Probity Advisors Inc. Purchases 83 Shares of Chevron Corporation $CVX

Probity Advisors Inc. raised its holdings in Chevron Corporation (NYSE:CVX) by 2.3% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,662 shares of the oil and gas company’s stock after buying an additional 83 shares during the quarter. Probity Advisors Inc.’s holdings in Chevron were worth $524,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in CVX. Greenfield Savings Bank lifted its holdings in Chevron by 0.6% in the second quarter. Greenfield Savings Bank now owns 11,611 shares of the oil and gas company’s stock valued at $1,663,000 after buying an additional 68 shares during the period. Atwater Malick LLC increased its stake in Chevron by 2.4% in the 2nd quarter. Atwater Malick LLC now owns 2,886 shares of the oil and gas company’s stock valued at $413,000 after buying an additional 68 shares during the last quarter. Hubbell Strickland Wealth Management LLC grew its stake in Chevron by 0.7% in the second quarter. Hubbell Strickland Wealth Management LLC now owns 10,081 shares of the oil and gas company’s stock valued at $1,443,000 after purchasing an additional 68 shares in the last quarter. Mowery & Schoenfeld Wealth Management LLC increased its position in Chevron by 10.3% during the second quarter. Mowery & Schoenfeld Wealth Management LLC now owns 750 shares of the oil and gas company’s stock worth $107,000 after buying an additional 70 shares during the last quarter. Finally, Capital Advisors Ltd. LLC boosted its position in Chevron by 4.1% during the second quarter. Capital Advisors Ltd. LLC now owns 1,815 shares of the oil and gas company’s stock worth $260,000 after purchasing an additional 71 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Analyst Upgrades and Downgrades

CVX has been the subject of a number of recent research reports. UBS Group boosted their target price on shares of Chevron from $186.00 to $197.00 and gave the company a “buy” rating in a research report on Wednesday, August 20th. Barclays reduced their price objective on Chevron from $160.00 to $158.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 7th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Chevron in a report on Friday, July 18th. Wells Fargo & Company initiated coverage on shares of Chevron in a research note on Friday. They set an “overweight” rating and a $190.00 price target for the company. Finally, Morgan Stanley began coverage on shares of Chevron in a research report on Monday, August 4th. They set an “overweight” rating and a $174.00 target price for the company. Eleven equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $165.25.

Insider Transactions at Chevron

In other Chevron news, VP Alana K. Knowles sold 3,978 shares of the firm’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 completion of the sale, the vice president directly owned 1,181 shares in the company, valued at $188,960. This trade represents a 77.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director John B. Hess sold 375,000 shares of Chevron 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 $222,102,023.50. This represents a 21.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.20% of the company’s stock.

Chevron Trading Up 0.9%

NYSE:CVX opened at $154.53 on Tuesday. The company has a current ratio of 1.00, a quick ratio of 0.74 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $267.02 billion, a PE ratio of 19.89, a price-to-earnings-growth ratio of 2.02 and a beta of 0.84. Chevron Corporation has a 12 month low of $132.04 and a 12 month high of $168.96. The firm’s 50 day moving average is $156.05 and its 200 day moving average is $148.04.

Chevron (NYSE:CVX) last posted its earnings results 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 business 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%. Chevron’s revenue was down 12.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.55 EPS. Sell-side analysts expect that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Announces Dividend

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

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.