Citizens Business Bank Has $4.80 Million Stock Holdings in Chevron Co. (NYSE:CVX)

Citizens Business Bank grew its position in shares of Chevron Co. (NYSE:CVX) by 3.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 29,180 shares of the oil and gas company’s stock after purchasing an additional 1,074 shares during the quarter. Chevron makes up 1.0% of Citizens Business Bank’s holdings, making the stock its 27th biggest holding. Citizens Business Bank’s holdings in Chevron were worth $4,800,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. Mayfair Advisory Group LLC boosted its stake in shares of Chevron by 0.7% during the first quarter. Mayfair Advisory Group LLC now owns 9,407 shares of the oil and gas company’s stock valued at $1,484,000 after purchasing an additional 65 shares in the last quarter. Financial Partners Group LLC lifted its stake in shares of Chevron by 3.6% in the first quarter. Financial Partners Group LLC now owns 34,001 shares of the oil and gas company’s stock worth $5,363,000 after acquiring an additional 1,167 shares during the period. Breakwater Capital Group lifted its stake in shares of Chevron by 3.4% in the first quarter. Breakwater Capital Group now owns 2,708 shares of the oil and gas company’s stock worth $427,000 after acquiring an additional 90 shares during the period. Optas LLC acquired a new position in shares of Chevron in the first quarter worth approximately $222,000. Finally, Clarity Wealth Advisors LLC lifted its stake in shares of Chevron by 2.9% in the first quarter. Clarity Wealth Advisors LLC now owns 4,195 shares of the oil and gas company’s stock worth $662,000 after acquiring an additional 119 shares during the period. 72.42% of the stock is owned by institutional investors and hedge funds.

Chevron Trading Up 0.1 %

NYSE CVX opened at $156.42 on Monday. The company has a market cap of $288.28 billion, a price-to-earnings ratio of 14.39, a P/E/G ratio of 2.38 and a beta of 1.10. Chevron Co. has a 52 week low of $139.62 and a 52 week high of $171.70. The business has a 50 day moving average price of $159.22 and a 200-day moving average price of $154.78. The company has a quick ratio of 0.93, a current ratio of 1.23 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, April 26th. The oil and gas company reported $2.93 EPS for the quarter, beating the consensus estimate of $2.84 by $0.09. The firm had revenue of $48.72 billion during the quarter, compared to the consensus estimate of $48.42 billion. Chevron had a return on equity of 14.40% and a net margin of 10.21%. The company’s quarterly revenue was down 4.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.55 earnings per share. As a group, equities analysts expect that Chevron Co. will post 13.15 earnings per share for the current fiscal year.

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Friday, May 17th were issued a dividend of $1.63 per share. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $6.52 annualized dividend and a yield of 4.17%. Chevron’s dividend payout ratio (DPR) is currently 59.98%.

Insider Buying and Selling

In related news, VP Alana K. Knowles sold 2,800 shares of the company’s stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $165.00, for a total transaction of $462,000.00. Following the completion of the sale, the vice president now owns 276 shares in the company, valued at $45,540. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, VP Alana K. Knowles sold 2,800 shares of the company’s stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $165.00, for a total transaction of $462,000.00. Following the completion of the sale, the vice president now owns 276 shares in the company, valued at $45,540. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Enrique Hernandez, Jr. sold 2,549 shares of the business’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $161.00, for a total value of $410,389.00. Following the completion of the transaction, the director now directly owns 7,647 shares in the company, valued at approximately $1,231,167. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 19,546 shares of company stock worth $3,176,223. 0.20% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts recently commented on CVX shares. UBS Group lifted their price objective on Chevron from $185.00 to $197.00 and gave the stock a “buy” rating in a research note on Tuesday, April 9th. Truist Financial lifted their price objective on Chevron from $156.00 to $166.00 and gave the stock a “hold” rating in a research note on Friday, May 10th. Barclays started coverage on Chevron in a research note on Wednesday, April 10th. They issued an “overweight” rating and a $203.00 price objective on the stock. Mizuho lifted their price objective on Chevron from $200.00 to $205.00 and gave the stock a “buy” rating in a research note on Monday, May 13th. Finally, The Goldman Sachs Group reiterated a “buy” rating on shares of Chevron in a report on Monday, April 1st. Five equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Chevron has a consensus rating of “Moderate Buy” and a consensus price target of $186.95.

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.