Chevron Co. (NYSE:CVX) Stake Decreased by Fulton Bank N.A.

Fulton Bank N.A. decreased its holdings in shares of Chevron Co. (NYSE:CVX - Free Report) by 4.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 50,418 shares of the oil and gas company's stock after selling 2,460 shares during the quarter. Fulton Bank N.A.'s holdings in Chevron were worth $8,434,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Life Planning Partners Inc acquired a new position in Chevron during the fourth quarter worth approximately $25,000. IMG Wealth Management Inc. purchased a new position in shares of Chevron during the fourth quarter worth approximately $25,000. Mizuho Securities Co. Ltd. acquired a new position in shares of Chevron in the 4th quarter valued at $29,000. 10Elms LLP purchased a new stake in Chevron in the 4th quarter valued at $29,000. Finally, Fairway Wealth LLC boosted its stake in Chevron by 75.9% during the 4th quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company's stock worth $30,000 after purchasing an additional 88 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 equities research analysts have recently commented on the stock. Hsbc Global Res cut shares of Chevron from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 13th. UBS Group reduced their price objective on Chevron from $194.00 to $185.00 and set a "buy" rating for the company in a research note on Monday, April 7th. Barclays cut Chevron from an "overweight" rating to an "equal weight" rating and decreased their price objective for the stock from $171.00 to $152.00 in a research report on Wednesday, April 23rd. Scotiabank downgraded Chevron from a "sector outperform" rating to a "sector perform" rating and lowered their target price for the company from $160.00 to $143.00 in a research note on Friday, April 11th. Finally, HSBC cut Chevron from a "buy" rating to a "hold" rating and cut their price target for the stock from $176.00 to $158.00 in a research note on Tuesday, May 13th. 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 company. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $160.24.

Chevron Stock Down 0.4%

Chevron stock traded down $0.55 during midday trading on Thursday, hitting $136.82. The stock had a trading volume of 6,317,616 shares, compared to its average volume of 8,112,339. The business has a fifty day moving average price of $140.16 and a 200 day moving average price of $150.11. Chevron Co. has a 12 month low of $132.04 and a 12 month high of $168.96. The stock has a market cap of $238.95 billion, a P/E ratio of 14.08, a P/E/G ratio of 1.46 and a beta of 0.83. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX - Get Free Report) last posted its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.15 by $0.03. Chevron had a return on equity of 11.44% and a net margin of 8.71%. 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 prior year, the company posted $2.93 EPS. The business's revenue was down 2.3% compared to the same quarter last year. Research analysts predict that Chevron Co. will post 10.79 EPS for the current year.

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Monday, May 19th will be paid a dividend of $1.71 per share. The ex-dividend date is Monday, May 19th. This represents a $6.84 annualized dividend and a yield of 5.00%. Chevron's dividend payout ratio (DPR) is 78.17%.

About Chevron

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.