Chevron Co. (NYSE:CVX) Shares Sold by Fmr LLC

Fmr LLC reduced its stake in Chevron Co. (NYSE:CVX) by 6.4% in the third quarter, HoldingsChannel.com reports. The fund owned 3,584,663 shares of the oil and gas company’s stock after selling 245,666 shares during the quarter. Fmr LLC’s holdings in Chevron were worth $527,913,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently made changes to their positions in the stock. International Assets Investment Management LLC increased its stake in Chevron by 19,404.1% during the 3rd quarter. International Assets Investment Management LLC now owns 4,901,390 shares of the oil and gas company’s stock valued at $7,218,280,000 after buying an additional 4,876,260 shares during the period. Pathway Financial Advisers LLC raised its holdings in Chevron by 15,750.1% during the third quarter. Pathway Financial Advisers LLC now owns 3,901,345 shares of the oil and gas company’s stock worth $574,551,000 after purchasing an additional 3,876,731 shares in the last quarter. Pacer Advisors Inc. boosted its stake in Chevron by 949.6% during the 3rd quarter. Pacer Advisors Inc. now owns 3,819,963 shares of the oil and gas company’s stock valued at $562,566,000 after purchasing an additional 3,456,008 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Chevron by 11.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 31,108,760 shares of the oil and gas company’s stock valued at $4,581,137,000 after purchasing an additional 3,203,899 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its position in shares of Chevron by 55.5% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 8,537,859 shares of the oil and gas company’s stock valued at $1,335,492,000 after acquiring an additional 3,048,819 shares during the last quarter. 72.42% of the stock is owned by institutional investors.

Insiders Place Their Bets

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

Chevron Stock Performance

Shares of NYSE:CVX opened at $161.98 on Friday. The business has a fifty day moving average of $153.36 and a 200-day moving average of $152.61. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $167.11. The firm has a market cap of $291.09 billion, a PE ratio of 17.80, a price-to-earnings-growth ratio of 3.58 and a beta of 1.09.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, beating the consensus estimate of $2.47 by $0.04. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The firm had revenue of $50.67 billion during the quarter, compared to analysts’ expectations of $48.86 billion. During the same quarter last year, the company posted $3.05 EPS. The company’s quarterly revenue was down 6.3% compared to the same quarter last year. On average, equities research analysts predict that Chevron Co. will post 10.53 EPS for the current fiscal year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 18th will be given a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 4.03%. The ex-dividend date is Monday, November 18th. Chevron’s dividend payout ratio (DPR) is presently 71.65%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Wells Fargo & Company dropped their price target on Chevron from $196.00 to $169.00 and set an “overweight” rating on the stock in a research report on Friday, September 27th. Truist Financial boosted their price target on shares of Chevron from $150.00 to $155.00 and gave the company a “hold” rating in a report on Monday, November 4th. Royal Bank of Canada increased their price objective on Chevron from $170.00 to $175.00 and gave the stock an “outperform” rating in a report on Monday, November 4th. Citigroup raised Chevron from a “neutral” rating to a “buy” rating and boosted their price target for the company from $145.00 to $185.00 in a research note on Tuesday. Finally, Bank of America started coverage on Chevron in a research report on Thursday, October 17th. They set a “buy” rating and a $168.00 target price for the company. Four investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $175.56.

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.