First National Bank of Mount Dora Trust Investment Services Decreases Stock Holdings in Chevron Co. (NYSE:CVX)

First National Bank of Mount Dora Trust Investment Services trimmed its holdings in shares of Chevron Co. (NYSE:CVX) by 11.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,747 shares of the oil and gas company’s stock after selling 740 shares during the quarter. First National Bank of Mount Dora Trust Investment Services’ holdings in Chevron were worth $961,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Sage Capital Advisors llc boosted its holdings in shares of Chevron by 2.2% in the first quarter. Sage Capital Advisors llc now owns 42,421 shares of the oil and gas company’s stock worth $7,097,000 after acquiring an additional 919 shares during the period. Viking Fund Management LLC raised its position in Chevron by 9.3% during the first quarter. Viking Fund Management LLC now owns 117,000 shares of the oil and gas company’s stock valued at $19,573,000 after purchasing an additional 10,000 shares in the last quarter. Allianz SE purchased a new stake in Chevron during the fourth quarter valued at about $9,369,000. Nicholas Company Inc. raised its position in Chevron by 4.3% during the fourth quarter. Nicholas Company Inc. now owns 80,025 shares of the oil and gas company’s stock valued at $11,591,000 after purchasing an additional 3,280 shares in the last quarter. Finally, Applied Finance Capital Management LLC increased its holdings in shares of Chevron by 1.6% in the fourth quarter. Applied Finance Capital Management LLC now owns 179,815 shares of the oil and gas company’s stock worth $26,044,000 after buying an additional 2,755 shares during the period. 72.42% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Redburn Atlantic reiterated a “sell” rating and issued a $124.00 price objective (down previously from $156.00) on shares of Chevron in a report on Wednesday, April 23rd. TD Cowen dropped their price target on Chevron from $155.00 to $150.00 and set a “hold” rating on the stock in a research report on Monday, May 5th. BNP Paribas cut Chevron to a “cautious” rating in a research report on Tuesday, April 15th. Hsbc Global Res cut Chevron from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 13th. Finally, DZ Bank lowered shares of Chevron from a “buy” rating to a “sell” rating and set a $130.00 target price for the company. in a research note on Tuesday, May 6th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $160.24.

Chevron Trading Up 0.4%

Shares of CVX stock opened at $140.76 on Tuesday. Chevron Co. has a 52-week low of $132.04 and a 52-week high of $168.96. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. The firm has a market capitalization of $245.82 billion, a PE ratio of 14.48, a PEG ratio of 1.46 and a beta of 0.83. The stock has a fifty day simple moving average of $138.46 and a two-hundred day simple moving average of $149.50.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.15 by $0.03. Chevron had a return on equity of 11.44% and a net margin of 8.71%. The business had revenue of $47.61 billion during the quarter, compared to analyst estimates of $49.05 billion. During the same quarter in the prior year, the business posted $2.93 EPS. Chevron’s revenue for the quarter was down 2.3% compared to the same quarter last year. On average, analysts predict that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th will be paid a $1.71 dividend. The ex-dividend date of this dividend is Monday, May 19th. This represents a $6.84 dividend on an annualized basis and a yield of 4.86%. Chevron’s payout ratio is presently 78.17%.

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.