Thrivent Financial for Lutherans Sells 17,854 Shares of Chevron Co. (NYSE:CVX)

Thrivent Financial for Lutherans trimmed its position in Chevron Co. (NYSE:CVX - Free Report) by 9.7% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 167,027 shares of the oil and gas company's stock after selling 17,854 shares during the period. Thrivent Financial for Lutherans' holdings in Chevron were worth $24,598,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of CVX. Ameriprise Financial Inc. boosted its holdings in Chevron by 3.0% during the second quarter. Ameriprise Financial Inc. now owns 17,111,051 shares of the oil and gas company's stock worth $2,676,957,000 after buying an additional 501,969 shares in the last quarter. Capital World Investors grew its position in Chevron by 3.2% during the 1st quarter. Capital World Investors now owns 16,009,766 shares of the oil and gas company's stock worth $2,525,380,000 after purchasing an additional 495,879 shares in the last quarter. Legal & General Group Plc lifted its holdings in shares of Chevron by 4.9% in the second quarter. Legal & General Group Plc now owns 13,570,971 shares of the oil and gas company's stock valued at $2,122,772,000 after purchasing an additional 629,644 shares in the last quarter. Capital International Investors raised its position in 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 buying an additional 743,042 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in Chevron by 1.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 13,021,023 shares of the oil and gas company's stock worth $2,036,846,000 after acquiring an additional 126,889 shares during the period. Institutional investors and hedge funds own 72.42% of the company's stock.

Chevron Price Performance

Shares of CVX stock traded up $1.73 on Wednesday, hitting $161.33. 6,217,507 shares of the company's stock were exchanged, compared to its average volume of 7,638,400. 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 stock has a market cap of $289.92 billion, a P/E ratio of 17.62, a price-to-earnings-growth ratio of 3.63 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 has a 50 day moving average of $150.23 and a 200 day moving average of $152.57.

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

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th will be paid a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 4.04%. The ex-dividend date is Monday, November 18th. Chevron's dividend payout ratio (DPR) is presently 71.65%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on CVX. Bank of America assumed coverage on Chevron in a research report on Thursday, October 17th. They issued a "buy" rating and a $168.00 target price on the stock. DZ Bank upgraded Chevron from a "hold" rating to a "buy" rating and set a $170.00 price objective on the stock in a research note on Tuesday, November 5th. Barclays lifted their target price on Chevron from $168.00 to $174.00 and gave the stock an "overweight" rating in a research report on Monday, November 4th. UBS Group lifted their target price 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. Finally, Mizuho reduced their target price on shares of Chevron from $205.00 to $189.00 and set an "outperform" rating on the stock in a research note on Monday, September 16th. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $174.93.

Insider Buying and Selling

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of the business's 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 completion of the sale, the chief executive officer now directly 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 document filed with the SEC, which is accessible through this hyperlink. 0.20% of the stock is owned by insiders.

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.