First Bancorp Inc ME Acquires 194 Shares of Chevron Co. (NYSE:CVX)

First Bancorp Inc ME increased its holdings in shares of Chevron Co. (NYSE:CVX) by 8.3% in the third quarter, Holdings Channel.com reports. The firm owned 2,527 shares of the oil and gas company’s stock after purchasing an additional 194 shares during the quarter. First Bancorp Inc ME’s holdings in Chevron were worth $372,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Legacy Financial Strategies LLC bought a new stake in Chevron in the 3rd quarter valued at $266,000. Schubert & Co raised its stake in shares of Chevron by 9.1% in the 3rd quarter. Schubert & Co now owns 2,700 shares of the oil and gas company’s stock valued at $398,000 after purchasing an additional 226 shares during the period. NovaPoint Capital LLC lifted its holdings in shares of Chevron by 6.8% in the third quarter. NovaPoint Capital LLC now owns 15,450 shares of the oil and gas company’s stock valued at $2,275,000 after purchasing an additional 985 shares in the last quarter. Capital Investment Advisors LLC boosted its position in shares of Chevron by 3.0% during the third quarter. Capital Investment Advisors LLC now owns 298,247 shares of the oil and gas company’s stock worth $43,923,000 after buying an additional 8,793 shares during the period. Finally, Blue Trust Inc. grew its holdings in shares of Chevron by 27.3% during the third quarter. Blue Trust Inc. now owns 41,714 shares of the oil and gas company’s stock worth $6,525,000 after buying an additional 8,956 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Chevron Stock Performance

CVX traded down $0.45 during trading hours on Friday, reaching $150.75. The company’s stock had a trading volume of 5,208,202 shares, compared to its average volume of 7,706,832. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.85 and a current ratio of 1.16. The company’s 50-day moving average is $146.07 and its 200-day moving average is $153.71. Chevron Co. has a 52 week low of $135.37 and a 52 week high of $170.17. The firm has a market cap of $277.83 billion, a PE ratio of 13.87, a price-to-earnings-growth ratio of 2.74 and a beta of 1.09.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share for the quarter, missing the consensus estimate of $2.93 by ($0.38). The company had revenue of $51.18 billion during the quarter, compared to the consensus estimate of $48.68 billion. Chevron had a net margin of 9.31% and a return on equity of 13.70%. Chevron’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period in the previous year, the company earned $3.08 earnings per share. On average, equities analysts forecast that Chevron Co. will post 11.06 EPS for the current year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were issued a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.33%. The ex-dividend date was Monday, August 19th. Chevron’s dividend payout ratio is presently 59.98%.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Wolfe Research started coverage on Chevron in a research report on Thursday, July 18th. They set a “peer perform” rating for the company. Barclays decreased their target price on shares of Chevron from $185.00 to $168.00 and set an “overweight” rating for the company in a research report on Thursday, October 3rd. Bank of America started coverage on shares of Chevron in a research report on Thursday. They set a “buy” rating and a $168.00 price target on the stock. Wells Fargo & Company decreased their price objective on Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a report on Friday, September 27th. Finally, Scotiabank dropped their target price on Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $173.07.

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.