Chevron Co. (NYSE:CVX) Shares Sold by Hennessy Advisors Inc.

Hennessy Advisors Inc. trimmed its position in shares of Chevron Co. (NYSE:CVX - Free Report) by 2.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 65,432 shares of the oil and gas company's stock after selling 1,950 shares during the period. Hennessy Advisors Inc.'s holdings in Chevron were worth $9,477,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of CVX. Tacita Capital Inc increased its position in Chevron by 16.7% during the 3rd quarter. Tacita Capital Inc now owns 454 shares of the oil and gas company's stock worth $67,000 after purchasing an additional 65 shares during the period. Wallace Capital Management Inc. boosted its stake in shares of Chevron by 0.8% in the third quarter. Wallace Capital Management Inc. now owns 8,229 shares of the oil and gas company's stock valued at $1,212,000 after buying an additional 65 shares in the last quarter. Cyndeo Wealth Partners LLC grew its holdings in Chevron by 0.3% during the third quarter. Cyndeo Wealth Partners LLC now owns 19,769 shares of the oil and gas company's stock worth $2,911,000 after acquiring an additional 67 shares during the period. S.A. Mason LLC raised its position in Chevron by 0.7% in the third quarter. S.A. Mason LLC now owns 9,033 shares of the oil and gas company's stock worth $1,330,000 after acquiring an additional 67 shares in the last quarter. Finally, Jag Capital Management LLC lifted its holdings in Chevron by 5.2% in the third quarter. Jag Capital Management LLC now owns 1,366 shares of the oil and gas company's stock valued at $201,000 after acquiring an additional 67 shares during the period. Institutional investors own 72.42% of the company's stock.

Insider Buying and Selling

In other Chevron 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 value of $26,357,398.00. Following the sale, the chief executive officer now owns 4,280 shares in the company, valued at approximately $685,356.40. This trade represents a 97.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.20% of the company's stock.

Chevron Stock Up 1.4 %

Shares of CVX stock traded up $2.16 on Friday, hitting $161.54. The stock had a trading volume of 9,233,657 shares, compared to its average volume of 7,835,055. Chevron Co. has a 52-week low of $135.37 and a 52-week high of $167.11. The firm has a market capitalization of $290.30 billion, a price-to-earnings ratio of 17.75, a P/E/G ratio of 2.62 and a beta of 1.12. 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 stock's 50 day moving average is $153.93 and its 200-day moving average is $151.09.

Chevron (NYSE:CVX - Get Free Report) last released its earnings results on Friday, November 1st. The oil and gas company reported $2.51 EPS for the quarter, topping analysts' consensus estimates of $2.47 by $0.04. The company had revenue of $50.67 billion for the quarter, compared to the consensus estimate of $48.86 billion. Chevron had a return on equity of 13.15% and a net margin of 8.44%. Chevron's quarterly revenue was down 6.3% compared to the same quarter last year. During the same quarter last year, the business posted $3.05 EPS. As a group, research analysts expect that Chevron Co. will post 10.39 earnings per share for the current year.

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th were given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.04%. The ex-dividend date was Monday, November 18th. Chevron's payout ratio is 71.65%.

Analysts Set New Price Targets

CVX has been the subject of a number of research reports. Citigroup upgraded shares of Chevron from a "neutral" rating to a "buy" rating and lifted their price target for the company from $145.00 to $185.00 in a research report on Tuesday, November 26th. Wells Fargo & Company boosted their target price on Chevron from $171.00 to $188.00 and gave the stock an "overweight" rating in a research report on Monday, December 9th. Barclays raised their price target on Chevron from $168.00 to $174.00 and gave the company an "overweight" rating in a research report on Monday, November 4th. Royal Bank of Canada boosted their price objective on shares of Chevron from $170.00 to $175.00 and gave the stock an "outperform" rating in a research report on Monday, November 4th. Finally, Scotiabank dropped their target price on shares of Chevron from $180.00 to $163.00 and set a "sector outperform" rating for the company in a report on Thursday, October 10th. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, Chevron has an average rating of "Moderate Buy" and an average target price of $175.27.

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.