First Financial Bank Trust Division Reduces Stock Position in Chevron Co. (NYSE:CVX)

First Financial Bank Trust Division trimmed its position in Chevron Co. (NYSE:CVX) by 4.3% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 60,099 shares of the oil and gas company’s stock after selling 2,717 shares during the period. First Financial Bank Trust Division’s holdings in Chevron were worth $8,851,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Mattson Financial Services LLC purchased a new position in shares of Chevron during the second quarter valued at approximately $3,976,000. Centaurus Financial Inc. raised its holdings in Chevron by 209.1% in the 2nd quarter. Centaurus Financial Inc. now owns 32,190 shares of the oil and gas company’s stock valued at $5,035,000 after acquiring an additional 21,777 shares during the last quarter. Anchor Investment Management LLC raised its holdings in Chevron by 12.1% in the 2nd quarter. Anchor Investment Management LLC now owns 41,459 shares of the oil and gas company’s stock valued at $6,485,000 after acquiring an additional 4,478 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in shares of Chevron by 75.8% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 138,885 shares of the oil and gas company’s stock worth $21,724,000 after purchasing an additional 59,885 shares during the period. Finally, Verity & Verity LLC boosted its holdings in shares of Chevron by 1.3% during the second quarter. Verity & Verity LLC now owns 164,657 shares of the oil and gas company’s stock worth $25,756,000 after purchasing an additional 2,176 shares during the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Chevron Price Performance

Shares of NYSE CVX opened at $150.97 on Thursday. The company has a market capitalization of $276.11 billion, a price-to-earnings ratio of 13.89, a PEG ratio of 2.64 and a beta of 1.09. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.16 and a quick ratio of 0.85. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $170.17. The business has a 50-day moving average of $146.26 and a 200-day moving average of $154.19.

Chevron (NYSE:CVX) last issued its quarterly earnings data 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). The firm had revenue of $51.18 billion during the quarter, compared to analyst estimates of $48.68 billion. Chevron had a net margin of 9.31% and a return on equity of 13.70%. The firm’s revenue was up 4.7% compared to the same quarter last year. During the same period last year, the business earned $3.08 EPS. On average, equities analysts anticipate that Chevron Co. will post 11.02 EPS for the current fiscal year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.32%. The ex-dividend date was Monday, August 19th. Chevron’s payout ratio is 59.98%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Barclays reduced their target price on Chevron from $203.00 to $185.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 6th. Royal Bank of Canada cut their price objective on shares of Chevron from $190.00 to $180.00 and set an “outperform” rating on the stock in a report on Monday, August 5th. UBS Group lowered their target price on shares of Chevron from $192.00 to $189.00 and set a “buy” rating for the company in a report on Wednesday, September 18th. Scotiabank dropped their price target on shares of Chevron from $195.00 to $180.00 and set a “sector outperform” rating for the company in a research report on Friday, July 12th. Finally, Wells Fargo & Company decreased their price target on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating on the stock in a report on Friday, September 27th. Seven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $180.00.

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.