Citizens Business Bank Decreases Stock Holdings in Chevron Co. (NYSE:CVX)

Citizens Business Bank lowered its holdings in Chevron Co. (NYSE:CVX) by 1.0% in the 3rd quarter, Holdings Channel.com reports. The fund owned 30,040 shares of the oil and gas company’s stock after selling 315 shares during the quarter. Citizens Business Bank’s holdings in Chevron were worth $4,608,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in CVX. Legacy Investment Solutions LLC acquired a new position in Chevron during the 3rd quarter worth approximately $29,000. Rational Advisors LLC purchased a new stake in shares of Chevron during the third quarter valued at approximately $29,000. Darwin Wealth Management LLC acquired a new position in shares of Chevron during the third quarter worth $30,000. RPg Family Wealth Advisory LLC purchased a new position in shares of Chevron in the third quarter valued at $31,000. Finally, Anfield Capital Management LLC grew its holdings in Chevron by 118.0% during the 2nd quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock valued at $34,000 after purchasing an additional 118 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on CVX shares. Wells Fargo & Company boosted their price objective on shares of Chevron from $171.00 to $188.00 and gave the stock an “overweight” rating in a report on Monday. UBS Group lifted their target price on Chevron from $194.00 to $195.00 and gave the stock a “buy” rating in a research report on Tuesday, December 3rd. Mizuho reduced their price target on Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a report on Monday, September 16th. DZ Bank upgraded Chevron from a “hold” rating to a “buy” rating and set a $170.00 price objective on the stock in a report on Tuesday, November 5th. Finally, Scotiabank cut their target price on Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. Four investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, Chevron currently has an average rating of “Moderate Buy” and a consensus target price of $177.13.

Insider Buying and Selling

In other news, CEO Michael K. Wirth sold 164,600 shares of the business’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the completion of the transaction, the chief executive officer now owns 4,280 shares of the company’s stock, valued at approximately $685,356.40. The trade was a 97.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.20% of the stock is owned by company insiders.

Chevron Stock Down 0.0 %

Shares of NYSE:CVX opened at $157.07 on Wednesday. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $167.11. The company’s fifty day moving average is $154.97 and its two-hundred day moving average is $152.42. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. The stock has a market capitalization of $282.27 billion, a price-to-earnings ratio of 17.26, a price-to-earnings-growth ratio of 3.47 and a beta of 1.10.

Chevron (NYSE:CVX) last issued its earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.47 by $0.04. The firm had revenue of $50.67 billion for the quarter, compared to analysts’ expectations of $48.86 billion. Chevron had a net margin of 8.44% and a return on equity of 13.15%. Chevron’s revenue was down 6.3% on a year-over-year basis. During the same quarter last year, the company posted $3.05 earnings per share. Equities analysts anticipate that Chevron Co. will post 10.54 EPS for the current year.

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Monday, November 18th were given a dividend of $1.63 per share. The ex-dividend date was Monday, November 18th. This represents a $6.52 dividend on an annualized basis and a yield of 4.15%. Chevron’s dividend payout ratio is currently 71.65%.

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.