Orrstown Financial Services Inc. Has $1.29 Million Stock Position in Chevron Co. (NYSE:CVX)

Orrstown Financial Services Inc. boosted its stake in Chevron Co. (NYSE:CVX) by 9.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,916 shares of the oil and gas company’s stock after acquiring an additional 780 shares during the period. Orrstown Financial Services Inc.’s holdings in Chevron were worth $1,291,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Quarry LP raised its position in shares of Chevron by 172.2% in the 2nd quarter. Quarry LP now owns 411 shares of the oil and gas company’s stock worth $64,000 after acquiring an additional 260 shares in the last quarter. Gibson Wealth Advisors LLC increased its stake in shares of Chevron by 0.7% in the 2nd quarter. Gibson Wealth Advisors LLC now owns 11,248 shares of the oil and gas company’s stock valued at $1,759,000 after acquiring an additional 76 shares in the last quarter. RiverFront Investment Group LLC lifted its position in shares of Chevron by 12.6% during the 2nd quarter. RiverFront Investment Group LLC now owns 69,449 shares of the oil and gas company’s stock valued at $10,863,000 after acquiring an additional 7,759 shares during the period. Farmers National Bank boosted its position in shares of Chevron by 0.5% during the 2nd quarter. Farmers National Bank now owns 46,044 shares of the oil and gas company’s stock worth $7,202,000 after purchasing an additional 208 shares in the last quarter. Finally, Strategic Investment Solutions Inc. IL acquired a new stake in shares of Chevron in the 2nd quarter valued at about $491,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Scotiabank cut their price target on Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Piper Sandler cut their target price on Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Raymond James boosted their price target on shares of Chevron from $175.00 to $180.00 and gave the company an “outperform” rating in a research note on Friday, January 17th. Wells Fargo & Company raised their price objective on shares of Chevron from $171.00 to $188.00 and gave the company an “overweight” rating in a research note on Monday, December 9th. Finally, Citigroup raised shares of Chevron from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $145.00 to $185.00 in a research report on Tuesday, November 26th. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, Chevron currently has an average rating of “Moderate Buy” and a consensus target price of $175.27.

Insider Activity at Chevron

In related news, CEO Michael K. Wirth sold 164,600 shares of the firm’s stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $160.13, for a total value of $26,357,398.00. Following the completion of the transaction, the chief executive officer now directly owns 4,280 shares of the company’s stock, valued at approximately $685,356.40. This trade represents a 97.47 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.20% of the stock is currently owned by company insiders.

Chevron Stock Performance

NYSE CVX opened at $155.79 on Thursday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. The company has a market capitalization of $279.97 billion, a PE ratio of 17.12, a price-to-earnings-growth ratio of 1.37 and a beta of 1.12. Chevron Co. has a 52-week low of $135.37 and a 52-week high of $167.11. The company has a 50-day simple moving average of $153.67 and a 200 day simple moving average of $151.13.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 EPS for the quarter, topping analysts’ consensus estimates of $2.47 by $0.04. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The company had revenue of $50.67 billion for the quarter, compared to analysts’ expectations of $48.86 billion. During the same quarter in the previous year, the firm posted $3.05 EPS. Chevron’s revenue was down 6.3% on a year-over-year basis. On average, research analysts predict that Chevron Co. will post 10.18 EPS for the current year.

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Monday, November 18th were issued a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 4.19%. The ex-dividend date of this dividend was Monday, November 18th. Chevron’s dividend payout ratio (DPR) is currently 71.65%.

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.