Mitchell Sinkler & Starr PA Acquires 585 Shares of Chevron Corporation $CVX

Mitchell Sinkler & Starr PA lifted its holdings in Chevron Corporation (NYSE:CVX) by 4.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,613 shares of the oil and gas company’s stock after purchasing an additional 585 shares during the quarter. Mitchell Sinkler & Starr PA’s holdings in Chevron were worth $2,092,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in CVX. GAMMA Investing LLC lifted its position in shares of Chevron by 27.3% in the first quarter. GAMMA Investing LLC now owns 32,329 shares of the oil and gas company’s stock worth $5,408,000 after purchasing an additional 6,928 shares in the last quarter. West Branch Capital LLC raised its position in Chevron by 30.6% during the first quarter. West Branch Capital LLC now owns 12,653 shares of the oil and gas company’s stock worth $2,117,000 after acquiring an additional 2,964 shares in the last quarter. Elevation Point Wealth Partners LLC raised its position in Chevron by 3.4% during the first quarter. Elevation Point Wealth Partners LLC now owns 22,197 shares of the oil and gas company’s stock worth $3,713,000 after acquiring an additional 734 shares in the last quarter. CVA Family Office LLC raised its position in Chevron by 2.2% during the first quarter. CVA Family Office LLC now owns 9,496 shares of the oil and gas company’s stock worth $1,589,000 after acquiring an additional 203 shares in the last quarter. Finally, Goldstone Financial Group LLC raised its position in Chevron by 69.7% during the first quarter. Goldstone Financial Group LLC now owns 8,444 shares of the oil and gas company’s stock worth $1,413,000 after acquiring an additional 3,467 shares in the last quarter. Institutional investors own 72.42% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on CVX. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Chevron in a research report on Wednesday. Bank of America upped their price target on shares of Chevron from $170.00 to $185.00 and gave the stock a “buy” rating in a research report on Wednesday, September 10th. Barclays dropped their price target on shares of Chevron from $160.00 to $158.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 7th. UBS Group upped their price target on shares of Chevron from $186.00 to $197.00 and gave the stock a “buy” rating in a research report on Wednesday, August 20th. Finally, Jefferies Financial Group reaffirmed a “buy” rating on shares of Chevron in a research report on Friday, July 18th. Eleven investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $165.40.

Chevron Price Performance

Shares of CVX opened at $149.11 on Friday. The firm has a market capitalization of $257.66 billion, a PE ratio of 19.19, a PEG ratio of 1.92 and a beta of 0.84. The company’s 50-day moving average is $156.10 and its 200-day moving average is $148.54. Chevron Corporation has a fifty-two week low of $132.04 and a fifty-two week 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 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. The company had revenue of $44.82 billion for the quarter, compared to analyst estimates of $44.59 billion. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The company’s revenue was down 12.4% on a year-over-year basis. During the same period in the prior year, the firm earned $2.55 earnings per share. Equities analysts forecast that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th were paid a $1.71 dividend. The ex-dividend date was Tuesday, August 19th. This represents a $6.84 annualized dividend and a dividend yield of 4.6%. Chevron’s dividend payout ratio is 88.03%.

Insider Activity

In related news, VP Alana K. Knowles sold 3,978 shares of the company’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 transaction, the vice president directly owned 1,181 shares in the company, valued at approximately $188,960. This represents a 77.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director John B. Hess sold 375,000 shares of the company’s stock in a transaction dated 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 completion of the transaction, the director owned 1,403,045 shares in the company, valued at $222,102,023.50. This trade represents a 21.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate 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.