First United Bank & Trust Has $2.20 Million Holdings in Chevron Co. (NYSE:CVX)

First United Bank & Trust lowered its holdings in shares of Chevron Co. (NYSE:CVX - Free Report) by 16.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,128 shares of the oil and gas company's stock after selling 2,607 shares during the quarter. First United Bank & Trust's holdings in Chevron were worth $2,196,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of CVX. Life Planning Partners Inc bought a new position in shares of Chevron during the 4th quarter valued at $25,000. IMG Wealth Management Inc. bought a new position in shares of Chevron during the 4th quarter valued at $25,000. Mizuho Securities Co. Ltd. bought a new position in shares of Chevron during the 4th quarter valued at $29,000. 10Elms LLP bought a new position in Chevron in the 4th quarter worth $29,000. Finally, Fairway Wealth LLC raised its holdings in Chevron by 75.9% in the 4th quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company's stock worth $30,000 after acquiring an additional 88 shares during the period. Institutional investors own 72.42% of the company's stock.

Chevron Stock Performance

NYSE CVX traded up $0.77 during midday trading on Friday, hitting $145.74. The company had a trading volume of 14,126,704 shares, compared to its average volume of 8,182,686. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. The firm has a fifty day simple moving average of $138.53 and a two-hundred day simple moving average of $149.11. Chevron Co. has a fifty-two week low of $132.04 and a fifty-two week high of $168.96. The stock has a market cap of $254.52 billion, a price-to-earnings ratio of 14.99, a P/E/G ratio of 1.46 and a beta of 0.83.

Chevron (NYSE:CVX - Get Free Report) last issued its earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share for the quarter, beating the consensus estimate of $2.15 by $0.03. Chevron had a net margin of 8.71% and a return on equity of 11.44%. The business had revenue of $47.61 billion for the quarter, compared to analyst estimates of $49.05 billion. During the same period in the previous year, the business earned $2.93 EPS. The firm's revenue was down 2.3% on a year-over-year basis. Equities analysts forecast that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th were given a dividend of $1.71 per share. The ex-dividend date of this dividend was Monday, May 19th. This represents a $6.84 annualized dividend and a dividend yield of 4.69%. Chevron's dividend payout ratio (DPR) is currently 78.17%.

Wall Street Analysts Forecast Growth

CVX has been the topic of several recent analyst reports. BNP Paribas downgraded shares of Chevron to a "cautious" rating in a report on Tuesday, April 15th. HSBC downgraded shares of Chevron from a "buy" rating to a "hold" rating and dropped their target price for the stock from $176.00 to $158.00 in a report on Tuesday, May 13th. Wells Fargo & Company dropped their target price on shares of Chevron from $173.00 to $164.00 and set an "overweight" rating on the stock in a report on Monday, May 5th. TD Cowen dropped their target price on shares of Chevron from $155.00 to $150.00 and set a "hold" rating on the stock in a report on Monday, May 5th. Finally, DZ Bank downgraded 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. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $160.24.

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.