Fifth Third Bancorp Has $156.66 Million Stock Position in Chevron Co. (NYSE:CVX)

Fifth Third Bancorp lowered its stake in shares of Chevron Co. (NYSE:CVX - Free Report) by 2.1% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 993,159 shares of the oil and gas company's stock after selling 21,139 shares during the quarter. Fifth Third Bancorp owned approximately 0.05% of Chevron worth $156,661,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CVX. Windsor Advisory Group LLC raised its holdings in Chevron by 24.0% during the 3rd quarter. Windsor Advisory Group LLC now owns 3,720 shares of the oil and gas company's stock worth $627,000 after purchasing an additional 720 shares during the last quarter. Renaissance Investment Group LLC raised its stake in shares of Chevron by 12.7% during the fourth quarter. Renaissance Investment Group LLC now owns 6,187 shares of the oil and gas company's stock worth $923,000 after buying an additional 697 shares during the last quarter. Altrius Capital Management Inc lifted its holdings in Chevron by 2.1% in the third quarter. Altrius Capital Management Inc now owns 21,333 shares of the oil and gas company's stock valued at $3,597,000 after buying an additional 434 shares during the period. Camelot Portfolios LLC bought a new position in Chevron in the fourth quarter valued at approximately $254,000. Finally, Kapstone Financial Advisors LLC grew its holdings in Chevron by 5.3% during the 4th quarter. Kapstone Financial Advisors LLC now owns 4,216 shares of the oil and gas company's stock worth $626,000 after acquiring an additional 211 shares during the period. Institutional investors and hedge funds own 72.42% of the company's stock.

Analyst Upgrades and Downgrades

CVX has been the topic of a number of analyst reports. Jefferies Financial Group raised Chevron from a "hold" rating to a "buy" rating and set a $184.00 price target on the stock in a research note on Monday, January 8th. Wells Fargo & Company raised their target price on Chevron from $198.00 to $206.00 and gave the stock an "overweight" rating in a report on Tuesday. Truist Financial lowered their price target on Chevron from $168.00 to $156.00 and set a "hold" rating for the company in a research note on Friday, April 5th. Raymond James lifted their price objective on shares of Chevron from $170.00 to $174.00 and gave the stock an "outperform" rating in a research note on Monday, April 15th. Finally, TD Cowen upped their target price on shares of Chevron from $155.00 to $160.00 and gave the company a "hold" rating in a research note on Monday. Six equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $185.35.

Insider Buying and Selling

In related news, VP Alana K. Knowles sold 2,800 shares of Chevron stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $160.09, for a total transaction of $448,252.00. Following the completion of the sale, the vice president now directly owns 276 shares of the company's stock, valued at approximately $44,184.84. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.20% of the stock is currently owned by insiders.

Chevron Stock Up 0.7 %

NYSE CVX traded up $1.10 during trading on Thursday, hitting $160.73. The stock had a trading volume of 8,572,483 shares, compared to its average volume of 8,447,272. The company has a market capitalization of $298.52 billion, a PE ratio of 14.79, a P/E/G ratio of 2.38 and a beta of 1.11. Chevron Co. has a 12 month low of $139.62 and a 12 month high of $171.70. The company's 50-day moving average price is $157.14 and its two-hundred day moving average price is $151.80. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.01 and a current ratio of 1.27.

Chevron (NYSE:CVX - Get Free Report) last announced its quarterly earnings data on Friday, April 26th. The oil and gas company reported $2.93 earnings per share for the quarter, beating the consensus estimate of $2.84 by $0.09. The company had revenue of $48.72 billion during the quarter, compared to analysts' expectations of $48.42 billion. Chevron had a return on equity of 14.38% and a net margin of 10.21%. Chevron's revenue for the quarter was down 4.1% compared to the same quarter last year. During the same quarter last year, the company earned $3.55 EPS. As a group, sell-side analysts forecast that Chevron Co. will post 13.53 EPS for the current year.

Chevron Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 17th will be paid a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.06%. The ex-dividend date is Thursday, May 16th. Chevron's dividend payout ratio is presently 59.98%.

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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