White Pine Investment CO Sells 1,508 Shares of Chevron Corporation $CVX

White Pine Investment CO decreased its stake in shares of Chevron Corporation (NYSE:CVX) by 3.7% during the second quarter, HoldingsChannel reports. The firm owned 39,686 shares of the oil and gas company’s stock after selling 1,508 shares during the quarter. White Pine Investment CO’s holdings in Chevron were worth $5,683,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of CVX. Baker Tilly Wealth Management LLC boosted its stake in shares of Chevron by 23.9% during the 1st quarter. Baker Tilly Wealth Management LLC now owns 5,317 shares of the oil and gas company’s stock valued at $890,000 after purchasing an additional 1,026 shares in the last quarter. West Financial Advisors LLC bought a new stake in Chevron during the first quarter worth about $148,000. NBC Securities Inc. boosted its stake in Chevron by 107,824.3% during the first quarter. NBC Securities Inc. now owns 39,932 shares of the oil and gas company’s stock worth $6,680,000 after acquiring an additional 39,895 shares in the last quarter. QV Investors Inc. boosted its stake in Chevron by 10.3% during the first quarter. QV Investors Inc. now owns 24,737 shares of the oil and gas company’s stock worth $4,138,000 after acquiring an additional 2,320 shares in the last quarter. Finally, Fragasso Financial Advisors Inc boosted its stake in Chevron by 11.2% during the first quarter. Fragasso Financial Advisors Inc now owns 2,142 shares of the oil and gas company’s stock worth $358,000 after acquiring an additional 215 shares in the last quarter. Institutional investors own 72.42% of the company’s stock.

Chevron Stock Down 2.5%

Shares of Chevron stock opened at $156.13 on Tuesday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.74 and a current ratio of 1.00. The stock has a market capitalization of $269.79 billion, a PE ratio of 20.09, a price-to-earnings-growth ratio of 2.00 and a beta of 0.90. Chevron Corporation has a 52-week low of $132.04 and a 52-week high of $168.96. The company has a 50-day simple moving average of $156.17 and a two-hundred day simple moving average of $149.09.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, August 1st. The oil and gas company reported $1.77 earnings per share for the quarter, beating the consensus estimate of $1.58 by $0.19. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The firm had revenue of $44.82 billion during the quarter, compared to analysts’ expectations of $44.59 billion. During the same period in the previous year, the company earned $2.55 earnings per share. The firm’s quarterly revenue was down 12.4% on a year-over-year basis. On average, analysts anticipate that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Dividend Announcement

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

Insider Activity at Chevron

In other news, VP Alana K. Knowles sold 3,978 shares of the business’s stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $160.00, for a total transaction 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. The trade was a 77.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John B. Hess sold 375,000 shares of the business’s 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 transaction, the director directly owned 1,403,045 shares of the company’s stock, valued at $222,102,023.50. The trade was a 21.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.20% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms recently commented on CVX. Mizuho dropped their price objective on shares of Chevron from $192.00 to $191.00 and set an “outperform” rating on the stock in a research note on Monday, September 15th. UBS Group boosted their price objective on shares of Chevron from $186.00 to $197.00 and gave the stock a “buy” rating in a research note on Wednesday, August 20th. Melius Research began coverage on shares of Chevron in a research note on Wednesday, August 20th. They set a “hold” rating and a $155.00 price objective on the stock. Bank of America boosted their price objective on shares of Chevron from $170.00 to $185.00 and gave the stock a “buy” rating in a research note on Wednesday, September 10th. Finally, Evercore ISI reissued an “outperform” rating and set a $180.00 price objective on shares of Chevron in a research note on Thursday, July 31st. Eleven analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, Chevron has a consensus rating of “Hold” and a consensus price target of $165.05.

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.