Advisors Asset Management Inc. Decreases Stock Position in Chevron Co. (NYSE:CVX)

Advisors Asset Management Inc. decreased its stake in shares of Chevron Co. (NYSE:CVX) by 5.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 204,930 shares of the oil and gas company’s stock after selling 10,778 shares during the quarter. Chevron makes up 0.6% of Advisors Asset Management Inc.’s investment portfolio, making the stock its 23rd biggest holding. Advisors Asset Management Inc.’s holdings in Chevron were worth $30,180,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the stock. International Assets Investment Management LLC increased its position in shares of Chevron by 19,404.1% in the 3rd 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 purchasing an additional 4,876,260 shares during the last quarter. Pathway Financial Advisers LLC increased its holdings 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 buying an additional 3,876,731 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in 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 last quarter. Wulff Hansen & CO. raised its stake in Chevron by 15,542.0% in the second quarter. Wulff Hansen & CO. now owns 1,175,653 shares of the oil and gas company’s stock valued at $183,896,000 after buying an additional 1,168,137 shares in the last quarter. Finally, Capital International Investors boosted its position in shares of Chevron by 5.9% during the 1st quarter. Capital International Investors now owns 13,418,287 shares of the oil and gas company’s stock worth $2,116,600,000 after acquiring an additional 743,042 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Stock Down 0.7 %

Shares of NYSE:CVX opened at $159.61 on Wednesday. Chevron Co. has a fifty-two week low of $135.37 and a fifty-two week high of $167.11. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. The firm’s 50-day simple moving average is $150.23 and its 200-day simple moving average is $152.57. The company has a market cap of $286.83 billion, a price-to-earnings ratio of 17.54, a PEG ratio of 3.63 and a beta of 1.09.

Chevron (NYSE:CVX) 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 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 for the quarter, compared to analyst estimates of $48.86 billion. During the same quarter in the previous year, the company earned $3.05 EPS. The firm’s revenue for the quarter was down 6.3% compared to the same quarter last year. As a group, equities research 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 issued a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 4.08%. The ex-dividend date is Monday, November 18th. Chevron’s dividend payout ratio is currently 71.65%.

Analysts Set New Price Targets

CVX has been the topic of several research analyst reports. Truist Financial raised their target price on Chevron from $150.00 to $155.00 and gave the stock a “hold” rating in a research report on Monday, November 4th. Scotiabank reduced their price objective on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Mizuho dropped their target price on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a research report on Monday, September 16th. UBS Group boosted 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. Finally, DZ Bank raised Chevron from a “hold” rating to a “buy” rating and set a $170.00 price objective on the stock in a report on Tuesday, November 5th. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $174.93.

Insiders Place Their Bets

In related news, CEO Michael K. Wirth sold 164,600 shares of the company’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 value of $26,357,398.00. Following the sale, the chief executive officer now owns 4,280 shares in the company, valued at $685,356.40. This represents a 97.47 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.20% of the stock is currently owned by company 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.