AMG National Trust Bank Sells 10,404 Shares of Chevron Co. (NYSE:CVX)

AMG National Trust Bank reduced its holdings in Chevron Co. (NYSE:CVX) by 21.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 38,687 shares of the oil and gas company’s stock after selling 10,404 shares during the period. AMG National Trust Bank’s holdings in Chevron were worth $5,697,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Marietta Wealth Management LLC boosted its stake in Chevron by 10.9% in the 3rd quarter. Marietta Wealth Management LLC now owns 40,484 shares of the oil and gas company’s stock valued at $5,962,000 after purchasing an additional 3,965 shares during the period. Leo Wealth LLC boosted its stake in shares of Chevron by 19.6% during the third quarter. Leo Wealth LLC now owns 8,246 shares of the oil and gas company’s stock valued at $1,214,000 after purchasing an additional 1,354 shares in the last quarter. RPG Investment Advisory LLC grew its holdings in Chevron by 3.4% during the 3rd quarter. RPG Investment Advisory LLC now owns 121,167 shares of the oil and gas company’s stock worth $17,844,000 after acquiring an additional 3,933 shares during the last quarter. Garner Asset Management Corp raised its position in Chevron by 14.5% during the 2nd quarter. Garner Asset Management Corp now owns 19,997 shares of the oil and gas company’s stock worth $3,128,000 after purchasing an additional 2,530 shares during the last quarter. Finally, Cantor Fitzgerald Investment Advisors L.P. lifted its holdings in Chevron by 3.2% during the 3rd quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 114,961 shares of the oil and gas company’s stock worth $16,930,000 after buying an additional 3,561 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on CVX shares. Wells Fargo & Company decreased their target price on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a research report on Friday, September 27th. UBS Group boosted their price objective on Chevron from $192.00 to $194.00 and gave the company a “buy” rating in a report on Monday, November 4th. DZ Bank upgraded Chevron from a “hold” rating to a “buy” rating and set a $170.00 price target for the company in a research note on Tuesday, November 5th. Barclays upped their target price on shares of Chevron from $168.00 to $174.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th. Finally, Royal Bank of Canada lifted their price target on Chevron from $170.00 to $175.00 and gave the stock an “outperform” rating in a report on Monday, November 4th. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $174.93.

Chevron Stock Performance

Shares of CVX opened at $161.42 on Monday. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $167.11. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. The company has a market cap of $290.09 billion, a PE ratio of 17.74, a price-to-earnings-growth ratio of 3.63 and a beta of 1.09. The stock has a 50-day moving average price of $149.39 and a 200-day moving average price of $152.57.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.47 by $0.04. The firm had revenue of $50.67 billion during the quarter, compared to analysts’ expectations of $48.86 billion. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The company’s revenue for the quarter was down 6.3% compared to the same quarter last year. During the same period in the prior year, the business earned $3.05 EPS. As a group, equities analysts forecast that Chevron Co. will post 10.55 earnings per share for the current fiscal year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th will be paid a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 4.04%. The ex-dividend date of this dividend is Monday, November 18th. Chevron’s dividend payout ratio (DPR) is presently 71.65%.

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