Atlantic Union Bankshares Corp Decreases Stake in Chevron Corporation (NYSE:CVX)

Atlantic Union Bankshares Corp lessened its stake in Chevron Corporation (NYSE:CVX - Free Report) by 2.6% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 81,934 shares of the oil and gas company's stock after selling 2,168 shares during the quarter. Atlantic Union Bankshares Corp's holdings in Chevron were worth $13,707,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in CVX. Mizuho Securities Co. Ltd. bought a new position in Chevron in the 4th quarter worth approximately $29,000. 10Elms LLP acquired a new stake in Chevron during the fourth quarter valued at approximately $29,000. IFS Advisors LLC lifted its position in shares of Chevron by 119.6% during the 1st quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company's stock valued at $36,000 after acquiring an additional 116 shares during the last quarter. Navigoe LLC purchased a new position in Chevron in the 4th quarter worth about $33,000. Finally, Cloud Capital Management LLC purchased a new position in shares of Chevron in the first quarter worth approximately $39,000. 72.42% of the stock is owned by institutional investors and hedge funds.

Chevron Price Performance

Shares of NYSE CVX opened at $149.79 on Friday. The company has a fifty day moving average price of $144.04 and a 200 day moving average price of $148.67. Chevron Corporation has a 1-year low of $132.04 and a 1-year high of $168.96. The firm has a market cap of $261.59 billion, a PE ratio of 17.12, a PEG ratio of 2.45 and a beta of 0.83. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.17.

Chevron (NYSE:CVX - Get Free Report) last issued its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $2.18 EPS for the quarter, beating the consensus estimate of $2.15 by $0.03. Chevron had a return on equity of 10.73% and a net margin of 7.76%. The firm had revenue of $47.61 billion during the quarter, compared to analysts' expectations of $49.05 billion. During the same period in the prior year, the firm posted $2.93 earnings per share. The business's quarterly revenue was down 2.3% compared to the same quarter last year. Research analysts predict that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th were given a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 4.57%. The ex-dividend date was Monday, May 19th. Chevron's payout ratio is presently 78.17%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on CVX. Wells Fargo & Company reissued an "overweight" rating and issued a $165.00 price target (up from $164.00) on shares of Chevron in a research report on Thursday, June 26th. Redburn Atlantic reiterated a "sell" rating and issued a $124.00 price objective (down from $156.00) on shares of Chevron in a research note on Wednesday, April 23rd. Scotiabank reissued a "sector perform" rating and set a $160.00 price objective (up previously from $143.00) on shares of Chevron in a report on Friday, July 11th. TD Cowen lowered their price objective on Chevron from $155.00 to $150.00 and set a "hold" rating on the stock in a research note on Monday, May 5th. Finally, UBS Group decreased their price objective on shares of Chevron from $194.00 to $185.00 and set a "buy" rating on the stock in a research note on Monday, April 7th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $161.31.

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.

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