Peoples Bank KS Cuts Stake in Chevron Corporation $CVX

Peoples Bank KS cut its holdings in Chevron Corporation (NYSE:CVX) by 60.7% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,171 shares of the oil and gas company’s stock after selling 6,447 shares during the period. Peoples Bank KS’s holdings in Chevron were worth $648,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Algert Global LLC grew its stake in Chevron by 22.7% during the first quarter. Algert Global LLC now owns 3,692 shares of the oil and gas company’s stock valued at $618,000 after acquiring an additional 682 shares in the last quarter. Quantbot Technologies LP bought a new position in shares of Chevron during the 1st quarter valued at about $1,011,000. Erste Asset Management GmbH grew its position in shares of Chevron by 33.4% during the first quarter. Erste Asset Management GmbH now owns 36,331 shares of the oil and gas company’s stock valued at $6,083,000 after purchasing an additional 9,102 shares in the last quarter. Tradition Wealth Management LLC increased its holdings in shares of Chevron by 3.8% in the first quarter. Tradition Wealth Management LLC now owns 9,228 shares of the oil and gas company’s stock worth $1,544,000 after purchasing an additional 342 shares during the last quarter. Finally, GDS Wealth Management lifted its position in shares of Chevron by 4.4% in the first quarter. GDS Wealth Management now owns 1,706 shares of the oil and gas company’s stock worth $285,000 after buying an additional 72 shares in the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CVX has been the subject of several research analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of Chevron in a report on Wednesday, October 8th. Morgan Stanley raised their target price on shares of Chevron from $177.00 to $180.00 and gave the company an “overweight” rating in a report on Thursday, November 13th. Wall Street Zen raised shares of Chevron from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Barclays dropped their price objective on shares of Chevron from $160.00 to $158.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 7th. Finally, UBS Group restated a “buy” rating on shares of Chevron in a research report on Monday, December 1st. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, seven have given a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Chevron currently has an average rating of “Hold” and an average target price of $166.00.

Chevron Trading Down 1.2%

CVX stock opened at $147.69 on Friday. Chevron Corporation has a twelve month low of $132.04 and a twelve month high of $168.96. The stock has a market capitalization of $297.38 billion, a price-to-earnings ratio of 20.77, a price-to-earnings-growth ratio of 8.88 and a beta of 0.68. The company has a quick ratio of 0.86, a current ratio of 1.15 and a debt-to-equity ratio of 0.19. The firm’s fifty day simple moving average is $152.34 and its two-hundred day simple moving average is $152.30.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, October 31st. The oil and gas company reported $1.85 EPS for the quarter, topping analysts’ consensus estimates of $1.71 by $0.14. The firm had revenue of $48.17 billion during the quarter, compared to analysts’ expectations of $46.99 billion. Chevron had a net margin of 6.57% and a return on equity of 8.74%. The firm’s revenue for the quarter was down 1.9% compared to the same quarter last year. During the same period in the previous year, the company earned $2.48 EPS. As a group, analysts anticipate that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 10th. Stockholders of record on Tuesday, November 18th were paid a dividend of $1.71 per share. The ex-dividend date of this dividend was Tuesday, November 18th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.6%. Chevron’s dividend payout ratio is currently 96.20%.

Insider Activity at Chevron

In other news, Director John B. Hess sold 275,000 shares of the stock in a transaction that occurred on Thursday, November 20th. The stock was sold at an average price of $150.75, for a total value of $41,456,250.00. Following the sale, the director directly owned 1,128,045 shares in the company, valued at approximately $170,052,783.75. This represents a 19.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.21% of the company’s stock.

About Chevron

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.