Bahl & Gaynor Inc. Buys 23,178 Shares of Chevron Corporation $CVX

Bahl & Gaynor Inc. raised its stake in Chevron Corporation (NYSE:CVX) by 1.0% during the third quarter, HoldingsChannel.com reports. The fund owned 2,263,166 shares of the oil and gas company’s stock after acquiring an additional 23,178 shares during the quarter. Chevron accounts for about 1.7% of Bahl & Gaynor Inc.’s holdings, making the stock its 13th largest position. Bahl & Gaynor Inc.’s holdings in Chevron were worth $351,447,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of Chevron by 17.9% in the 3rd quarter. Vanguard Group Inc. now owns 183,790,028 shares of the oil and gas company’s stock worth $28,540,753,000 after purchasing an additional 27,961,463 shares during the last quarter. Berkshire Hathaway Inc grew 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 buying an additional 3,454,258 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Chevron by 4.0% during the second quarter. Charles Schwab Investment Management Inc. now owns 34,772,753 shares of the oil and gas company’s stock worth $4,979,255,000 after buying an additional 1,342,723 shares in the last quarter. Fisher Asset Management LLC raised its stake in shares of Chevron by 1.9% in the second quarter. Fisher Asset Management LLC now owns 20,826,805 shares of the oil and gas company’s stock valued at $2,982,190,000 after acquiring an additional 378,936 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Chevron by 27.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 19,627,146 shares of the oil and gas company’s stock worth $3,047,900,000 after acquiring an additional 4,279,918 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Key Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Berkshire Hathaway has shifted its portfolio after Buffett’s exit and added to its Chevron stake, a high-profile institutional buyer that can support the stock and signal confidence to other investors. Berkshire Hathaway Shifts As Buffett Exits And Abel Faces New Tests
• Positive Sentiment: Coverage from The Motley Fool and other outlets remains bullish on CVX’s upside (including $200 targets) and highlights its attractive yield, which attracts income-focused investors. Is Chevron Stock Going to $200?
• Positive Sentiment: Jim Cramer publicly recommended holding Chevron, calling it a stock that can run higher and highlighting its 3.85% yield — media endorsements can lift retail demand. Jim Cramer on Chevron: “I Would Hold on to That”
• Neutral Sentiment: Macro/sector story: U.S. actions in Venezuela have strengthened Guyana’s oil future, a geopolitical development that supports long-term offshore oil investment and is generally positive for major oil companies’ sector outlook (indirect for Chevron). How America’s Action in Venezuela Guaranteed Guyana’s Oil Future
• Neutral Sentiment: Investor interest in dividend stocks/ETFs (multiple roundup pieces) increases demand for high-yield names like Chevron, but these are broader flows rather than company-specific catalysts. Got $10,000? Put It in These Dividend ETFs Now
• Negative Sentiment: A recent DCF-based intrinsic-value write-up estimates Chevron is overvalued by ~30% (intrinsic value ~$126), a valuation critique that could limit upside or trigger profit-taking among value-focused funds. Our Calculation Of Intrinsic Value: Chevron Corporation

Chevron Stock Performance

Chevron stock opened at $186.47 on Monday. The company has a market cap of $372.07 billion, a PE ratio of 28.00, a PEG ratio of 12.36 and a beta of 0.67. The company has a current ratio of 1.15, a quick ratio of 0.86 and a debt-to-equity ratio of 0.21. Chevron Corporation has a 1 year low of $132.04 and a 1 year high of $187.90. The company’s 50-day moving average is $169.52 and its two-hundred day moving average is $159.64.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, January 30th. The oil and gas company reported $1.52 earnings per share for the quarter, beating the consensus estimate of $1.44 by $0.08. Chevron had a net margin of 6.51% and a return on equity of 7.89%. The business had revenue of $45.79 billion for the quarter, compared to analyst estimates of $48.18 billion. During the same period in the prior year, the business posted $2.06 earnings per share. Chevron’s revenue was down 10.2% compared to the same quarter last year. Equities analysts anticipate that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 10th. Stockholders of record on Tuesday, February 17th will be given a $1.78 dividend. The ex-dividend date is Tuesday, February 17th. This represents a $7.12 annualized dividend and a dividend yield of 3.8%. This is an increase from Chevron’s previous quarterly dividend of $1.71. Chevron’s dividend payout ratio is 106.91%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Sanford C. Bernstein increased their price target on Chevron from $170.00 to $172.00 and gave the stock a “market perform” rating in a research report on Monday, January 5th. Wall Street Zen upgraded Chevron from a “sell” rating to a “hold” rating in a research note on Saturday, January 31st. Jefferies Financial Group upped their price target on shares of Chevron from $174.00 to $189.00 and gave the stock a “buy” rating in a research report on Wednesday, January 14th. Zacks Research upgraded shares of Chevron from a “strong sell” rating to a “hold” rating in a research report on Tuesday, December 23rd. Finally, Barclays boosted their target price on shares of Chevron from $158.00 to $166.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 21st. Thirteen investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $176.36.

Insider Buying and Selling at Chevron

In other news, Vice Chairman Mark A. Nelson sold 45,800 shares of the business’s stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $174.17, for a total transaction of $7,976,986.00. Following the completion of the transaction, the insider directly owned 7,161 shares in the company, valued at approximately $1,247,231.37. The trade was a 86.48% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Alana K. Knowles sold 2,408 shares of the stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $183.28, for a total transaction of $441,338.24. The disclosure for this sale is available in the SEC filing. Insiders sold 534,898 shares of company stock valued at $89,543,711 over the last quarter. 0.20% of the stock is owned by corporate insiders.

Chevron Company Profile

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.