Fifth Third Bancorp Decreases Holdings in Chevron Co. (NYSE:CVX)

Fifth Third Bancorp lessened its holdings in Chevron Co. (NYSE:CVX - Free Report) by 1.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 838,048 shares of the oil and gas company's stock after selling 12,745 shares during the quarter. Fifth Third Bancorp's holdings in Chevron were worth $140,197,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. IMG Wealth Management Inc. purchased a new stake in Chevron in the 4th quarter valued at approximately $25,000. Mizuho Securities Co. Ltd. purchased a new stake in Chevron in the 4th quarter valued at approximately $29,000. 10Elms LLP purchased a new stake in Chevron in the 4th quarter valued at approximately $29,000. Fairway Wealth LLC boosted its holdings in Chevron by 75.9% in the 4th quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company's stock valued at $30,000 after purchasing an additional 88 shares in the last quarter. Finally, IFS Advisors LLC boosted its holdings in Chevron by 119.6% in the 1st quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company's stock valued at $36,000 after purchasing an additional 116 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company's stock.

Analyst Ratings Changes

CVX has been the subject of a number of research reports. BNP Paribas downgraded shares of Chevron to a "cautious" rating in a research report on Tuesday, April 15th. Hsbc Global Res downgraded shares of Chevron from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 13th. TD Cowen reduced their price target on shares of Chevron from $155.00 to $150.00 and set a "hold" rating for the company in a research report on Monday, May 5th. Wells Fargo & Company reduced their price target on shares of Chevron from $173.00 to $164.00 and set an "overweight" rating for the company in a research report on Monday, May 5th. Finally, DZ Bank downgraded shares of Chevron from a "buy" rating to a "sell" rating and set a $130.00 price target for the company. in a research report on Tuesday, May 6th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $160.24.

Chevron Trading Up 0.5%

CVX stock traded up $0.77 during midday trading on Friday, hitting $145.74. The stock had a trading volume of 14,126,704 shares, compared to its average volume of 8,182,686. The firm has a market cap of $254.52 billion, a PE ratio of 14.99, a price-to-earnings-growth ratio of 1.46 and a beta of 0.83. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. Chevron Co. has a 12-month low of $132.04 and a 12-month high of $168.96. The company's 50-day moving average price is $138.53 and its 200 day moving average price is $149.11.

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

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th were paid a dividend of $1.71 per share. The ex-dividend date was Monday, May 19th. This represents a $6.84 annualized dividend and a dividend yield of 4.69%. Chevron's dividend payout ratio is presently 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.