First Citizens Financial Corp Buys Shares of 1,360 Chevron Co. (NYSE:CVX)

First Citizens Financial Corp bought a new position in Chevron Co. (NYSE:CVX) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,360 shares of the oil and gas company’s stock, valued at approximately $228,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Allianz SE bought a new stake in Chevron in the fourth quarter worth approximately $9,369,000. Nicholas Company Inc. increased its holdings in shares of Chevron by 4.3% during the fourth quarter. Nicholas Company Inc. now owns 80,025 shares of the oil and gas company’s stock worth $11,591,000 after buying an additional 3,280 shares in the last quarter. Applied Finance Capital Management LLC grew its holdings in Chevron by 1.6% during the 4th quarter. Applied Finance Capital Management LLC now owns 179,815 shares of the oil and gas company’s stock worth $26,044,000 after acquiring an additional 2,755 shares during the last quarter. Cerity Partners LLC raised its holdings in Chevron by 4.5% during the 4th quarter. Cerity Partners LLC now owns 1,205,747 shares of the oil and gas company’s stock worth $174,817,000 after purchasing an additional 52,307 shares during the last quarter. Finally, Wedbush Securities Inc. grew its stake in shares of Chevron by 6.8% during the fourth quarter. Wedbush Securities Inc. now owns 118,066 shares of the oil and gas company’s stock worth $17,101,000 after purchasing an additional 7,557 shares during the period. Institutional investors own 72.42% of the company’s stock.

Chevron Stock Down 1.3%

Shares of NYSE:CVX opened at $136.05 on Thursday. 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 capitalization of $237.60 billion, a price-to-earnings ratio of 14.00, a PEG ratio of 1.46 and a beta of 0.83. Chevron Co. has a 12-month low of $132.04 and a 12-month high of $168.96. The business has a 50-day moving average price of $143.01 and a 200 day moving average price of $150.83.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share for the quarter, beating analysts’ consensus estimates of $2.15 by $0.03. Chevron had a return on equity of 11.44% and a net margin of 8.71%. The company had revenue of $47.61 billion for the quarter, compared to analysts’ expectations of $49.05 billion. During the same period last year, the firm earned $2.93 earnings per share. Chevron’s quarterly revenue was down 2.3% on a year-over-year basis. Sell-side analysts expect that Chevron Co. will post 10.79 EPS for the current year.

Chevron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th will be given a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 5.03%. The ex-dividend date is Monday, May 19th. Chevron’s dividend payout ratio is currently 78.17%.

Analysts Set New Price Targets

A number of research firms recently issued reports on CVX. Piper Sandler decreased their price objective on Chevron from $173.00 to $162.00 and set an “overweight” rating for the company in a report on Tuesday, May 13th. DZ Bank cut Chevron from a “buy” rating to a “sell” rating and set a $130.00 price target on the stock. in a research report on Tuesday, May 6th. Hsbc Global Res lowered shares of Chevron from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 13th. HSBC lowered Chevron from a “buy” rating to a “hold” rating and lowered their target price for the stock from $176.00 to $158.00 in a research report on Tuesday, May 13th. Finally, Wells Fargo & Company decreased their target price on Chevron from $173.00 to $164.00 and set an “overweight” rating for the company in a research note on Monday, May 5th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, Chevron presently has an average rating of “Hold” and a consensus price target of $160.24.

About Chevron

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.