a market cap of $265.30 billion, a PE ratio of 19.76, a price-to-earnings-growth ratio of 1.97 and a beta of 0.84.

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

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th were given a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date of this dividend was Tuesday, August 19th. Chevron’s payout ratio is 88.03%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on CVX. Jefferies Financial Group reissued a “buy” rating on shares of Chevron in a report on Friday, July 18th. Melius Research began coverage on Chevron in a research note on Wednesday, August 20th. They issued a “hold” rating and a $155.00 target price for the company. Mizuho dropped their target price on Chevron from $192.00 to $191.00 and set an “outperform” rating for the company in a research note on Monday, September 15th. Melius began coverage on Chevron in a research note on Wednesday, August 20th. They issued a “hold” rating and a $155.00 target price for the company. Finally, Scotiabank reiterated a “sector perform” rating and issued a $160.00 target price (up from $143.00) on shares of Chevron in a research note on Friday, July 11th. Eleven research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus 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.