Chevron Co. (NYSE:CVX) is Birmingham Capital Management Co. Inc. AL's 8th Largest Position

Birmingham Capital Management Co. Inc. AL trimmed its holdings in Chevron Co. (NYSE:CVX - Free Report) by 7.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 50,822 shares of the oil and gas company's stock after selling 4,250 shares during the quarter. Chevron comprises about 2.7% of Birmingham Capital Management Co. Inc. AL's portfolio, making the stock its 8th biggest position. Birmingham Capital Management Co. Inc. AL's holdings in Chevron were worth $7,361,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Allianz SE acquired a new stake in shares of Chevron in the 4th quarter valued at about $9,369,000. Nicholas Company Inc. boosted its holdings in Chevron by 4.3% in the fourth quarter. Nicholas Company Inc. now owns 80,025 shares of the oil and gas company's stock worth $11,591,000 after acquiring an additional 3,280 shares in the last quarter. Applied Finance Capital Management LLC grew its stake in Chevron by 1.6% in the fourth quarter. Applied Finance Capital Management LLC now owns 179,815 shares of the oil and gas company's stock valued at $26,044,000 after acquiring an additional 2,755 shares during the period. Cerity Partners LLC increased its holdings in shares of Chevron by 4.5% during the fourth quarter. Cerity Partners LLC now owns 1,205,747 shares of the oil and gas company's stock valued at $174,817,000 after acquiring an additional 52,307 shares in the last quarter. Finally, Wedbush Securities Inc. raised its position in shares of Chevron by 6.8% during the fourth quarter. Wedbush Securities Inc. now owns 118,066 shares of the oil and gas company's stock worth $17,101,000 after purchasing an additional 7,557 shares during the period. Institutional investors own 72.42% of the company's stock.

Analyst Upgrades and Downgrades

CVX has been the subject of a number of recent research reports. Royal Bank of Canada restated an "outperform" rating and set a $175.00 price target on shares of Chevron in a research note on Monday, February 3rd. Mizuho decreased their target price on shares of Chevron from $188.00 to $186.00 and set an "outperform" rating for the company in a research report on Tuesday, May 13th. Raymond James lowered their target price on shares of Chevron from $180.00 to $175.00 and set an "outperform" rating on the stock in a report on Monday, February 3rd. BNP Paribas downgraded Chevron to a "cautious" rating in a research note on Tuesday, April 15th. Finally, Hsbc Global Res downgraded Chevron from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 13th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $160.24.

Chevron Stock Performance

NYSE:CVX traded down $1.13 during trading on Friday, reaching $136.78. The company's stock had a trading volume of 4,994,020 shares, compared to its average volume of 8,077,988. Chevron Co. has a 12 month low of $132.04 and a 12 month high of $168.96. The firm has a market cap of $238.88 billion, a price-to-earnings ratio of 14.07, a price-to-earnings-growth ratio of 1.46 and a beta of 0.83. The firm has a 50 day moving average of $142.47 and a 200-day moving average of $150.70. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07.

Chevron (NYSE:CVX - Get Free Report) last posted its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share for the quarter, beating the consensus estimate of $2.15 by $0.03. Chevron had a net margin of 8.71% and a return on equity of 11.44%. The company had revenue of $47.61 billion during the quarter, compared to analyst estimates of $49.05 billion. During the same quarter in the prior year, the business earned $2.93 earnings per share. The firm's revenue for the quarter was down 2.3% on a year-over-year basis. Research analysts expect that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th will be paid a dividend of $1.71 per share. The ex-dividend date of this dividend is Monday, May 19th. This represents a $6.84 annualized dividend and a dividend yield of 5.00%. Chevron's payout ratio is 78.17%.

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.