Chevron Co. (NYSE:CVX) Stock Holdings Cut by Bahl & Gaynor Inc.

Bahl & Gaynor Inc. lowered its holdings in shares of Chevron Co. (NYSE:CVX) by 3.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,747,444 shares of the oil and gas company’s stock after selling 87,630 shares during the quarter. Chevron makes up 2.5% of Bahl & Gaynor Inc.’s holdings, making the stock its 10th largest position. Bahl & Gaynor Inc.’s holdings in Chevron were worth $409,809,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in shares of Chevron by 0.3% during the third quarter. Vanguard Group Inc. now owns 161,924,375 shares of the oil and gas company’s stock valued at $27,303,688,000 after acquiring an additional 458,080 shares during the last quarter. Morgan Stanley raised its holdings in shares of Chevron by 7.0% during the third quarter. Morgan Stanley now owns 34,166,899 shares of the oil and gas company’s stock valued at $5,761,223,000 after acquiring an additional 2,244,995 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Chevron by 1.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 24,236,141 shares of the oil and gas company’s stock valued at $4,059,834,000 after acquiring an additional 368,898 shares during the last quarter. Northern Trust Corp raised its holdings in shares of Chevron by 2.6% during the third quarter. Northern Trust Corp now owns 22,705,118 shares of the oil and gas company’s stock valued at $3,828,537,000 after acquiring an additional 569,850 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its holdings in shares of Chevron by 0.4% during the third quarter. Ameriprise Financial Inc. now owns 14,814,522 shares of the oil and gas company’s stock valued at $2,499,684,000 after acquiring an additional 62,254 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on CVX shares. Piper Sandler increased their price target on Chevron from $180.00 to $204.00 and gave the company an “overweight” rating in a report on Thursday, April 18th. Scotiabank raised Chevron from a “sector perform” rating to a “sector outperform” rating and increased their price target for the company from $170.00 to $195.00 in a report on Thursday, April 11th. Truist Financial cut their price target on Chevron from $168.00 to $156.00 and set a “hold” rating for the company in a report on Friday, April 5th. Royal Bank of Canada increased their price target on Chevron from $185.00 to $190.00 and gave the company an “outperform” rating in a report on Monday, February 5th. Finally, TD Cowen cut Chevron from an “outperform” rating to a “market perform” rating and cut their price target for the company from $170.00 to $150.00 in a report on Tuesday, January 23rd. Six equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $184.75.

Chevron Trading Up 0.4 %

CVX opened at $165.89 on Friday. Chevron Co. has a 52 week low of $139.62 and a 52 week high of $171.70. The business has a fifty day simple moving average of $156.58 and a 200-day simple moving average of $151.83. The firm has a market cap of $308.10 billion, a P/E ratio of 14.60, a P/E/G ratio of 2.43 and a beta of 1.12. The company has a quick ratio of 1.01, a current ratio of 1.27 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, April 26th. The oil and gas company reported $2.93 EPS for the quarter, topping the consensus estimate of $2.84 by $0.09. Chevron had a return on equity of 15.24% and a net margin of 10.63%. The business had revenue of $48.72 billion during the quarter, compared to analyst estimates of $48.42 billion. During the same period last year, the business posted $3.55 earnings per share. The company’s quarterly revenue was down 4.1% on a year-over-year basis. On average, equities analysts expect that Chevron Co. will post 13.58 earnings per share for the current year.

Chevron Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 17th will be issued a $1.63 dividend. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $6.52 dividend on an annualized basis and a yield of 3.93%. Chevron’s dividend payout ratio (DPR) is presently 57.39%.

Insider Activity at Chevron

In related news, VP Alana K. Knowles sold 2,800 shares of Chevron stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $160.09, for a total value of $448,252.00. Following the completion of the transaction, the vice president now directly owns 276 shares in the company, valued at $44,184.84. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.18% of the stock is currently owned by company insiders.

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.