Fort Washington Investment Advisors Inc. OH Reduces Stock Position in Chevron Corporation $CVX

Fort Washington Investment Advisors Inc. OH decreased its stake in shares of Chevron Corporation (NYSE:CVX) by 2.5% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 475,258 shares of the oil and gas company’s stock after selling 12,037 shares during the quarter. Fort Washington Investment Advisors Inc. OH’s holdings in Chevron were worth $73,803,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Kingstone Capital Partners Texas LLC raised its holdings in shares of Chevron by 652,139.5% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 83,714,936 shares of the oil and gas company’s stock worth $13,214,757,000 after acquiring an additional 83,702,101 shares during the period. Norges Bank acquired a new stake in Chevron during the second quarter worth about $2,721,477,000. Laurel Wealth Advisors LLC increased its position in Chevron by 14,194.2% during the second quarter. Laurel Wealth Advisors LLC now owns 3,722,217 shares of the oil and gas company’s stock worth $532,984,000 after purchasing an additional 3,696,177 shares during the last quarter. Berkshire Hathaway Inc raised its stake in Chevron by 2.9% during the second quarter. Berkshire Hathaway Inc now owns 122,064,792 shares of the oil and gas company’s stock worth $17,478,458,000 after purchasing an additional 3,454,258 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Chevron by 4.0% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 34,772,753 shares of the oil and gas company’s stock valued at $4,979,255,000 after purchasing an additional 1,342,723 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Stock Performance

NYSE CVX opened at $152.31 on Wednesday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.15 and a quick ratio of 0.86. The company has a market cap of $306.69 billion, a P/E ratio of 21.42, a P/E/G ratio of 9.06 and a beta of 0.68. The stock has a 50-day moving average of $152.01 and a two-hundred day moving average of $152.97. Chevron Corporation has a 1-year low of $132.04 and a 1-year high of $168.96.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, October 31st. The oil and gas company reported $1.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.71 by $0.14. The business had revenue of $48.17 billion for the quarter, compared to analysts’ expectations of $46.99 billion. Chevron had a net margin of 6.57% and a return on equity of 8.74%. The business’s quarterly revenue was down 1.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.48 earnings per share. As a group, analysts anticipate that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 10th. Shareholders of record on Tuesday, November 18th were paid a $1.71 dividend. The ex-dividend date was Tuesday, November 18th. This represents a $6.84 annualized dividend and a dividend yield of 4.5%. Chevron’s payout ratio is 96.20%.

Analyst Ratings Changes

CVX has been the subject of a number of recent analyst reports. Scotiabank raised their price target on shares of Chevron from $160.00 to $165.00 and gave the stock a “sector perform” rating in a report on Thursday, October 9th. Mizuho raised their target price on Chevron from $204.00 to $206.00 and gave the stock an “outperform” rating in a research note on Friday, December 12th. Hsbc Global Res upgraded Chevron from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 1st. UBS Group reiterated a “buy” rating on shares of Chevron in a report on Monday, December 1st. Finally, Bank of America cut their price objective on Chevron from $183.00 to $180.00 and set a “buy” rating for the company in a research report on Thursday, December 11th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, eight have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $166.00.

Insider Buying and Selling at Chevron

In other news, Director John B. Hess sold 275,000 shares of the stock in a transaction on Thursday, November 20th. The stock was sold at an average price of $150.75, for a total value of $41,456,250.00. Following the sale, the director directly owned 1,128,045 shares in the company, valued at approximately $170,052,783.75. This trade represents a 19.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.20% of the company’s stock.

About Chevron

Chevron Corporation (NYSE: CVX) is an American multinational energy company engaged in virtually all aspects of the oil and gas industry. As an integrated energy firm, Chevron’s core activities include upstream oil and natural gas exploration and production, midstream transportation and storage, downstream refining and marketing of fuels and lubricants, and petrochemical manufacturing through joint ventures and subsidiaries. The company markets fuels under brands such as Chevron, Texaco and Caltex and supplies a range of products and services to retail customers, industrial users and commercial fleets worldwide.

Chevron traces its corporate lineage to the early petroleum companies that eventually became Standard Oil of California and has evolved through significant mergers and restructurings, including the acquisitions of Gulf Oil and Texaco.