First Western Trust Bank Sells 1,877 Shares of Chevron Co. (NYSE:CVX)

First Western Trust Bank cut its holdings in Chevron Co. (NYSE:CVX) by 23.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,033 shares of the oil and gas company’s stock after selling 1,877 shares during the quarter. First Western Trust Bank’s holdings in Chevron were worth $949,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the business. Cantor Fitzgerald Investment Advisor L.P lifted its holdings in Chevron by 85.1% in the first quarter. Cantor Fitzgerald Investment Advisor L.P now owns 159,115 shares of the oil and gas company’s stock worth $25,908,000 after buying an additional 73,141 shares during the period. Axiom Financial Strategies LLC lifted its holdings in Chevron by 25.2% in the first quarter. Axiom Financial Strategies LLC now owns 7,335 shares of the oil and gas company’s stock worth $1,155,000 after buying an additional 1,476 shares during the period. GQG Partners LLC lifted its holdings in Chevron by 4.7% in the first quarter. GQG Partners LLC now owns 40,538 shares of the oil and gas company’s stock worth $6,598,000 after buying an additional 1,813 shares during the period. Lumature Wealth Partners LLC lifted its holdings in Chevron by 43.5% in the first quarter. Lumature Wealth Partners LLC now owns 5,837 shares of the oil and gas company’s stock worth $950,000 after buying an additional 1,770 shares during the period. Finally, First Trust Advisors LP lifted its holdings in Chevron by 13.8% in the first quarter. First Trust Advisors LP now owns 2,068,600 shares of the oil and gas company’s stock worth $336,830,000 after buying an additional 250,840 shares during the period. 68.87% of the stock is owned by institutional investors.

Chevron Stock Performance

NYSE:CVX traded up $0.46 during trading hours on Monday, reaching $144.92. The company had a trading volume of 3,300,476 shares, compared to its average volume of 8,359,087. Chevron Co. has a 52 week low of $140.74 and a 52 week high of $187.81. The firm’s 50 day moving average price is $158.68 and its 200-day moving average price is $158.22. The company has a current ratio of 1.25, a quick ratio of 0.97 and a debt-to-equity ratio of 0.12. The firm has a market cap of $273.57 billion, a price-to-earnings ratio of 10.82, a PEG ratio of 0.73 and a beta of 1.16.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, October 27th. The oil and gas company reported $3.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.70 by ($0.65). Chevron had a net margin of 12.11% and a return on equity of 16.15%. The business had revenue of $54.08 billion for the quarter, compared to the consensus estimate of $51.41 billion. During the same period in the previous year, the firm earned $5.56 EPS. The company’s revenue was down 18.9% on a year-over-year basis. On average, analysts forecast that Chevron Co. will post 13.59 EPS for the current year.

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 11th. Stockholders of record on Friday, November 17th will be given a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a dividend yield of 4.17%. The ex-dividend date of this dividend is Thursday, November 16th. Chevron’s payout ratio is 44.84%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on CVX shares. Bank of America upgraded shares of Chevron from a “neutral” rating to a “buy” rating and lifted their target price for the company from $190.00 to $200.00 in a report on Monday, October 30th. Mizuho lowered their target price on shares of Chevron from $215.00 to $195.00 and set a “buy” rating for the company in a report on Tuesday, November 14th. Truist Financial lowered their target price on shares of Chevron from $175.00 to $169.00 and set a “hold” rating for the company in a report on Tuesday, October 24th. Royal Bank of Canada reiterated an “outperform” rating and set a $180.00 target price on shares of Chevron in a report on Tuesday, October 24th. Finally, HSBC lifted their target price on shares of Chevron from $180.00 to $184.00 in a report on Wednesday, August 9th. Four analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Chevron currently has a consensus rating of “Moderate Buy” and an average target price of $187.89.

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; 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.