Chevron Co. (NYSE:CVX) Shares Sold by Counterweight Ventures LLC

Counterweight Ventures LLC cut its stake in Chevron Co. (NYSE:CVX - Free Report) by 64.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,848 shares of the oil and gas company's stock after selling 10,651 shares during the quarter. Counterweight Ventures LLC's holdings in Chevron were worth $861,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. International Assets Investment Management LLC raised its position in shares of Chevron by 19,404.1% in the 3rd quarter. International Assets Investment Management LLC now owns 4,901,390 shares of the oil and gas company's stock valued at $7,218,280,000 after purchasing an additional 4,876,260 shares during the last quarter. Pathway Financial Advisers LLC raised its holdings in shares of Chevron by 15,750.1% in the third quarter. Pathway Financial Advisers LLC now owns 3,901,345 shares of the oil and gas company's stock worth $574,551,000 after buying an additional 3,876,731 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of Chevron by 55.5% during the second quarter. Massachusetts Financial Services Co. MA now owns 8,537,859 shares of the oil and gas company's stock worth $1,335,492,000 after buying an additional 3,048,819 shares during the period. Wulff Hansen & CO. grew its holdings in shares of Chevron by 15,542.0% during the second quarter. Wulff Hansen & CO. now owns 1,175,653 shares of the oil and gas company's stock valued at $183,896,000 after buying an additional 1,168,137 shares during the last quarter. Finally, Capital International Investors increased its position in shares of Chevron by 5.9% in the 1st 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 acquiring an additional 743,042 shares during the period. 72.42% of the stock is owned by institutional investors.

Insider Transactions at Chevron

In other news, CEO Michael K. Wirth sold 164,600 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the chief executive officer now owns 4,280 shares in the company, valued at $685,356.40. This trade represents a 97.47 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.20% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on CVX shares. DZ Bank upgraded Chevron from a "hold" rating to a "buy" rating and set a $170.00 price objective for the company in a research note on Tuesday, November 5th. Mizuho decreased their price objective on shares of Chevron from $205.00 to $189.00 and set an "outperform" rating for the company in a research note on Monday, September 16th. Royal Bank of Canada boosted their target price on shares of Chevron from $170.00 to $175.00 and gave the company an "outperform" rating in a research report on Monday, November 4th. Wells Fargo & Company decreased their price objective on Chevron from $196.00 to $169.00 and set an "overweight" rating for the company in a report on Friday, September 27th. Finally, Bank of America began coverage on Chevron in a report on Thursday, October 17th. They set a "buy" rating and a $168.00 target price on the stock. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, Chevron currently has an average rating of "Moderate Buy" and a consensus target price of $174.93.

Chevron Price Performance

Shares of CVX stock traded down $1.15 on Tuesday, reaching $159.61. 4,656,781 shares of the company were exchanged, compared to its average volume of 7,657,261. Chevron Co. has a 1 year low of $135.37 and a 1 year 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 business has a 50-day moving average price of $149.80 and a 200 day moving average price of $152.57. The company has a market cap of $286.83 billion, a price-to-earnings ratio of 17.52, a P/E/G ratio of 3.63 and a beta of 1.09.

Chevron (NYSE:CVX - Get Free Report) last announced its earnings results on Friday, November 1st. The oil and gas company reported $2.51 EPS for the quarter, beating analysts' consensus estimates of $2.47 by $0.04. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The business had revenue of $50.67 billion during the quarter, compared to analysts' expectations of $48.86 billion. During the same quarter in the prior year, the firm earned $3.05 earnings per share. The business's revenue was down 6.3% compared to the same quarter last year. Equities research analysts forecast that Chevron Co. will post 10.55 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th will be given a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.08%. The ex-dividend date is Monday, November 18th. Chevron's dividend payout ratio (DPR) is 71.65%.

Chevron Company 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.