Citizens Business Bank Reduces Stock Position in Chevron Co. (NYSE:CVX)

Citizens Business Bank trimmed its position in Chevron Co. (NYSE:CVX) by 1.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 30,040 shares of the oil and gas company’s stock after selling 315 shares during the quarter. Citizens Business Bank’s holdings in Chevron were worth $4,608,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of CVX. Montz Harcus Wealth Management LLC increased its holdings in shares of Chevron by 2.2% in the 2nd quarter. Montz Harcus Wealth Management LLC now owns 2,943 shares of the oil and gas company’s stock valued at $460,000 after purchasing an additional 63 shares in the last quarter. Tacita Capital Inc grew its position in Chevron by 16.7% during the third quarter. Tacita Capital Inc now owns 454 shares of the oil and gas company’s stock worth $67,000 after buying an additional 65 shares during the period. Wallace Capital Management Inc. increased its holdings in Chevron by 0.8% in the third quarter. Wallace Capital Management Inc. now owns 8,229 shares of the oil and gas company’s stock valued at $1,212,000 after buying an additional 65 shares in the last quarter. Cyndeo Wealth Partners LLC lifted its position in shares of Chevron by 0.3% during the 3rd quarter. Cyndeo Wealth Partners LLC now owns 19,769 shares of the oil and gas company’s stock valued at $2,911,000 after acquiring an additional 67 shares during the period. Finally, S.A. Mason LLC lifted its position in shares of Chevron by 0.7% during the 3rd quarter. S.A. Mason LLC now owns 9,033 shares of the oil and gas company’s stock valued at $1,330,000 after acquiring an additional 67 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on CVX. Wells Fargo & Company raised their price objective on Chevron from $171.00 to $188.00 and gave the company an “overweight” rating in a research note on Monday. DZ Bank raised Chevron from a “hold” rating to a “buy” rating and set a $170.00 target price on the stock in a report on Tuesday, November 5th. 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 research note on Monday, November 4th. Citigroup raised shares of Chevron from a “neutral” rating to a “buy” rating and increased their price objective for the company from $145.00 to $185.00 in a research note on Tuesday, November 26th. Finally, Barclays lifted their target price on shares of Chevron from $168.00 to $174.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. Four equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $177.13.

Chevron Stock Down 0.0 %

CVX stock opened at $157.07 on Wednesday. The company has a 50 day moving average price of $154.97 and a two-hundred day moving average price of $152.42. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. The stock has a market capitalization of $282.27 billion, a P/E ratio of 17.26, a PEG ratio of 3.47 and a beta of 1.10. Chevron Co. has a one year low of $135.37 and a one year high of $167.11.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, November 1st. The oil and gas company reported $2.51 EPS for the quarter, beating analysts’ consensus estimates of $2.47 by $0.04. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The business had revenue of $50.67 billion during the quarter, compared to the consensus estimate of $48.86 billion. During the same quarter in the previous year, the business earned $3.05 earnings per share. The business’s revenue for the quarter was down 6.3% on a year-over-year basis. As a group, sell-side analysts expect that Chevron Co. will post 10.54 EPS for the current year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th were paid a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.15%. The ex-dividend date of this dividend was Monday, November 18th. Chevron’s dividend payout ratio is currently 71.65%.

Insider Transactions at Chevron

In related news, CEO Michael K. Wirth sold 164,600 shares of Chevron stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $160.13, for a total value of $26,357,398.00. Following the transaction, the chief executive officer now owns 4,280 shares in the company, valued at approximately $685,356.40. This trade represents a 97.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.20% of the company’s stock.

Chevron 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.