Farmers National Bank Boosts Stock Holdings in Chevron Corporation $CVX

Farmers National Bank increased its stake in Chevron Corporation (NYSE:CVX) by 1.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 46,856 shares of the oil and gas company’s stock after acquiring an additional 489 shares during the period. Chevron makes up about 1.8% of Farmers National Bank’s holdings, making the stock its 17th largest holding. Farmers National Bank’s holdings in Chevron were worth $6,709,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Harvest Fund Management Co. Ltd grew its position in shares of Chevron by 420.7% during the first quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company’s stock worth $25,000 after buying an additional 122 shares in the last quarter. Elequin Capital LP purchased a new position in Chevron in the first quarter worth approximately $31,000. Quaker Wealth Management LLC lifted its stake in Chevron by 197.7% in the second quarter. Quaker Wealth Management LLC now owns 217 shares of the oil and gas company’s stock worth $31,000 after acquiring an additional 439 shares during the last quarter. IMG Wealth Management Inc. grew its holdings in Chevron by 52.3% during the 2nd quarter. IMG Wealth Management Inc. now owns 265 shares of the oil and gas company’s stock worth $38,000 after acquiring an additional 91 shares in the last quarter. Finally, GFG Capital LLC purchased a new stake in shares of Chevron in the 2nd quarter valued at approximately $42,000. 72.42% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director John B. Hess sold 275,000 shares of Chevron stock in a transaction 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 transaction, the director owned 1,128,045 shares in the company, valued at approximately $170,052,783.75. This trade represents a 19.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Alana K. Knowles sold 3,978 shares of the 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 sale, the vice president directly owned 1,181 shares of the company’s stock, valued at approximately $188,960. This trade represents a 77.11% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.21% of the stock is owned by insiders.

Chevron Price Performance

Shares of NYSE CVX opened at $149.79 on Tuesday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.74 and a current ratio of 1.00. Chevron Corporation has a one year low of $132.04 and a one year high of $168.96. The firm has a market capitalization of $301.61 billion, a P/E ratio of 19.28, a PEG ratio of 4.40 and a beta of 0.83. The company’s fifty day moving average is $154.68 and its two-hundred day moving average is $151.04.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, October 31st. The oil and gas company reported $1.85 earnings per share for the quarter, beating the consensus estimate of $1.71 by $0.14. The firm had revenue of $48.17 billion during the quarter, compared to the consensus estimate of $46.99 billion. Chevron had a return on equity of 9.90% and a net margin of 7.02%.Chevron’s quarterly revenue was down 1.9% on a year-over-year basis. During the same period last year, the business posted $2.48 EPS. Analysts forecast that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Tuesday, November 18th will be paid a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 4.6%. The ex-dividend date of this dividend is Tuesday, November 18th. Chevron’s dividend payout ratio (DPR) is presently 96.20%.

Analyst Upgrades and Downgrades

CVX has been the subject of several recent analyst reports. TD Cowen lifted their price objective on shares of Chevron from $150.00 to $155.00 and gave the stock a “hold” rating in a research report on Monday, August 4th. Bank of America lifted their price target on Chevron from $170.00 to $185.00 and gave the stock a “buy” rating in a report on Wednesday, September 10th. Raymond James Financial reaffirmed an “outperform” rating and set a $160.00 price objective (down from $170.00) on shares of Chevron in a research report on Friday, October 17th. Scotiabank raised their target price on Chevron from $160.00 to $165.00 and gave the stock a “sector perform” rating in a research report on Thursday, October 9th. Finally, Wells Fargo & Company boosted their target price on Chevron from $190.00 to $196.00 and gave the stock an “overweight” rating in a research note on Friday, November 14th. Eleven investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $166.55.

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.