First National Bank of Mount Dora Trust Investment Services Sells 220 Shares of Chevron Co. (NYSE:CVX)

by · The Markets Daily

First National Bank of Mount Dora Trust Investment Services reduced its position in Chevron Co. (NYSE:CVX – Free Report) by 1.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 21,685 shares of the oil and gas company’s stock after selling 220 shares during the quarter. First National Bank of Mount Dora Trust Investment Services’ holdings in Chevron were worth $3,235,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Windsor Advisory Group LLC raised its stake in shares of Chevron by 24.0% during the third quarter. Windsor Advisory Group LLC now owns 3,720 shares of the oil and gas company’s stock worth $627,000 after acquiring an additional 720 shares in the last quarter. Dechtman Wealth Management LLC bought a new position in shares of Chevron in the second quarter worth approximately $648,000. Altrius Capital Management Inc grew its holdings in shares of Chevron by 2.1% in the third quarter. Altrius Capital Management Inc now owns 21,333 shares of the oil and gas company’s stock worth $3,597,000 after purchasing an additional 434 shares during the last quarter. Tsfg LLC grew its holdings in shares of Chevron by 5.3% in the third quarter. Tsfg LLC now owns 3,473 shares of the oil and gas company’s stock worth $586,000 after purchasing an additional 176 shares during the last quarter. Finally, Bridgewealth Advisory Group LLC grew its holdings in shares of Chevron by 1.7% in the second quarter. Bridgewealth Advisory Group LLC now owns 5,703 shares of the oil and gas company’s stock worth $898,000 after purchasing an additional 95 shares during the last quarter. 68.87% of the stock is currently owned by institutional investors.

Chevron Stock Performance

Shares of NYSE CVX traded up $0.78 during trading hours on Thursday, reaching $154.67. The stock had a trading volume of 5,252,946 shares, compared to its average volume of 8,728,854. The firm has a market cap of $287.26 billion, a price-to-earnings ratio of 13.55, a PEG ratio of 0.83 and a beta of 1.12. The company has a current ratio of 1.27, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13. Chevron Co. has a fifty-two week low of $139.62 and a fifty-two week high of $172.88. The firm has a 50-day moving average of $149.84 and a 200-day moving average of $153.24.

Chevron (NYSE:CVX – Get Free Report) last announced its earnings results on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.19 by $0.26. The firm had revenue of $47.18 billion during the quarter, compared to analysts’ expectations of $50.93 billion. Chevron had a return on equity of 15.24% and a net margin of 10.63%. The business’s revenue was down 16.5% on a year-over-year basis. During the same period in the prior year, the firm earned $4.09 EPS. Equities research analysts predict that Chevron Co. will post 12.87 earnings per share for the current year.

Chevron Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Friday, February 16th were given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 4.22%. This is a boost from Chevron’s previous quarterly dividend of $1.51. The ex-dividend date was Thursday, February 15th. Chevron’s dividend payout ratio (DPR) is presently 57.39%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Jefferies Financial Group upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $184.00 price target on the stock in a report on Monday, January 8th. Royal Bank of Canada increased their price target on Chevron from $185.00 to $190.00 and gave the company an “outperform” rating in a report on Monday, February 5th. Scotiabank lowered Chevron from a “sector outperform” rating to a “sector perform” rating and set a $170.00 target price on the stock. in a research note on Tuesday, January 16th. TD Cowen downgraded Chevron from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $170.00 to $150.00 in a research report on Tuesday, January 23rd. Finally, UBS Group dropped their price objective on Chevron from $194.00 to $185.00 and set a “buy” rating on the stock in a research report on Thursday, December 14th. Seven equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, Chevron has a consensus rating of “Moderate Buy” and a consensus price target of $180.56.

Read Our Latest Analysis on CVX

About Chevron

(Free Report)

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; liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and processing, transportation, storage, and marketing of natural gas, as well as a gas-to-liquids plant.

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