Massachusetts Financial Services Co. MA Trims Stock Position in Chevron Co. (NYSE:CVX)

Massachusetts Financial Services Co. MA decreased its position in Chevron Co. (NYSE:CVX - Free Report) by 1.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,381,993 shares of the oil and gas company's stock after selling 155,866 shares during the quarter. Massachusetts Financial Services Co. MA owned 0.46% of Chevron worth $1,234,416,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of CVX. Rational Advisors LLC purchased a new position in shares of Chevron in the 3rd quarter worth approximately $29,000. Darwin Wealth Management LLC purchased a new position in Chevron during the third quarter worth $30,000. Anfield Capital Management LLC increased its position in Chevron by 118.0% during the second quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company's stock valued at $34,000 after acquiring an additional 118 shares during the last quarter. Cyrus J. Lawrence LLC raised its stake in shares of Chevron by 66.7% in the second quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company's stock valued at $39,000 after acquiring an additional 100 shares during the period. Finally, Krane Funds Advisors LLC bought a new stake in shares of Chevron in the 3rd quarter worth about $47,000. Hedge funds and other institutional investors own 72.42% of the company's stock.

Chevron Stock Up 0.2 %

Shares of NYSE:CVX traded up $0.25 on Thursday, reaching $161.58. The company had a trading volume of 5,911,960 shares, compared to its average volume of 7,652,934. The firm has a market capitalization of $290.37 billion, a PE ratio of 17.76, 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 52-week low of $135.37 and a 52-week high of $167.11. The firm's 50 day simple moving average is $150.70 and its 200-day simple moving average is $152.63.

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 (EPS) 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 firm's quarterly revenue was down 6.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $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 firm also recently disclosed 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. The ex-dividend date of this dividend is Monday, November 18th. This represents a $6.52 annualized dividend and a dividend yield of 4.04%. Chevron's dividend payout ratio is presently 71.65%.

Insider Transactions at Chevron

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of Chevron 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 sale, 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.20% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on CVX shares. Wells Fargo & Company cut their price target on shares of Chevron from $196.00 to $169.00 and set an "overweight" rating on the stock in a report on Friday, September 27th. Barclays upped their target price on Chevron from $168.00 to $174.00 and gave the company an "overweight" rating in a research note on Monday, November 4th. UBS Group boosted their price objective on Chevron from $192.00 to $194.00 and gave the company a "buy" rating in a report on Monday, November 4th. 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. Finally, Scotiabank cut their price target on shares of Chevron from $180.00 to $163.00 and set a "sector outperform" rating on the stock in a report on Thursday, October 10th. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, Chevron has an average rating of "Moderate Buy" and a consensus target price of $174.93.

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.