Bahl & Gaynor Inc. Sells 31,549 Shares of Chevron Corporation $CVX

Bahl & Gaynor Inc. decreased its position in shares of Chevron Corporation (NYSE:CVX) by 1.4% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,239,988 shares of the oil and gas company’s stock after selling 31,549 shares during the quarter. Chevron comprises approximately 1.6% of Bahl & Gaynor Inc.’s investment portfolio, making the stock its 15th largest position. Bahl & Gaynor Inc. owned approximately 0.13% of Chevron worth $320,744,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of CVX. Analyst IMS Investment Management Services Ltd. boosted its position in Chevron by 1.0% during the second quarter. Analyst IMS Investment Management Services Ltd. now owns 6,751 shares of the oil and gas company’s stock valued at $966,000 after acquiring an additional 67 shares during the last quarter. Greenfield Savings Bank lifted its stake in shares of Chevron by 0.6% in the 2nd quarter. Greenfield Savings Bank now owns 11,611 shares of the oil and gas company’s stock valued at $1,663,000 after purchasing an additional 68 shares during the period. Atwater Malick LLC lifted its stake in shares of Chevron by 2.4% in the 2nd quarter. Atwater Malick LLC now owns 2,886 shares of the oil and gas company’s stock valued at $413,000 after purchasing an additional 68 shares during the period. Hubbell Strickland Wealth Management LLC boosted its position in shares of Chevron by 0.7% during the 2nd quarter. Hubbell Strickland Wealth Management LLC now owns 10,081 shares of the oil and gas company’s stock valued at $1,443,000 after purchasing an additional 68 shares in the last quarter. Finally, Clarity Wealth Advisors LLC grew its stake in Chevron by 1.7% during the second quarter. Clarity Wealth Advisors LLC now owns 4,170 shares of the oil and gas company’s stock worth $597,000 after purchasing an additional 69 shares during the period. 72.42% of the stock is owned by institutional investors.

Chevron Stock Down 0.3%

Chevron stock opened at $149.93 on Friday. The firm has a market capitalization of $301.89 billion, a price-to-earnings ratio of 19.30, a price-to-earnings-growth ratio of 4.40 and a beta of 0.83. The firm’s fifty day moving average price is $154.83 and its two-hundred day moving average price is $150.74. Chevron Corporation has a 1-year low of $132.04 and a 1-year high of $168.96. The company has a current ratio of 1.00, a quick ratio of 0.74 and a debt-to-equity ratio of 0.16.

Chevron (NYSE:CVX) last posted its earnings results on Friday, October 31st. The oil and gas company reported $1.85 EPS for the quarter, topping the consensus estimate of $1.71 by $0.14. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The company had revenue of $48.17 billion during the quarter, compared to the consensus estimate of $46.99 billion. During the same period in the previous year, the firm posted $2.48 earnings per share. The firm’s revenue for the quarter was down 1.9% on a year-over-year basis. On average, equities research analysts predict that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Tuesday, November 18th will be paid a $1.71 dividend. The ex-dividend date of this dividend is Tuesday, November 18th. This represents a $6.84 annualized dividend and a dividend yield of 4.6%. Chevron’s dividend payout ratio is 96.20%.

Insider Buying and Selling at Chevron

In related news, VP Alana K. Knowles sold 3,978 shares of Chevron stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $160.00, for a total transaction of $636,480.00. Following the transaction, the vice president owned 1,181 shares of the company’s stock, valued at $188,960. The trade was a 77.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.21% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have issued reports on CVX. TD Cowen boosted their price target on Chevron from $150.00 to $155.00 and gave the company a “hold” rating in a research note on Monday, August 4th. Piper Sandler dropped their target price on shares of Chevron from $171.00 to $169.00 and set an “overweight” rating on the stock in a research report on Monday, November 10th. Morgan Stanley increased their target price on shares of Chevron from $177.00 to $180.00 and gave the stock an “overweight” rating in a research note on Thursday, November 13th. Mizuho lifted their price target on shares of Chevron from $191.00 to $204.00 and gave the company an “outperform” rating in a research note on Thursday, November 13th. Finally, Evercore ISI reiterated an “outperform” rating and set a $180.00 price objective on shares of Chevron in a report on Thursday, July 31st. Eleven investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $166.55.

Chevron Company 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.