First American Bank Trims Stock Holdings in Chevron Co. (NYSE:CVX)

First American Bank lowered its stake in shares of Chevron Co. (NYSE:CVX) by 2.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 81,759 shares of the oil and gas company’s stock after selling 2,155 shares during the period. First American Bank’s holdings in Chevron were worth $12,041,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in CVX. Anfield Capital Management LLC grew its holdings in Chevron by 118.0% during the 2nd quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock valued at $34,000 after buying an additional 118 shares in the last quarter. Cyrus J. Lawrence LLC boosted its position in shares of Chevron by 66.7% in the second quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock valued at $39,000 after acquiring an additional 100 shares during the period. Krane Funds Advisors LLC purchased a new position in Chevron during the third quarter valued at approximately $47,000. Livelsberger Financial Advisory bought a new stake in Chevron during the 3rd quarter worth approximately $47,000. Finally, Dixon Mitchell Investment Counsel Inc. purchased a new stake in Chevron in the 1st quarter worth approximately $55,000. 72.42% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

CVX has been the topic of a number of recent analyst reports. Barclays lowered their price objective on Chevron from $185.00 to $168.00 and set an “overweight” rating on the stock in a research report on Thursday, October 3rd. Sanford C. Bernstein cut Chevron from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $183.00 to $167.00 in a report on Wednesday, July 17th. Wells Fargo & Company cut their price objective on Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a report on Friday, September 27th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $170.00 target price on shares of Chevron in a research note on Tuesday, October 8th. Finally, Mizuho cut their price target on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a research note on Monday, September 16th. Five research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $173.07.

Chevron Stock Up 0.2 %

Shares of NYSE:CVX opened at $150.81 on Monday. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $167.11. The company has a current ratio of 1.16, a quick ratio of 0.85 and a debt-to-equity ratio of 0.13. The stock’s 50-day moving average price is $146.59 and its 200-day moving average price is $153.23. The stock has a market capitalization of $275.82 billion, a P/E ratio of 14.93, a price-to-earnings-growth ratio of 3.29 and a beta of 1.09.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share for the quarter, missing the consensus estimate of $2.93 by ($0.38). Chevron had a net margin of 9.31% and a return on equity of 13.70%. The company had revenue of $51.18 billion during the quarter, compared to the consensus estimate of $48.68 billion. During the same quarter in the previous year, the firm posted $3.08 EPS. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. On average, equities analysts anticipate that Chevron Co. will post 10.86 earnings per share for the current year.

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 4.32%. The ex-dividend date was Monday, August 19th. Chevron’s dividend payout ratio (DPR) is presently 64.55%.

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.