Chevron Co. (NYSE:CVX) Shares Sold by Fidelity National Financial Inc.

Fidelity National Financial Inc. reduced its stake in Chevron Co. (NYSE:CVX - Free Report) by 1.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 170,000 shares of the oil and gas company's stock after selling 2,000 shares during the period. Chevron accounts for about 0.5% of Fidelity National Financial Inc.'s investment portfolio, making the stock its 8th biggest holding. Fidelity National Financial Inc.'s holdings in Chevron were worth $24,623,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently made changes to their positions in CVX. Norges Bank bought a new position in Chevron in the 4th quarter worth approximately $3,017,750,000. Raymond James Financial Inc. acquired a new position in Chevron during the 4th quarter worth $1,036,302,000. Bank of New York Mellon Corp grew its stake in shares of Chevron by 17.3% in the fourth quarter. Bank of New York Mellon Corp now owns 16,496,687 shares of the oil and gas company's stock worth $2,389,380,000 after purchasing an additional 2,432,756 shares in the last quarter. Amundi increased its holdings in shares of Chevron by 27.7% during the fourth quarter. Amundi now owns 8,806,050 shares of the oil and gas company's stock valued at $1,323,549,000 after purchasing an additional 1,910,262 shares during the period. Finally, Invesco Ltd. raised its stake in shares of Chevron by 6.9% during the fourth quarter. Invesco Ltd. now owns 15,027,474 shares of the oil and gas company's stock valued at $2,176,579,000 after purchasing an additional 964,426 shares in the last quarter. 72.42% of the stock is owned by institutional investors.

Chevron Stock Down 0.6 %

NYSE:CVX traded down $0.80 on Wednesday, hitting $136.50. 5,389,505 shares of the company's stock traded hands, compared to its average volume of 7,929,399. The company has a market cap of $240.32 billion, a PE ratio of 14.04, a price-to-earnings-growth ratio of 1.46 and a beta of 0.93. Chevron Co. has a 1 year low of $132.04 and a 1 year high of $168.96. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. The firm has a 50-day moving average price of $152.74 and a 200-day moving average price of $153.22.

Chevron (NYSE:CVX - Get Free Report) last released its quarterly earnings data on Friday, January 31st. The oil and gas company reported $2.06 earnings per share 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. Equities analysts anticipate that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Increases Dividend

The company 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 is a boost from Chevron's previous quarterly dividend of $1.63. The ex-dividend date of this dividend was Friday, February 14th. This represents a $6.84 dividend on an annualized basis and a yield of 5.01%. Chevron's dividend payout ratio (DPR) is presently 70.37%.

Insider Buying and Selling at Chevron

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of Chevron 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 completion of the sale, the vice president now directly owns 1,057 shares in the company, valued at $161,192.50. The trade was a 89.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.20% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Barclays lowered shares of Chevron from an "overweight" rating to an "equal weight" rating and decreased their target price for the company from $171.00 to $152.00 in a research report on Wednesday. Truist Financial dropped their price objective on Chevron from $164.00 to $160.00 and set a "hold" rating on the stock in a research note on Tuesday, February 4th. Redburn Atlantic reaffirmed a "sell" rating and set a $124.00 target price (down previously from $156.00) on shares of Chevron in a research note on Wednesday. Wells Fargo & Company cut their price target on shares of Chevron from $184.00 to $173.00 and set an "overweight" rating for the company in a report on Tuesday, April 15th. Finally, BNP Paribas cut shares of Chevron to a "cautious" rating in a research note on Tuesday, April 15th. Two research 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, Chevron has an average rating of "Hold" and a consensus price target of $165.71.

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.