Baker Boyer National Bank Has $997,000 Holdings in Chevron Co. (NYSE:CVX)

Baker Boyer National Bank lifted its position in Chevron Co. (NYSE:CVX) by 12.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,338 shares of the oil and gas company’s stock after acquiring an additional 686 shares during the period. Chevron makes up approximately 0.4% of Baker Boyer National Bank’s holdings, making the stock its 27th biggest holding. Baker Boyer National Bank’s holdings in Chevron were worth $997,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Rebalance LLC acquired a new stake in shares of Chevron in the 4th quarter valued at approximately $26,000. NewSquare Capital LLC raised its holdings in Chevron by 52.3% during the 1st quarter. NewSquare Capital LLC now owns 195 shares of the oil and gas company’s stock worth $32,000 after buying an additional 67 shares during the period. Artemis Wealth Advisors LLC acquired a new stake in Chevron during the 1st quarter worth approximately $33,000. HBC Financial Services PLLC acquired a new stake in Chevron during the 1st quarter worth approximately $37,000. Finally, Worth Asset Management LLC acquired a new stake in Chevron during the 1st quarter worth approximately $36,000. 68.87% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Chevron

In other Chevron news, VP Jeff B. Gustavson sold 3,750 shares of the firm’s stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $160.88, for a total transaction of $603,300.00. Following the completion of the sale, the vice president now owns 1,718 shares of the company’s stock, valued at approximately $276,391.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, VP Jeff B. Gustavson sold 3,750 shares of Chevron stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $160.88, for a total transaction of $603,300.00. Following the completion of the sale, the vice president now owns 1,718 shares of the company’s stock, valued at $276,391.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Pierre R. Breber sold 25,000 shares of Chevron stock in a transaction on Friday, August 11th. The stock was sold at an average price of $164.00, for a total value of $4,100,000.00. Following the sale, the chief financial officer now directly owns 6,021 shares of the company’s stock, valued at approximately $987,444. The disclosure for this sale can be found here. Insiders own 0.18% of the company’s stock.

Chevron Price Performance

NYSE:CVX opened at $167.22 on Tuesday. The firm has a fifty day simple moving average of $160.80 and a 200 day simple moving average of $160.15. Chevron Co. has a 1-year low of $140.46 and a 1-year high of $189.68. The stock has a market capitalization of $312.24 billion, a PE ratio of 10.60, a P/E/G ratio of 0.88 and a beta of 1.18. The company has a current ratio of 1.43, a quick ratio of 1.13 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, July 28th. The oil and gas company reported $3.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.95 by $0.13. Chevron had a return on equity of 19.48% and a net margin of 13.54%. The business had revenue of $48.90 billion during the quarter, compared to the consensus estimate of $48 billion. During the same quarter last year, the firm posted $5.82 EPS. The company’s quarterly revenue was down 28.9% on a year-over-year basis. On average, research analysts expect that Chevron Co. will post 13.23 EPS for the current fiscal year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 11th. Shareholders of record on Friday, August 18th were issued a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a yield of 3.61%. The ex-dividend date was Thursday, August 17th. Chevron’s dividend payout ratio is 38.30%.

Analysts Set New Price Targets

Several analysts have commented on the stock. Mizuho raised their target price on shares of Chevron from $209.00 to $215.00 and gave the stock a “buy” rating in a report on Monday. StockNews.com began coverage on shares of Chevron in a report on Thursday, August 17th. They set a “hold” rating on the stock. UBS Group raised their price target on shares of Chevron from $202.00 to $209.00 and gave the stock a “buy” rating in a research note on Thursday, August 17th. JPMorgan Chase & Co. raised shares of Chevron from an “underweight” rating to a “neutral” rating and raised their price target for the stock from $161.00 to $170.00 in a research note on Wednesday, May 31st. Finally, Morgan Stanley raised their price target on shares of Chevron from $197.00 to $198.00 and gave the stock an “equal weight” rating in a research note on Friday, August 18th. Seven analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $190.61.

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; liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and processing, transportation, storage, and marketing of natural gas, as well as a gas-to-liquids plant.