First American Trust FSB Grows Position in Chevron Corporation $CVX

First American Trust FSB increased its position in shares of Chevron Corporation (NYSE:CVX) by 194.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,670 shares of the oil and gas company’s stock after acquiring an additional 11,668 shares during the quarter. First American Trust FSB’s holdings in Chevron were worth $2,693,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of CVX. Vanguard Group Inc. boosted its position in shares of Chevron by 17.9% during the 3rd quarter. Vanguard Group Inc. now owns 183,790,028 shares of the oil and gas company’s stock valued at $28,540,753,000 after acquiring an additional 27,961,463 shares during the last quarter. Norges Bank acquired a new position in shares of Chevron during the 4th quarter valued at about $3,727,586,000. State Street Corp boosted its position in shares of Chevron by 9.1% during the 3rd quarter. State Street Corp now owns 152,605,988 shares of the oil and gas company’s stock valued at $23,698,184,000 after acquiring an additional 12,789,399 shares during the last quarter. Primecap Management Co. CA acquired a new position in shares of Chevron during the 3rd quarter valued at about $988,083,000. Finally, Northwestern Mutual Wealth Management Co. boosted its position in shares of Chevron by 822.0% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 6,211,258 shares of the oil and gas company’s stock valued at $946,658,000 after acquiring an additional 5,537,580 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Morgan Stanley boosted their price target on shares of Chevron from $212.00 to $214.00 and gave the company an “overweight” rating in a research report on Friday, May 22nd. Scotiabank boosted their price target on shares of Chevron from $168.00 to $187.00 and gave the company a “sector perform” rating in a research report on Wednesday, April 22nd. Zacks Research cut shares of Chevron from a “strong-buy” rating to a “hold” rating in a research report on Monday. HSBC raised shares of Chevron from a “hold” rating to a “buy” rating and set a $215.00 price target on the stock in a research report on Friday, March 20th. Finally, Citigroup upped their target price on shares of Chevron from $210.00 to $235.00 and gave the company a “buy” rating in a research report on Thursday, April 2nd. Eighteen investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $205.70.

Insider Activity

In other news, insider R. Hewitt Pate sold 40,200 shares of the stock in a transaction dated Monday, March 30th. The shares were sold at an average price of $213.30, for a total transaction of $8,574,660.00. Following the sale, the insider owned 8,638 shares of the company’s stock, valued at approximately $1,842,485.40. This represents a 82.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John B. Hess sold 380,000 shares of the stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $193.20, for a total transaction of $73,416,000.00. Following the sale, the director directly owned 278,045 shares in the company, valued at $53,718,294. This represents a 57.75% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 615,200 shares of company stock worth $118,022,760 in the last three months. Corporate insiders own 0.56% of the company’s stock.

Chevron Trading Up 1.7%

NYSE CVX opened at $189.89 on Thursday. The stock has a market capitalization of $378.19 billion, a P/E ratio of 32.91, a PEG ratio of 0.62 and a beta of 0.48. Chevron Corporation has a 12 month low of $142.40 and a 12 month high of $214.71. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.09 and a quick ratio of 0.84. The firm’s 50-day moving average is $189.38 and its two-hundred day moving average is $177.75.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, May 1st. The oil and gas company reported $1.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.41. The business had revenue of $47.56 billion for the quarter, compared to analysts’ expectations of $51.86 billion. Chevron had a net margin of 5.79% and a return on equity of 6.90%. The business’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.18 earnings per share. On average, sell-side analysts anticipate that Chevron Corporation will post 15.74 earnings per share for the current year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Tuesday, May 19th were given a dividend of $1.78 per share. This represents a $7.12 annualized dividend and a dividend yield of 3.7%. The ex-dividend date of this dividend was Tuesday, May 19th. Chevron’s dividend payout ratio is currently 123.40%.

More Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron was highlighted as one of the top oil stocks to buy as energy investors look for resilient names, with articles emphasizing its defensive cash flows and income appeal. Article Title
• Positive Sentiment: Market commentary on Chevron’s Guyana assets pointed to a combined $7.6 billion profit for ExxonMobil and Chevron last year, reinforcing the value of its low-cost production base amid geopolitical tensions. Article Title
• Positive Sentiment: Chevron was also featured in a bullish technical forecast saying momentum is improving and buyers may be regaining control as the stock approaches a breakout level. Article Title
• Positive Sentiment: Reports that Chevron is advancing a major shale project in Argentina’s Vaca Muerta basin and moving closer to approval for a $13.8 billion investment could support future production growth. Article Title
• Neutral Sentiment: Chevron continues to attract attention as a dividend stock for retirement portfolios, which supports the investment case but does not represent a new catalyst. Article Title
• Negative Sentiment: Zacks Research downgraded Chevron from strong-buy to hold, which could temper enthusiasm despite the stock’s otherwise constructive news flow. Article Title

Chevron Company 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.