Chevron Co. (NYSE:CVX) Stake Increased by Jennison Associates LLC

Jennison Associates LLC grew its stake in Chevron Co. (NYSE:CVX - Free Report) by 11.9% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 449,683 shares of the oil and gas company's stock after purchasing an additional 47,747 shares during the quarter. Jennison Associates LLC's holdings in Chevron were worth $66,225,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. International Assets Investment Management LLC grew its position in shares of Chevron by 19,404.1% in the 3rd quarter. International Assets Investment Management LLC now owns 4,901,390 shares of the oil and gas company's stock worth $7,218,280,000 after acquiring an additional 4,876,260 shares in the last quarter. Pathway Financial Advisers LLC boosted its holdings in Chevron by 15,750.1% in the third quarter. Pathway Financial Advisers LLC now owns 3,901,345 shares of the oil and gas company's stock worth $574,551,000 after purchasing an additional 3,876,731 shares during the period. Massachusetts Financial Services Co. MA increased its stake in Chevron by 55.5% during the second quarter. Massachusetts Financial Services Co. MA now owns 8,537,859 shares of the oil and gas company's stock valued at $1,335,492,000 after purchasing an additional 3,048,819 shares during the last quarter. Wulff Hansen & CO. raised its holdings in shares of Chevron by 15,542.0% during the second quarter. Wulff Hansen & CO. now owns 1,175,653 shares of the oil and gas company's stock worth $183,896,000 after purchasing an additional 1,168,137 shares during the period. Finally, Federated Hermes Inc. lifted its position in shares of Chevron by 38.6% in the 2nd quarter. Federated Hermes Inc. now owns 2,445,005 shares of the oil and gas company's stock worth $382,448,000 after buying an additional 681,394 shares during the last quarter. Institutional investors own 72.42% of the company's stock.

Insider Activity

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

Chevron Price Performance

Shares of NYSE CVX opened at $161.33 on Thursday. The firm has a 50-day moving average of $150.70 and a two-hundred day moving average of $152.63. The company has a market capitalization of $289.92 billion, a price-to-earnings ratio of 17.73, a PEG ratio of 3.59 and a beta of 1.09. 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.

Chevron (NYSE:CVX - Get Free Report) last issued its earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, topping analysts' consensus estimates of $2.47 by $0.04. The firm had revenue of $50.67 billion during 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 revenue for the quarter 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. As a group, analysts expect that Chevron Co. will post 10.55 earnings per share for the current fiscal year.

Chevron Announces Dividend

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

Wall Street Analyst Weigh In

CVX has been the subject of a number of recent research reports. Barclays boosted their price objective on shares of Chevron from $168.00 to $174.00 and gave the company an "overweight" rating in a research report on Monday, November 4th. Scotiabank lowered their target price on Chevron from $180.00 to $163.00 and set a "sector outperform" rating for the company in a report on Thursday, October 10th. Mizuho reduced their price objective on Chevron from $205.00 to $189.00 and set an "outperform" rating for the company in a research report on Monday, September 16th. UBS Group increased their target price on Chevron from $192.00 to $194.00 and gave the stock a "buy" rating in a research report on Monday, November 4th. Finally, Royal Bank of Canada boosted their price target on shares of Chevron from $170.00 to $175.00 and gave the company an "outperform" 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's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $174.93.

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.