Parkside Financial Bank & Trust Acquires 2,339 Shares of Chevron Corporation $CVX

Parkside Financial Bank & Trust boosted its holdings in Chevron Corporation (NYSE:CVX) by 15.7% in the 2nd quarter, HoldingsChannel reports. The firm owned 17,269 shares of the oil and gas company’s stock after purchasing an additional 2,339 shares during the quarter. Parkside Financial Bank & Trust’s holdings in Chevron were worth $2,473,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Kingstone Capital Partners Texas LLC lifted its stake in Chevron by 652,139.5% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 83,714,936 shares of the oil and gas company’s stock worth $13,214,757,000 after purchasing an additional 83,702,101 shares in the last quarter. GQG Partners LLC bought a new stake in shares of Chevron in the first quarter worth about $1,466,751,000. Nuveen LLC purchased a new stake in shares of Chevron in the first quarter worth about $1,362,232,000. Charles Schwab Investment Management Inc. boosted its stake in Chevron by 4.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 33,430,030 shares of the oil and gas company’s stock valued at $5,592,263,000 after buying an additional 1,574,464 shares during the last quarter. Finally, Canada Pension Plan Investment Board grew its holdings in Chevron by 141.2% during the 1st quarter. Canada Pension Plan Investment Board now owns 1,891,824 shares of the oil and gas company’s stock valued at $316,483,000 after buying an additional 1,107,628 shares in the last quarter. Institutional investors own 72.42% of the company’s stock.

Chevron Stock Up 1.4%

Shares of NYSE:CVX opened at $155.10 on Friday. The firm has a market capitalization of $268.01 billion, a PE ratio of 19.96, a price-to-earnings-growth ratio of 4.40 and a beta of 0.83. The business has a 50 day simple moving average of $155.55 and a two-hundred day simple moving average of $149.62. Chevron Corporation has a 1 year low of $132.04 and a 1 year high of $168.96. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.00 and a quick ratio of 0.74.

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

Chevron Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Tuesday, November 18th will be paid a $1.71 dividend. This represents a $6.84 annualized dividend and a yield of 4.4%. The ex-dividend date of this dividend is Tuesday, November 18th. Chevron’s dividend payout ratio (DPR) is currently 96.20%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on CVX shares. TD Cowen increased their target price on Chevron from $150.00 to $155.00 and gave the company a “hold” rating in a research report on Monday, August 4th. Mizuho lowered their price objective on shares of Chevron from $192.00 to $191.00 and set an “outperform” rating for the company in a research report on Monday, September 15th. Jefferies Financial Group restated a “buy” rating on shares of Chevron in a report on Friday, July 18th. UBS Group upped their target price 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. Finally, Barclays reduced their price objective on Chevron from $160.00 to $158.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 7th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $165.40.

Insider Transactions at Chevron

In other Chevron news, VP Alana K. Knowles sold 3,978 shares of the business’s stock in a transaction dated Friday, August 29th. The shares were 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 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 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 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. 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.