First National Trust Co Lowers Holdings in Chevron Co. (NYSE:CVX)

First National Trust Co decreased its position in shares of Chevron Co. (NYSE:CVX) by 1.4% during the third quarter, Holdings Channel.com reports. The institutional investor owned 139,729 shares of the oil and gas company’s stock after selling 1,913 shares during the quarter. First National Trust Co’s holdings in Chevron were worth $20,578,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. China Universal Asset Management Co. Ltd. bought a new position in shares of Chevron in the 1st quarter worth $566,000. Empowered Funds LLC raised its holdings in Chevron by 5.4% in the first quarter. Empowered Funds LLC now owns 429,000 shares of the oil and gas company’s stock worth $67,670,000 after purchasing an additional 22,047 shares in the last quarter. Russell Investments Group Ltd. lifted its position in shares of Chevron by 5.7% during the first quarter. Russell Investments Group Ltd. now owns 1,024,731 shares of the oil and gas company’s stock valued at $161,622,000 after buying an additional 55,415 shares during the last quarter. Hohimer Wealth Management LLC lifted its position in shares of Chevron by 47.5% during the first quarter. Hohimer Wealth Management LLC now owns 4,724 shares of the oil and gas company’s stock valued at $745,000 after buying an additional 1,522 shares during the last quarter. Finally, Addison Capital Co boosted its holdings in shares of Chevron by 14.3% in the 1st quarter. Addison Capital Co now owns 7,263 shares of the oil and gas company’s stock valued at $1,146,000 after buying an additional 910 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Stock Performance

CVX opened at $156.55 on Tuesday. The firm has a 50 day moving average of $147.80 and a two-hundred day moving average of $152.74. The firm has a market capitalization of $286.31 billion, a PE ratio of 17.20, a P/E/G ratio of 3.51 and a beta of 1.09. The company has a current ratio of 1.16, a quick ratio of 0.85 and a debt-to-equity ratio of 0.13. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $167.11.

Chevron (NYSE:CVX) last issued its earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.47 by $0.04. Chevron had a net margin of 8.44% and a return on equity of 13.07%. The firm had revenue of $50.67 billion during the quarter, compared to analysts’ expectations of $48.86 billion. During the same quarter last year, the company posted $3.05 earnings per share. The firm’s revenue was down 6.3% compared to the same quarter last year. On average, analysts anticipate that Chevron Co. will post 10.59 EPS for the current year.

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th will be paid a $1.63 dividend. The ex-dividend date is Monday, November 18th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.16%. Chevron’s payout ratio is 71.65%.

Wall Street Analyst Weigh In

Several research firms recently commented on CVX. Truist Financial boosted their price objective on shares of Chevron from $150.00 to $155.00 and gave the stock a “hold” rating in a research note on Monday, November 4th. Mizuho reduced their price target on Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a research report on Monday, September 16th. Royal Bank of Canada raised their price objective on Chevron from $170.00 to $175.00 and gave the stock an “outperform” rating in a research report on Monday, November 4th. Bank of America assumed coverage on Chevron in a research report on Thursday, October 17th. They set a “buy” rating and a $168.00 target price on the stock. Finally, Wells Fargo & Company lowered their price target on Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a report on Friday, September 27th. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, Chevron has a consensus rating of “Moderate Buy” and an average price target of $174.93.

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.