Farmers National Bank Purchases 208 Shares of Chevron Co. (NYSE:CVX)

Farmers National Bank raised its position in Chevron Co. (NYSE:CVX) by 0.5% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 46,044 shares of the oil and gas company’s stock after acquiring an additional 208 shares during the period. Chevron makes up 2.2% of Farmers National Bank’s investment portfolio, making the stock its 9th largest holding. Farmers National Bank’s holdings in Chevron were worth $7,202,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in CVX. J. W. Coons Advisors LLC raised its position in Chevron by 1.4% in the fourth quarter. J. W. Coons Advisors LLC now owns 7,097 shares of the oil and gas company’s stock worth $1,059,000 after acquiring an additional 100 shares in the last quarter. Capital World Investors grew its position in Chevron by 43.5% during the fourth quarter. Capital World Investors now owns 15,513,887 shares of the oil and gas company’s stock worth $2,314,070,000 after buying an additional 4,700,289 shares during the period. Tower Research Capital LLC TRC lifted its position in shares of Chevron by 190.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 223,188 shares of the oil and gas company’s stock valued at $33,291,000 after acquiring an additional 146,423 shares during the period. Morningstar Investment Management LLC boosted its stake in shares of Chevron by 9.4% during the 4th quarter. Morningstar Investment Management LLC now owns 7,220 shares of the oil and gas company’s stock worth $1,077,000 after acquiring an additional 621 shares in the last quarter. Finally, Bedell Frazier Investment Counselling LLC grew its holdings in shares of Chevron by 2.5% in the 4th quarter. Bedell Frazier Investment Counselling LLC now owns 14,605 shares of the oil and gas company’s stock worth $2,178,000 after acquiring an additional 352 shares during the period. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Trading Up 1.7 %

CVX stock opened at $149.73 on Wednesday. The company has a market cap of $273.84 billion, a price-to-earnings ratio of 13.77, a PEG ratio of 2.64 and a beta of 1.09. The company has a quick ratio of 0.85, a current ratio of 1.16 and a debt-to-equity ratio of 0.13. The business has a fifty day simple moving average of $146.34 and a 200-day simple moving average of $154.21. Chevron Co. has a 52 week low of $135.37 and a 52 week high of $170.17.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.93 by ($0.38). Chevron had a return on equity of 13.70% and a net margin of 9.31%. The business had revenue of $51.18 billion during the quarter, compared to analyst estimates of $48.68 billion. During the same period in the previous year, the company earned $3.08 EPS. Chevron’s revenue was up 4.7% on a year-over-year basis. On average, equities research analysts expect that Chevron Co. will post 11.02 EPS for the current year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were paid a dividend of $1.63 per share. The ex-dividend date of this dividend was Monday, August 19th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.35%. Chevron’s dividend payout ratio is currently 59.98%.

Wall Street Analyst Weigh In

CVX has been the topic of a number of research analyst reports. Barclays decreased their target price on Chevron from $203.00 to $185.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 6th. Truist Financial lowered their price objective on shares of Chevron from $154.00 to $150.00 and set a “hold” rating on the stock in a research note on Monday. Mizuho reduced their price target on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a report on Monday, September 16th. Sanford C. Bernstein cut Chevron from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $183.00 to $167.00 in a report on Wednesday, July 17th. Finally, Wolfe Research began coverage on Chevron in a research note on Thursday, July 18th. They set a “peer perform” rating on the stock. Seven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $180.00.

Chevron 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.