Chevron Co. (NYSE:CVX) Shares Acquired by Franklin Resources Inc.

Franklin Resources Inc. boosted its position in Chevron Co. (NYSE:CVX - Free Report) by 3.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 17,200,188 shares of the oil and gas company's stock after purchasing an additional 573,218 shares during the period. Chevron makes up approximately 0.7% of Franklin Resources Inc.'s investment portfolio, making the stock its 24th biggest holding. Franklin Resources Inc. owned approximately 0.96% of Chevron worth $2,610,645,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Marietta Wealth Management LLC lifted its stake in 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 valued at $5,962,000 after acquiring an additional 3,965 shares during the period. Leo Wealth LLC raised its holdings in shares of Chevron by 19.6% during the third quarter. Leo Wealth LLC now owns 8,246 shares of the oil and gas company's stock valued at $1,214,000 after acquiring an additional 1,354 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Chevron by 11.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 31,108,760 shares of the oil and gas company's stock worth $4,581,137,000 after buying an additional 3,203,899 shares in the last quarter. RPG Investment Advisory LLC boosted its stake in Chevron by 3.4% during the third quarter. RPG Investment Advisory LLC now owns 121,167 shares of the oil and gas company's stock worth $17,844,000 after buying an additional 3,933 shares during the last quarter. Finally, State Street Corp grew its stake in shares of Chevron by 0.6% in the 3rd quarter. State Street Corp now owns 159,105,244 shares of the oil and gas company's stock valued at $23,431,429,000 after buying an additional 874,962 shares during the period. Hedge funds and other institutional investors own 72.42% of the company's stock.

Chevron Stock Performance

CVX traded down $0.84 during trading hours on Friday, hitting $153.87. 5,699,994 shares of the stock were exchanged, compared to its average volume of 7,672,458. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. The stock has a 50-day simple moving average of $155.29 and a 200-day simple moving average of $152.46. Chevron Co. has a 12 month low of $135.37 and a 12 month high of $167.11. The stock has a market cap of $276.52 billion, a price-to-earnings ratio of 16.83, a price-to-earnings-growth ratio of 2.98 and a beta of 1.10.

Chevron (NYSE:CVX - Get Free Report) last issued its quarterly earnings data on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (EPS) for the quarter, topping 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 analyst estimates of $48.86 billion. During the same period in the prior year, the company posted $3.05 EPS. The business's revenue for the quarter was down 6.3% compared to the same quarter last year. Analysts anticipate that Chevron Co. will post 10.5 earnings per share for the current year.

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Monday, November 18th were given a $1.63 dividend. The ex-dividend date of this dividend was Monday, November 18th. This represents a $6.52 dividend on an annualized basis and a yield of 4.24%. Chevron's dividend payout ratio is presently 71.65%.

Wall Street Analysts Forecast Growth

CVX has been the subject of several research reports. Truist Financial boosted their price target on shares of Chevron from $155.00 to $160.00 and gave the stock a "hold" rating in a research note on Friday, December 6th. Wells Fargo & Company upped their price objective on Chevron from $171.00 to $188.00 and gave the stock an "overweight" rating in a report on Monday. Mizuho reduced their target price on Chevron from $205.00 to $189.00 and set an "outperform" rating on the stock in a research note on Monday, September 16th. Barclays boosted their target price on shares of Chevron from $168.00 to $174.00 and gave the company an "overweight" rating in a report on Monday, November 4th. Finally, DZ Bank upgraded Chevron from a "hold" rating to a "buy" rating and set a $170.00 target price on the stock in a report on Tuesday, November 5th. Four equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, Chevron has an average rating of "Moderate Buy" and an average price target of $177.13.

Insider Buying and Selling at Chevron

In other news, CEO Michael K. Wirth sold 164,600 shares of the stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $160.13, for a total value 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 $685,356.40. This trade represents a 97.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.20% of the stock is owned by corporate insiders.

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.