Birmingham Capital Management Co. Inc. AL Has $7.36 Million Stock Position in Chevron Co. (NYSE:CVX)

Birmingham Capital Management Co. Inc. AL reduced its position in shares of Chevron Co. (NYSE:CVX) by 7.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 50,822 shares of the oil and gas company’s stock after selling 4,250 shares during the quarter. Chevron comprises 2.7% of Birmingham Capital Management Co. Inc. AL’s holdings, making the stock its 8th biggest position. Birmingham Capital Management Co. Inc. AL’s holdings in Chevron were worth $7,361,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CVX. Geode Capital Management LLC raised its position in shares of Chevron by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 36,269,270 shares of the oil and gas company’s stock valued at $5,247,142,000 after acquiring an additional 392,916 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Chevron by 2.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 31,855,566 shares of the oil and gas company’s stock valued at $4,613,960,000 after acquiring an additional 746,806 shares during the last quarter. Norges Bank bought a new stake in shares of Chevron during the 4th quarter valued at $3,017,750,000. Northern Trust Corp raised its position in shares of Chevron by 7.3% during the 4th quarter. Northern Trust Corp now owns 20,471,800 shares of the oil and gas company’s stock valued at $2,965,135,000 after acquiring an additional 1,394,091 shares during the last quarter. Finally, Fisher Asset Management LLC raised its position in shares of Chevron by 2.1% during the 4th quarter. Fisher Asset Management LLC now owns 19,892,848 shares of the oil and gas company’s stock valued at $2,881,280,000 after acquiring an additional 410,460 shares during the last quarter. 72.42% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Mizuho dropped their target price on shares of Chevron from $188.00 to $186.00 and set an “outperform” rating for the company in a research report on Tuesday, May 13th. Redburn Atlantic reaffirmed a “sell” rating and issued a $124.00 price target (down from $156.00) on shares of Chevron in a research note on Wednesday, April 23rd. DZ Bank cut Chevron from a “buy” rating to a “sell” rating and set a $130.00 price target for the company. in a research note on Tuesday, May 6th. Barclays cut Chevron from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $171.00 to $152.00 in a research note on Wednesday, April 23rd. Finally, UBS Group lowered their price target on Chevron from $194.00 to $185.00 and set a “buy” rating for the company in a research note on Monday, April 7th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $160.24.

Chevron Price Performance

NYSE CVX opened at $136.66 on Tuesday. The business has a 50 day simple moving average of $144.12 and a 200 day simple moving average of $151.03. Chevron Co. has a 52-week low of $132.04 and a 52-week high of $168.96. 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 cap of $238.66 billion, a price-to-earnings ratio of 14.06, a PEG ratio of 1.46 and a beta of 0.83.

Chevron (NYSE:CVX) last released its earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.15 by $0.03. The firm had revenue of $47.61 billion during the quarter, compared to analysts’ expectations of $49.05 billion. Chevron had a return on equity of 11.44% and a net margin of 8.71%. The company’s revenue was down 2.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.93 EPS. Analysts anticipate that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th will be issued a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 5.01%. The ex-dividend date is Monday, May 19th. Chevron’s dividend payout ratio (DPR) is presently 78.17%.

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.