First Citizens Bank & Trust Co. Sells 324 Shares of Chevron Co. (NYSE:CVX)

First Citizens Bank & Trust Co. trimmed its stake in Chevron Co. (NYSE:CVX) by 0.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 93,138 shares of the oil and gas company’s stock after selling 324 shares during the period. First Citizens Bank & Trust Co.’s holdings in Chevron were worth $15,581,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently modified their holdings of the company. IMG Wealth Management Inc. purchased a new position in shares of Chevron during the fourth quarter valued at $25,000. Mizuho Securities Co. Ltd. bought a new position in Chevron during the 4th quarter worth about $29,000. 10Elms LLP purchased a new position in Chevron during the 4th quarter valued at about $29,000. Fairway Wealth LLC increased its position in Chevron by 75.9% during the 4th quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company’s stock valued at $30,000 after purchasing an additional 88 shares during the period. Finally, IFS Advisors LLC raised its holdings in shares of Chevron by 119.6% in the 1st quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company’s stock valued at $36,000 after purchasing an additional 116 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on CVX. Hsbc Global Res downgraded shares of Chevron from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 13th. BNP Paribas lowered Chevron to a “cautious” rating in a report on Tuesday, April 15th. DZ Bank downgraded Chevron from a “buy” rating to a “sell” rating and set a $130.00 price target on the stock. in a report on Tuesday, May 6th. HSBC lowered Chevron from a “buy” rating to a “hold” rating and reduced their price target for the stock from $176.00 to $158.00 in a research report on Tuesday, May 13th. Finally, Redburn Atlantic reaffirmed a “sell” rating and set a $124.00 price objective (down previously from $156.00) on shares of Chevron in a research report on Wednesday, April 23rd. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Chevron has a consensus rating of “Hold” and a consensus price target of $160.24.

Chevron Price Performance

Shares of NYSE CVX opened at $140.21 on Monday. Chevron Co. has a fifty-two week low of $132.04 and a fifty-two week high of $168.96. The company has a market cap of $244.86 billion, a PE ratio of 14.42, a P/E/G ratio of 1.46 and a beta of 0.83. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. The business has a 50-day simple moving average of $138.98 and a two-hundred day simple moving average of $149.65.

Chevron (NYSE:CVX) last released its earnings results on Friday, May 2nd. The oil and gas company reported $2.18 EPS for the quarter, topping analysts’ consensus estimates of $2.15 by $0.03. The company had revenue of $47.61 billion during the quarter, compared to analysts’ expectations of $49.05 billion. Chevron had a net margin of 8.71% and a return on equity of 11.44%. Chevron’s revenue for the quarter was down 2.3% on a year-over-year basis. During the same period last year, the business earned $2.93 EPS. As a group, equities analysts expect that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th will be paid a dividend of $1.71 per share. The ex-dividend date of this dividend is Monday, May 19th. This represents a $6.84 annualized dividend and a dividend yield of 4.88%. Chevron’s payout ratio is currently 78.17%.

Chevron 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.