Tompkins Financial Corp Sells 2,394 Shares of Chevron Corporation $CVX

Key Points

• Tompkins Financial Corp reduced its stake in Chevron Corporation by 11.7%, selling 2,394 shares to hold a total of 17,993 shares valued at approximately $2.58 million.
• Several institutional investors significantly increased their holdings in Chevron during the fourth quarter, with Bank Pictet & Cie Europe AG boosting its position by 7.9% and State of Wyoming raising its stake by an astounding 662.3%.
• Chevron recently announced a quarterly dividend of $1.71 per share, reflecting a strong annualized dividend of $6.84 and yielding approximately 4.3% for investors.

Tompkins Financial Corp lessened its stake in Chevron Corporation (NYSE:CVX - Free Report) by 11.7% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,993 shares of the oil and gas company's stock after selling 2,394 shares during the quarter. Tompkins Financial Corp's holdings in Chevron were worth $2,576,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. GQG Partners LLC acquired a new position in Chevron during the first quarter valued at approximately $1,466,751,000. Nuveen LLC bought a new position in shares of Chevron in the 1st quarter valued at about $1,362,232,000. GAMMA Investing LLC increased its stake in shares of Chevron by 21,191.5% during the 1st quarter. GAMMA Investing LLC now owns 5,408,248 shares of the oil and gas company's stock worth $904,746,000 after purchasing an additional 5,382,847 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Chevron by 4.9% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 33,430,030 shares of the oil and gas company's stock valued at $5,592,263,000 after purchasing an additional 1,574,464 shares during the period. Finally, Canada Pension Plan Investment Board raised its stake in Chevron by 141.2% in the 1st quarter. Canada Pension Plan Investment Board now owns 1,891,824 shares of the oil and gas company's stock valued at $316,483,000 after acquiring an additional 1,107,628 shares during the period. 72.42% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have weighed in on CVX shares. Barclays reissued an "equal weight" rating on shares of Chevron in a report on Tuesday, July 15th. Morgan Stanley initiated coverage on shares of Chevron in a research report on Monday, August 4th. They issued an "overweight" rating and a $174.00 price target for the company. Jefferies Financial Group reissued a "buy" rating on shares of Chevron in a research report on Friday, July 18th. TD Cowen lifted their price objective on Chevron from $150.00 to $155.00 and gave the company a "hold" rating in a report on Monday, August 4th. Finally, Raymond James Financial reissued an "outperform" rating on shares of Chevron in a report on Friday, August 1st. Eleven analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, Chevron has a consensus rating of "Hold" and an average price target of $165.05.

Insider Transactions at Chevron

In other news, VP Alana K. Knowles sold 3,978 shares of the firm's stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $160.00, for a total transaction of $636,480.00. Following the completion of the sale, the vice president owned 1,181 shares in the company, valued at $188,960. This trade represents a 77.11% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director John B. Hess sold 375,000 shares of the company's stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $158.30, for a total value of $59,362,500.00. Following the transaction, the director directly owned 1,403,045 shares in the company, valued at $222,102,023.50. This represents a 21.09% decrease in their position. The disclosure for this sale can be found here. 0.21% of the stock is owned by insiders.

Chevron Trading Down 1.7%

CVX stock traded down $2.73 during trading on Friday, hitting $156.11. The company had a trading volume of 16,709,599 shares, compared to its average volume of 7,286,043. The company has a current ratio of 1.00, a quick ratio of 0.74 and a debt-to-equity ratio of 0.16. Chevron Corporation has a one year low of $132.04 and a one year high of $168.96. The business has a 50-day moving average of $155.24 and a 200-day moving average of $149.00. The stock has a market cap of $269.76 billion, a PE ratio of 20.09, a PEG ratio of 1.99 and a beta of 0.90.

Chevron (NYSE:CVX - Get Free Report) last posted its quarterly earnings results on Friday, August 1st. The oil and gas company reported $1.77 EPS for the quarter, topping analysts' consensus estimates of $1.58 by $0.19. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The business had revenue of $44.82 billion during the quarter, compared to analysts' expectations of $44.59 billion. During the same period last year, the company posted $2.55 earnings per share. The business's quarterly revenue was down 12.4% on a year-over-year basis. Research analysts predict that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th were issued a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date of this dividend was Tuesday, August 19th. Chevron's payout ratio is 88.03%.

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.