Retirement Systems of Alabama lowered its position in Chevron Co. (NYSE:CVX - Free Report) by 17.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 840,473 shares of the oil and gas company's stock after selling 178,395 shares during the period. Retirement Systems of Alabama's holdings in Chevron were worth $123,776,000 at the end of the most recent reporting period.
A number of other large investors also recently made changes to their positions in CVX. International Assets Investment Management LLC lifted its position in shares of Chevron by 19,404.1% during 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 buying an additional 4,876,260 shares in the last quarter. Pathway Financial Advisers LLC boosted its position 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 last quarter. Pacer Advisors Inc. grew its stake in Chevron by 949.6% in the 3rd 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. Charles Schwab Investment Management Inc. increased its position in shares of Chevron by 11.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 31,108,760 shares of the oil and gas company's stock valued at $4,581,137,000 after purchasing an additional 3,203,899 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its stake in shares of Chevron by 55.5% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 8,537,859 shares of the oil and gas company's stock worth $1,335,492,000 after purchasing an additional 3,048,819 shares during the period. 72.42% of the stock is owned by institutional investors.
Analyst Ratings Changes
A number of research analysts have weighed in on the stock. Truist Financial boosted their target price on shares of Chevron from $155.00 to $160.00 and gave the company a "hold" rating in a research note on Friday, December 6th. Royal Bank of Canada increased their price objective on Chevron from $170.00 to $175.00 and gave the company an "outperform" rating in a report on Monday, November 4th. Citigroup upgraded Chevron from a "neutral" rating to a "buy" rating and boosted their target price for the company from $145.00 to $185.00 in a research note on Tuesday, November 26th. UBS Group increased their price target on Chevron from $194.00 to $195.00 and gave the stock a "buy" rating in a research note on Tuesday, December 3rd. Finally, Wells Fargo & Company boosted their price objective on Chevron from $171.00 to $188.00 and gave the company an "overweight" rating in a research note on Monday. Four research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $177.13.
Check Out Our Latest Stock Report on Chevron
Chevron Price Performance
NYSE CVX traded down $0.84 during trading on Friday, reaching $153.87. The company's stock had a trading volume of 5,815,379 shares, compared to its average volume of 7,672,936. The stock has a market capitalization of $276.52 billion, a PE ratio of 16.83, a P/E/G ratio of 2.98 and a beta of 1.10. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. The firm has a fifty day moving average of $155.29 and a 200 day moving average of $152.46. Chevron Co. has a one year low of $135.37 and a one year high of $167.11.
Chevron (NYSE:CVX - Get Free Report) last announced 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. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The business had revenue of $50.67 billion during the quarter, compared to analyst estimates of $48.86 billion. During the same period in the previous year, the business posted $3.05 earnings per share. Chevron's revenue for the quarter was down 6.3% on a year-over-year basis. Analysts expect that Chevron Co. will post 10.5 EPS for the current fiscal year.
Chevron Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th were given 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 dividend yield of 4.24%. Chevron's dividend payout ratio (DPR) is presently 71.65%.
Insider Activity at Chevron
In related news, CEO Michael K. Wirth sold 164,600 shares of the 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 directly owns 4,280 shares in the company, valued at $685,356.40. This represents a 97.47 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.20% of the stock is currently owned by insiders.
Chevron Profile
(
Free Report)
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.
Further Reading
Before you consider Chevron, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Chevron wasn't on the list.
While Chevron currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering what the next stocks will be that hit it big, with solid fundamentals? Click the link below to learn more about how your portfolio could bloom.
Get This Free Report
