Citizens & Northern Corp Lowers Stock Holdings in Chevron Co. (NYSE:CVX)

Citizens & Northern Corp trimmed its holdings in shares of Chevron Co. (NYSE:CVX) by 2.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,776 shares of the oil and gas company’s stock after selling 198 shares during the period. Citizens & Northern Corp’s holdings in Chevron were worth $1,160,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of CVX. Picton Mahoney Asset Management purchased a new position in shares of Chevron in the third quarter valued at about $26,000. Bare Financial Services Inc bought a new stake in Chevron during the 4th quarter valued at approximately $27,000. Valley Forge Investment Consultants Inc. ADV raised its position in shares of Chevron by 80.0% in the 3rd quarter. Valley Forge Investment Consultants Inc. ADV now owns 180 shares of the oil and gas company’s stock worth $30,000 after acquiring an additional 80 shares in the last quarter. Valued Wealth Advisors LLC bought a new stake in shares of Chevron during the fourth quarter valued at approximately $33,000. Finally, Roble Belko & Company Inc lifted its position in Chevron by 77.3% during the fourth quarter. Roble Belko & Company Inc now owns 344 shares of the oil and gas company’s stock valued at $51,000 after buying an additional 150 shares during the period. 72.42% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Enrique Hernandez, Jr. sold 2,549 shares of the company’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $165.24, for a total transaction of $421,196.76. Following the sale, the director now owns 27,725 shares of the company’s stock, valued at $4,581,279. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Director Enrique Hernandez, Jr. sold 2,549 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $165.24, for a total transaction of $421,196.76. Following the transaction, the director now owns 27,725 shares of the company’s stock, valued at approximately $4,581,279. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Enrique Hernandez, Jr. sold 5,098 shares of Chevron stock in a transaction on Monday, May 6th. The stock was sold at an average price of $163.50, for a total transaction of $833,523.00. Following the transaction, the director now directly owns 2,549 shares of the company’s stock, valued at $416,761.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 15,796 shares of company stock worth $2,575,361. 0.20% of the stock is currently owned by insiders.

Chevron Price Performance

Shares of NYSE CVX traded down $0.77 during midday trading on Thursday, reaching $156.80. The stock had a trading volume of 4,718,159 shares, compared to its average volume of 8,155,810. The company has a market capitalization of $289.61 billion, a price-to-earnings ratio of 14.47, a price-to-earnings-growth ratio of 2.36 and a beta of 1.11. Chevron Co. has a 12-month low of $139.62 and a 12-month high of $171.70. The stock has a 50-day moving average of $160.15 and a 200-day moving average of $152.38. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.93 and a current ratio of 1.23.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, April 26th. The oil and gas company reported $2.93 earnings per share for the quarter, topping 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 firm had revenue of $48.72 billion during the quarter, compared to analyst estimates of $48.42 billion. During the same quarter in the prior year, the company posted $3.55 earnings per share. The business’s quarterly revenue was down 4.1% compared to the same quarter last year. As a group, research analysts anticipate that Chevron Co. will post 13.57 EPS for the current fiscal year.

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 17th will be given a dividend of $1.63 per share. The ex-dividend date is Thursday, May 16th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.16%. Chevron’s payout ratio is 59.98%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. TD Cowen raised their target price on shares of Chevron from $155.00 to $160.00 and gave the company a “hold” rating in a research note on Monday, April 29th. HSBC upped their price target on shares of Chevron from $175.00 to $178.00 and gave the stock a “buy” rating in a research note on Tuesday, April 30th. Piper Sandler upped their target price on shares of Chevron from $180.00 to $204.00 and gave the stock an “overweight” rating in a research note on Thursday, April 18th. Raymond James upped their price objective on Chevron from $170.00 to $174.00 and gave the company an “outperform” rating in a research report on Monday, April 15th. Finally, Scotiabank upgraded Chevron from a “sector perform” rating to a “sector outperform” rating and boosted their price target for the stock from $170.00 to $195.00 in a research note on Thursday, April 11th. Six research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $186.10.

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.