Chevron Corporation $CVX Shares Sold by Citizens & Northern Corp

Citizens & Northern Corp reduced its holdings in Chevron Corporation (NYSE:CVX) by 8.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 8,041 shares of the oil and gas company’s stock after selling 714 shares during the period. Citizens & Northern Corp’s holdings in Chevron were worth $1,151,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of CVX. D.A. Davidson & CO. boosted its stake in shares of Chevron by 1.8% in the second quarter. D.A. Davidson & CO. now owns 403,366 shares of the oil and gas company’s stock worth $57,758,000 after acquiring an additional 7,250 shares during the last quarter. Gables Capital Management Inc. lifted its stake in shares of Chevron by 1.7% in the second quarter. Gables Capital Management Inc. now owns 20,727 shares of the oil and gas company’s stock worth $2,968,000 after buying an additional 343 shares in the last quarter. Cullen Frost Bankers Inc. boosted its position in Chevron by 11.3% during the second quarter. Cullen Frost Bankers Inc. now owns 304,492 shares of the oil and gas company’s stock worth $43,600,000 after acquiring an additional 30,990 shares during the last quarter. Wallace Advisory Group LLC grew its stake in Chevron by 1.1% during the 2nd quarter. Wallace Advisory Group LLC now owns 44,974 shares of the oil and gas company’s stock valued at $6,440,000 after acquiring an additional 481 shares in the last quarter. Finally, Fiduciary Family Office LLC raised its holdings in Chevron by 31.4% in the 2nd quarter. Fiduciary Family Office LLC now owns 4,740 shares of the oil and gas company’s stock valued at $679,000 after acquiring an additional 1,133 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Chevron Stock Down 0.4%

Chevron stock opened at $153.80 on Wednesday. The stock’s fifty day moving average is $156.04 and its two-hundred day moving average is $148.08. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.00 and a quick ratio of 0.74. The stock has a market cap of $265.76 billion, a PE ratio of 19.79, a P/E/G ratio of 2.06 and a beta of 0.84. Chevron Corporation has a 1-year low of $132.04 and a 1-year high of $168.96.

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, topping analysts’ consensus estimates of $1.58 by $0.19. The company had revenue of $44.82 billion for the quarter, compared to analysts’ expectations of $44.59 billion. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The firm’s revenue for the quarter was down 12.4% on a year-over-year basis. During the same quarter last year, the company earned $2.55 earnings per share. On average, sell-side analysts expect that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Dividend Announcement

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

Insider Buying and Selling at Chevron

In other news, Director John B. Hess sold 375,000 shares of the stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $158.30, for a total value of $59,362,500.00. Following the completion of the sale, the director directly owned 1,403,045 shares of the company’s stock, valued at approximately $222,102,023.50. This represents a 21.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Alana K. Knowles sold 3,978 shares of the stock in a transaction 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 sale, the vice president owned 1,181 shares of the company’s stock, valued at approximately $188,960. This represents a 77.11% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.20% of the company’s stock.

Wall Street Analyst Weigh In

CVX has been the subject of a number of analyst reports. Bank of America upped their price target on Chevron from $170.00 to $185.00 and gave the company a “buy” rating in a research report on Wednesday, September 10th. Scotiabank raised their price target on Chevron from $160.00 to $165.00 and gave the stock a “sector perform” rating in a research report on Thursday, October 9th. Mizuho cut their price objective on Chevron from $192.00 to $191.00 and set an “outperform” rating on the stock in a report on Monday, September 15th. Jefferies Financial Group restated a “buy” rating on shares of Chevron in a report on Friday, July 18th. Finally, TD Cowen boosted their price target on shares of Chevron from $150.00 to $155.00 and gave the stock a “hold” rating in a research note on Monday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $165.25.

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.