Chevron Co. (NYSE:CVX) Stock Position Decreased by Fifth Third Bancorp

Fifth Third Bancorp lessened its holdings in shares of Chevron Co. (NYSE:CVXFree Report) by 1.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,014,298 shares of the oil and gas company’s stock after selling 12,269 shares during the period. Fifth Third Bancorp owned 0.05% of Chevron worth $151,293,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Picton Mahoney Asset Management bought a new stake in shares of Chevron during the 3rd quarter valued at about $26,000. Valley Forge Investment Consultants Inc. ADV grew its position in shares of Chevron by 80.0% during the 3rd quarter. Valley Forge Investment Consultants Inc. ADV now owns 180 shares of the oil and gas company’s stock valued at $30,000 after buying an additional 80 shares during the last quarter. DHJJ Financial Advisors Ltd. bought a new stake in shares of Chevron during the 3rd quarter valued at about $35,000. Valued Wealth Advisors LLC bought a new stake in shares of Chevron during the 4th quarter valued at about $33,000. Finally, Worth Asset Management LLC acquired a new position in Chevron during the 1st quarter valued at about $36,000. Institutional investors own 72.42% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on CVX. TD Cowen lowered shares of Chevron from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $170.00 to $150.00 in a research note on Tuesday, January 23rd. Royal Bank of Canada boosted their price target on shares of Chevron from $185.00 to $190.00 and gave the company an “outperform” rating in a report on Monday, February 5th. Jefferies Financial Group upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $184.00 price target on the stock in a report on Monday, January 8th. DZ Bank cut shares of Chevron from a “buy” rating to a “hold” rating and set a $160.00 price target on the stock. in a report on Tuesday, February 6th. Finally, Mizuho boosted their price target on shares of Chevron from $195.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday, March 20th. Seven equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, Chevron presently has an average rating of “Moderate Buy” and a consensus target price of $180.39.

Get Our Latest Report on Chevron

Chevron Stock Up 0.9 %

Chevron stock opened at $157.74 on Monday. The firm has a market cap of $292.97 billion, a price-to-earnings ratio of 13.89, a P/E/G ratio of 2.42 and a beta of 1.12. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.27 and a quick ratio of 1.01. Chevron Co. has a fifty-two week low of $139.62 and a fifty-two week high of $172.88. The firm has a fifty day moving average price of $152.23 and a two-hundred day moving average price of $152.57.

Chevron (NYSE:CVXGet Free Report) last released its earnings results on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share for the quarter, topping analysts’ consensus estimates of $3.19 by $0.26. The firm had revenue of $47.18 billion during the quarter, compared to analyst estimates of $50.93 billion. Chevron had a net margin of 10.63% and a return on equity of 15.24%. The business’s revenue was down 16.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.09 EPS. As a group, analysts forecast that Chevron Co. will post 13.04 earnings per share for the current year.

Chevron Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Friday, February 16th were given a dividend of $1.63 per share. This is a positive change from Chevron’s previous quarterly dividend of $1.51. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $6.52 dividend on an annualized basis and a yield of 4.13%. Chevron’s payout ratio is currently 57.39%.

Chevron Profile

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding CVX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Chevron Co. (NYSE:CVXFree Report).

Institutional Ownership by Quarter for Chevron (NYSE:CVX)

Receive News & Ratings for Chevron Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chevron and related companies with MarketBeat.com's FREE daily email newsletter.