First Bancorp Inc ME Acquires 194 Shares of Chevron Co. (NYSE:CVX)

First Bancorp Inc ME increased its holdings in Chevron Co. (NYSE:CVX) by 8.3% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,527 shares of the oil and gas company’s stock after purchasing an additional 194 shares during the period. First Bancorp Inc ME’s holdings in Chevron were worth $372,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Anfield Capital Management LLC grew its position in Chevron by 118.0% in the second quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock valued at $34,000 after acquiring an additional 118 shares during the period. Cyrus J. Lawrence LLC increased its position in shares of Chevron by 66.7% during the 2nd quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock worth $39,000 after purchasing an additional 100 shares in the last quarter. Krane Funds Advisors LLC bought a new position in Chevron during the 3rd quarter valued at about $47,000. Dixon Mitchell Investment Counsel Inc. acquired a new position in Chevron in the first quarter valued at about $55,000. Finally, Richardson Capital Management LLC bought a new stake in Chevron during the first quarter worth about $58,000. 72.42% of the stock is owned by institutional investors and hedge funds.

Chevron Trading Down 0.3 %

Shares of NYSE:CVX traded down $0.45 during midday trading on Friday, hitting $150.75. The company had a trading volume of 5,208,202 shares, compared to its average volume of 7,706,832. 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 $170.17. The firm has a fifty day simple moving average of $146.07 and a 200 day simple moving average of $153.71. The stock has a market cap of $277.83 billion, a price-to-earnings ratio of 13.87, a PEG ratio of 2.74 and a beta of 1.09.

Chevron (NYSE:CVX) last issued its earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). The company had revenue of $51.18 billion for the quarter, compared to the consensus estimate of $48.68 billion. Chevron had a return on equity of 13.70% and a net margin of 9.31%. Chevron’s quarterly revenue was up 4.7% on a year-over-year basis. During the same quarter last year, the business posted $3.08 EPS. On average, analysts predict that Chevron Co. will post 11.06 EPS for the current year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were issued a $1.63 dividend. The ex-dividend date was Monday, August 19th. This represents a $6.52 annualized dividend and a yield of 4.33%. Chevron’s dividend payout ratio (DPR) is presently 59.98%.

Analyst Upgrades and Downgrades

CVX has been the subject of a number of research analyst reports. Sanford C. Bernstein cut shares of Chevron from an “outperform” rating to a “market perform” rating and cut their target price for the company from $183.00 to $167.00 in a research note on Wednesday, July 17th. Truist Financial reduced their price objective on Chevron from $154.00 to $150.00 and set a “hold” rating on the stock in a research note on Monday, September 30th. Scotiabank lowered their target price on Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. Royal Bank of Canada reiterated an “outperform” rating and set a $170.00 price target on shares of Chevron in a research report on Tuesday, October 8th. Finally, Bank of America assumed coverage on shares of Chevron in a research report on Thursday. They issued a “buy” rating and a $168.00 price objective for the company. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $173.07.

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.