Home Federal Bank of Tennessee Has $2.17 Million Stake in Chevron Co. (NYSE:CVX)

Home Federal Bank of Tennessee decreased its holdings in Chevron Co. (NYSE:CVX) by 0.8% in the 1st quarter, Holdings Channel.com reports. The firm owned 12,995 shares of the oil and gas company’s stock after selling 100 shares during the period. Chevron comprises 0.6% of Home Federal Bank of Tennessee’s holdings, making the stock its 24th biggest position. Home Federal Bank of Tennessee’s holdings in Chevron were worth $2,174,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Sage Capital Advisors llc raised its stake in Chevron by 2.2% in the 1st quarter. Sage Capital Advisors llc now owns 42,421 shares of the oil and gas company’s stock worth $7,097,000 after purchasing an additional 919 shares in the last quarter. Viking Fund Management LLC raised its stake in Chevron by 9.3% in the 1st quarter. Viking Fund Management LLC now owns 117,000 shares of the oil and gas company’s stock worth $19,573,000 after purchasing an additional 10,000 shares in the last quarter. Allianz SE bought a new position in Chevron in the 4th quarter valued at about $9,369,000. Nicholas Company Inc. increased its holdings in Chevron by 4.3% in the 4th quarter. Nicholas Company Inc. now owns 80,025 shares of the oil and gas company’s stock valued at $11,591,000 after buying an additional 3,280 shares during the period. Finally, Applied Finance Capital Management LLC increased its holdings in Chevron by 1.6% in the 4th quarter. Applied Finance Capital Management LLC now owns 179,815 shares of the oil and gas company’s stock valued at $26,044,000 after buying an additional 2,755 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Price Performance

Shares of NYSE CVX opened at $140.76 on Tuesday. The stock has a market cap of $245.82 billion, a price-to-earnings ratio of 14.48, a PEG 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. Chevron Co. has a fifty-two week low of $132.04 and a fifty-two week high of $168.96. The firm’s 50-day simple moving average is $138.46 and its 200 day simple moving average is $149.50.

Chevron (NYSE:CVX) last posted its earnings results on Friday, May 2nd. The oil and gas company reported $2.18 EPS for the quarter, topping the consensus estimate 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 quarter last year, the firm earned $2.93 EPS. The company’s quarterly revenue was down 2.3% compared to the same quarter last year. As a group, research analysts anticipate that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th will be given 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 4.86%. Chevron’s dividend payout ratio is currently 78.17%.

Wall Street Analyst Weigh In

Several equities analysts have commented on CVX shares. Barclays lowered shares of Chevron from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $171.00 to $152.00 in a report on Wednesday, April 23rd. Hsbc Global Res lowered shares of Chevron from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 13th. HSBC lowered shares of Chevron from a “buy” rating to a “hold” rating and decreased their price target for the company from $176.00 to $158.00 in a report on Tuesday, May 13th. UBS Group reduced their target price on shares of Chevron from $194.00 to $185.00 and set a “buy” rating on the stock in a report on Monday, April 7th. Finally, Piper Sandler reduced their target price on shares of Chevron from $173.00 to $162.00 and set an “overweight” rating on the stock in a report on Tuesday, May 13th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $160.24.

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.