Orrstown Financial Services Inc. Sells 866 Shares of Chevron Co. (CVX)

Orrstown Financial Services Inc. reduced its holdings in Chevron Co. (NYSE:CVX) by 9.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,219 shares of the oil and gas company’s stock after selling 866 shares during the period. Orrstown Financial Services Inc.’s holdings in Chevron were worth $1,029,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. Valley National Advisers Inc. increased its position in Chevron by 0.4% during the second quarter. Valley National Advisers Inc. now owns 2,612 shares of the oil and gas company’s stock worth $273,000 after purchasing an additional 11 shares during the last quarter. Deschutes Portfolio Strategy LLC increased its position in Chevron by 0.5% during the second quarter. Deschutes Portfolio Strategy LLC now owns 2,889 shares of the oil and gas company’s stock worth $301,000 after purchasing an additional 13 shares during the last quarter. Regis Management CO LLC increased its position in Chevron by 0.4% during the second quarter. Regis Management CO LLC now owns 3,269 shares of the oil and gas company’s stock worth $341,000 after purchasing an additional 14 shares during the last quarter. Keel Point LLC increased its position in Chevron by 0.5% during the second quarter. Keel Point LLC now owns 2,759 shares of the oil and gas company’s stock worth $288,000 after purchasing an additional 14 shares during the last quarter. Finally, FCG Advisors LLC increased its position in Chevron by 0.4% during the second quarter. FCG Advisors LLC now owns 3,907 shares of the oil and gas company’s stock worth $408,000 after purchasing an additional 15 shares during the last quarter. 64.98% of the stock is currently owned by hedge funds and other institutional investors.

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Shares of NYSE CVX traded down $2.53 during midday trading on Friday, hitting $114.76. The company’s stock had a trading volume of 7,094,466 shares, compared to its average volume of 6,380,933. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.83 and a current ratio of 1.03. Chevron Co. has a 1 year low of $102.55 and a 1 year high of $133.88. The firm has a market cap of $224,053.58, a price-to-earnings ratio of 31.02, a PEG ratio of 2.31 and a beta of 1.16.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, February 2nd. The oil and gas company reported $0.73 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.27 by ($0.54). Chevron had a net margin of 6.49% and a return on equity of 5.22%. The business had revenue of $37.62 billion during the quarter, compared to analysts’ expectations of $38.43 billion. During the same period in the previous year, the business posted $0.22 EPS. The company’s revenue for the quarter was up 19.4% compared to the same quarter last year. equities analysts predict that Chevron Co. will post 6.35 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Monday, March 12th. Investors of record on Friday, February 16th were paid a $1.12 dividend. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $4.48 dividend on an annualized basis and a yield of 3.90%. This is an increase from Chevron’s previous quarterly dividend of $1.08. Chevron’s payout ratio is currently 121.08%.

Several equities research analysts recently issued reports on CVX shares. Zacks Investment Research upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $140.00 price objective for the company in a research report on Wednesday, December 27th. Vetr upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $134.35 price target for the company in a research report on Tuesday, December 26th. Scotiabank reiterated a “buy” rating and set a $130.00 price target on shares of Chevron in a research report on Friday, December 22nd. Jefferies Group reiterated a “buy” rating and set a $140.00 price target on shares of Chevron in a research report on Wednesday, December 20th. Finally, Piper Jaffray reiterated a “buy” rating and set a $153.00 price target on shares of Chevron in a research report on Wednesday, January 24th. One analyst has rated the stock with a sell rating, eight have given a hold rating and nineteen have assigned a buy rating to the stock. Chevron has a consensus rating of “Buy” and an average price target of $129.79.

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About Chevron

Chevron Corporation (Chevron) manages its investments in subsidiaries and affiliates, and provides administrative, financial, management and technology support to the United States and international subsidiaries that engage in integrated energy and chemicals operations. The Company operates through two business segments: Upstream and Downstream.

Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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