Norwood Financial Corp Grows Stock Position in Chevron Co. (NYSE:CVX)

Norwood Financial Corp lifted its stake in Chevron Co. (NYSE:CVX) by 18.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,530 shares of the oil and gas company’s stock after purchasing an additional 240 shares during the period. Norwood Financial Corp’s holdings in Chevron were worth $241,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Renaissance Investment Group LLC raised its stake in Chevron by 12.7% in the fourth quarter. Renaissance Investment Group LLC now owns 6,187 shares of the oil and gas company’s stock valued at $923,000 after buying an additional 697 shares in the last quarter. Camelot Portfolios LLC acquired a new stake in Chevron in the fourth quarter valued at $254,000. Kapstone Financial Advisors LLC raised its stake in Chevron by 5.3% in the fourth quarter. Kapstone Financial Advisors LLC now owns 4,216 shares of the oil and gas company’s stock valued at $626,000 after buying an additional 211 shares in the last quarter. Lane & Associates LLC acquired a new stake in Chevron in the first quarter valued at $345,000. Finally, Guyasuta Investment Advisors Inc. raised its stake in Chevron by 1.7% in the fourth quarter. Guyasuta Investment Advisors Inc. now owns 216,593 shares of the oil and gas company’s stock valued at $32,307,000 after buying an additional 3,603 shares in the last quarter. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Chevron Price Performance

Shares of CVX opened at $156.42 on Friday. Chevron Co. has a twelve month low of $139.62 and a twelve month high of $171.70. The stock’s 50 day moving average is $159.22 and its two-hundred day moving average is $154.62. The firm has a market capitalization of $288.28 billion, a PE ratio of 14.39, a P/E/G ratio of 2.38 and a beta of 1.12. The company has a current ratio of 1.23, a quick ratio of 0.93 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, April 26th. The oil and gas company reported $2.93 earnings per share for the quarter, beating analysts’ consensus estimates of $2.84 by $0.09. Chevron had a return on equity of 14.40% and a net margin of 10.21%. The company had revenue of $48.72 billion for the quarter, compared to analyst estimates of $48.42 billion. During the same quarter in the previous year, the company earned $3.55 EPS. The firm’s revenue for the quarter was down 4.1% compared to the same quarter last year. Research analysts anticipate that Chevron Co. will post 13.15 earnings per share for the current year.

Chevron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Friday, May 17th were issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 4.17%. The ex-dividend date was Thursday, May 16th. Chevron’s dividend payout ratio is presently 59.98%.

Insider Buying and Selling at Chevron

In other news, Director Enrique Hernandez, Jr. sold 2,549 shares of the business’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $161.00, for a total transaction of $410,389.00. Following the sale, the director now owns 7,647 shares of the company’s stock, valued at approximately $1,231,167. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Enrique Hernandez, Jr. sold 2,549 shares of the business’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $161.00, for a total transaction of $410,389.00. Following the sale, the director now owns 7,647 shares of the company’s stock, valued at approximately $1,231,167. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Alana K. Knowles sold 2,800 shares of the business’s stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $165.00, for a total value of $462,000.00. Following the sale, the vice president now directly owns 276 shares in the company, valued at approximately $45,540. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 19,546 shares of company stock valued at $3,176,223. 0.20% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Barclays began coverage on Chevron in a research note on Wednesday, April 10th. They issued an “overweight” rating and a $203.00 price target on the stock. Wells Fargo & Company lifted their target price on Chevron from $198.00 to $206.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 30th. Mizuho lifted their target price on Chevron from $200.00 to $205.00 and gave the stock a “buy” rating in a research report on Monday, May 13th. Scotiabank upgraded Chevron from a “sector perform” rating to a “sector outperform” rating and lifted their target price for the stock from $170.00 to $195.00 in a research report on Thursday, April 11th. Finally, HSBC lifted their target price on Chevron from $175.00 to $178.00 and gave the stock a “buy” rating in a research report on Tuesday, April 30th. Five analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $186.95.

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.