Hummer Financial Advisory Services Inc Sells 250 Shares of Chevron Co. (NYSE:CVX)

Hummer Financial Advisory Services Inc decreased its holdings in Chevron Co. (NYSE:CVX) by 5.3% in the second quarter, Holdings Channel reports. The firm owned 4,433 shares of the oil and gas company’s stock after selling 250 shares during the quarter. Hummer Financial Advisory Services Inc’s holdings in Chevron were worth $693,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Norges Bank purchased a new position in shares of Chevron in the 4th quarter worth $2,902,007,000. Berkshire Hathaway Inc boosted its stake in shares of Chevron by 14.4% in the 4th quarter. Berkshire Hathaway Inc now owns 126,093,326 shares of the oil and gas company’s stock worth $18,808,081,000 after buying an additional 15,845,037 shares during the last quarter. Capital World Investors boosted its stake in shares of Chevron by 43.5% in the 4th quarter. Capital World Investors now owns 15,513,887 shares of the oil and gas company’s stock worth $2,314,070,000 after buying an additional 4,700,289 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of Chevron by 73,888.2% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 4,602,805 shares of the oil and gas company’s stock worth $686,554,000 after buying an additional 4,596,584 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Chevron by 8.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 26,235,473 shares of the oil and gas company’s stock worth $3,886,821,000 after buying an additional 1,999,332 shares during the last quarter. Institutional investors own 72.42% of the company’s stock.

Chevron Price Performance

Shares of CVX stock traded up $0.50 during trading hours on Friday, hitting $144.99. The stock had a trading volume of 7,653,053 shares, compared to its average volume of 7,562,307. Chevron Co. has a one year low of $139.62 and a one year high of $171.70. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.23 and a quick ratio of 0.93. The stock’s 50-day moving average price is $154.87 and its two-hundred day moving average price is $156.06. The stock has a market capitalization of $267.21 billion, a price-to-earnings ratio of 13.34, a PEG ratio of 2.33 and a beta of 1.10.

Chevron (NYSE:CVX) last issued its earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.93 by ($0.38). Chevron had a return on equity of 13.64% and a net margin of 9.31%. The firm had revenue of $51.18 billion during the quarter, compared to the consensus estimate of $48.68 billion. During the same period last year, the firm posted $3.08 earnings per share. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. Equities analysts forecast that Chevron Co. will post 12.3 EPS for the current year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th will be issued a $1.63 dividend. The ex-dividend date of this dividend is Monday, August 19th. This represents a $6.52 annualized dividend and a dividend yield of 4.50%. Chevron’s dividend payout ratio (DPR) is 59.98%.

Insider Transactions at Chevron

In other Chevron news, VP Jeff B. Gustavson sold 3,750 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $160.23, for a total transaction of $600,862.50. Following the sale, the vice president now directly owns 477 shares of the company’s stock, valued at $76,429.71. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on CVX. Piper Sandler raised their price target on Chevron from $180.00 to $204.00 and gave the stock an “overweight” rating in a research note on Thursday, April 18th. Truist Financial lowered their target price on Chevron from $156.00 to $154.00 and set a “hold” rating on the stock in a research report on Monday, August 5th. Mizuho lifted their target price on Chevron from $200.00 to $205.00 and gave the company a “buy” rating in a research report on Monday, May 13th. HSBC lifted their target price on Chevron from $175.00 to $178.00 and gave the company a “buy” rating in a research report on Tuesday, April 30th. Finally, Raymond James lifted their target price on Chevron from $170.00 to $174.00 and gave the company an “outperform” rating in a research report on Monday, April 15th. Seven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, Chevron has a consensus rating of “Moderate Buy” and a consensus target price of $183.82.

Chevron Company 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.