Interchange Capital Partners LLC Has $803,000 Stake in Chevron Corporation $CVX

Interchange Capital Partners LLC trimmed its holdings in Chevron Corporation (NYSE:CVX) by 2.7% in the second quarter, Holdings Channel reports. The institutional investor owned 5,608 shares of the oil and gas company’s stock after selling 155 shares during the period. Interchange Capital Partners LLC’s holdings in Chevron were worth $803,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Greenfield Savings Bank increased its stake 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 acquiring an additional 68 shares during the last quarter. Atwater Malick LLC increased its stake in Chevron by 2.4% in the second quarter. Atwater Malick LLC now owns 2,886 shares of the oil and gas company’s stock valued at $413,000 after acquiring an additional 68 shares during the last quarter. Hubbell Strickland Wealth Management LLC increased 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 acquiring an additional 68 shares during the last quarter. Mowery & Schoenfeld Wealth Management LLC increased its stake in Chevron by 10.3% in the second quarter. Mowery & Schoenfeld Wealth Management LLC now owns 750 shares of the oil and gas company’s stock valued at $107,000 after acquiring an additional 70 shares during the last quarter. Finally, Capital Advisors Ltd. LLC increased its stake in Chevron by 4.1% in the second quarter. Capital Advisors Ltd. LLC now owns 1,815 shares of the oil and gas company’s stock valued at $260,000 after acquiring an additional 71 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CVX. Bank of America lifted their price objective on shares of Chevron from $170.00 to $185.00 and gave the company a “buy” rating in a research note on Wednesday, September 10th. Scotiabank lifted their price objective on shares of Chevron from $160.00 to $165.00 and gave the company a “sector perform” rating in a research note on Thursday, October 9th. Barclays decreased their target price on shares of Chevron from $160.00 to $158.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 7th. Wells Fargo & Company started coverage on shares of Chevron in a research note on Friday, October 17th. They set an “overweight” rating and a $190.00 target price on the stock. Finally, TD Cowen boosted their target price on shares of Chevron from $150.00 to $155.00 and gave the stock a “hold” rating in a research note on Monday, August 4th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, nine have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, Chevron has a consensus rating of “Hold” and a consensus target price of $165.25.

Chevron Stock Performance

Shares of Chevron stock opened at $155.63 on Friday. 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 twelve month low of $132.04 and a twelve month high of $168.96. The stock has a market cap of $268.92 billion, a price-to-earnings ratio of 20.03, a P/E/G ratio of 4.42 and a beta of 0.84. The company’s fifty day moving average is $156.04 and its 200 day moving average is $148.46.

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

Chevron Dividend Announcement

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

Insider Buying and Selling at Chevron

In related news, Director John B. Hess sold 375,000 shares of the business’s stock in a transaction 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 of the company’s stock, valued at $222,102,023.50. The trade was a 21.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Alana K. Knowles sold 3,978 shares of the business’s stock in a transaction 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 directly owned 1,181 shares in the company, valued at approximately $188,960. This represents 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.

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.