Umpqua Bank Acquires 1,078 Shares of Chevron Co. (NYSE:CVX)

Umpqua Bank raised its position in Chevron Co. (NYSE:CVX) by 5.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,827 shares of the oil and gas company’s stock after purchasing an additional 1,078 shares during the quarter. Chevron accounts for approximately 1.2% of Umpqua Bank’s holdings, making the stock its 16th largest holding. Umpqua Bank’s holdings in Chevron were worth $3,101,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the company. Pacifica Partners Inc. increased its stake in shares of Chevron by 1.8% in the first quarter. Pacifica Partners Inc. now owns 3,492 shares of the oil and gas company’s stock worth $546,000 after purchasing an additional 63 shares in the last quarter. Private Wealth Management Group LLC lifted its stake in Chevron by 15.7% in the 1st quarter. Private Wealth Management Group LLC now owns 464 shares of the oil and gas company’s stock worth $73,000 after purchasing an additional 63 shares in the last quarter. Montz Harcus Wealth Management LLC lifted its stake in Chevron by 2.2% in the 2nd quarter. Montz Harcus Wealth Management LLC now owns 2,943 shares of the oil and gas company’s stock worth $460,000 after purchasing an additional 63 shares in the last quarter. Hubbell Strickland Wealth Management LLC boosted its holdings in Chevron by 0.7% in the 2nd quarter. Hubbell Strickland Wealth Management LLC now owns 9,493 shares of the oil and gas company’s stock valued at $1,485,000 after purchasing an additional 64 shares during the period. Finally, Ellenbecker Investment Group grew its position in shares of Chevron by 1.5% during the 1st quarter. Ellenbecker Investment Group now owns 4,346 shares of the oil and gas company’s stock valued at $686,000 after purchasing an additional 65 shares in the last quarter. Institutional investors own 72.42% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on CVX shares. Scotiabank dropped their price objective on Chevron from $195.00 to $180.00 and set a “sector outperform” rating for the company in a research note on Friday, July 12th. Mizuho lifted their price target on Chevron from $200.00 to $205.00 and gave the company a “buy” rating in a research report on Monday, May 13th. Royal Bank of Canada decreased their price objective on shares of Chevron from $190.00 to $180.00 and set an “outperform” rating on the stock in a research report on Monday, August 5th. Barclays dropped their target price on shares of Chevron from $203.00 to $185.00 and set an “overweight” rating for the company in a research report on Tuesday, August 6th. Finally, Wolfe Research initiated coverage on shares of Chevron in a research report on Thursday, July 18th. They set a “peer perform” rating on the stock. Seven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $183.82.

Chevron Price Performance

CVX opened at $138.56 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.16 and a quick ratio of 0.85. The stock’s 50 day simple moving average is $150.82 and its 200 day simple moving average is $155.26. The firm has a market cap of $253.42 billion, a price-to-earnings ratio of 12.75, a PEG ratio of 2.40 and a beta of 1.09. Chevron Co. has a 1 year low of $137.87 and a 1 year high of $171.70.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.55 EPS for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). The firm had revenue of $51.18 billion for the quarter, compared to the consensus estimate of $48.68 billion. Chevron had a net margin of 9.31% and a return on equity of 13.70%. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.08 earnings per share. As a group, analysts predict that Chevron Co. will post 11.86 earnings per share 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 dividend of $1.63 per share. The ex-dividend date is Monday, August 19th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.71%. Chevron’s dividend payout ratio is currently 59.98%.

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.