Eagle Asset Management Inc. Has $198.42 Million Stock Holdings in Chevron Co. (NYSE:CVX)

Eagle Asset Management Inc. lowered its stake in shares of Chevron Co. (NYSE:CVX - Free Report) by 3.6% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,264,374 shares of the oil and gas company's stock after selling 47,292 shares during the period. Chevron accounts for 1.1% of Eagle Asset Management Inc.'s holdings, making the stock its 10th biggest position. Eagle Asset Management Inc. owned about 0.07% of Chevron worth $198,418,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently made changes to their positions in the stock. Marietta Wealth Management LLC increased its stake in shares of Chevron by 10.9% during the 3rd quarter. Marietta Wealth Management LLC now owns 40,484 shares of the oil and gas company's stock worth $5,962,000 after purchasing an additional 3,965 shares during the last quarter. Leo Wealth LLC increased its position in Chevron by 19.6% during the third quarter. Leo Wealth LLC now owns 8,246 shares of the oil and gas company's stock worth $1,214,000 after buying an additional 1,354 shares during the last quarter. RPG Investment Advisory LLC lifted its position in shares of Chevron by 3.4% in the third quarter. RPG Investment Advisory LLC now owns 121,167 shares of the oil and gas company's stock valued at $17,844,000 after buying an additional 3,933 shares during the last quarter. Garner Asset Management Corp boosted its stake in shares of Chevron by 14.5% during the 2nd quarter. Garner Asset Management Corp now owns 19,997 shares of the oil and gas company's stock worth $3,128,000 after acquiring an additional 2,530 shares during the period. Finally, Cantor Fitzgerald Investment Advisors L.P. boosted its stake in shares of Chevron by 3.2% during the 3rd quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 114,961 shares of the oil and gas company's stock worth $16,930,000 after acquiring an additional 3,561 shares during the period. Institutional investors and hedge funds own 72.42% of the company's stock.

Chevron Price Performance

Chevron stock traded up $0.21 during trading hours on Friday, reaching $161.84. 2,192,905 shares of the stock were exchanged, compared to its average volume of 7,628,885. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $167.11. The company has a market cap of $290.84 billion, a P/E ratio of 17.74, a price-to-earnings-growth ratio of 3.59 and a beta of 1.09. The stock has a 50 day moving average of $151.14 and a two-hundred day moving average of $152.69.

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

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders 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 yield of 4.03%. The ex-dividend date of this dividend is Monday, November 18th. Chevron's dividend payout ratio is presently 71.65%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Bank of America assumed coverage on Chevron in a report on Thursday, October 17th. They set a "buy" rating and a $168.00 price target for the company. Scotiabank cut their target price on shares of Chevron from $180.00 to $163.00 and set a "sector outperform" rating for the company in a research note on Thursday, October 10th. Truist Financial lifted their target price on shares of Chevron from $150.00 to $155.00 and gave the stock a "hold" rating in a report on Monday, November 4th. Mizuho lowered their price target on shares of Chevron from $205.00 to $189.00 and set an "outperform" rating on the stock in a report on Monday, September 16th. Finally, UBS Group boosted their price objective on Chevron from $192.00 to $194.00 and gave the stock a "buy" rating in a report on Monday, November 4th. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, Chevron has a consensus rating of "Moderate Buy" and a consensus target price of $174.93.

Insiders Place Their Bets

In other news, CEO Michael K. Wirth sold 164,600 shares of the company's stock in a transaction 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 transaction, the chief executive officer now directly owns 4,280 shares in the company, valued at approximately $685,356.40. This represents a 97.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.20% of the company's stock.

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.