Chevron Co. (NYSE:CVX) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. cut its stake in shares of Chevron Co. (NYSE:CVX - Free Report) by 1.0% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 1,500,178 shares of the oil and gas company's stock after selling 14,416 shares during the period. Victory Capital Management Inc. owned about 0.08% of Chevron worth $217,286,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the stock. Mainstream Capital Management LLC raised its position in Chevron by 2.2% during the fourth quarter. Mainstream Capital Management LLC now owns 5,958 shares of the oil and gas company's stock worth $863,000 after acquiring an additional 126 shares during the period. Alley Investment Management Company LLC raised its position in Chevron by 4.1% during the fourth quarter. Alley Investment Management Company LLC now owns 112,499 shares of the oil and gas company's stock worth $16,294,000 after acquiring an additional 4,467 shares during the period. Commerzbank Aktiengesellschaft FI grew its holdings in shares of Chevron by 383.7% during the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 519,200 shares of the oil and gas company's stock worth $75,201,000 after buying an additional 411,859 shares in the last quarter. Patten Group Inc. grew its holdings in shares of Chevron by 0.6% during the fourth quarter. Patten Group Inc. now owns 24,389 shares of the oil and gas company's stock worth $3,533,000 after buying an additional 144 shares in the last quarter. Finally, Scott & Selber Inc. grew its holdings in shares of Chevron by 1.2% during the fourth quarter. Scott & Selber Inc. now owns 13,451 shares of the oil and gas company's stock worth $1,948,000 after buying an additional 157 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CVX has been the subject of a number of research reports. Truist Financial dropped their target price on shares of Chevron from $164.00 to $160.00 and set a "hold" rating for the company in a report on Tuesday, February 4th. Piper Sandler dropped their target price on shares of Chevron from $184.00 to $173.00 and set an "overweight" rating for the company in a report on Thursday, December 19th. UBS Group dropped their price objective on shares of Chevron from $195.00 to $194.00 and set a "buy" rating for the company in a report on Monday, February 3rd. Barclays dropped their price objective on shares of Chevron from $174.00 to $171.00 and set an "overweight" rating for the company in a report on Wednesday, February 5th. Finally, DZ Bank raised shares of Chevron from a "hold" rating to a "buy" rating and set a $170.00 price objective for the company in a report on Tuesday, November 5th. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $174.13.

Insider Activity at Chevron

In related news, VP Jeff B. Gustavson sold 9,325 shares of the firm's stock in a transaction that occurred on Friday, February 7th. The shares were 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 of the company's stock, valued at $161,192.50. This trade represents a 89.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.20% of the stock is owned by corporate insiders.

Chevron Stock Down 0.7 %

Shares of CVX traded down $1.07 during mid-day trading on Wednesday, hitting $150.93. 9,287,527 shares of the company's stock were exchanged, compared to its average volume of 7,447,005. The company has a market cap of $265.73 billion, a price-to-earnings ratio of 15.53, a P/E/G ratio of 1.46 and a beta of 1.11. Chevron Co. has a fifty-two week low of $135.37 and a fifty-two week 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 stock's 50-day moving average is $153.65 and its 200-day moving average is $151.61.

Chevron (NYSE:CVX - Get Free Report) last issued its quarterly 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 return on equity of 11.44% and a net margin of 8.71%. During the same quarter last year, the firm posted $3.45 EPS. On average, sell-side analysts anticipate that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be given a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 4.53%. The ex-dividend date of this dividend is Friday, February 14th. This is a boost from Chevron's previous quarterly dividend of $1.63. Chevron's dividend payout ratio is currently 70.37%.

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.