Chevron Co. (NYSE:CVX) Shares Sold by Advisors Asset Management Inc.

Advisors Asset Management Inc. reduced its stake in Chevron Co. (NYSE:CVX - Free Report) by 5.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 204,930 shares of the oil and gas company's stock after selling 10,778 shares during the period. Chevron accounts for about 0.6% of Advisors Asset Management Inc.'s holdings, making the stock its 23rd biggest position. Advisors Asset Management Inc.'s holdings in Chevron were worth $30,180,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Ameriprise Financial Inc. lifted its position in Chevron by 3.0% in the second quarter. Ameriprise Financial Inc. now owns 17,111,051 shares of the oil and gas company's stock valued at $2,676,957,000 after acquiring an additional 501,969 shares during the last quarter. Capital World Investors boosted its position in shares of Chevron by 3.2% in the 1st quarter. Capital World Investors now owns 16,009,766 shares of the oil and gas company's stock valued at $2,525,380,000 after purchasing an additional 495,879 shares during the period. Legal & General Group Plc increased its position in Chevron by 4.9% during the second quarter. Legal & General Group Plc now owns 13,570,971 shares of the oil and gas company's stock worth $2,122,772,000 after buying an additional 629,644 shares during the period. Capital International Investors lifted its stake in Chevron by 5.9% in the first quarter. Capital International Investors now owns 13,418,287 shares of the oil and gas company's stock valued at $2,116,600,000 after buying an additional 743,042 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Chevron by 1.0% in the second quarter. Dimensional Fund Advisors LP now owns 13,021,023 shares of the oil and gas company's stock valued at $2,036,846,000 after acquiring an additional 126,889 shares during the period. Institutional investors and hedge funds own 72.42% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on CVX. Wells Fargo & Company decreased their price target on shares of Chevron from $196.00 to $169.00 and set an "overweight" rating for the company in a research note on Friday, September 27th. Truist Financial increased their price objective on Chevron from $150.00 to $155.00 and gave the stock a "hold" rating in a research report on Monday, November 4th. Barclays increased their price target on Chevron from $168.00 to $174.00 and gave the stock an "overweight" rating in a report on Monday, November 4th. Royal Bank of Canada boosted their price target on shares of Chevron from $170.00 to $175.00 and gave the stock an "outperform" rating in a research note on Monday, November 4th. Finally, DZ Bank upgraded Chevron from a "hold" rating to a "buy" rating and set a $170.00 target price on the stock in a research report on Tuesday, November 5th. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $174.93.

Insider Activity

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of the stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the sale, the chief executive officer now directly owns 4,280 shares of the company's stock, valued at approximately $685,356.40. This represents a 97.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.20% of the company's stock.

Chevron Trading Up 1.1 %

Shares of CVX traded up $1.70 during trading hours on Wednesday, hitting $161.30. The stock had a trading volume of 6,390,683 shares, compared to its average volume of 7,651,631. The company's fifty day simple moving average is $150.23 and its 200 day simple moving average is $152.57. Chevron Co. has a 12-month low of $135.37 and a 12-month 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 firm has a market cap of $289.87 billion, a P/E ratio of 17.73, a P/E/G ratio of 3.63 and a beta of 1.09.

Chevron (NYSE:CVX - Get Free Report) last posted 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. The business had revenue of $50.67 billion during the quarter, compared to analyst estimates of $48.86 billion. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The company's revenue for the quarter was down 6.3% compared to the same quarter last year. During the same quarter last year, the firm earned $3.05 earnings per share. Equities research analysts forecast that Chevron Co. will post 10.55 EPS for the current fiscal year.

Chevron Dividend Announcement

The firm 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. The ex-dividend date is Monday, November 18th. This represents a $6.52 annualized dividend and a yield of 4.04%. Chevron's dividend payout ratio is presently 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.