First Bank & Trust Sells 2,406 Shares of Chevron Co. (NYSE:CVX)

First Bank & Trust cut its holdings in Chevron Co. (NYSE:CVX) by 14.2% during the 3rd quarter, Holdings Channel reports. The firm owned 14,556 shares of the oil and gas company’s stock after selling 2,406 shares during the period. First Bank & Trust’s holdings in Chevron were worth $2,144,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Anfield Capital Management LLC grew its holdings in shares of Chevron by 118.0% during the 2nd quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock worth $34,000 after acquiring an additional 118 shares during the period. Cyrus J. Lawrence LLC lifted its stake in shares of Chevron by 66.7% in the 2nd quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock valued at $39,000 after purchasing an additional 100 shares during the period. Livelsberger Financial Advisory bought a new stake in shares of Chevron during the third quarter valued at approximately $47,000. Krane Funds Advisors LLC purchased a new stake in Chevron in the third quarter worth $47,000. Finally, Dixon Mitchell Investment Counsel Inc. bought a new position in Chevron in the first quarter worth $55,000. Institutional investors own 72.42% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on CVX. Royal Bank of Canada restated an “outperform” rating and set a $170.00 target price on shares of Chevron in a report on Tuesday, October 8th. Scotiabank reduced their price target on Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. 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 research note on Monday, September 30th. Wells Fargo & Company reduced their target price on Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a report on Friday, September 27th. Finally, Barclays lowered their price target on Chevron from $185.00 to $168.00 and set an “overweight” rating on the stock in a report on Thursday, October 3rd. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $173.07.

Chevron Price Performance

CVX opened at $150.81 on Friday. 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 company has a market capitalization of $277.94 billion, a price-to-earnings ratio of 13.87, a PEG ratio of 3.30 and a beta of 1.09. The business’s fifty day simple moving average is $146.59 and its 200-day simple moving average is $153.30. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $167.11.

Chevron (NYSE:CVX) last posted its earnings results 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 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 analysts’ expectations of $48.68 billion. During the same quarter last year, the firm earned $3.08 EPS. Chevron’s revenue for the quarter was up 4.7% on a year-over-year basis. On average, equities research analysts anticipate that Chevron Co. will post 10.86 earnings per share for the current fiscal year.

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were paid a $1.63 dividend. The ex-dividend date was Monday, August 19th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.32%. Chevron’s payout ratio is currently 59.98%.

Chevron Company 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.