Penobscot Investment Management Company Inc. Grows Position in Chevron Co. (NYSE:CVX)

Penobscot Investment Management Company Inc. raised its holdings in Chevron Co. (NYSE:CVX) by 0.5% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 30,138 shares of the oil and gas company’s stock after acquiring an additional 150 shares during the period. Penobscot Investment Management Company Inc.’s holdings in Chevron were worth $3,751,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. BKD Wealth Advisors LLC grew its holdings in Chevron by 2.5% during the 4th quarter. BKD Wealth Advisors LLC now owns 31,824 shares of the oil and gas company’s stock worth $3,462,000 after acquiring an additional 763 shares in the last quarter. Palladium Partners LLC boosted its holdings in shares of Chevron by 1.4% in the 4th quarter. Palladium Partners LLC now owns 178,551 shares of the oil and gas company’s stock valued at $19,424,000 after buying an additional 2,493 shares during the period. Gardiner Nancy B boosted its holdings in shares of Chevron by 30.0% in the 4th quarter. Gardiner Nancy B now owns 2,600 shares of the oil and gas company’s stock valued at $284,000 after buying an additional 600 shares during the period. Kidder Stephen W boosted its holdings in shares of Chevron by 2.9% in the 4th quarter. Kidder Stephen W now owns 13,555 shares of the oil and gas company’s stock valued at $1,474,000 after buying an additional 380 shares during the period. Finally, Leavell Investment Management Inc. boosted its holdings in shares of Chevron by 0.3% in the 4th quarter. Leavell Investment Management Inc. now owns 46,301 shares of the oil and gas company’s stock valued at $5,037,000 after buying an additional 130 shares during the period. 66.45% of the stock is currently owned by hedge funds and other institutional investors.

In other Chevron news, Chairman Michael K. Wirth sold 33,750 shares of the business’s stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $125.60, for a total transaction of $4,239,000.00. Following the sale, the chairman now directly owns 33,750 shares in the company, valued at approximately $4,239,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Joseph C. Geagea sold 8,000 shares of the business’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $122.50, for a total transaction of $980,000.00. Following the sale, the insider now owns 9,243 shares in the company, valued at $1,132,267.50. The disclosure for this sale can be found here. Insiders have sold a total of 51,750 shares of company stock worth $6,448,700 over the last 90 days. 0.31% of the stock is owned by insiders.

Several research analysts have recently commented on the stock. Barclays assumed coverage on shares of Chevron in a report on Monday. They issued an “overweight” rating and a $145.00 price target for the company. Zacks Investment Research lowered shares of Chevron from a “buy” rating to a “hold” rating in a report on Tuesday, May 7th. BMO Capital Markets assumed coverage on shares of Chevron in a report on Tuesday. They issued an “outperform” rating and a $165.00 price target for the company. Morgan Stanley decreased their price target on shares of Chevron from $146.00 to $144.00 and set an “overweight” rating for the company in a report on Friday, July 12th. Finally, Citigroup assumed coverage on shares of Chevron in a report on Monday, May 13th. They issued a “buy” rating and a $135.00 price target for the company. Five equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $136.78.

NYSE:CVX traded up $1.66 during mid-day trading on Wednesday, hitting $117.79. The stock had a trading volume of 552,360 shares, compared to its average volume of 6,095,443. The stock has a market capitalization of $219.86 billion, a price-to-earnings ratio of 14.28, a P/E/G ratio of 2.79 and a beta of 1.00. The company has a 50 day simple moving average of $122.50 and a 200-day simple moving average of $121.41. Chevron Co. has a 52 week low of $100.22 and a 52 week high of $127.60. The company has a current ratio of 1.15, a quick ratio of 0.91 and a debt-to-equity ratio of 0.16.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.27 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.74 by $0.53. The firm had revenue of $38.85 billion for the quarter, compared to the consensus estimate of $40.14 billion. Chevron had a net margin of 9.18% and a return on equity of 9.58%. Chevron’s quarterly revenue was down 8.0% compared to the same quarter last year. During the same period last year, the firm posted $1.78 EPS. As a group, equities research analysts anticipate that Chevron Co. will post 6.93 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Monday, August 19th will be given a $1.19 dividend. The ex-dividend date is Friday, August 16th. This represents a $4.76 annualized dividend and a yield of 4.04%. Chevron’s dividend payout ratio is presently 57.70%.

Chevron Company Profile

Chevron Corporation, through its subsidiaries, engages in integrated energy, chemicals, and petroleum operations worldwide. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, and production of crude oil and natural gas; processing, liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and transportation, storage, and marketing of natural gas, as well as operates a gas-to-liquids plant.

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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