Chevron Co. (NYSE:CVX) Shares Sold by NFJ Investment Group LLC

NFJ Investment Group LLC reduced its holdings in shares of Chevron Co. (NYSE:CVX - Free Report) by 1.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 248,362 shares of the oil and gas company's stock after selling 3,338 shares during the quarter. Chevron makes up 1.2% of NFJ Investment Group LLC's investment portfolio, making the stock its 17th biggest holding. NFJ Investment Group LLC's holdings in Chevron were worth $35,973,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. IMG Wealth Management Inc. acquired a new stake in shares of Chevron in the 4th quarter valued at about $25,000. Mizuho Securities Co. Ltd. purchased a new stake in Chevron in the fourth quarter valued at approximately $29,000. Fairway Wealth LLC boosted its holdings in shares of Chevron by 75.9% in the fourth quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company's stock valued at $30,000 after acquiring an additional 88 shares during the period. New Wave Wealth Advisors LLC purchased a new position in shares of Chevron during the fourth quarter worth approximately $39,000. Finally, Prudent Man Investment Management Inc. acquired a new position in shares of Chevron in the 4th quarter valued at $45,000. Hedge funds and other institutional investors own 72.42% of the company's stock.

Insiders Place Their Bets

In related news, VP Jeff B. Gustavson sold 9,325 shares of the company's stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $152.50, for a total transaction of $1,422,062.50. Following the completion of the transaction, the vice president now owns 1,057 shares of the company's stock, valued at approximately $161,192.50. This represents a 89.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.20% of the company's stock.

Analysts Set New Price Targets

CVX has been the topic of several research reports. UBS Group lowered their price objective on shares of Chevron from $194.00 to $185.00 and set a "buy" rating on the stock in a research report on Monday, April 7th. Scotiabank cut Chevron from a "sector outperform" rating to a "sector perform" rating and cut their price target for the stock from $160.00 to $143.00 in a research note on Friday, April 11th. Royal Bank of Canada restated an "outperform" rating and issued a $175.00 target price on shares of Chevron in a research note on Monday, February 3rd. Truist Financial lowered their price objective on Chevron from $164.00 to $160.00 and set a "hold" rating on the stock in a report on Tuesday, February 4th. Finally, Wells Fargo & Company decreased their price target on Chevron from $184.00 to $173.00 and set an "overweight" rating on the stock in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $169.50.

Chevron Price Performance

Shares of NYSE CVX traded up $2.32 during trading on Friday, reaching $137.68. The company had a trading volume of 8,423,604 shares, compared to its average volume of 7,924,904. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $242.39 billion, a PE ratio of 14.16, a price-to-earnings-growth ratio of 1.46 and a beta of 0.93. Chevron Co. has a twelve month low of $132.04 and a twelve month high of $168.96. The stock has a 50-day moving average price of $153.54 and a two-hundred day moving average price of $153.42.

Chevron (NYSE:CVX - Get Free Report) last released its quarterly earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.42 by ($0.36). Chevron had a return on equity of 11.44% and a net margin of 8.71%. During the same quarter last year, the firm earned $3.45 EPS. As a group, sell-side analysts predict that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 14th were issued a $1.71 dividend. The ex-dividend date of this dividend was Friday, February 14th. This is an increase from Chevron's previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a yield of 4.97%. Chevron's payout ratio is 70.37%.

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.