Keybank National Association OH Sells 33,370 Shares of Chevron Corporation $CVX

Keybank National Association OH lowered its position in shares of Chevron Corporation (NYSE:CVX) by 4.9% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 653,857 shares of the oil and gas company’s stock after selling 33,370 shares during the quarter. Keybank National Association OH’s holdings in Chevron were worth $93,626,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Analyst IMS Investment Management Services Ltd. grew its position in Chevron by 1.0% in the second quarter. Analyst IMS Investment Management Services Ltd. now owns 6,751 shares of the oil and gas company’s stock valued at $966,000 after purchasing an additional 67 shares in the last quarter. Greenfield Savings Bank boosted its stake in shares of Chevron by 0.6% during the 2nd quarter. Greenfield Savings Bank now owns 11,611 shares of the oil and gas company’s stock worth $1,663,000 after buying an additional 68 shares during the last quarter. Atwater Malick LLC grew its holdings in shares of Chevron by 2.4% in the 2nd quarter. Atwater Malick LLC now owns 2,886 shares of the oil and gas company’s stock valued at $413,000 after acquiring an additional 68 shares in the last quarter. Hubbell Strickland Wealth Management LLC grew its holdings in shares of Chevron by 0.7% in the 2nd quarter. Hubbell Strickland Wealth Management LLC now owns 10,081 shares of the oil and gas company’s stock valued at $1,443,000 after acquiring an additional 68 shares in the last quarter. Finally, Mowery & Schoenfeld Wealth Management LLC increased its position in shares of Chevron by 10.3% in the second quarter. Mowery & Schoenfeld Wealth Management LLC now owns 750 shares of the oil and gas company’s stock valued at $107,000 after acquiring an additional 70 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Chevron Stock Up 0.5%

CVX opened at $154.92 on Thursday. The stock’s fifty day simple moving average is $156.11 and its 200 day simple moving average is $148.82. Chevron Corporation has a 1-year low of $132.04 and a 1-year high of $168.96. The stock has a market cap of $267.69 billion, a PE ratio of 19.94, a price-to-earnings-growth ratio of 4.38 and a beta of 0.84. 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 released its quarterly earnings data on Friday, August 1st. The oil and gas company reported $1.77 EPS for the quarter, beating the consensus estimate of $1.58 by $0.19. The firm had revenue of $44.82 billion for the quarter, compared to the consensus estimate of $44.59 billion. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The company’s quarterly revenue was down 12.4% on a year-over-year basis. During the same period in the previous year, the company earned $2.55 earnings per share. As a group, research analysts expect that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th were issued a $1.71 dividend. This represents a $6.84 annualized dividend and a yield of 4.4%. The ex-dividend date of this dividend was Tuesday, August 19th. Chevron’s dividend payout ratio is currently 88.03%.

Insider Activity at Chevron

In other Chevron news, VP Alana K. Knowles sold 3,978 shares of the stock in a transaction on Friday, August 29th. The stock was sold at an average price of $160.00, for a total transaction of $636,480.00. Following the transaction, the vice president 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John B. Hess sold 375,000 shares of Chevron 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 of the company’s stock, valued at $222,102,023.50. This represents a 21.09% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.21% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on CVX. Morgan Stanley began coverage on Chevron in a research report on Monday, August 4th. They set an “overweight” rating and a $174.00 price target for the company. TD Cowen upped their price objective on Chevron from $150.00 to $155.00 and gave the stock a “hold” rating in a research note on Monday, August 4th. Raymond James Financial reissued an “outperform” rating and issued a $160.00 target price (down from $170.00) on shares of Chevron in a research note on Friday, October 17th. Scotiabank upped their price target on shares of Chevron from $160.00 to $165.00 and gave the stock a “sector perform” rating in a research report on Thursday, October 9th. Finally, 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 objective for the company. 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 given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $165.25.

Chevron Company 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.