VeraBank N.A. Trims Position in Chevron Corporation (NYSE:CVX)

VeraBank N.A. trimmed its holdings in Chevron Corporation (NYSE:CVX) by 0.8% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 21,412 shares of the oil and gas company’s stock after selling 164 shares during the period. Chevron accounts for approximately 1.0% of VeraBank N.A.’s portfolio, making the stock its 20th largest position. VeraBank N.A.’s holdings in Chevron were worth $3,582,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in CVX. Eagle Capital Management LLC raised its holdings in Chevron by 0.7% during the fourth quarter. Eagle Capital Management LLC now owns 34,600 shares of the oil and gas company’s stock worth $5,011,000 after purchasing an additional 242 shares in the last quarter. Bank Pictet & Cie Europe AG raised its holdings in Chevron by 7.9% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 35,985 shares of the oil and gas company’s stock worth $5,212,000 after purchasing an additional 2,641 shares in the last quarter. FMR LLC raised its holdings in Chevron by 7.9% during the fourth quarter. FMR LLC now owns 3,866,447 shares of the oil and gas company’s stock worth $560,016,000 after purchasing an additional 281,784 shares in the last quarter. FIL Ltd raised its holdings in Chevron by 538.6% during the fourth quarter. FIL Ltd now owns 378,736 shares of the oil and gas company’s stock worth $54,856,000 after purchasing an additional 319,425 shares in the last quarter. Finally, Faithward Advisors LLC raised its holdings in Chevron by 3.0% during the fourth quarter. Faithward Advisors LLC now owns 4,445 shares of the oil and gas company’s stock worth $644,000 after purchasing an additional 129 shares in the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Stock Down 0.1%

Shares of NYSE CVX opened at $152.82 on Thursday. Chevron Corporation has a 1 year low of $132.04 and a 1 year high of $168.96. The firm’s 50 day moving average price is $147.78 and its 200 day moving average price is $148.71. The firm has a market cap of $266.89 billion, a P/E ratio of 19.67, a price-to-earnings-growth ratio of 2.29 and a beta of 0.87. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.82 and a current ratio of 1.08.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, August 1st. The oil and gas company reported $1.77 earnings per share for the quarter, topping analysts’ consensus estimates of $1.58 by $0.19. The company had revenue of $44.82 billion for the quarter, compared to the consensus estimate of $44.59 billion. Chevron had a net margin of 7.02% and a return on equity of 9.80%. Chevron’s revenue was down 12.4% on a year-over-year basis. During the same quarter last year, the firm posted $2.55 earnings per share. As a group, sell-side analysts anticipate that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th will be paid a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date of this dividend is Tuesday, August 19th. Chevron’s dividend payout ratio (DPR) is currently 88.03%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Hsbc Global Res cut shares of Chevron from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 13th. Raymond James Financial reaffirmed an “outperform” rating on shares of Chevron in a report on Friday, August 1st. Mizuho dropped their target price on shares of Chevron from $188.00 to $186.00 and set an “outperform” rating for the company in a report on Tuesday, May 13th. BNP Paribas cut shares of Chevron to a “cautious” rating in a report on Tuesday, April 15th. Finally, Scotiabank reaffirmed a “sector perform” rating and issued a $160.00 target price (up from $143.00) on shares of Chevron in a report on Friday, July 11th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, Chevron has a consensus rating of “Hold” and a consensus target price of $164.11.

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.