First United Bank & Trust Sells 2,607 Shares of Chevron Co. (NYSE:CVX)

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

Other institutional investors and hedge funds have also modified their holdings of the company. Life Planning Partners Inc bought a new stake in Chevron in the fourth quarter valued at approximately $25,000. IMG Wealth Management Inc. bought a new stake in Chevron in the fourth quarter valued at approximately $25,000. Mizuho Securities Co. Ltd. bought a new stake in Chevron in the fourth quarter valued at approximately $29,000. 10Elms LLP bought a new stake in Chevron in the fourth quarter valued at approximately $29,000. Finally, Fairway Wealth LLC increased its stake in Chevron by 75.9% in the fourth quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company's stock valued at $30,000 after purchasing an additional 88 shares in the last quarter. 72.42% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on CVX. UBS Group lowered their price objective on shares of Chevron from $194.00 to $185.00 and set a "buy" rating for the company in a research report on Monday, April 7th. Barclays downgraded shares of Chevron from an "overweight" rating to an "equal weight" rating and lowered their price objective for the stock from $171.00 to $152.00 in a research report on Wednesday, April 23rd. BNP Paribas downgraded shares of Chevron to a "cautious" rating in a research report on Tuesday, April 15th. Mizuho lowered their price objective on shares of Chevron from $188.00 to $186.00 and set an "outperform" rating for the company in a research report on Tuesday, May 13th. Finally, TD Cowen lowered their price objective on shares of Chevron from $155.00 to $150.00 and set a "hold" rating for the company in a research report on Monday, May 5th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $160.24.

Chevron Stock Performance

NYSE:CVX traded up $0.12 during mid-day trading on Thursday, reaching $144.90. 6,989,778 shares of the company's stock were exchanged, compared to its average volume of 8,142,651. Chevron Co. has a one year low of $132.04 and a one year high of $168.96. The firm has a market capitalization of $253.05 billion, a PE ratio of 14.91, a price-to-earnings-growth ratio of 1.46 and a beta of 0.83. The business's fifty day simple moving average is $138.24 and its two-hundred day simple moving average is $149.42. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07.

Chevron (NYSE:CVX - Get Free Report) last released its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $2.18 EPS for the quarter, topping analysts' consensus estimates 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 last year, the firm earned $2.93 earnings per share. Chevron's revenue for the quarter was down 2.3% compared to the same quarter last year. Analysts anticipate that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Monday, May 19th were given a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 4.72%. The ex-dividend date of this dividend was Monday, May 19th. Chevron's dividend payout ratio is 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.