Chevron Co. (NYSE:CVX) Shares Bought by First International Bank & Trust

First International Bank & Trust raised its position in Chevron Co. (NYSE:CVX) by 10.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,096 shares of the oil and gas company’s stock after buying an additional 203 shares during the period. First International Bank & Trust’s holdings in Chevron were worth $309,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. ZRC Wealth Management LLC lifted its stake in Chevron by 19.6% in the 3rd quarter. ZRC Wealth Management LLC now owns 4,149 shares of the oil and gas company’s stock worth $611,000 after purchasing an additional 680 shares in the last quarter. Cullen Investment Group LTD. lifted its stake in Chevron by 2.2% in the 3rd quarter. Cullen Investment Group LTD. now owns 24,275 shares of the oil and gas company’s stock worth $3,575,000 after purchasing an additional 530 shares in the last quarter. Trivant Custom Portfolio Group LLC lifted its stake in Chevron by 1.4% in the 3rd quarter. Trivant Custom Portfolio Group LLC now owns 16,408 shares of the oil and gas company’s stock worth $2,416,000 after purchasing an additional 220 shares in the last quarter. Central Valley Advisors LLC lifted its stake in Chevron by 2.8% in the 3rd quarter. Central Valley Advisors LLC now owns 6,910 shares of the oil and gas company’s stock worth $1,018,000 after purchasing an additional 190 shares in the last quarter. Finally, Mirador Capital Partners LP lifted its stake in Chevron by 1.4% in the 3rd quarter. Mirador Capital Partners LP now owns 105,138 shares of the oil and gas company’s stock worth $15,484,000 after purchasing an additional 1,409 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Wolfe Research assumed coverage on shares of Chevron in a research note on Thursday, July 18th. They issued a “peer perform” rating on the stock. Mizuho reduced their price target on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a research report on Monday, September 16th. Scotiabank reduced their price target on shares of Chevron from $195.00 to $180.00 and set a “sector outperform” rating on the stock in a research report on Friday, July 12th. Barclays cut their target price on Chevron from $185.00 to $168.00 and set an “overweight” rating on the stock in a research report on Thursday. Finally, UBS Group cut their target price on Chevron from $192.00 to $189.00 and set a “buy” rating on the stock in a research report on Wednesday, September 18th. Seven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, Chevron presently has a consensus rating of “Moderate Buy” and an average target price of $179.00.

Chevron Stock Performance

Shares of NYSE CVX traded down $0.51 during midday trading on Friday, reaching $150.74. 7,895,285 shares of the company were exchanged, compared to its average volume of 8,508,590. The company has a current ratio of 1.16, a quick ratio of 0.85 and a debt-to-equity ratio of 0.13. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $170.17. The stock has a fifty day simple moving average of $145.99 and a 200 day simple moving average of $154.12. The stock has a market cap of $275.69 billion, a P/E ratio of 13.87, a PEG ratio of 2.72 and a beta of 1.09.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $48.68 billion. During the same period in the prior year, the business earned $3.08 EPS. The business’s quarterly revenue was up 4.7% compared to the same quarter last year. On average, research analysts forecast that Chevron Co. will post 11.09 earnings per share for the current fiscal year.

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 4.33%. The ex-dividend date of this dividend was Monday, August 19th. Chevron’s dividend payout ratio is presently 59.98%.

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.