NORTHSTAR ASSET MANAGEMENT Co Has $1.92 Million Stock Position in Chevron Corporation $CVX

NORTHSTAR ASSET MANAGEMENT Co lowered its stake in shares of Chevron Corporation (NYSE:CVX) by 1.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 13,428 shares of the oil and gas company’s stock after selling 250 shares during the period. NORTHSTAR ASSET MANAGEMENT Co’s holdings in Chevron were worth $1,923,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in CVX. Harvest Fund Management Co. Ltd raised its holdings 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 valued at $25,000 after purchasing an additional 122 shares during the period. Elequin Capital LP acquired a new stake in shares of Chevron in the 1st quarter worth about $31,000. IMG Wealth Management Inc. raised its holdings in shares of Chevron by 52.3% in 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 during the last quarter. Cloud Capital Management LLC acquired a new stake in shares of Chevron in the 1st quarter worth about $39,000. Finally, Investment Management Corp VA ADV raised its holdings in shares of Chevron by 171.3% in the 1st quarter. Investment Management Corp VA ADV now owns 236 shares of the oil and gas company’s stock worth $39,000 after acquiring an additional 149 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Insider Activity at Chevron

In other Chevron news, Director John B. Hess sold 375,000 shares of the 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 directly owned 1,403,045 shares in the company, valued at $222,102,023.50. This represents a 21.09% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 completion of the sale, the vice president owned 1,181 shares in the company, valued at $188,960. This represents a 77.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by company insiders.

Chevron Trading Down 0.6%

Shares of CVX stock opened at $155.63 on Friday. The company has a 50 day moving average of $156.04 and a 200-day moving average of $148.38. The company has a quick ratio of 0.74, a current ratio of 1.00 and a debt-to-equity ratio of 0.16. Chevron Corporation has a 12-month low of $132.04 and a 12-month high of $168.96. The firm has a market cap of $268.92 billion, a P/E ratio of 20.03, a PEG ratio of 4.45 and a beta of 0.84.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, August 1st. The oil and gas company reported $1.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.58 by $0.19. The company had revenue of $44.82 billion during 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 quarterly revenue was down 12.4% compared to the same quarter last year. During the same quarter last year, the business posted $2.55 EPS. Sell-side analysts anticipate that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Announces Dividend

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

Wall Street Analysts Forecast Growth

CVX has been the topic of a number of analyst reports. Jefferies Financial Group restated a “buy” rating on shares of Chevron in a report on Friday, July 18th. TD Cowen upped their target price on shares of Chevron from $150.00 to $155.00 and gave the stock a “hold” rating in a report on Monday, August 4th. Morgan Stanley began coverage on shares of Chevron in a report on Monday, August 4th. They issued an “overweight” rating and a $174.00 target price on the stock. Bank of America upped their price objective 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. Finally, Melius began coverage on shares of Chevron in a research report on Wednesday, August 20th. They issued a “hold” rating and a $155.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $165.25.

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.