Fifth Third Wealth Advisors LLC Has $6.47 Million Position in Chevron Co. (NYSE:CVX)

Fifth Third Wealth Advisors LLC raised its stake in Chevron Co. (NYSE:CVX - Free Report) by 16.1% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 38,645 shares of the oil and gas company's stock after buying an additional 5,372 shares during the period. Fifth Third Wealth Advisors LLC's holdings in Chevron were worth $6,465,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of CVX. Norges Bank acquired a new stake in Chevron during the 4th quarter valued at $3,017,750,000. Raymond James Financial Inc. acquired a new stake in Chevron during the 4th quarter valued at $1,036,302,000. GAMMA Investing LLC raised its stake in Chevron by 21,191.5% during the 1st quarter. GAMMA Investing LLC now owns 5,408,248 shares of the oil and gas company's stock valued at $904,746,000 after purchasing an additional 5,382,847 shares during the period. Bank of New York Mellon Corp raised its stake in Chevron by 17.3% during the 4th quarter. Bank of New York Mellon Corp now owns 16,496,687 shares of the oil and gas company's stock valued at $2,389,380,000 after purchasing an additional 2,432,756 shares during the period. Finally, Amundi raised its stake in Chevron by 27.7% during the 4th quarter. Amundi now owns 8,806,050 shares of the oil and gas company's stock valued at $1,323,549,000 after purchasing an additional 1,910,262 shares during the period. Institutional investors own 72.42% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on CVX. TD Cowen cut their target price on shares of Chevron from $155.00 to $150.00 and set a "hold" rating on the stock in a research note on Monday, May 5th. UBS Group lowered their price target on shares of Chevron from $194.00 to $185.00 and set a "buy" rating on the stock in a report on Monday, April 7th. Royal Bank of Canada restated an "outperform" rating and set a $175.00 price target on shares of Chevron in a report on Monday, February 3rd. Scotiabank cut shares of Chevron from a "sector outperform" rating to a "sector perform" rating and lowered their price target for the company from $160.00 to $143.00 in a report on Friday, April 11th. Finally, Redburn Atlantic restated a "sell" rating and set a $124.00 price target (down from $156.00) on shares of Chevron in a report on Wednesday, April 23rd. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $160.24.

Chevron Stock Up 0.8%

NYSE:CVX traded up $1.10 during trading hours on Monday, reaching $137.80. The company's stock had a trading volume of 9,074,640 shares, compared to its average volume of 8,109,898. The company has a market cap of $240.64 billion, a price-to-earnings ratio of 14.18, a price-to-earnings-growth ratio of 1.46 and a beta of 0.83. The business's 50-day moving average is $141.88 and its 200-day moving average is $150.44. Chevron Co. has a one year low of $132.04 and a one year high of $168.96. 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 (NYSE:CVX - Get Free Report) last released its earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.15 by $0.03. Chevron had a return on equity of 11.44% and a net margin of 8.71%. The firm had revenue of $47.61 billion for the quarter, compared to analyst estimates of $49.05 billion. During the same quarter last year, the firm posted $2.93 EPS. The company's revenue was down 2.3% on a year-over-year basis. Equities research analysts predict that Chevron Co. will post 10.79 EPS for the current year.

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Monday, May 19th will be given a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 4.96%. The ex-dividend date is Monday, May 19th. Chevron's dividend payout ratio (DPR) is currently 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.