MML Investors Services LLC Has $75.41 Million Stock Holdings in Chevron Co. (NYSE:CVX)

MML Investors Services LLC trimmed its stake in shares of Chevron Co. (NYSE:CVX - Free Report) by 6.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 520,647 shares of the oil and gas company's stock after selling 37,431 shares during the quarter. MML Investors Services LLC's holdings in Chevron were worth $75,411,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of CVX. Life Planning Partners Inc bought a new position in Chevron in the 4th quarter valued at about $25,000. IMG Wealth Management Inc. bought a new position in Chevron in the fourth quarter valued at approximately $25,000. Mizuho Securities Co. Ltd. acquired a new position in Chevron during the fourth quarter valued at approximately $29,000. Fairway Wealth LLC raised its position in Chevron by 75.9% during the fourth quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company's stock valued at $30,000 after purchasing an additional 88 shares in the last quarter. Finally, New Wave Wealth Advisors LLC bought a new stake in Chevron during the fourth quarter worth $39,000. 72.42% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently commented on CVX shares. Royal Bank of Canada reissued an "outperform" rating and set a $175.00 price target on shares of Chevron in a report on Monday, February 3rd. Barclays downgraded Chevron from an "overweight" rating to an "equal weight" rating and lowered their target price for the stock from $171.00 to $152.00 in a research note on Wednesday. Redburn Atlantic restated a "sell" rating and issued a $124.00 price target (down from $156.00) on shares of Chevron in a research note on Wednesday. Scotiabank cut shares of Chevron from a "sector outperform" rating to a "sector perform" rating and lowered their price objective for the stock from $160.00 to $143.00 in a research report on Friday, April 11th. Finally, Truist Financial cut their target price on shares of Chevron from $164.00 to $160.00 and set a "hold" rating on the stock in a research report on Tuesday, February 4th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $165.71.

Chevron Trading Up 1.8 %

Chevron stock traded up $2.42 during mid-day trading on Thursday, hitting $139.10. 3,581,628 shares of the stock were exchanged, compared to its average volume of 8,919,282. The firm's fifty day simple moving average is $152.37 and its two-hundred day simple moving average is $153.10. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. Chevron Co. has a 12 month low of $132.04 and a 12 month high of $168.96. The stock has a market capitalization of $244.90 billion, a price-to-earnings ratio of 14.31, a PEG ratio of 1.46 and a beta of 0.93.

Chevron (NYSE:CVX - Get Free Report) last released 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 quarter last year, the business posted $3.45 earnings per share. Analysts forecast that Chevron Co. will post 10.79 EPS for the current year.

Chevron Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Friday, February 14th were given a dividend of $1.71 per share. This is a positive change from Chevron's previous quarterly dividend of $1.63. The ex-dividend date was Friday, February 14th. This represents a $6.84 annualized dividend and a dividend yield of 4.92%. Chevron's dividend payout ratio is presently 70.37%.

Insiders Place Their Bets

In other news, VP Jeff B. Gustavson sold 9,325 shares of the stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $152.50, for a total transaction of $1,422,062.50. Following the transaction, the vice president now owns 1,057 shares of the company's stock, valued at $161,192.50. This represents a 89.82 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.20% of the stock is currently owned by corporate insiders.

About Chevron

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.