First Financial Bankshares Inc Acquires 5,653 Shares of Chevron Co. (NYSE:CVX)

First Financial Bankshares Inc grew its holdings in shares of Chevron Co. (NYSE:CVX - Free Report) by 0.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 618,540 shares of the oil and gas company's stock after buying an additional 5,653 shares during the quarter. Chevron accounts for about 1.9% of First Financial Bankshares Inc's holdings, making the stock its 14th biggest position. First Financial Bankshares Inc's holdings in Chevron were worth $91,092,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in CVX. Anfield Capital Management LLC boosted its holdings in Chevron by 118.0% during the 2nd quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company's stock worth $34,000 after acquiring an additional 118 shares during the last quarter. Cyrus J. Lawrence LLC boosted its holdings in Chevron by 66.7% during the second quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company's stock worth $39,000 after purchasing an additional 100 shares during the last quarter. Krane Funds Advisors LLC purchased a new stake in Chevron in the 3rd quarter valued at about $47,000. Livelsberger Financial Advisory bought a new position in shares of Chevron during the 3rd quarter worth approximately $47,000. Finally, Dixon Mitchell Investment Counsel Inc. purchased a new position in shares of Chevron in the 1st quarter worth approximately $55,000. 72.42% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on CVX. Sanford C. Bernstein lowered Chevron from an "outperform" rating to a "market perform" rating and dropped their price target for the stock from $183.00 to $167.00 in a report on Wednesday, July 17th. Wells Fargo & Company lowered their target price on Chevron from $196.00 to $169.00 and set an "overweight" rating on the stock in a research note on Friday, September 27th. Royal Bank of Canada restated an "outperform" rating and set a $170.00 price target on shares of Chevron in a research report on Tuesday, October 8th. Mizuho lowered their price objective on shares of Chevron from $205.00 to $189.00 and set an "outperform" rating on the stock in a research report on Monday, September 16th. Finally, Wolfe Research initiated coverage on shares of Chevron in a research note on Thursday, July 18th. They issued a "peer perform" rating on the stock. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $173.07.

Chevron Stock Performance

Shares of NYSE CVX traded down $0.26 during mid-day trading on Monday, hitting $150.55. The company had a trading volume of 8,889,937 shares, compared to its average volume of 7,657,328. The company has a current ratio of 1.16, a quick ratio of 0.85 and a debt-to-equity ratio of 0.13. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $167.11. The company has a market capitalization of $275.34 billion, a price-to-earnings ratio of 14.91, a P/E/G ratio of 3.29 and a beta of 1.09. The stock's 50-day moving average price is $146.66 and its 200-day moving average price is $153.15.

Chevron (NYSE:CVX - Get Free Report) last posted its earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share for the quarter, missing analysts' consensus estimates of $2.93 by ($0.38). Chevron had a net margin of 9.31% and a return on equity of 13.70%. The company had revenue of $51.18 billion for the quarter, compared to analysts' expectations of $48.68 billion. During the same period in the previous year, the firm earned $3.08 EPS. The firm's quarterly revenue was up 4.7% compared to the same quarter last year. On average, sell-side analysts forecast that Chevron Co. will post 10.86 earnings per share for the current year.

Chevron Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were issued a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 4.33%. The ex-dividend date of this dividend was Monday, August 19th. Chevron's payout ratio is 64.55%.

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.