Capital International Investors Reduces Stock Holdings in Chevron Co. (NYSE:CVX)

Capital International Investors lowered its stake in Chevron Co. (NYSE:CVX - Free Report) by 21.2% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 7,590,586 shares of the oil and gas company's stock after selling 2,036,698 shares during the quarter. Capital International Investors owned approximately 0.42% of Chevron worth $1,099,222,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently added to or reduced their stakes in the company. TFB Advisors LLC increased its stake in shares of Chevron by 2.4% in the fourth quarter. TFB Advisors LLC now owns 2,840 shares of the oil and gas company's stock valued at $411,000 after buying an additional 66 shares during the period. W.H. Cornerstone Investments Inc. boosted its position in Chevron by 1.4% during the fourth quarter. W.H. Cornerstone Investments Inc. now owns 4,672 shares of the oil and gas company's stock valued at $677,000 after acquiring an additional 66 shares during the last quarter. Parkside Financial Bank & Trust boosted its position in shares of Chevron by 0.4% during the 4th quarter. Parkside Financial Bank & Trust now owns 15,240 shares of the oil and gas company's stock valued at $2,207,000 after purchasing an additional 66 shares in the last quarter. Meridian Financial Partners LLC increased its holdings in Chevron by 0.5% in the fourth quarter. Meridian Financial Partners LLC now owns 13,416 shares of the oil and gas company's stock worth $1,943,000 after purchasing an additional 67 shares in the last quarter. Finally, Western Pacific Wealth Management LP boosted its holdings in shares of Chevron by 14.9% during the 4th quarter. Western Pacific Wealth Management LP now owns 517 shares of the oil and gas company's stock worth $75,000 after buying an additional 67 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Wells Fargo & Company reduced their price target on shares of Chevron from $184.00 to $173.00 and set an "overweight" rating for the company in a report on Tuesday, April 15th. Truist Financial decreased their price objective on Chevron from $164.00 to $160.00 and set a "hold" rating for the company in a report on Tuesday, February 4th. Raymond James reduced their price target on shares of Chevron from $180.00 to $175.00 and set an "outperform" rating for the company in a research report on Monday, February 3rd. UBS Group cut 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. Finally, Barclays decreased their price target on Chevron from $174.00 to $171.00 and set an "overweight" rating for the company in a report on Wednesday, February 5th. One analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $169.50.

Insider Buying and Selling at Chevron

In related news, VP Jeff B. Gustavson sold 9,325 shares of the company's stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $152.50, for a total value of $1,422,062.50. Following the sale, the vice president now owns 1,057 shares in the company, valued at $161,192.50. This represents a 89.82 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.20% of the company's stock.

Chevron Trading Up 2.9 %

Chevron stock traded up $3.83 during trading hours on Tuesday, reaching $137.56. The company had a trading volume of 2,317,315 shares, compared to its average volume of 7,913,545. The firm has a market cap of $242.20 billion, a price-to-earnings ratio of 14.17, a P/E/G ratio of 1.46 and a beta of 0.93. Chevron Co. has a 12-month low of $132.04 and a 12-month high of $168.96. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. The company has a 50-day moving average price of $153.12 and a 200 day moving average price of $153.33.

Chevron (NYSE:CVX - Get Free Report) last posted its earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.42 by ($0.36). Chevron had a net margin of 8.71% and a return on equity of 11.44%. During the same period in the previous year, the firm earned $3.45 EPS. Equities analysts forecast that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Friday, February 14th were paid a $1.71 dividend. This represents a $6.84 annualized dividend and a yield of 4.97%. This is a boost from Chevron's previous quarterly dividend of $1.63. The ex-dividend date was Friday, February 14th. Chevron's dividend payout ratio is presently 70.37%.

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.