AMG National Trust Bank Purchases 8,795 Shares of Chevron Co. (NYSE:CVX)

AMG National Trust Bank lifted its position in shares of Chevron Co. (NYSE:CVX) by 21.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 49,091 shares of the oil and gas company’s stock after purchasing an additional 8,795 shares during the period. AMG National Trust Bank’s holdings in Chevron were worth $7,679,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in CVX. American Capital Advisory LLC grew its holdings in shares of Chevron by 403.2% during the first quarter. American Capital Advisory LLC now owns 156 shares of the oil and gas company’s stock worth $25,000 after purchasing an additional 125 shares during the last quarter. Bare Financial Services Inc bought a new stake in Chevron in the fourth quarter valued at approximately $27,000. Frank Rimerman Advisors LLC bought a new stake in Chevron in the fourth quarter valued at approximately $30,000. Cooksen Wealth LLC bought a new stake in Chevron in the fourth quarter valued at approximately $40,000. Finally, Clear Investment Research LLC boosted its holdings in Chevron by 264.9% in the fourth quarter. Clear Investment Research LLC now owns 281 shares of the oil and gas company’s stock valued at $42,000 after acquiring an additional 204 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently commented on CVX shares. Scotiabank reduced their target price on Chevron from $195.00 to $180.00 and set a “sector outperform” rating on the stock in a report on Friday, July 12th. HSBC upped their target price on Chevron from $175.00 to $178.00 and gave the company a “buy” rating in a report on Tuesday, April 30th. Truist Financial reduced their target price on Chevron from $156.00 to $154.00 and set a “hold” rating on the stock in a report on Monday, August 5th. Wolfe Research started coverage on Chevron in a report on Thursday, July 18th. They set a “peer perform” rating on the stock. Finally, Royal Bank of Canada cut their price target on Chevron from $190.00 to $180.00 and set an “outperform” rating on the stock in a report on Monday, August 5th. Seven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $183.82.

Chevron Stock Up 1.3 %

Shares of NYSE:CVX traded up $1.89 during trading on Friday, reaching $147.62. 4,824,078 shares of the stock were exchanged, compared to its average volume of 7,814,477. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.16 and a quick ratio of 0.85. Chevron Co. has a 1-year low of $139.62 and a 1-year high of $171.70. The stock has a fifty day moving average of $152.97 and a two-hundred day moving average of $155.81. The firm has a market cap of $272.06 billion, a price-to-earnings ratio of 13.58, a price-to-earnings-growth ratio of 2.46 and a beta of 1.10.

Chevron (NYSE:CVX) last issued its earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). Chevron had a return on equity of 13.70% and a net margin of 9.31%. The firm had revenue of $51.18 billion for the quarter, compared to analyst estimates of $48.68 billion. During the same period in the previous year, the company earned $3.08 earnings per share. Chevron’s revenue for the quarter was up 4.7% compared to the same quarter last year. Research analysts anticipate that Chevron Co. will post 11.96 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, September 10th. Stockholders of record on Monday, August 19th will be given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.42%. The ex-dividend date is Monday, August 19th. Chevron’s payout ratio is 59.98%.

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.