First International Bank & Trust Boosts Stock Position in Chevron Co. (NYSE:CVX)

First International Bank & Trust lifted its position in shares of Chevron Co. (NYSE:CVX) by 10.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,096 shares of the oil and gas company’s stock after purchasing an additional 203 shares during the period. First International Bank & Trust’s holdings in Chevron were worth $309,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of CVX. American Capital Advisory LLC lifted its holdings in Chevron by 403.2% in the first quarter. American Capital Advisory LLC now owns 156 shares of the oil and gas company’s stock worth $25,000 after buying an additional 125 shares during the period. Anfield Capital Management LLC lifted its holdings 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 worth $34,000 after buying an additional 118 shares during the period. Cyrus J. Lawrence LLC lifted its holdings in Chevron by 66.7% in the second quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock worth $39,000 after buying an additional 100 shares during the period. Cooksen Wealth LLC purchased a new stake in Chevron in the fourth quarter worth about $40,000. Finally, Vima LLC purchased a new stake in Chevron in the fourth quarter worth about $44,000. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Chevron Stock Down 0.3 %

Shares of CVX traded down $0.51 during mid-day trading on Friday, hitting $150.74. The company’s stock had a trading volume of 7,895,285 shares, compared to its average volume of 8,508,590. Chevron Co. has a 52-week low of $135.37 and a 52-week high of $170.17. The company’s 50-day moving average is $145.99 and its 200-day moving average is $154.12. 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 firm has a market capitalization of $275.69 billion, a price-to-earnings ratio of 13.87, a PEG ratio of 2.72 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 firm had revenue of $51.18 billion during the quarter, compared to analysts’ expectations of $48.68 billion. Chevron had a return on equity of 13.70% and a net margin of 9.31%. The business’s revenue was up 4.7% on a year-over-year basis. During the same quarter last year, the business earned $3.08 EPS. On average, equities research analysts forecast that Chevron Co. will post 11.09 EPS for the current fiscal year.

Chevron Dividend Announcement

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

Analysts Set New Price Targets

CVX has been the subject of a number of analyst reports. Sanford C. Bernstein downgraded shares of Chevron from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $183.00 to $167.00 in a research note on Wednesday, July 17th. Barclays reduced their price target on shares of Chevron from $185.00 to $168.00 and set an “overweight” rating for the company in a research report on Thursday. UBS Group dropped their target price on shares of Chevron from $192.00 to $189.00 and set a “buy” rating on the stock in a report on Wednesday, September 18th. Wolfe Research began coverage on shares of Chevron in a report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Finally, Truist Financial dropped their target price on shares of Chevron from $154.00 to $150.00 and set a “hold” rating on the stock in a report on Monday, September 30th. Seven investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $179.00.

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.