Chevron Co. (NYSE:CVX) is Norway Savings Bank’s 8th Largest Position

Norway Savings Bank grew its stake in Chevron Co. (NYSE:CVX) by 0.3% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 22,078 shares of the oil and gas company’s stock after buying an additional 73 shares during the quarter. Chevron accounts for approximately 1.9% of Norway Savings Bank’s portfolio, making the stock its 8th biggest position. Norway Savings Bank’s holdings in Chevron were worth $3,474,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in CVX. Everett Harris & Co. CA lifted its stake in Chevron by 0.9% during the first quarter. Everett Harris & Co. CA now owns 531,599 shares of the oil and gas company’s stock worth $86,736,000 after purchasing an additional 4,984 shares during the last quarter. Steph & Co. lifted its stake in Chevron by 6.3% during the first quarter. Steph & Co. now owns 4,943 shares of the oil and gas company’s stock worth $806,000 after purchasing an additional 295 shares during the last quarter. Inspire Advisors LLC lifted its stake in Chevron by 2.2% during the first quarter. Inspire Advisors LLC now owns 5,360 shares of the oil and gas company’s stock worth $875,000 after purchasing an additional 114 shares during the last quarter. Fiduciary Alliance LLC lifted its stake in Chevron by 6.0% during the first quarter. Fiduciary Alliance LLC now owns 43,070 shares of the oil and gas company’s stock worth $7,027,000 after purchasing an additional 2,447 shares during the last quarter. Finally, WC Walker & Associates Inc. lifted its stake in Chevron by 12.3% during the fourth quarter. WC Walker & Associates Inc. now owns 3,099 shares of the oil and gas company’s stock worth $497,000 after purchasing an additional 340 shares during the last quarter. Hedge funds and other institutional investors own 68.87% of the company’s stock.

Chevron Stock Up 0.4 %

Shares of NYSE:CVX opened at $167.22 on Tuesday. The company has a quick ratio of 1.13, a current ratio of 1.43 and a debt-to-equity ratio of 0.13. Chevron Co. has a 52-week low of $140.46 and a 52-week high of $189.68. The stock’s fifty day simple moving average is $160.80 and its 200-day simple moving average is $160.15. The company has a market capitalization of $312.24 billion, a P/E ratio of 10.60, a P/E/G ratio of 0.88 and a beta of 1.18.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, July 28th. The oil and gas company reported $3.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.95 by $0.13. Chevron had a return on equity of 19.48% and a net margin of 13.54%. The business had revenue of $48.90 billion for the quarter, compared to the consensus estimate of $48 billion. During the same period in the prior year, the business earned $5.82 earnings per share. The business’s revenue was down 28.9% on a year-over-year basis. As a group, equities research analysts forecast that Chevron Co. will post 13.23 earnings per share for the current fiscal year.

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 11th. Investors of record on Friday, August 18th were given a dividend of $1.51 per share. The ex-dividend date of this dividend was Thursday, August 17th. This represents a $6.04 annualized dividend and a yield of 3.61%. Chevron’s dividend payout ratio (DPR) is presently 38.30%.

Insider Buying and Selling

In related news, CFO Pierre R. Breber sold 25,000 shares of the stock in a transaction dated Friday, August 11th. The stock was sold at an average price of $164.00, for a total transaction of $4,100,000.00. Following the transaction, the chief financial officer now directly owns 6,021 shares in the company, valued at $987,444. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Chevron news, CFO Pierre R. Breber sold 25,000 shares of the company’s stock in a transaction dated Friday, August 11th. The stock was sold at an average price of $164.00, for a total transaction of $4,100,000.00. Following the completion of the sale, the chief financial officer now directly owns 6,021 shares in the company, valued at $987,444. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Jeff B. Gustavson sold 3,750 shares of the company’s stock in a transaction dated Thursday, August 3rd. The stock was sold at an average price of $160.88, for a total value of $603,300.00. Following the sale, the vice president now owns 1,718 shares of the company’s stock, valued at $276,391.84. The disclosure for this sale can be found here. 0.18% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

CVX has been the subject of several recent analyst reports. JPMorgan Chase & Co. upgraded Chevron from an “underweight” rating to a “neutral” rating and boosted their target price for the stock from $161.00 to $170.00 in a research note on Wednesday, May 31st. UBS Group lifted their price target on Chevron from $202.00 to $209.00 and gave the stock a “buy” rating in a research report on Thursday, August 17th. The Goldman Sachs Group raised Chevron from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $166.00 to $187.00 in a research report on Monday, July 31st. Citigroup cut their price target on Chevron from $180.00 to $170.00 in a research report on Tuesday, July 11th. Finally, StockNews.com assumed coverage on Chevron in a research report on Thursday, August 17th. They set a “hold” rating on the stock. Seven investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $190.61.

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; liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and processing, transportation, storage, and marketing of natural gas, as well as a gas-to-liquids plant.