Manning & Napier Advisors LLC Sells 23,051 Shares of Chevron Co. (NYSE:CVX)

Manning & Napier Advisors LLC decreased its holdings in shares of Chevron Co. (NYSE:CVX - Free Report) by 7.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 294,113 shares of the oil and gas company's stock after selling 23,051 shares during the period. Manning & Napier Advisors LLC's holdings in Chevron were worth $42,599,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Tacita Capital Inc grew its position in Chevron by 16.7% in the third quarter. Tacita Capital Inc now owns 454 shares of the oil and gas company's stock worth $67,000 after buying an additional 65 shares during the last quarter. Wallace Capital Management Inc. boosted its stake in shares of Chevron by 0.8% during the 3rd quarter. Wallace Capital Management Inc. now owns 8,229 shares of the oil and gas company's stock worth $1,212,000 after acquiring an additional 65 shares in the last quarter. Cyndeo Wealth Partners LLC grew its holdings in shares of Chevron by 0.3% in the 3rd 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 last quarter. S.A. Mason LLC raised its position in shares of Chevron by 0.7% during 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 purchasing an additional 67 shares during the period. Finally, Jag Capital Management LLC lifted its holdings in shares of Chevron by 5.2% during 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 purchasing an additional 67 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company's stock.

Insider Activity

In related news, CEO Michael K. Wirth sold 164,600 shares of the business's stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the completion of the transaction, the chief executive officer now owns 4,280 shares of the company's stock, valued at approximately $685,356.40. The trade was a 97.47 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.20% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on CVX. UBS Group boosted their price objective on Chevron from $194.00 to $195.00 and gave the stock a "buy" rating in a report on Tuesday, December 3rd. Piper Sandler decreased their price objective on shares of Chevron from $184.00 to $173.00 and set an "overweight" rating for the company in a research note on Thursday, December 19th. Barclays boosted their target price on shares of Chevron from $168.00 to $174.00 and gave the company an "overweight" rating in a research note on Monday, November 4th. Bank of America assumed coverage on Chevron in a research report on Thursday, October 17th. They issued a "buy" rating and a $168.00 target price for the company. Finally, Raymond James upped their price target on Chevron from $175.00 to $180.00 and gave the company an "outperform" rating in a research report on Friday, January 17th. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to MarketBeat.com, Chevron has a consensus rating of "Moderate Buy" and an average price target of $175.27.

Chevron Stock Up 0.9 %

Shares of Chevron stock traded up $1.42 during midday trading on Thursday, reaching $157.11. 3,191,345 shares of the company's stock traded hands, compared to its average volume of 7,376,139. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. Chevron Co. has a 52 week low of $135.37 and a 52 week high of $167.11. The company's 50 day simple moving average is $153.56 and its 200 day simple moving average is $151.16. The company has a market cap of $282.34 billion, a price-to-earnings ratio of 17.25, a price-to-earnings-growth ratio of 1.37 and a beta of 1.12.

Chevron (NYSE:CVX - Get Free Report) last posted its earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, beating the consensus estimate of $2.47 by $0.04. The company had revenue of $50.67 billion for the quarter, compared to analyst estimates of $48.86 billion. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The business's revenue was down 6.3% compared to the same quarter last year. During the same period last year, the company earned $3.05 earnings per share. Equities analysts expect that Chevron Co. will post 10.18 earnings per share for the current fiscal year.

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th were issued a dividend of $1.63 per share. The ex-dividend date of this dividend was Monday, November 18th. This represents a $6.52 annualized dividend and a yield of 4.15%. Chevron's dividend payout ratio (DPR) is presently 71.65%.

Chevron 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.