First National Trust Co Sells 299 Shares of Chevron Co. (NYSE:CVX)

Posted by on Jul 16th, 2023

First National Trust Co decreased its position in Chevron Co. (NYSE:CVX – Free Report) by 0.2% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 183,980 shares of the oil and gas company’s stock after selling 299 shares during the quarter. Chevron accounts for approximately 1.6% of First National Trust Co’s holdings, making the stock its 11th biggest holding. First National Trust Co’s holdings in Chevron were worth $30,018,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in CVX. Rebalance LLC bought a new stake in shares of Chevron in the 4th quarter worth about $26,000. Worth Asset Management LLC bought a new stake in shares of Chevron in the 1st quarter worth about $36,000. Red Tortoise LLC bought a new stake in shares of Chevron in the 4th quarter worth about $37,000. Western Pacific Wealth Management LP bought a new stake in shares of Chevron in the 4th quarter worth about $37,000. Finally, JDM Financial Group LLC bought a new stake in Chevron during the 4th quarter worth about $42,000. Institutional investors own 69.65% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. StockNews.com initiated coverage on shares of Chevron in a report on Thursday, May 18th. They set a “hold” rating on the stock. Piper Sandler cut their price target on shares of Chevron from $196.00 to $188.00 in a research report on Tuesday, June 13th. Royal Bank of Canada upgraded shares of Chevron from a “sector perform” rating to an “outperform” rating and increased their price target for the company from $165.00 to $180.00 in a research report on Thursday, June 1st. BNP Paribas upgraded shares of Chevron from an “underperform” rating to a “neutral” rating and set a $200.00 price target on the stock in a research report on Tuesday, April 4th. Finally, UBS Group began coverage on shares of Chevron in a research report on Wednesday, April 19th. They issued a “buy” rating and a $212.00 price target on the stock. Eight equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $191.63.

Chevron Price Performance

NYSE:CVX opened at $153.58 on Friday. Chevron Co. has a 1-year low of $136.43 and a 1-year high of $189.68. The company has a current ratio of 1.43, a quick ratio of 1.16 and a debt-to-equity ratio of 0.13. The firm has a fifty day simple moving average of $155.83 and a 200 day simple moving average of $163.85. The stock has a market capitalization of $290.98 billion, a PE ratio of 8.29, a P/E/G ratio of 0.80 and a beta of 1.16.

Chevron (NYSE:CVX – Get Free Report) last released its earnings results on Friday, April 28th. The oil and gas company reported $3.55 earnings per share for the quarter, beating the consensus estimate of $3.41 by $0.14. Chevron had a net margin of 14.74% and a return on equity of 23.15%. The business had revenue of $50.79 billion during the quarter, compared to analysts’ expectations of $49.49 billion. During the same period last year, the business earned $3.36 earnings per share. The firm’s revenue was down 6.6% on a year-over-year basis. On average, research analysts expect that Chevron Co. will post 13.75 EPS for the current fiscal year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 12th. Investors of record on Friday, May 19th were paid a $1.51 dividend. The ex-dividend date of this dividend was Thursday, May 18th. This represents a $6.04 annualized dividend and a dividend yield of 3.93%. Chevron’s dividend payout ratio is presently 32.61%.

About Chevron

(Free Report)

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; liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and processing, transportation, storage, and marketing of natural gas, as well as a gas-to-liquids plant.

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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