Vanguard Group Inc. Sells 1,562,856 Shares of Chevron Co. (NYSE:CVX)

Vanguard Group Inc. decreased its position in Chevron Co. (NYSE:CVX - Free Report) by 1.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 156,967,725 shares of the oil and gas company's stock after selling 1,562,856 shares during the quarter. Chevron accounts for approximately 0.4% of Vanguard Group Inc.'s holdings, making the stock its 29th largest holding. Vanguard Group Inc. owned 8.73% of Chevron worth $22,735,205,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of CVX. IMG Wealth Management Inc. acquired a new position in Chevron during the 4th quarter worth approximately $25,000. Legacy Investment Solutions LLC bought a new stake in shares of Chevron in the third quarter worth $29,000. Fairway Wealth LLC boosted its holdings in Chevron by 75.9% during the fourth quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company's stock worth $30,000 after purchasing an additional 88 shares during the last quarter. RPg Family Wealth Advisory LLC bought a new position in Chevron in the third quarter valued at $31,000. Finally, New Wave Wealth Advisors LLC acquired a new stake in Chevron in the 4th quarter valued at $39,000. 72.42% of the stock is currently owned by institutional investors.

Chevron Stock Performance

Shares of NYSE:CVX traded up $2.01 during trading on Wednesday, reaching $167.95. 10,074,927 shares of the stock were exchanged, compared to its average volume of 7,354,563. Chevron Co. has a 12 month low of $135.37 and a 12 month high of $168.93. The stock has a 50-day moving average price of $156.87 and a 200-day moving average price of $153.11. 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 firm has a market cap of $295.69 billion, a PE ratio of 17.28, a PEG ratio of 1.46 and a beta of 1.08.

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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 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 period last year, the firm earned $3.45 EPS. Research analysts expect that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Friday, February 14th were paid 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 dividend yield of 4.07%. Chevron's dividend payout ratio is 70.37%.

Analysts Set New Price Targets

A number of research firms recently issued reports on CVX. Barclays lowered their target price on Chevron from $174.00 to $171.00 and set an "overweight" rating on the stock in a research report on Wednesday, February 5th. UBS Group lowered their price target on Chevron from $195.00 to $194.00 and set a "buy" rating on the stock in a research report on Monday, February 3rd. Raymond James cut their price objective on Chevron from $180.00 to $175.00 and set an "outperform" rating for the company in a report on Monday, February 3rd. Truist Financial decreased their target price on shares of Chevron from $164.00 to $160.00 and set a "hold" rating for the company in a research note on Tuesday, February 4th. Finally, Wells Fargo & Company cut their price target on shares of Chevron from $188.00 to $184.00 and set an "overweight" rating for the company in a research note on Monday, February 3rd. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $174.13.

Insider Buying and Selling

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of the 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 transaction, the vice president now owns 1,057 shares in the company, valued at $161,192.50. This represents a 89.82 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.20% of the stock is owned by insiders.

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.