Wesbanco Bank Inc. Sells 5,841 Shares of Chevron Co. (NYSE:CVX)

Wesbanco Bank Inc. trimmed its position in Chevron Co. (NYSE:CVX - Free Report) by 2.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 231,419 shares of the oil and gas company's stock after selling 5,841 shares during the quarter. Chevron accounts for 1.3% of Wesbanco Bank Inc.'s holdings, making the stock its 12th largest holding. Wesbanco Bank Inc.'s holdings in Chevron were worth $38,714,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. IMG Wealth Management Inc. purchased a new stake in Chevron during the fourth quarter worth $25,000. Mizuho Securities Co. Ltd. bought a new position in shares of Chevron in the 4th quarter worth $29,000. 10Elms LLP purchased a new stake in shares of Chevron during the 4th quarter worth $29,000. Fairway Wealth LLC lifted its stake in shares of Chevron by 75.9% during the 4th quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company's stock worth $30,000 after purchasing an additional 88 shares during the last quarter. Finally, IFS Advisors LLC boosted its position in Chevron by 119.6% during the first 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. Institutional investors own 72.42% of the company's stock.

Chevron Stock Performance

Shares of CVX stock opened at $140.21 on Monday. Chevron Co. has a 52-week low of $132.04 and a 52-week high of $168.96. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. The stock has a market cap of $244.86 billion, a PE ratio of 14.42, a price-to-earnings-growth ratio of 1.46 and a beta of 0.83. The business has a 50-day simple moving average of $138.98 and a 200-day simple moving average of $149.65.

Chevron (NYSE:CVX - Get Free Report) last released its quarterly earnings data 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. Chevron had a return on equity of 11.44% and a net margin of 8.71%. The business had revenue of $47.61 billion for the quarter, compared to analyst estimates of $49.05 billion. During the same quarter in the prior year, the firm posted $2.93 EPS. The business's quarterly revenue was down 2.3% compared to the same quarter last year. On average, equities analysts expect that Chevron Co. will post 10.79 EPS for the current year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Monday, May 19th will be issued a $1.71 dividend. The ex-dividend date is Monday, May 19th. This represents a $6.84 dividend on an annualized basis and a yield of 4.88%. Chevron's payout ratio is 78.17%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Piper Sandler reduced their target price on shares of Chevron from $173.00 to $162.00 and set an "overweight" rating for the company in a report on Tuesday, May 13th. Mizuho reduced their price objective on shares of Chevron from $188.00 to $186.00 and set an "outperform" rating for the company in a research note on Tuesday, May 13th. TD Cowen decreased their target price 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. DZ Bank downgraded shares of Chevron from a "buy" rating to a "sell" rating and set a $130.00 target price for the company. in a research note on Tuesday, May 6th. Finally, Barclays downgraded Chevron from an "overweight" rating to an "equal weight" rating and reduced their price target for the stock from $171.00 to $152.00 in a research report on Wednesday, April 23rd. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $160.24.

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.

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