First American Bank Raises Stock Position in Chevron Corporation (NYSE:CVX)

First American Bank lifted its stake in shares of Chevron Corporation (NYSE:CVX - Free Report) by 5.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 85,779 shares of the oil and gas company's stock after buying an additional 4,072 shares during the quarter. Chevron comprises about 1.1% of First American Bank's holdings, making the stock its 27th biggest holding. First American Bank's holdings in Chevron were worth $14,350,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of the stock. Woodmont Investment Counsel LLC lifted its position in shares of Chevron by 2.3% during the 1st quarter. Woodmont Investment Counsel LLC now owns 118,233 shares of the oil and gas company's stock worth $19,779,000 after buying an additional 2,670 shares during the last quarter. Sawyer & Company Inc lifted its position in shares of Chevron by 1.1% during the 1st quarter. Sawyer & Company Inc now owns 12,837 shares of the oil and gas company's stock worth $2,148,000 after buying an additional 139 shares during the last quarter. Hubbell Strickland Wealth Management LLC lifted its position in shares of Chevron by 0.9% during the 1st quarter. Hubbell Strickland Wealth Management LLC now owns 10,013 shares of the oil and gas company's stock worth $1,675,000 after buying an additional 89 shares during the last quarter. Weaver Capital Management LLC lifted its position in shares of Chevron by 349.4% during the 1st quarter. Weaver Capital Management LLC now owns 6,242 shares of the oil and gas company's stock worth $1,044,000 after buying an additional 4,853 shares during the last quarter. Finally, CCG Wealth Management LLC increased its holdings in shares of Chevron by 2.3% in the 1st quarter. CCG Wealth Management LLC now owns 6,334 shares of the oil and gas company's stock valued at $1,060,000 after acquiring an additional 145 shares during the period. Hedge funds and other institutional investors own 72.42% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on CVX. Barclays cut shares of Chevron from an "overweight" rating to an "equal weight" rating and cut their target price for the company from $171.00 to $152.00 in a report on Wednesday, April 23rd. BNP Paribas cut shares of Chevron to a "cautious" rating in a report on Tuesday, April 15th. Hsbc Global Res cut shares of Chevron from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 13th. DZ Bank cut shares of Chevron from a "buy" rating to a "sell" rating and set a $130.00 target price on the stock. in a report on Tuesday, May 6th. Finally, UBS Group cut their target price on shares of Chevron from $194.00 to $185.00 and set a "buy" rating on the stock in a report on Monday, April 7th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, Chevron currently has an average rating of "Hold" and an average target price of $160.24.

Chevron Stock Up 0.8%

Shares of Chevron stock opened at $149.36 on Friday. The company has a market cap of $260.84 billion, a P/E ratio of 17.07, a PEG ratio of 2.63 and a beta of 0.83. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.82 and a current ratio of 1.08. Chevron Corporation has a one year low of $132.04 and a one year high of $168.96. The firm has a fifty day moving average of $139.37 and a two-hundred day moving average of $148.65.

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

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Monday, May 19th were issued a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 4.58%. The ex-dividend date was Monday, May 19th. Chevron's dividend payout ratio is currently 78.17%.

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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