Peoples Financial Services CORP. Has $2.84 Million Position in Chevron Co. (NYSE:CVX)

Peoples Financial Services CORP. trimmed its position in Chevron Co. (NYSE:CVX) by 2.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 18,053 shares of the oil and gas company’s stock after selling 405 shares during the quarter. Chevron comprises approximately 1.3% of Peoples Financial Services CORP.’s holdings, making the stock its 18th largest position. Peoples Financial Services CORP.’s holdings in Chevron were worth $2,841,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of CVX. Kathmere Capital Management LLC raised its holdings in shares of Chevron by 135.6% in the 2nd quarter. Kathmere Capital Management LLC now owns 3,666 shares of the oil and gas company’s stock worth $577,000 after buying an additional 2,110 shares in the last quarter. Flagship Harbor Advisors LLC increased its stake in shares of Chevron by 7.7% in the 2nd quarter. Flagship Harbor Advisors LLC now owns 24,485 shares of the oil and gas company’s stock valued at $3,853,000 after acquiring an additional 1,746 shares during the last quarter. Curated Wealth Partners LLC grew its stake in Chevron by 6.2% in the second quarter. Curated Wealth Partners LLC now owns 2,136 shares of the oil and gas company’s stock valued at $336,000 after acquiring an additional 124 shares during the period. Castle Rock Wealth Management LLC lifted its stake in Chevron by 5.8% in the second quarter. Castle Rock Wealth Management LLC now owns 98,384 shares of the oil and gas company’s stock valued at $15,378,000 after buying an additional 5,431 shares in the last quarter. Finally, Greylin Investment Management Inc boosted its stake in Chevron by 0.8% in the 2nd quarter. Greylin Investment Management Inc now owns 38,615 shares of the oil and gas company’s stock worth $6,076,000 after purchasing an additional 295 shares during the period. 68.87% of the stock is currently owned by institutional investors and hedge funds.

Chevron Price Performance

CVX opened at $167.22 on Tuesday. The firm has a 50-day moving average price of $160.80 and a 200-day moving average price of $160.15. The company has a market capitalization of $312.24 billion, a price-to-earnings ratio of 10.60, a PEG ratio of 0.88 and a beta of 1.18. The company has a quick ratio of 1.13, a current ratio of 1.43 and a debt-to-equity ratio of 0.13. Chevron Co. has a twelve month low of $140.46 and a twelve month high of $189.68.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, July 28th. The oil and gas company reported $3.08 EPS for the quarter, beating analysts’ consensus estimates of $2.95 by $0.13. The company had revenue of $48.90 billion during the quarter, compared to analyst estimates of $48 billion. Chevron had a net margin of 13.54% and a return on equity of 19.48%. Chevron’s revenue was down 28.9% compared to the same quarter last year. During the same period last year, the business earned $5.82 earnings per share. Equities analysts expect that Chevron Co. will post 13.23 EPS for the current year.

Chevron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 11th. Investors of record on Friday, August 18th were given a $1.51 dividend. The ex-dividend date was Thursday, August 17th. This represents a $6.04 dividend on an annualized basis and a dividend yield of 3.61%. Chevron’s dividend payout ratio (DPR) is presently 38.30%.

Insider Activity at Chevron

In other Chevron news, CFO Pierre R. Breber sold 25,000 shares of the firm’s stock in a transaction dated 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 owns 6,021 shares of the company’s stock, valued at approximately $987,444. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CFO Pierre R. Breber sold 25,000 shares of the stock in a transaction that occurred on Friday, August 11th. The stock was sold at an average price of $164.00, for a total transaction of $4,100,000.00. Following the completion of the sale, the chief financial officer now owns 6,021 shares of the company’s stock, valued at $987,444. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Jeff B. Gustavson sold 3,750 shares of the stock in a transaction that occurred on Thursday, August 3rd. The stock was sold at an average price of $160.88, for a total value 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 disclosure for this sale can be found here. 0.18% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. HSBC boosted their target price on Chevron from $180.00 to $184.00 in a research note on Wednesday, August 9th. Morgan Stanley boosted their price objective on shares of Chevron from $197.00 to $198.00 and gave the company an “equal weight” rating in a report on Friday, August 18th. UBS Group increased their price target on shares of Chevron from $202.00 to $209.00 and gave the stock a “buy” rating in a research report on Thursday, August 17th. Piper Sandler decreased their target price on shares of Chevron from $196.00 to $188.00 in a research note on Tuesday, June 13th. Finally, Truist Financial raised their price objective on shares of Chevron from $163.00 to $165.00 and gave the company a “hold” rating in a report on Monday, July 31st. Seven research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $190.61.

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; 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.