Fort Washington Investment Advisors Inc. OH Lowers Stock Holdings in Chevron Co. (NYSE:CVX)

Fort Washington Investment Advisors Inc. OH cut its stake in shares of Chevron Co. (NYSE:CVX) by 22.2% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 388,589 shares of the oil and gas company’s stock after selling 111,066 shares during the quarter. Fort Washington Investment Advisors Inc. OH’s holdings in Chevron were worth $60,783,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Pacifica Partners Inc. grew its position in Chevron by 1.8% in the first quarter. Pacifica Partners Inc. now owns 3,492 shares of the oil and gas company’s stock worth $546,000 after acquiring an additional 63 shares during the period. Private Wealth Management Group LLC grew its holdings in shares of Chevron by 15.7% during the 1st quarter. Private Wealth Management Group LLC now owns 464 shares of the oil and gas company’s stock worth $73,000 after purchasing an additional 63 shares during the period. Montz Harcus Wealth Management LLC increased its position in shares of Chevron by 2.2% during the 2nd quarter. Montz Harcus Wealth Management LLC now owns 2,943 shares of the oil and gas company’s stock worth $460,000 after purchasing an additional 63 shares during the last quarter. Hubbell Strickland Wealth Management LLC raised its holdings in Chevron by 0.7% in the 2nd quarter. Hubbell Strickland Wealth Management LLC now owns 9,493 shares of the oil and gas company’s stock valued at $1,485,000 after buying an additional 64 shares during the period. Finally, Ellenbecker Investment Group lifted its position in Chevron by 1.5% in the first quarter. Ellenbecker Investment Group now owns 4,346 shares of the oil and gas company’s stock valued at $686,000 after buying an additional 65 shares during the last quarter. Institutional investors own 72.42% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on CVX shares. Sanford C. Bernstein cut shares of Chevron from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $183.00 to $167.00 in a research report on Wednesday, July 17th. Scotiabank dropped their target price on shares of Chevron from $195.00 to $180.00 and set a “sector outperform” rating for the company in a report on Friday, July 12th. Truist Financial decreased their price target on Chevron from $156.00 to $154.00 and set a “hold” rating on the stock in a research note on Monday, August 5th. Barclays dropped their price objective on Chevron from $203.00 to $185.00 and set an “overweight” rating for the company in a research note on Tuesday, August 6th. Finally, Mizuho increased their target price on Chevron from $200.00 to $205.00 and gave the stock a “buy” rating in a research note on Monday, May 13th. Seven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $183.82.

Chevron Stock Up 0.3 %

NYSE:CVX traded up $0.45 during mid-day trading on Friday, hitting $147.87. The stock had a trading volume of 6,414,178 shares, compared to its average volume of 7,744,871. Chevron Co. has a twelve month low of $139.62 and a twelve month high of $171.70. The stock has a 50-day simple moving average of $152.42 and a two-hundred day simple moving average of $155.64. The company has a current ratio of 1.16, a quick ratio of 0.85 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $272.52 billion, a PE ratio of 13.60, a PEG ratio of 2.46 and a beta of 1.10.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.55 EPS for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). The firm had revenue of $51.18 billion during the quarter, compared to analysts’ expectations of $48.68 billion. Chevron had a net margin of 9.31% and a return on equity of 13.70%. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period in the prior year, the company posted $3.08 earnings per share. On average, equities research analysts anticipate that Chevron Co. will post 11.96 EPS for the current year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th will be issued a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 4.41%. The ex-dividend date is Monday, August 19th. Chevron’s dividend payout ratio (DPR) is 59.98%.

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.