Chevron Co. (CVX) Position Lifted by First National Trust Co

First National Trust Co increased its stake in shares of Chevron Co. (NYSE:CVX) by 7.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 121,351 shares of the oil and gas company’s stock after buying an additional 8,613 shares during the quarter. Chevron comprises approximately 1.7% of First National Trust Co’s holdings, making the stock its 9th largest position. First National Trust Co’s holdings in Chevron were worth $15,192,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Numeric Investors LLC grew its stake in Chevron by 158.4% during the 2nd quarter. Numeric Investors LLC now owns 52,200 shares of the oil and gas company’s stock worth $5,446,000 after buying an additional 32,000 shares during the last quarter. Toronto Dominion Bank grew its stake in Chevron by 24.7% during the 2nd quarter. Toronto Dominion Bank now owns 660,443 shares of the oil and gas company’s stock worth $68,894,000 after buying an additional 130,990 shares during the last quarter. Bogart Wealth LLC grew its stake in Chevron by 3.7% during the 4th quarter. Bogart Wealth LLC now owns 15,316 shares of the oil and gas company’s stock worth $1,917,000 after buying an additional 542 shares during the last quarter. Shell Asset Management Co. boosted its position in Chevron by 41.2% during the 3rd quarter. Shell Asset Management Co. now owns 506,198 shares of the oil and gas company’s stock worth $60,400,000 after acquiring an additional 147,738 shares during the period. Finally, Perpetual Ltd boosted its position in Chevron by 6.8% during the 2nd quarter. Perpetual Ltd now owns 22,012 shares of the oil and gas company’s stock worth $2,297,000 after acquiring an additional 1,400 shares during the period. Hedge funds and other institutional investors own 65.04% of the company’s stock.

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A number of research analysts have issued reports on the company. Credit Suisse Group reduced their price target on Chevron from $129.00 to $123.00 and set a “neutral” rating for the company in a research report on Wednesday, March 7th. DZ Bank upgraded Chevron from a “hold” rating to a “buy” rating in a research report on Wednesday, March 7th. Bank of America upgraded Chevron from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $113.61 to $138.00 in a research report on Wednesday, February 28th. They noted that the move was a valuation call. Vetr lowered Chevron from a “strong-buy” rating to a “buy” rating and set a $122.05 price target for the company. in a research report on Monday, February 26th. Finally, BNP Paribas upgraded Chevron from an “underperform” rating to a “neutral” rating in a research report on Friday, February 23rd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and nineteen have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $130.00.

Shares of Chevron Co. (NYSE:CVX) opened at $115.40 on Friday. The company has a quick ratio of 0.83, a current ratio of 1.03 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $220,787.05, a price-to-earnings ratio of 28.33, a PEG ratio of 2.27 and a beta of 1.19. Chevron Co. has a twelve month low of $102.55 and a twelve month high of $133.88.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, February 2nd. The oil and gas company reported $0.73 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.27 by ($0.54). The firm had revenue of $37.62 billion during the quarter, compared to analyst estimates of $38.43 billion. Chevron had a net margin of 6.49% and a return on equity of 5.22%. The company’s quarterly revenue was up 19.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.22 EPS. analysts forecast that Chevron Co. will post 6.37 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Monday, March 12th. Stockholders of record on Friday, February 16th were issued a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a dividend yield of 3.88%. This is an increase from Chevron’s previous quarterly dividend of $1.08. The ex-dividend date of this dividend was Thursday, February 15th. Chevron’s dividend payout ratio is currently 92.37%.

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About Chevron

Chevron Corporation (Chevron) manages its investments in subsidiaries and affiliates, and provides administrative, financial, management and technology support to the United States and international subsidiaries that engage in integrated energy and chemicals operations. The Company operates through two business segments: Upstream and Downstream.

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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