OLD Second National Bank of Aurora Has $1.68 Million Holdings in Chevron Co. (NYSE:CVX)

OLD Second National Bank of Aurora trimmed its position in Chevron Co. (NYSE:CVX) by 2.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,630 shares of the oil and gas company’s stock after selling 282 shares during the quarter. OLD Second National Bank of Aurora’s holdings in Chevron were worth $1,677,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of CVX. MGB Wealth Management LLC boosted its holdings in Chevron by 14.8% in the first quarter. MGB Wealth Management LLC now owns 4,497 shares of the oil and gas company’s stock valued at $709,000 after acquiring an additional 580 shares during the last quarter. Kades & Cheifetz LLC lifted its stake in Chevron by 3.2% in the 1st quarter. Kades & Cheifetz LLC now owns 3,828 shares of the oil and gas company’s stock valued at $604,000 after acquiring an additional 118 shares in the last quarter. LCM Capital Management Inc raised its stake in shares of Chevron by 1.4% during the 1st quarter. LCM Capital Management Inc now owns 8,169 shares of the oil and gas company’s stock worth $1,289,000 after purchasing an additional 114 shares in the last quarter. VitalStone Financial LLC increased its holdings in shares of Chevron by 7.0% during the 1st quarter. VitalStone Financial LLC now owns 1,532 shares of the oil and gas company’s stock worth $242,000 after acquiring an additional 100 shares during the last quarter. Finally, Advisory Services Network LLC increased its holdings in shares of Chevron by 0.6% during the 1st quarter. Advisory Services Network LLC now owns 148,015 shares of the oil and gas company’s stock worth $23,348,000 after acquiring an additional 952 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on CVX. Mizuho upped their price objective on Chevron from $200.00 to $205.00 and gave the stock a “buy” rating in a research report on Monday, May 13th. Scotiabank raised Chevron from a “sector perform” rating to a “sector outperform” rating and raised their price objective for the company from $170.00 to $195.00 in a research note on Thursday, April 11th. TD Cowen raised their target price on Chevron from $155.00 to $160.00 and gave the company a “hold” rating in a report on Monday, April 29th. Piper Sandler raised their target price on Chevron from $180.00 to $204.00 and gave the company an “overweight” rating in a report on Thursday, April 18th. Finally, Barclays began coverage on Chevron in a report on Wednesday, April 10th. They set an “overweight” rating and a $203.00 price target on the stock. Five equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $187.89.

Chevron Stock Up 0.3 %

CVX stock traded up $0.50 during midday trading on Friday, hitting $155.76. The company’s stock had a trading volume of 2,940,135 shares, compared to its average volume of 7,906,430. The firm has a market capitalization of $287.06 billion, a P/E ratio of 14.25, a PEG ratio of 2.35 and a beta of 1.10. The firm has a 50-day simple moving average of $157.85 and a 200-day simple moving average of $155.03. Chevron Co. has a 52-week low of $139.62 and a 52-week high of $171.70. The company has a quick ratio of 0.93, a current ratio of 1.23 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, April 26th. The oil and gas company reported $2.93 EPS for the quarter, topping the consensus estimate of $2.84 by $0.09. The firm had revenue of $48.72 billion for the quarter, compared to analyst estimates of $48.42 billion. Chevron had a net margin of 10.21% and a return on equity of 14.40%. Chevron’s revenue for the quarter was down 4.1% compared to the same quarter last year. During the same period last year, the business earned $3.55 EPS. As a group, equities analysts forecast that Chevron Co. will post 13.18 EPS for the current year.

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Friday, May 17th were issued a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 4.19%. The ex-dividend date of this dividend was Thursday, May 16th. Chevron’s dividend payout ratio is currently 59.98%.

Insider Buying and Selling at Chevron

In other news, VP Alana K. Knowles sold 2,800 shares of the stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $165.00, for a total value of $462,000.00. Following the completion of the sale, the vice president now owns 276 shares of the company’s stock, valued at $45,540. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Chevron news, VP Alana K. Knowles sold 2,800 shares of the stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $165.00, for a total transaction of $462,000.00. Following the transaction, the vice president now directly owns 276 shares in the company, valued at approximately $45,540. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Enrique Hernandez, Jr. sold 5,098 shares of the firm’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $163.50, for a total transaction of $833,523.00. Following the completion of the transaction, the director now owns 2,549 shares in the company, valued at $416,761.50. The disclosure for this sale can be found here. Insiders have sold 16,746 shares of company stock valued at $2,727,971 over the last quarter. Corporate insiders own 0.20% 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.