Chevron Co. (NYSE:CVX) Shares Sold by Voya Investment Management LLC

Voya Investment Management LLC lowered its position in Chevron Co. (NYSE:CVX - Free Report) by 6.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,740,909 shares of the oil and gas company's stock after selling 175,592 shares during the quarter. Voya Investment Management LLC owned 0.15% of Chevron worth $396,882,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. McIlrath & Eck LLC grew its position in shares of Chevron by 5.8% during the third quarter. McIlrath & Eck LLC now owns 1,434 shares of the oil and gas company's stock worth $211,000 after buying an additional 78 shares in the last quarter. Westside Investment Management Inc. raised its stake in shares of Chevron by 9.0% in the 3rd quarter. Westside Investment Management Inc. now owns 3,405 shares of the oil and gas company's stock valued at $503,000 after purchasing an additional 281 shares in the last quarter. Diamant Asset Management Inc. lifted its position in shares of Chevron by 6.2% during the third quarter. Diamant Asset Management Inc. now owns 5,510 shares of the oil and gas company's stock worth $811,000 after purchasing an additional 320 shares during the last quarter. Wealthquest Corp increased its holdings in Chevron by 2.3% in the third quarter. Wealthquest Corp now owns 5,222 shares of the oil and gas company's stock valued at $782,000 after buying an additional 118 shares during the last quarter. Finally, Te Ahumairangi Investment Management Ltd lifted its holdings in Chevron by 4.5% during the 3rd quarter. Te Ahumairangi Investment Management Ltd now owns 22,219 shares of the oil and gas company's stock worth $3,254,000 after buying an additional 950 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

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

Chevron Stock Performance

CVX stock opened at $136.70 on Thursday. The stock has a market cap of $240.68 billion, a P/E ratio of 14.06, a P/E/G ratio of 1.46 and a beta of 0.93. 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 50 day simple moving average of $152.37 and a 200 day simple moving average of $153.10. Chevron Co. has a 52 week low of $132.04 and a 52 week high of $168.96.

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

Chevron Increases Dividend

The firm also recently disclosed 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 represents a $6.84 annualized dividend and a yield of 5.00%. The ex-dividend date of this dividend was Friday, February 14th. This is a positive change from Chevron's previous quarterly dividend of $1.63. Chevron's dividend payout ratio (DPR) is presently 70.37%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on CVX. Barclays lowered Chevron from an "overweight" rating to an "equal weight" rating and dropped their price target for the company from $171.00 to $152.00 in a research report on Wednesday. Scotiabank downgraded Chevron from a "sector outperform" rating to a "sector perform" rating and cut their price target for the stock from $160.00 to $143.00 in a report on Friday, April 11th. Raymond James cut their target price on Chevron from $180.00 to $175.00 and set an "outperform" rating on the stock in a research note on Monday, February 3rd. Wells Fargo & Company lowered their price target on shares of Chevron from $184.00 to $173.00 and set an "overweight" rating for the company in a research report on Tuesday, April 15th. Finally, BNP Paribas cut shares of Chevron to a "cautious" rating in a research report on Tuesday, April 15th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $165.71.

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.

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