Tompkins Financial Corp Trims Stock Holdings in Chevron Corporation $CVX

Tompkins Financial Corp cut its holdings in shares of Chevron Corporation (NYSE:CVX) by 11.7% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 17,993 shares of the oil and gas company’s stock after selling 2,394 shares during the quarter. Tompkins Financial Corp’s holdings in Chevron were worth $2,576,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in CVX. Greenfield Savings Bank increased its stake in shares of Chevron by 0.6% in the second quarter. Greenfield Savings Bank now owns 11,611 shares of the oil and gas company’s stock worth $1,663,000 after buying an additional 68 shares during the last quarter. GDS Wealth Management grew its holdings in Chevron by 4.4% during the 1st quarter. GDS Wealth Management now owns 1,706 shares of the oil and gas company’s stock worth $285,000 after acquiring an additional 72 shares in the last quarter. AIMZ Investment Advisors LLC increased its holdings in shares of Chevron by 4.2% in the 1st quarter. AIMZ Investment Advisors LLC now owns 1,783 shares of the oil and gas company’s stock valued at $298,000 after acquiring an additional 72 shares during the last quarter. Garde Capital Inc. boosted its position in Chevron by 3.2% during the 2nd quarter. Garde Capital Inc. now owns 2,355 shares of the oil and gas company’s stock valued at $337,000 after purchasing an additional 72 shares during the period. Finally, Clayton Financial Group LLC grew its stake in Chevron by 4.6% during the 1st quarter. Clayton Financial Group LLC now owns 1,702 shares of the oil and gas company’s stock worth $285,000 after buying an additional 75 shares during the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Chevron Stock Up 0.3%

CVX opened at $159.98 on Thursday. The company has a market capitalization of $276.44 billion, a PE ratio of 20.59, a price-to-earnings-growth ratio of 2.00 and a beta of 0.90. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.00 and a quick ratio of 0.74. Chevron Corporation has a fifty-two week low of $132.04 and a fifty-two week high of $168.96. The business has a 50-day moving average of $155.13 and a 200-day moving average of $148.94.

Chevron (NYSE:CVX) last announced its quarterly 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. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The business had revenue of $44.82 billion during the quarter, compared to analysts’ expectations of $44.59 billion. During the same quarter in the previous year, the business posted $2.55 EPS. The firm’s quarterly revenue was down 12.4% compared to the same quarter last year. Equities research 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 was paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th were paid a dividend of $1.71 per share. The ex-dividend date was Tuesday, August 19th. This represents a $6.84 annualized dividend and a dividend yield of 4.3%. Chevron’s dividend payout ratio is 88.03%.

Analyst Ratings Changes

CVX has been the topic of a number of recent research reports. UBS Group raised their target price on Chevron from $186.00 to $197.00 and gave the company a “buy” rating in a research note on Wednesday, August 20th. Melius Research 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 on the stock. Wells Fargo & Company reissued an “overweight” rating and set a $178.00 target price on shares of Chevron in a research note on Friday, August 1st. Raymond James Financial reissued an “outperform” rating on shares of Chevron in a report on Friday, August 1st. Finally, Bank of America lifted their price objective on shares of Chevron from $170.00 to $185.00 and gave the stock a “buy” rating in a research note on Wednesday, September 10th. Eleven research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $165.05.

Insiders Place Their Bets

In related news, VP Alana K. Knowles sold 3,978 shares of Chevron stock in a transaction 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 of the company’s stock, valued at approximately $188,960. The trade was a 77.11% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director John B. Hess sold 375,000 shares of the company’s stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $158.30, for a total transaction of $59,362,500.00. Following the completion of the sale, the director owned 1,403,045 shares of the company’s stock, 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. 0.21% of the stock is currently owned by company insiders.

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.