Chevron Co. (NYSE:CVX) is Bahl & Gaynor Inc.’s 10th Largest Position

Bahl & Gaynor Inc. lowered its position in Chevron Co. (NYSE:CVX) by 3.1% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 2,747,444 shares of the oil and gas company’s stock after selling 87,630 shares during the quarter. Chevron comprises 2.5% of Bahl & Gaynor Inc.’s investment portfolio, making the stock its 10th largest holding. Bahl & Gaynor Inc. owned approximately 0.15% of Chevron worth $409,809,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Herold Advisors Inc. boosted its position in shares of Chevron by 1.9% during the 4th quarter. Herold Advisors Inc. now owns 24,465 shares of the oil and gas company’s stock valued at $3,650,000 after acquiring an additional 446 shares during the last quarter. WD Rutherford LLC increased its stake in Chevron by 0.4% in the 4th quarter. WD Rutherford LLC now owns 21,670 shares of the oil and gas company’s stock worth $3,088,000 after purchasing an additional 85 shares during the period. Overbrook Management Corp increased its stake in Chevron by 24.8% in the 4th quarter. Overbrook Management Corp now owns 5,028 shares of the oil and gas company’s stock worth $750,000 after purchasing an additional 1,000 shares during the period. AM Investment Strategies LLC increased its stake in shares of Chevron by 6.6% during the fourth quarter. AM Investment Strategies LLC now owns 6,441 shares of the oil and gas company’s stock valued at $961,000 after buying an additional 399 shares during the period. Finally, Jackson Hole Capital Partners LLC increased its stake in shares of Chevron by 9.8% during the fourth quarter. Jackson Hole Capital Partners LLC now owns 13,208 shares of the oil and gas company’s stock valued at $1,970,000 after buying an additional 1,177 shares during the period. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Barclays assumed coverage on Chevron in a research note on Wednesday, April 10th. They set an “overweight” rating and a $203.00 target price on the stock. Raymond James boosted their target price on Chevron from $170.00 to $174.00 and gave the company an “outperform” rating in a research note on Monday, April 15th. Mizuho boosted their target price on Chevron from $195.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, March 20th. TD Cowen lowered Chevron from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $170.00 to $150.00 in a research report on Tuesday, January 23rd. Finally, Wells Fargo & Company lifted their price target on Chevron from $185.00 to $198.00 and gave the company an “overweight” rating in a research report on Thursday, April 4th. Six equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $184.75.

Chevron Trading Up 0.4 %

Chevron stock opened at $165.89 on Friday. 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 one year low of $139.62 and a one year high of $171.70. The stock has a market capitalization of $308.10 billion, a PE ratio of 14.60, a price-to-earnings-growth ratio of 2.43 and a beta of 1.12. The business’s fifty day moving average is $156.58 and its 200 day moving average is $151.83.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, April 26th. The oil and gas company reported $2.93 EPS for the quarter, beating 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 company had revenue of $48.72 billion for the quarter, compared to analysts’ expectations of $48.42 billion. During the same period last year, the firm posted $3.55 earnings per share. Chevron’s revenue was down 4.1% compared to the same quarter last year. On average, sell-side analysts predict that Chevron Co. will post 13.58 EPS for the current year.

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 17th will be given a dividend of $1.63 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $6.52 annualized dividend and a dividend 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 the stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $160.09, for a total transaction of $448,252.00. Following the sale, the vice president now directly owns 276 shares of the company’s stock, valued at $44,184.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.18% of the stock is currently owned by 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.