Bahl & Gaynor Inc. Has $417.44 Million Holdings in Chevron Co. (NYSE:CVX)

Bahl & Gaynor Inc. reduced its holdings in Chevron Co. (NYSE:CVX - Free Report) by 1.1% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,668,679 shares of the oil and gas company's stock after selling 28,937 shares during the quarter. Chevron accounts for about 2.3% of Bahl & Gaynor Inc.'s investment portfolio, making the stock its 10th largest position. Bahl & Gaynor Inc. owned 0.14% of Chevron worth $417,435,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Berkshire Hathaway Inc boosted its holdings in shares of Chevron by 14.4% in the 4th quarter. Berkshire Hathaway Inc now owns 126,093,326 shares of the oil and gas company's stock worth $18,808,081,000 after purchasing an additional 15,845,037 shares in the last quarter. Norges Bank purchased a new position in shares of Chevron in the 4th quarter worth about $2,902,007,000. Bank of New York Mellon Corp boosted its holdings in shares of Chevron by 4.2% in the 1st quarter. Bank of New York Mellon Corp now owns 16,103,302 shares of the oil and gas company's stock worth $2,540,135,000 after purchasing an additional 654,482 shares in the last quarter. Capital World Investors boosted its holdings in shares of Chevron by 3.2% in the 1st quarter. Capital World Investors now owns 16,009,766 shares of the oil and gas company's stock worth $2,525,380,000 after purchasing an additional 495,879 shares in the last quarter. Finally, Franklin Resources Inc. boosted its holdings in shares of Chevron by 13.0% in the 4th quarter. Franklin Resources Inc. now owns 15,622,388 shares of the oil and gas company's stock worth $2,330,235,000 after purchasing an additional 1,797,171 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on CVX shares. Sanford C. Bernstein cut Chevron from an "outperform" rating to a "market perform" rating and cut their price objective for the stock from $183.00 to $167.00 in a report on Wednesday, July 17th. Truist Financial cut their price objective on Chevron from $156.00 to $154.00 and set a "hold" rating for the company in a report on Monday, August 5th. Scotiabank cut their price objective on Chevron from $195.00 to $180.00 and set a "sector outperform" rating for the company in a report on Friday, July 12th. Royal Bank of Canada dropped their target price on Chevron from $190.00 to $180.00 and set an "outperform" rating for the company in a report on Monday, August 5th. Finally, Barclays dropped their target price on Chevron from $203.00 to $185.00 and set an "overweight" rating for the company in a report on Tuesday, August 6th. Seven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $183.82.

Chevron Trading Down 0.3 %

NYSE CVX traded down $0.41 on Wednesday, hitting $137.82. The company's stock had a trading volume of 9,521,897 shares, compared to its average volume of 7,792,729. Chevron Co. has a 52-week low of $135.37 and a 52-week high of $171.70. The company has a current ratio of 1.16, a quick ratio of 0.85 and a debt-to-equity ratio of 0.13. The company's 50-day simple moving average is $150.13 and its 200 day simple moving average is $155.04. The firm has a market cap of $254.00 billion, a P/E ratio of 12.48, a PEG ratio of 2.34 and a beta of 1.09.

Chevron (NYSE:CVX - Get Free Report) last released its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share for the quarter, missing the consensus estimate of $2.93 by ($0.38). Chevron had a return on equity of 13.70% and a net margin of 9.31%. The business had revenue of $51.18 billion during the quarter, compared to analysts' expectations of $48.68 billion. During the same quarter last year, the business posted $3.08 EPS. The company's quarterly revenue was up 4.7% compared to the same quarter last year. Research analysts predict that Chevron Co. will post 11.86 EPS for the current fiscal year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were given a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 4.73%. The ex-dividend date of this dividend was Monday, August 19th. Chevron's dividend payout ratio is currently 59.98%.

Chevron 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.