Farmers Trust Co. Boosts Holdings in Chevron Co. (NYSE:CVX)

Farmers Trust Co. increased its holdings in Chevron Co. (NYSE:CVX) by 2.2% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,676 shares of the oil and gas company’s stock after purchasing an additional 204 shares during the period. Farmers Trust Co.’s holdings in Chevron were worth $1,619,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Life Planning Partners Inc purchased a new position in Chevron in the 4th quarter worth approximately $25,000. IMG Wealth Management Inc. purchased a new position in Chevron in the 4th quarter worth approximately $25,000. Mizuho Securities Co. Ltd. purchased a new position in Chevron in the 4th quarter worth approximately $29,000. 10Elms LLP purchased a new position in Chevron in the 4th quarter worth approximately $29,000. Finally, Fairway Wealth LLC lifted its holdings in Chevron by 75.9% in the 4th quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company’s stock worth $30,000 after purchasing an additional 88 shares in the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CVX has been the topic of several recent research reports. DZ Bank cut Chevron from a “buy” rating to a “sell” rating and set a $130.00 price objective on the stock. in a report on Tuesday, May 6th. HSBC cut Chevron from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $176.00 to $158.00 in a report on Tuesday, May 13th. BNP Paribas cut Chevron to a “cautious” rating in a report on Tuesday, April 15th. Piper Sandler decreased their price objective on Chevron from $173.00 to $162.00 and set an “overweight” rating on the stock in a report on Tuesday, May 13th. Finally, Truist Financial decreased their price objective on Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a report on Tuesday, February 4th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, Chevron currently has an average rating of “Hold” and a consensus price target of $160.24.

Chevron Price Performance

CVX opened at $137.89 on Friday. Chevron Co. has a 12-month low of $132.04 and a 12-month high of $168.96. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. The business’s fifty day simple moving average is $142.47 and its 200-day simple moving average is $150.70. The company has a market capitalization of $240.81 billion, a price-to-earnings ratio of 14.19, a PEG ratio of 1.46 and a beta of 0.83.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.15 by $0.03. The business had revenue of $47.61 billion for the quarter, compared to the consensus estimate of $49.05 billion. Chevron had a return on equity of 11.44% and a net margin of 8.71%. The business’s revenue was down 2.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.93 EPS. On average, equities research analysts anticipate that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Monday, May 19th will be given a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 4.96%. The ex-dividend date is Monday, May 19th. Chevron’s payout ratio is currently 78.17%.

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.