Chevron Co. (NYSE:CVX) Shares Sold by First Trust Advisors LP

First Trust Advisors LP lessened its holdings in Chevron Co. (NYSE:CVX - Free Report) by 3.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,172,171 shares of the oil and gas company's stock after selling 114,742 shares during the period. First Trust Advisors LP owned 0.18% of Chevron worth $459,457,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on CVX. Barclays cut shares of Chevron from an "overweight" rating to an "equal weight" rating and lowered their price objective for the company from $171.00 to $152.00 in a research note on Wednesday. BNP Paribas lowered Chevron to a "cautious" rating in a research note on Tuesday, April 15th. Truist Financial cut their price objective on Chevron from $164.00 to $160.00 and set a "hold" rating on the stock in a report on Tuesday, February 4th. Raymond James decreased their target price on Chevron from $180.00 to $175.00 and set an "outperform" rating for the company in a report on Monday, February 3rd. Finally, Scotiabank lowered shares of Chevron from a "sector outperform" rating to a "sector perform" rating and cut their price target for the company from $160.00 to $143.00 in a report on Friday, April 11th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $165.71.

Chevron Stock Down 0.6 %

CVX stock traded down $0.80 during trading on Wednesday, reaching $136.50. The stock had a trading volume of 5,389,505 shares, compared to its average volume of 7,929,399. 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 fifty day moving average price of $152.74 and a 200 day moving average price of $153.22. The company has a market capitalization of $240.32 billion, a P/E ratio of 14.04, a PEG 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.

Chevron (NYSE:CVX - Get Free Report) last released its quarterly earnings results on Friday, January 31st. The oil and gas company reported $2.06 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 period last year, the firm posted $3.45 earnings per share. On average, equities analysts anticipate that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Friday, February 14th were given a dividend of $1.71 per share. The ex-dividend date was Friday, February 14th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 5.01%. This is an increase from Chevron's previous quarterly dividend of $1.63. Chevron's dividend payout ratio (DPR) is presently 70.37%.

Insider Buying and Selling

In related news, VP Jeff B. Gustavson sold 9,325 shares of Chevron stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $152.50, for a total value of $1,422,062.50. Following the completion of the transaction, the vice president now directly owns 1,057 shares in the company, valued at approximately $161,192.50. This trade represents a 89.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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.