First American Bank Has $12.67 Million Position in Chevron Corporation $CVX

First American Bank cut its stake in Chevron Corporation (NYSE:CVX) by 5.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 81,569 shares of the oil and gas company’s stock after selling 5,148 shares during the quarter. First American Bank’s holdings in Chevron were worth $12,667,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of CVX. Graham Capital Management L.P. acquired a new position in shares of Chevron in the first quarter valued at approximately $594,000. EP Wealth Advisors LLC boosted its stake in Chevron by 14.3% in the 1st quarter. EP Wealth Advisors LLC now owns 147,035 shares of the oil and gas company’s stock valued at $24,597,000 after purchasing an additional 18,415 shares during the period. Federation des caisses Desjardins du Quebec grew its holdings in Chevron by 39.5% in the 1st quarter. Federation des caisses Desjardins du Quebec now owns 112,991 shares of the oil and gas company’s stock valued at $18,905,000 after buying an additional 31,993 shares in the last quarter. Rench Wealth Management Inc. increased its position in Chevron by 1.3% during the 1st quarter. Rench Wealth Management Inc. now owns 31,666 shares of the oil and gas company’s stock worth $5,297,000 after buying an additional 401 shares during the period. Finally, 1 North Wealth Services LLC acquired a new stake in shares of Chevron during the first quarter worth $45,000. Institutional investors own 72.42% of the company’s stock.

Insider Activity at Chevron

In other news, Director John B. Hess sold 275,000 shares of the stock in a transaction dated Thursday, November 20th. The shares were sold at an average price of $150.75, for a total value of $41,456,250.00. Following the completion of the transaction, the director owned 1,128,045 shares of the company’s stock, valued at approximately $170,052,783.75. This represents a 19.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.20% of the company’s stock.

Chevron Stock Performance

Shares of NYSE:CVX opened at $152.31 on Wednesday. Chevron Corporation has a 1 year low of $132.04 and a 1 year high of $168.96. The stock has a market capitalization of $306.69 billion, a price-to-earnings ratio of 21.42, a price-to-earnings-growth ratio of 9.06 and a beta of 0.68. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.15 and a quick ratio of 0.86. The company’s 50 day simple moving average is $152.01 and its 200 day simple moving average is $152.97.

Chevron (NYSE:CVX) last issued its earnings results on Friday, October 31st. The oil and gas company reported $1.85 earnings per share for the quarter, beating analysts’ consensus estimates of $1.71 by $0.14. Chevron had a return on equity of 8.74% and a net margin of 6.57%.The firm had revenue of $48.17 billion for the quarter, compared to the consensus estimate of $46.99 billion. During the same quarter last year, the business posted $2.48 EPS. The company’s revenue was down 1.9% compared to the same quarter last year. As a group, research analysts predict that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 10th. Shareholders of record on Tuesday, November 18th were given a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date was Tuesday, November 18th. Chevron’s payout ratio is currently 96.20%.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. HSBC set a $169.00 price target on shares of Chevron and gave the company a “buy” rating in a research note on Monday, December 1st. UBS Group reaffirmed a “buy” rating on shares of Chevron in a report on Monday, December 1st. Mizuho lifted their price target on shares of Chevron from $204.00 to $206.00 and gave the company an “outperform” rating in a research report on Friday, December 12th. Bank of America reduced their price target on Chevron from $183.00 to $180.00 and set a “buy” rating on the stock in a research report on Thursday, December 11th. Finally, Raymond James Financial reaffirmed an “outperform” rating and issued a $160.00 price objective (down from $170.00) on shares of Chevron in a report on Friday, October 17th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, eight have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $166.00.

Chevron Profile

Chevron Corporation (NYSE: CVX) is an American multinational energy company engaged in virtually all aspects of the oil and gas industry. As an integrated energy firm, Chevron’s core activities include upstream oil and natural gas exploration and production, midstream transportation and storage, downstream refining and marketing of fuels and lubricants, and petrochemical manufacturing through joint ventures and subsidiaries. The company markets fuels under brands such as Chevron, Texaco and Caltex and supplies a range of products and services to retail customers, industrial users and commercial fleets worldwide.

Chevron traces its corporate lineage to the early petroleum companies that eventually became Standard Oil of California and has evolved through significant mergers and restructurings, including the acquisitions of Gulf Oil and Texaco.