First Bank & Trust lowered its position in shares of Chevron Co. (NYSE:CVX) by 3.8% in the second quarter, HoldingsChannel reports. The firm owned 19,610 shares of the oil and gas company’s stock after selling 783 shares during the quarter. Chevron comprises 1.9% of First Bank & Trust’s holdings, making the stock its 5th largest position. First Bank & Trust’s holdings in Chevron were worth $2,479,000 as of its most recent SEC filing.
Other hedge funds have also recently modified their holdings of the company. Live Your Vision LLC boosted its stake in Chevron by 308.0% in the second quarter. Live Your Vision LLC now owns 816 shares of the oil and gas company’s stock valued at $101,000 after acquiring an additional 616 shares in the last quarter. Advisors Preferred LLC acquired a new position in Chevron in the first quarter valued at $110,000. Litman Gregory Asset Management LLC boosted its stake in Chevron by 566.9% in the first quarter. Litman Gregory Asset Management LLC now owns 1,147 shares of the oil and gas company’s stock valued at $131,000 after acquiring an additional 975 shares in the last quarter. Point72 Asia Hong Kong Ltd boosted its stake in Chevron by 20,716.7% in the first quarter. Point72 Asia Hong Kong Ltd now owns 1,249 shares of the oil and gas company’s stock valued at $142,000 after acquiring an additional 1,243 shares in the last quarter. Finally, Farmers National Bank boosted its stake in Chevron by 3.0% in the fourth quarter. Farmers National Bank now owns 39,825 shares of the oil and gas company’s stock valued at $186,000 after acquiring an additional 1,174 shares in the last quarter. Hedge funds and other institutional investors own 64.82% of the company’s stock.
Several equities analysts have issued reports on CVX shares. Zacks Investment Research upgraded shares of Chevron from a “hold” rating to a “strong-buy” rating and set a $147.00 price objective for the company in a research note on Wednesday, June 13th. Raymond James upgraded shares of Chevron from a “market perform” rating to an “outperform” rating in a research note on Monday, June 18th. Royal Bank of Canada restated a “neutral” rating and issued a $145.00 price objective on shares of Chevron in a research note on Monday, July 2nd. Credit Suisse Group set a $132.00 price objective on shares of Chevron and gave the company a “hold” rating in a research note on Sunday, July 1st. Finally, Macquarie downgraded shares of Chevron from an “outperform” rating to a “neutral” rating and set a $125.00 price objective for the company. in a research note on Tuesday, July 3rd. Nine research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $136.83.
Shares of CVX opened at $124.84 on Tuesday. Chevron Co. has a fifty-two week low of $108.02 and a fifty-two week high of $133.88. The stock has a market cap of $234.31 billion, a PE ratio of 33.74, a price-to-earnings-growth ratio of 2.14 and a beta of 1.07. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.08 and a quick ratio of 0.87.
Chevron (NYSE:CVX) last announced its earnings results on Friday, July 27th. The oil and gas company reported $1.78 earnings per share for the quarter, missing the consensus estimate of $2.09 by ($0.31). Chevron had a return on equity of 6.89% and a net margin of 7.87%. The business had revenue of $42.24 billion for the quarter, compared to analyst estimates of $46.62 billion. During the same quarter last year, the company posted $0.77 EPS. Chevron’s quarterly revenue was up 22.5% on a year-over-year basis. On average, sell-side analysts anticipate that Chevron Co. will post 8.17 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, September 10th. Investors of record on Friday, August 17th were issued a dividend of $1.12 per share. The ex-dividend date of this dividend was Thursday, August 16th. This represents a $4.48 annualized dividend and a yield of 3.59%. Chevron’s dividend payout ratio is currently 121.08%.
Chevron Corporation, through its subsidiaries, engages in integrated energy, chemicals, and petroleum operations worldwide. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, and production of crude oil and natural gas; processing, liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and transportation, storage, and marketing of natural gas, as well as operates a gas-to-liquids plant.
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