First National Corp MA ADV Grows Stock Holdings in Chevron Co. (NYSE:CVX)

First National Corp MA ADV boosted its holdings in shares of Chevron Co. (NYSE:CVX) by 8.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,372 shares of the oil and gas company’s stock after purchasing an additional 267 shares during the quarter. First National Corp MA ADV’s holdings in Chevron were worth $564,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Life Planning Partners Inc purchased a new stake in Chevron during the fourth quarter valued at $25,000. IMG Wealth Management Inc. bought a new position in Chevron during the fourth quarter valued at $25,000. Mizuho Securities Co. Ltd. bought a new position in Chevron during the fourth quarter valued at $29,000. 10Elms LLP bought a new position in Chevron during the fourth quarter valued at $29,000. Finally, Fairway Wealth LLC increased its position in Chevron by 75.9% during the fourth quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company’s stock valued at $30,000 after acquiring an additional 88 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Trading Up 2.4%

NYSE CVX opened at $140.21 on Friday. The company’s 50-day moving average price is $138.98 and its 200-day moving average price is $149.81. 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 stock has a market cap of $244.86 billion, a PE ratio of 14.42, a PEG ratio of 1.46 and a beta of 0.83. Chevron Co. has a 12 month low of $132.04 and a 12 month high of $168.96.

Chevron (NYSE:CVX) last posted its quarterly 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. Chevron had a net margin of 8.71% and a return on equity of 11.44%. The firm had revenue of $47.61 billion for the quarter, compared to analysts’ expectations of $49.05 billion. During the same period in the prior year, the business posted $2.93 earnings per share. The business’s revenue for the quarter was down 2.3% on a year-over-year basis. Equities research analysts forecast that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Announces Dividend

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

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. HSBC cut shares of Chevron from a “buy” rating to a “hold” rating and cut their price objective for the company from $176.00 to $158.00 in a research report on Tuesday, May 13th. UBS Group cut their price objective on shares of Chevron from $194.00 to $185.00 and set a “buy” rating on the stock in a research report on Monday, April 7th. Piper Sandler cut their price objective on shares of Chevron from $173.00 to $162.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 13th. Redburn Atlantic reiterated 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. Finally, BNP Paribas cut shares of Chevron to a “cautious” rating in a research report on Tuesday, April 15th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, Chevron presently has a consensus rating of “Hold” and an average price target of $160.24.

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.