MidWestOne Financial Group Inc. Decreases Position in Chevron Co. (NYSE:CVX)

MidWestOne Financial Group Inc. decreased its stake in Chevron Co. (NYSE:CVX) by 0.5% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 23,356 shares of the oil and gas company’s stock after selling 127 shares during the quarter. MidWestOne Financial Group Inc.’s holdings in Chevron were worth $3,383,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of CVX. Regent Peak Wealth Advisors LLC increased its stake in Chevron by 4.3% in the 4th quarter. Regent Peak Wealth Advisors LLC now owns 4,117 shares of the oil and gas company’s stock worth $596,000 after buying an additional 168 shares during the period. Capital & Planning LLC grew its stake in Chevron by 15.2% in the 4th quarter. Capital & Planning LLC now owns 1,678 shares of the oil and gas company’s stock worth $243,000 after acquiring an additional 222 shares in the last quarter. Client 1ST Advisory Group LLC bought a new position in Chevron in the 4th quarter worth about $659,000. Annex Advisory Services LLC increased its position in shares of Chevron by 19.0% during the fourth quarter. Annex Advisory Services LLC now owns 162,340 shares of the oil and gas company’s stock worth $23,513,000 after acquiring an additional 25,885 shares during the period. Finally, Ellsworth Advisors LLC raised its stake in shares of Chevron by 14.4% during the fourth quarter. Ellsworth Advisors LLC now owns 38,131 shares of the oil and gas company’s stock valued at $5,523,000 after acquiring an additional 4,807 shares in the last quarter. Institutional investors own 72.42% of the company’s stock.

Chevron Price Performance

Shares of CVX opened at $137.21 on Wednesday. The company has a 50 day moving average of $146.04 and a two-hundred day moving average of $151.61. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. Chevron Co. has a twelve month low of $132.04 and a twelve month high of $168.96. The company has a market cap of $239.62 billion, a price-to-earnings ratio of 14.12, a price-to-earnings-growth ratio of 1.46 and a beta of 0.83.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $2.18 EPS for the quarter, beating the consensus estimate of $2.15 by $0.03. Chevron had a return on equity of 11.44% and a net margin of 8.71%. The firm had revenue of $47.61 billion during the quarter, compared to analyst estimates of $49.05 billion. During the same quarter in the prior year, the business posted $2.93 EPS. The business’s revenue for the quarter was down 2.3% compared to the same quarter last year. As a group, analysts predict that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th will be issued a $1.71 dividend. This represents a $6.84 annualized dividend and a yield of 4.99%. The ex-dividend date of this dividend is Monday, May 19th. Chevron’s dividend payout ratio is presently 78.17%.

Analyst Ratings Changes

Several research firms have commented on CVX. Scotiabank downgraded Chevron from a “sector outperform” rating to a “sector perform” rating and reduced their price objective for the stock from $160.00 to $143.00 in a report on Friday, April 11th. Piper Sandler cut their price target on Chevron from $173.00 to $162.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 13th. Barclays downgraded Chevron from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $171.00 to $152.00 in a report on Wednesday, April 23rd. Redburn Atlantic reiterated a “sell” rating and set a $124.00 target price (down from $156.00) on shares of Chevron in a report on Wednesday, April 23rd. Finally, UBS Group cut their target price on shares of Chevron from $194.00 to $185.00 and set a “buy” rating on the stock in a research report on Monday, April 7th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, Chevron currently has an average rating of “Hold” and a consensus target price of $160.24.

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.