Chevron Co. (NYSE:CVX) Shares Sold by Bahl & Gaynor Inc.

Bahl & Gaynor Inc. trimmed its holdings in shares of Chevron Co. (NYSE:CVX) by 3.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,303,048 shares of the oil and gas company’s stock after selling 73,790 shares during the period. Chevron comprises 1.8% of Bahl & Gaynor Inc.’s investment portfolio, making the stock its 18th largest position. Bahl & Gaynor Inc. owned 0.13% of Chevron worth $333,573,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Pacer Advisors Inc. lifted its holdings in shares of Chevron by 949.6% during the 3rd quarter. Pacer Advisors Inc. now owns 3,819,963 shares of the oil and gas company’s stock valued at $562,566,000 after acquiring an additional 3,456,008 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Chevron by 11.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 31,108,760 shares of the oil and gas company’s stock valued at $4,581,137,000 after purchasing an additional 3,203,899 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Chevron by 17.3% during the fourth quarter. Bank of New York Mellon Corp now owns 16,496,687 shares of the oil and gas company’s stock worth $2,389,380,000 after purchasing an additional 2,432,756 shares in the last quarter. State Street Corp boosted its position in shares of Chevron by 0.6% in the third quarter. State Street Corp now owns 159,105,244 shares of the oil and gas company’s stock worth $23,431,429,000 after buying an additional 874,962 shares during the period. Finally, Proficio Capital Partners LLC grew its stake in shares of Chevron by 22,996.9% in the fourth quarter. Proficio Capital Partners LLC now owns 847,425 shares of the oil and gas company’s stock valued at $122,741,000 after buying an additional 843,756 shares in the last quarter. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Chevron Stock Performance

CVX stock opened at $153.05 on Tuesday. The stock’s 50 day simple moving average is $153.35 and its 200 day simple moving average is $151.58. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $167.11. The firm has a market cap of $269.46 billion, a P/E ratio of 15.75, a P/E/G ratio of 1.46 and a beta of 1.11. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.36). Chevron had a return on equity of 11.44% and a net margin of 8.71%. During the same quarter in the prior year, the company earned $3.45 earnings per share. As a group, equities research analysts predict that Chevron Co. will post 10.79 EPS for the current year.

Chevron Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be paid a $1.71 dividend. This is an increase from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a yield of 4.47%. The ex-dividend date of this dividend is Friday, February 14th. Chevron’s payout ratio is presently 70.37%.

Wall Street Analyst Weigh In

CVX has been the subject of a number of analyst reports. Royal Bank of Canada restated an “outperform” rating and issued a $175.00 price target on shares of Chevron in a report on Monday, February 3rd. Truist Financial lowered their price target on shares of Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a report on Tuesday, February 4th. DZ Bank upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 price objective on the stock in a report on Tuesday, November 5th. Citigroup upgraded Chevron from a “neutral” rating to a “buy” rating and raised their target price for the company from $145.00 to $185.00 in a research note on Tuesday, November 26th. Finally, Wells Fargo & Company cut their price target on Chevron from $188.00 to $184.00 and set an “overweight” rating on the stock in a research note on Monday, February 3rd. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, Chevron currently has a consensus rating of “Moderate Buy” and an average target price of $174.13.

Insider Activity

In related news, VP Jeff B. Gustavson sold 9,325 shares of the business’s stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $152.50, for a total transaction of $1,422,062.50. Following the completion of the transaction, the vice president now owns 1,057 shares in the company, valued at $161,192.50. The trade was a 89.82 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate 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.