AMG National Trust Bank Has $10.14 Million Position in Chevron Corporation (NYSE:CVX)

AMG National Trust Bank grew its stake in Chevron Corporation (NYSE:CVX) by 0.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 60,635 shares of the oil and gas company’s stock after purchasing an additional 263 shares during the period. AMG National Trust Bank’s holdings in Chevron were worth $10,144,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Mizuho Securities Co. Ltd. bought a new position in Chevron in the 4th quarter valued at approximately $29,000. 10Elms LLP bought a new position in Chevron in the 4th quarter valued at approximately $29,000. IFS Advisors LLC raised its holdings in 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 buying an additional 116 shares during the last quarter. Navigoe LLC bought a new position in Chevron in the 4th quarter valued at approximately $33,000. Finally, Cloud Capital Management LLC bought a new position in Chevron in the 1st quarter valued at approximately $39,000. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have issued reports on CVX shares. HSBC lowered shares of Chevron from a “buy” rating to a “hold” rating and lowered their price target for the stock from $176.00 to $158.00 in a report on Tuesday, May 13th. BNP Paribas lowered shares of Chevron to a “cautious” rating in a report on Tuesday, April 15th. Hsbc Global Res lowered shares of Chevron from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 13th. TD Cowen lowered their price target on shares of Chevron from $155.00 to $150.00 and set a “hold” rating for the company in a report on Monday, May 5th. Finally, Redburn Atlantic reiterated a “sell” rating and issued a $124.00 price objective (down previously from $156.00) on shares of Chevron in a research note on Wednesday, April 23rd. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $161.31.

Chevron Price Performance

Shares of NYSE:CVX opened at $149.79 on Friday. The company’s 50-day moving average is $144.04 and its 200 day moving average is $148.64. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.82 and a current ratio of 1.08. The company has a market capitalization of $261.59 billion, a P/E ratio of 17.12, a price-to-earnings-growth ratio of 2.48 and a beta of 0.83. Chevron Corporation has a fifty-two week low of $132.04 and a fifty-two week high of $168.96.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share for the quarter, topping analysts’ consensus estimates of $2.15 by $0.03. Chevron had a net margin of 7.76% and a return on equity of 10.73%. The company had revenue of $47.61 billion for the quarter, compared to the consensus estimate of $49.05 billion. During the same period in the previous year, the firm earned $2.93 EPS. The firm’s quarterly revenue was down 2.3% on a year-over-year basis. On average, equities research analysts forecast that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Monday, May 19th were paid a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 4.57%. The ex-dividend date of this dividend was Monday, May 19th. Chevron’s dividend payout ratio is currently 78.17%.

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.