Fort Washington Investment Advisors Inc. OH Purchases 70,831 Shares of Chevron Co. (NYSE:CVX)

Fort Washington Investment Advisors Inc. OH lifted its position in Chevron Co. (NYSE:CVX) by 16.3% during the fourth quarter, Holdings Channel reports. The institutional investor owned 506,134 shares of the oil and gas company’s stock after buying an additional 70,831 shares during the quarter. Fort Washington Investment Advisors Inc. OH’s holdings in Chevron were worth $73,308,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. State Street Corp grew its stake in shares of Chevron by 0.6% during 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 acquiring an additional 874,962 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Chevron by 11.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 31,108,760 shares of the oil and gas company’s stock worth $4,581,137,000 after purchasing an additional 3,203,899 shares in the last quarter. Fisher Asset Management LLC grew its position in Chevron by 3.6% during the 3rd quarter. Fisher Asset Management LLC now owns 19,482,388 shares of the oil and gas company’s stock worth $2,869,171,000 after purchasing an additional 672,244 shares during the last quarter. Franklin Resources Inc. increased its stake in Chevron by 3.4% during the 3rd quarter. Franklin Resources Inc. now owns 17,200,188 shares of the oil and gas company’s stock valued at $2,610,645,000 after purchasing an additional 573,218 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its holdings in shares of Chevron by 3.0% in the second quarter. Ameriprise Financial Inc. now owns 17,111,051 shares of the oil and gas company’s stock worth $2,676,957,000 after buying an additional 501,969 shares during the last quarter. Institutional investors own 72.42% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Citigroup raised Chevron from a “neutral” rating to a “buy” rating and upped their target price for the company from $145.00 to $185.00 in a research report on Tuesday, November 26th. Scotiabank cut their price objective on Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Piper Sandler dropped their target price on Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. Bank of America initiated coverage on shares of Chevron in a research report on Thursday, October 17th. They set a “buy” rating and a $168.00 price target for the company. Finally, DZ Bank raised 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. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $175.27.

Insider Activity at Chevron

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of the stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the completion of the transaction, the chief executive officer now owns 4,280 shares of the company’s stock, valued at $685,356.40. This represents a 97.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.20% of the stock is currently owned by corporate insiders.

Chevron Price Performance

Shares of Chevron stock opened at $156.39 on Thursday. The firm has a market cap of $281.05 billion, a PE ratio of 17.19, a P/E/G ratio of 1.45 and a beta of 1.12. The business has a 50-day moving average price of $154.09 and a 200 day moving average price of $151.07. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $167.11.

Chevron (NYSE:CVX) last announced its earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.47 by $0.04. The firm had revenue of $50.67 billion for the quarter, compared to analyst estimates of $48.86 billion. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The business’s revenue was down 6.3% on a year-over-year basis. During the same quarter last year, the firm posted $3.05 EPS. Sell-side analysts predict that Chevron Co. will post 10.18 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th were paid a dividend of $1.63 per share. The ex-dividend date of this dividend was Monday, November 18th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.17%. Chevron’s dividend payout ratio is currently 71.65%.

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.