Latest Stocks: Chevron Co. (CVX) Stake Lowered by American National Bank

Latest Stocks: Chevron Co. (CVX) Stake Lowered by American National Bank

American National Bank decreased its position in shares of Chevron Co. (NYSE:CVX) by 1.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 54,618 shares of the oil and gas company’s stock after selling 985 shares during the period. Chevron makes up approximately 1.8% of American National Bank’s portfolio, making the stock its 17th largest position. American National Bank’s holdings in Chevron were worth $5,865,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the stock. BKD Wealth Advisors LLC raised its stake in Chevron by 2.4% in the first quarter. BKD Wealth Advisors LLC now owns 27,206 shares of the oil and gas company’s stock worth $2,921,000 after buying an additional 625 shares in the last quarter. Visionary Asset Management Inc. raised its stake in Chevron by 4.8% in the first quarter. Visionary Asset Management Inc. now owns 29,232 shares of the oil and gas company’s stock worth $3,139,000 after buying an additional 1,346 shares in the last quarter. Private Bank & Trust Co. raised its stake in Chevron by 4.8% in the first quarter. Private Bank & Trust Co. now owns 19,425 shares of the oil and gas company’s stock worth $2,087,000 after buying an additional 888 shares in the last quarter. Prospera Financial Services Inc raised its stake in Chevron by 117.3% in the first quarter. Prospera Financial Services Inc now owns 34,389 shares of the oil and gas company’s stock worth $3,724,000 after buying an additional 18,563 shares in the last quarter. Finally, Alpha Windward LLC raised its stake in Chevron by 1.6% in the first quarter. Alpha Windward LLC now owns 7,032 shares of the oil and gas company’s stock worth $755,000 after buying an additional 112 shares in the last quarter. 62.50% of the stock is owned by institutional investors.

Chevron Co. (NYSE:CVX) opened at 103.19 on Tuesday. The company has a 50-day moving average price of $105.51 and a 200-day moving average price of $110.76. Chevron Co. has a 12-month low of $97.53 and a 12-month high of $119.00. The firm has a market cap of $195.50 billion, a P/E ratio of 66.96 and a beta of 1.22.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, April 28th. The oil and gas company reported $1.41 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.85 by $0.56. The firm had revenue of $33.42 billion for the quarter, compared to analyst estimates of $34.05 billion. Chevron had a positive return on equity of 1.26% and a negative net margin of 0.43%. The business’s quarterly revenue was up 42.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.39) EPS. On average, analysts predict that Chevron Co. will post $4.33 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, June 12th. Shareholders of record on Friday, May 19th will be given a dividend of $1.08 per share. This represents a $4.32 annualized dividend and a dividend yield of 4.19%. The ex-dividend date is Wednesday, May 17th. Chevron’s dividend payout ratio (DPR) is -1,600.00%. A number of analysts have commented on the stock. HSBC Holdings plc raised shares of Chevron from a “hold” rating to a “buy” rating and upped their price objective for the company from $97.53 to $103.11 in a research note on Monday. They noted that the move was a valuation call. ValuEngine raised shares of Chevron from a “sell” rating to a “hold” rating in a research note on Friday. Exane BNP Paribas lowered shares of Chevron from a “neutral” rating to an “underperform” rating and reduced their price objective for the company from $105.00 to $100.00 in a research note on Friday, May 26th. BNP Paribas lowered shares of Chevron from a “neutral” rating to an “underperform” rating and set a $100.00 price objective for the company. in a research note on Friday, May 26th. Finally, Bank of America Corp reaffirmed a “buy” rating and set a $135.00 price objective (down from $145.00) on shares of Chevron in a research note on Thursday, May 11th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $118.53.

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