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

Fmr LLC lessened its stake in shares of Chevron Co. (NYSE:CVX) by 6.4% during the third quarter, according to the company in its most recent 13F filing with the SEC. 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 owned about 0.20% of Chevron worth $527,913,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. Rational Advisors LLC purchased a new position in Chevron during the third quarter worth about $29,000. Darwin Wealth Management LLC acquired a new stake in shares of Chevron in the third quarter worth approximately $30,000. Anfield Capital Management LLC grew its holdings in Chevron by 118.0% in the second quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock valued at $34,000 after purchasing an additional 118 shares during the period. Cyrus J. Lawrence LLC increased its position in Chevron by 66.7% during the second quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock worth $39,000 after purchasing an additional 100 shares during the last quarter. Finally, Krane Funds Advisors LLC purchased a new position in Chevron during the third quarter worth approximately $47,000. 72.42% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Chevron

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of the stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 4,280 shares of the company’s stock, valued at $685,356.40. This trade represents a 97.47 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.20% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on CVX shares. Bank of America started coverage on Chevron in a report on Thursday, October 17th. They set a “buy” rating and a $168.00 price objective for the company. Wells Fargo & Company dropped their price target on Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a research note on Friday, September 27th. Scotiabank reduced their price objective on Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. Royal Bank of Canada increased their target price on shares of Chevron from $170.00 to $175.00 and gave the stock an “outperform” rating in a research report on Monday, November 4th. Finally, UBS Group raised their price target on shares of Chevron from $192.00 to $194.00 and gave the company a “buy” rating in a report on Monday, November 4th. Four equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $175.56.

Chevron Trading Down 0.1 %

NYSE:CVX opened at $161.98 on Friday. The stock has a market cap of $291.09 billion, a price-to-earnings ratio of 17.80, a price-to-earnings-growth ratio of 3.58 and a beta of 1.09. Chevron Co. has a one year low of $135.37 and a one year high of $167.11. 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 business’s 50-day simple moving average is $153.36 and its 200 day simple moving average is $152.61.

Chevron (NYSE:CVX) last announced its earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.47 by $0.04. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The company had revenue of $50.67 billion for the quarter, compared to analyst estimates of $48.86 billion. During the same period in the prior year, the company posted $3.05 EPS. Chevron’s quarterly revenue was down 6.3% on a year-over-year basis. As a group, sell-side analysts predict that Chevron Co. will post 10.53 earnings per share for the current fiscal year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th will be issued a dividend of $1.63 per share. 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 is currently 71.65%.

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.