First National Bank & Trust Co. of Newtown Has $4.43 Million Stock Position in Chevron Co. (NYSE:CVX)

First National Bank & Trust Co. of Newtown lowered its stake in Chevron Co. (NYSE:CVX) by 0.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 28,302 shares of the oil and gas company’s stock after selling 174 shares during the period. Chevron makes up 0.9% of First National Bank & Trust Co. of Newtown’s holdings, making the stock its 18th biggest holding. First National Bank & Trust Co. of Newtown’s holdings in Chevron were worth $4,427,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of CVX. Pacifica Partners Inc. increased its position in shares of Chevron by 1.8% in the first quarter. Pacifica Partners Inc. now owns 3,492 shares of the oil and gas company’s stock valued at $546,000 after acquiring an additional 63 shares during the period. Private Wealth Management Group LLC grew its stake in shares of Chevron by 15.7% in the first quarter. Private Wealth Management Group LLC now owns 464 shares of the oil and gas company’s stock worth $73,000 after purchasing an additional 63 shares during the last quarter. Montz Harcus Wealth Management LLC increased its holdings in Chevron by 2.2% during the 2nd quarter. Montz Harcus Wealth Management LLC now owns 2,943 shares of the oil and gas company’s stock valued at $460,000 after purchasing an additional 63 shares during the period. Hubbell Strickland Wealth Management LLC raised its position in Chevron by 0.7% during the 2nd quarter. Hubbell Strickland Wealth Management LLC now owns 9,493 shares of the oil and gas company’s stock valued at $1,485,000 after purchasing an additional 64 shares during the last quarter. Finally, Ellenbecker Investment Group lifted its holdings in Chevron by 1.5% in the 1st quarter. Ellenbecker Investment Group now owns 4,346 shares of the oil and gas company’s stock worth $686,000 after buying an additional 65 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Stock Up 0.3 %

NYSE:CVX traded up $0.48 during trading hours on Thursday, reaching $145.80. 4,026,466 shares of the company traded hands, compared to its average volume of 7,832,954. The company has a current ratio of 1.16, a quick ratio of 0.85 and a debt-to-equity ratio of 0.13. The business’s 50-day moving average price is $153.21 and its two-hundred day moving average price is $155.89. Chevron Co. has a 1 year low of $139.62 and a 1 year high of $171.70. The stock has a market capitalization of $266.66 billion, a P/E ratio of 13.42, a P/E/G ratio of 2.46 and a beta of 1.10.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.93 by ($0.38). Chevron had a return on equity of 13.70% and a net margin of 9.31%. The company had revenue of $51.18 billion during the quarter, compared to analysts’ expectations of $48.68 billion. During the same period in the prior year, the firm earned $3.08 EPS. Chevron’s revenue for the quarter was up 4.7% compared to the same quarter last year. Analysts predict that Chevron Co. will post 11.96 earnings per share for the current year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th will be paid a $1.63 dividend. The ex-dividend date is Monday, August 19th. This represents a $6.52 annualized dividend and a dividend yield of 4.47%. Chevron’s dividend payout ratio is presently 59.98%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on CVX shares. Barclays reduced their target price on Chevron from $203.00 to $185.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 6th. Truist Financial decreased their price objective on shares of Chevron from $156.00 to $154.00 and set a “hold” rating for the company in a report on Monday, August 5th. Sanford C. Bernstein lowered shares of Chevron from an “outperform” rating to a “market perform” rating and cut their target price for the company from $183.00 to $167.00 in a research note on Wednesday, July 17th. Mizuho boosted their price target on shares of Chevron from $200.00 to $205.00 and gave the company a “buy” rating in a research report on Monday, May 13th. Finally, Wells Fargo & Company raised their price objective on shares of Chevron from $198.00 to $206.00 and gave the stock an “overweight” rating in a report on Tuesday, April 30th. Seven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $183.82.

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.