Central Pacific Bank Trust Division Buys 5,301 Shares of Chevron Corporation $CVX

Central Pacific Bank Trust Division grew its stake in shares of Chevron Corporation (NYSE:CVX) by 37.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 19,425 shares of the oil and gas company’s stock after buying an additional 5,301 shares during the period. Central Pacific Bank Trust Division’s holdings in Chevron were worth $2,781,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CVX. Bank Pictet & Cie Europe AG boosted its holdings in Chevron by 7.9% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 35,985 shares of the oil and gas company’s stock worth $5,212,000 after buying an additional 2,641 shares during the last quarter. Raiffeisen Bank International AG bought a new position in Chevron during the fourth quarter worth about $258,000. Sherbrooke Park Advisers LLC bought a new position in Chevron during the fourth quarter worth about $389,000. SGL Investment Advisors Inc. boosted its holdings in Chevron by 1.5% during the fourth quarter. SGL Investment Advisors Inc. now owns 33,721 shares of the oil and gas company’s stock worth $5,223,000 after buying an additional 492 shares during the last quarter. Finally, Scissortail Wealth Management LLC raised its position in shares of Chevron by 23,923.8% during the fourth quarter. Scissortail Wealth Management LLC now owns 5,045 shares of the oil and gas company’s stock worth $731,000 after purchasing an additional 5,024 shares during the period. Institutional investors 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 business’s stock in a transaction that occurred on Friday, August 22nd. The stock was 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 approximately $222,102,023.50. The trade was a 21.09% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Alana K. Knowles sold 3,978 shares of the business’s stock in a transaction that occurred on 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 owned 1,181 shares in the company, valued at $188,960. The trade was a 77.11% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.21% of the company’s stock.

Wall Street Analysts Forecast Growth

CVX has been the topic of a number of research analyst reports. Melius initiated coverage on Chevron in a research report on Wednesday, August 20th. They set a “hold” rating and a $155.00 price target on the stock. Raymond James Financial reaffirmed an “outperform” rating on shares of Chevron in a research report on Friday, August 1st. Jefferies Financial Group reaffirmed a “buy” rating on shares of Chevron in a research report on Friday, July 18th. UBS Group raised their price target on Chevron from $186.00 to $197.00 and gave the stock a “buy” rating in a research report on Wednesday, August 20th. Finally, Morgan Stanley initiated coverage on Chevron in a research report on Monday, August 4th. They set an “overweight” rating and a $174.00 price target on the stock. Eleven analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $164.80.

Chevron Trading Down 0.6%

NYSE CVX opened at $157.23 on Friday. The stock has a market capitalization of $271.69 billion, a price-to-earnings ratio of 20.24, a PEG ratio of 2.00 and a beta of 0.90. The stock’s 50 day moving average price is $154.67 and its two-hundred day moving average price is $148.89. 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 52 week low of $132.04 and a 52 week high of $168.96.

Chevron (NYSE:CVX) last released its earnings results on Friday, August 1st. The oil and gas company reported $1.77 EPS for the quarter, beating the consensus estimate of $1.58 by $0.19. The firm had revenue of $44.82 billion for the quarter, compared to analysts’ expectations of $44.59 billion. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The business’s quarterly revenue was down 12.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.55 EPS. As a group, analysts anticipate that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th were paid a $1.71 dividend. The ex-dividend date was Tuesday, August 19th. This represents a $6.84 annualized dividend and a yield of 4.4%. Chevron’s payout ratio is presently 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.