Citizens Business Bank Has $4.38 Million Holdings in Chevron Co. (NYSE:CVX)

Citizens Business Bank trimmed its stake in shares of Chevron Co. (NYSE:CVX) by 17.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 28,106 shares of the oil and gas company’s stock after selling 5,976 shares during the period. Citizens Business Bank’s holdings in Chevron were worth $4,378,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Picton Mahoney Asset Management acquired a new position in Chevron during the 3rd quarter valued at about $26,000. Valley Forge Investment Consultants Inc. ADV raised its stake in shares of Chevron by 80.0% during the third quarter. Valley Forge Investment Consultants Inc. ADV now owns 180 shares of the oil and gas company’s stock worth $30,000 after buying an additional 80 shares during the last quarter. Valued Wealth Advisors LLC acquired a new position in Chevron in the fourth quarter valued at approximately $33,000. Legacy Financial Group LLC bought a new position in Chevron in the third quarter valued at approximately $43,000. Finally, Roble Belko & Company Inc grew its holdings in Chevron by 77.3% during the 4th quarter. Roble Belko & Company Inc now owns 344 shares of the oil and gas company’s stock worth $51,000 after acquiring an additional 150 shares during the period. 72.42% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Raymond James increased their price target on Chevron from $170.00 to $174.00 and gave the company an “outperform” rating in a research note on Monday, April 15th. DZ Bank lowered Chevron from a “buy” rating to a “hold” rating and set a $160.00 target price on the stock. in a research note on Tuesday, February 6th. Truist Financial decreased their target price on Chevron from $168.00 to $156.00 and set a “hold” rating for the company in a research report on Friday, April 5th. TD Cowen upped their price target on Chevron from $155.00 to $160.00 and gave the company a “hold” rating in a research note on Monday. Finally, Wells Fargo & Company lifted their price objective on shares of Chevron from $198.00 to $206.00 and gave the stock an “overweight” rating in a research note on Tuesday. Six research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $185.35.

Chevron Stock Down 3.0 %

Shares of Chevron stock traded down $5.06 during trading on Tuesday, reaching $161.27. The stock had a trading volume of 8,382,708 shares, compared to its average volume of 8,454,227. The company has a market capitalization of $299.52 billion, a price-to-earnings ratio of 15.07, a P/E/G ratio of 2.44 and a beta of 1.12. The stock has a fifty day moving average price of $156.81 and a two-hundred day moving average price of $151.70. The company has a current ratio of 1.27, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13. Chevron Co. has a 52 week low of $139.62 and a 52 week high of $171.70.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, April 26th. The oil and gas company reported $2.93 earnings per share for the quarter, topping the consensus estimate of $2.84 by $0.09. The company had revenue of $48.72 billion during the quarter, compared to analysts’ expectations of $48.42 billion. Chevron had a net margin of 10.21% and a return on equity of 14.38%. The business’s quarterly revenue was down 4.1% on a year-over-year basis. During the same period last year, the business earned $3.55 EPS. Sell-side analysts predict that Chevron Co. will post 13.58 EPS for the current fiscal year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Friday, May 17th will be paid a $1.63 dividend. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $6.52 annualized dividend and a yield of 4.04%. Chevron’s payout ratio is currently 59.98%.

Insiders Place Their Bets

In other Chevron news, VP Alana K. Knowles sold 2,800 shares of the firm’s stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $165.00, for a total value of $462,000.00. Following the completion of the transaction, the vice president now directly owns 276 shares in the company, valued at $45,540. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.20% of the company’s stock.

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.