Navellier & Associates Inc. Sells 3,408 Shares of Chevron Co. (NYSE:CVX)

Navellier & Associates Inc. cut its stake in Chevron Co. (NYSE:CVX - Free Report) by 15.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,310 shares of the oil and gas company's stock after selling 3,408 shares during the period. Navellier & Associates Inc.'s holdings in Chevron were worth $2,697,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of CVX. L & S Advisors Inc increased its stake in Chevron by 51.4% during the third quarter. L & S Advisors Inc now owns 2,390 shares of the oil and gas company's stock valued at $352,000 after acquiring an additional 811 shares during the period. Blackhawk Capital Partners LLC. grew its holdings in shares of Chevron by 25.7% during the 3rd quarter. Blackhawk Capital Partners LLC. now owns 14,244 shares of the oil and gas company's stock worth $2,098,000 after purchasing an additional 2,908 shares in the last quarter. Pacer Advisors Inc. increased its position in shares of Chevron by 949.6% during the third quarter. Pacer Advisors Inc. now owns 3,819,963 shares of the oil and gas company's stock valued at $562,566,000 after purchasing an additional 3,456,008 shares during the period. Integrated Investment Consultants LLC raised its stake in shares of Chevron by 295.7% in the third quarter. Integrated Investment Consultants LLC now owns 23,543 shares of the oil and gas company's stock valued at $3,467,000 after purchasing an additional 17,593 shares in the last quarter. Finally, Thompson Siegel & Walmsley LLC lifted its position in Chevron by 1.6% in the third quarter. Thompson Siegel & Walmsley LLC now owns 96,813 shares of the oil and gas company's stock worth $14,258,000 after purchasing an additional 1,532 shares during the period. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on CVX shares. 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. Truist Financial increased their price target on shares of Chevron from $150.00 to $155.00 and gave the stock a "hold" rating in a research report on Monday, November 4th. DZ Bank raised Chevron from a "hold" rating to a "buy" rating and set a $170.00 price objective on the stock in a report on Tuesday, November 5th. Wells Fargo & Company lowered their price objective on Chevron from $196.00 to $169.00 and set an "overweight" rating on the stock in a research note on Friday, September 27th. Finally, UBS Group raised 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. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $174.93.

Insider Buying and Selling

In other news, CEO Michael K. Wirth sold 164,600 shares of Chevron stock in a transaction that occurred on 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 owns 4,280 shares in the company, valued at $685,356.40. The trade was a 97.47 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.20% of the company's stock.

Chevron Stock Up 0.6 %

Shares of NYSE:CVX opened at $162.25 on Thursday. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. The firm has a market cap of $291.58 billion, a P/E ratio of 17.73, a P/E/G ratio of 3.59 and a beta of 1.09. Chevron Co. has a 12 month low of $135.37 and a 12 month high of $167.11. The company's 50-day moving average price is $150.70 and its two-hundred day moving average price is $152.63.

Chevron (NYSE:CVX - Get Free Report) last released its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 EPS for the quarter, beating the consensus estimate of $2.47 by $0.04. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The business had revenue of $50.67 billion for the quarter, compared to analysts' expectations of $48.86 billion. During the same period in the prior year, the firm earned $3.05 earnings per share. Chevron's revenue was down 6.3% compared to the same quarter last year. As a group, research analysts forecast that Chevron Co. will post 10.55 EPS for the current fiscal year.

Chevron Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 18th will be issued a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 4.02%. The ex-dividend date is Monday, November 18th. Chevron's dividend payout ratio is 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.

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