Strategy Asset Managers LLC Sells 17,519 Shares of Chevron Co. (NYSE:CVX)

Strategy Asset Managers LLC reduced its position in shares of Chevron Co. (NYSE:CVX - Free Report) by 26.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 48,538 shares of the oil and gas company's stock after selling 17,519 shares during the period. Chevron comprises about 1.4% of Strategy Asset Managers LLC's investment portfolio, making the stock its 17th largest holding. Strategy Asset Managers LLC's holdings in Chevron were worth $7,148,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. International Assets Investment Management LLC boosted its stake in shares of Chevron by 19,404.1% in the third quarter. International Assets Investment Management LLC now owns 4,901,390 shares of the oil and gas company's stock valued at $7,218,280,000 after buying an additional 4,876,260 shares during the period. Pathway Financial Advisers LLC raised 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 valued at $574,551,000 after purchasing an additional 3,876,731 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of Chevron by 55.5% in the second quarter. Massachusetts Financial Services Co. MA now owns 8,537,859 shares of the oil and gas company's stock valued at $1,335,492,000 after buying an additional 3,048,819 shares during the period. Wulff Hansen & CO. boosted its position in Chevron by 15,542.0% during the 2nd quarter. Wulff Hansen & CO. now owns 1,175,653 shares of the oil and gas company's stock worth $183,896,000 after buying an additional 1,168,137 shares during the period. Finally, Capital International Investors raised its stake in shares of Chevron by 5.9% during the first quarter. Capital International Investors now owns 13,418,287 shares of the oil and gas company's stock valued at $2,116,600,000 after acquiring an additional 743,042 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company's stock.

Insider Buying and Selling

In related news, CEO Michael K. Wirth sold 164,600 shares of Chevron stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 4,280 shares in the company, valued at $685,356.40. The trade was a 97.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.20% of the stock is currently owned by insiders.

Chevron Stock Up 0.5 %

NYSE:CVX traded up $0.86 on Wednesday, hitting $160.46. The stock had a trading volume of 2,058,249 shares, compared to its average volume of 7,632,380. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. The stock has a market cap of $288.36 billion, a P/E ratio of 17.62, a price-to-earnings-growth ratio of 3.63 and a beta of 1.09. The firm's fifty day simple moving average is $150.23 and its two-hundred day simple moving average is $152.57. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $167.11.

Chevron (NYSE:CVX - Get Free Report) last announced its quarterly earnings data 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 business had revenue of $50.67 billion during 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%. Chevron's revenue was down 6.3% compared to the same quarter last year. During the same period in the prior year, the company earned $3.05 earnings per share. Analysts predict that Chevron Co. will post 10.55 earnings per share for the current year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 18th will be paid a dividend of $1.63 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.06%. Chevron's payout ratio is 71.65%.

Wall Street Analysts Forecast Growth

CVX has been the subject of a number of recent analyst reports. Truist Financial increased their target price on shares of Chevron from $150.00 to $155.00 and gave the company a "hold" rating in a research report on Monday, November 4th. UBS Group upped their price target on shares of Chevron from $192.00 to $194.00 and gave the company a "buy" rating in a research report on Monday, November 4th. Barclays boosted their price objective on Chevron from $168.00 to $174.00 and gave the company an "overweight" rating in a research note on Monday, November 4th. Mizuho lowered their target price on Chevron from $205.00 to $189.00 and set an "outperform" rating for the company in a report on Monday, September 16th. Finally, DZ Bank upgraded Chevron from a "hold" rating to a "buy" rating and set a $170.00 price target on the stock in a report on Tuesday, November 5th. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $174.93.

Chevron Company 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.