Norway Savings Bank Sells 1,063 Shares of Chevron Corporation $CVX

Norway Savings Bank trimmed its position in shares of Chevron Corporation (NYSE:CVX) by 4.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 21,532 shares of the oil and gas company’s stock after selling 1,063 shares during the period. Chevron comprises 1.6% of Norway Savings Bank’s portfolio, making the stock its 18th largest position. Norway Savings Bank’s holdings in Chevron were worth $3,083,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Sage Capital Advisors llc raised its stake in Chevron by 2.2% in the first quarter. Sage Capital Advisors llc now owns 42,421 shares of the oil and gas company’s stock worth $7,097,000 after buying an additional 919 shares in the last quarter. CCG Wealth Management LLC raised its stake in Chevron by 2.3% in the first quarter. CCG Wealth Management LLC now owns 6,334 shares of the oil and gas company’s stock worth $1,060,000 after buying an additional 145 shares in the last quarter. Ignite Planners LLC raised its stake in Chevron by 14.1% in the first quarter. Ignite Planners LLC now owns 12,316 shares of the oil and gas company’s stock worth $2,060,000 after buying an additional 1,519 shares in the last quarter. Vista Capital Partners Inc. raised its stake in Chevron by 9.1% in the first quarter. Vista Capital Partners Inc. now owns 5,938 shares of the oil and gas company’s stock worth $993,000 after buying an additional 495 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund raised its stake in Chevron by 0.5% in the first quarter. Oregon Public Employees Retirement Fund now owns 143,914 shares of the oil and gas company’s stock worth $24,075,000 after buying an additional 675 shares in the last quarter. 72.42% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director John B. Hess sold 375,000 shares of the firm’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 value of $59,362,500.00. Following the sale, the director owned 1,403,045 shares in the company, valued at approximately $222,102,023.50. This trade represents a 21.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Alana K. Knowles sold 3,978 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the vice president owned 1,181 shares in the company, valued at $188,960. This represents a 77.11% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.21% of the company’s stock.

Chevron Trading Down 0.6%

NYSE:CVX opened at $157.23 on Friday. The company’s 50 day moving average price is $154.67 and its 200-day moving average price is $148.89. Chevron Corporation has a 52 week low of $132.04 and a 52 week high of $168.96. The company has a quick ratio of 0.74, a current ratio of 1.00 and a debt-to-equity ratio of 0.16. The stock has a market cap of $271.69 billion, a price-to-earnings ratio of 20.24, a PEG ratio of 2.00 and a beta of 0.90.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, August 1st. The oil and gas company reported $1.77 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $44.59 billion. During the same quarter in the prior year, the company posted $2.55 earnings per share. The business’s revenue for the quarter was down 12.4% on a year-over-year basis. On average, equities research analysts forecast that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The company also recently declared 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. The ex-dividend date was Tuesday, August 19th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.4%. Chevron’s dividend payout ratio is presently 88.03%.

Analyst Ratings Changes

A number of research firms recently issued reports on CVX. Scotiabank reissued a “sector perform” rating and issued a $160.00 price target (up from $143.00) on shares of Chevron in a research note on Friday, July 11th. Evercore ISI reaffirmed an “outperform” rating and set a $180.00 target price on shares of Chevron in a research note on Thursday, July 31st. Bank of America raised their target price on shares of Chevron from $170.00 to $185.00 and gave the company a “buy” rating in a research note on Wednesday. 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 target price for the company. Finally, Jefferies Financial Group reaffirmed a “buy” rating on shares of Chevron in a research note on Friday, July 18th. Eleven research 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, Chevron presently has an average rating of “Hold” and a consensus target price of $164.80.

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.