Chevron Co. (NYSE:CVX) Shares Sold by LifePro Asset Management

LifePro Asset Management reduced its stake in shares of Chevron Co. (NYSE:CVXGet Rating) by 7.5% during the 3rd quarter, Holdings Channel.com reports. The firm owned 9,644 shares of the oil and gas company’s stock after selling 783 shares during the quarter. Chevron comprises approximately 0.8% of LifePro Asset Management’s holdings, making the stock its 17th biggest position. LifePro Asset Management’s holdings in Chevron were worth $1,386,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Northern Trust Corp grew its position in shares of Chevron by 1.5% during the 2nd quarter. Northern Trust Corp now owns 25,219,717 shares of the oil and gas company’s stock valued at $3,651,311,000 after acquiring an additional 371,458 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Chevron by 1.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 14,697,160 shares of the oil and gas company’s stock valued at $2,393,138,000 after acquiring an additional 189,762 shares during the period. Legal & General Group Plc grew its position in shares of Chevron by 16.3% during the 2nd quarter. Legal & General Group Plc now owns 13,569,692 shares of the oil and gas company’s stock valued at $1,964,620,000 after acquiring an additional 1,899,104 shares during the period. FMR LLC grew its position in shares of Chevron by 62.3% during the 2nd quarter. FMR LLC now owns 11,343,585 shares of the oil and gas company’s stock valued at $1,642,325,000 after acquiring an additional 4,354,660 shares during the period. Finally, Swiss National Bank grew its position in shares of Chevron by 1.2% during the 2nd quarter. Swiss National Bank now owns 8,448,232 shares of the oil and gas company’s stock valued at $1,223,135,000 after acquiring an additional 98,900 shares during the period. 69.37% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently commented on CVX shares. Piper Sandler dropped their target price on Chevron from $206.00 to $199.00 and set an “overweight” rating on the stock in a research report on Monday, December 19th. Bank of America cut Chevron from a “buy” rating to a “neutral” rating and raised their target price for the company from $190.00 to $191.00 in a research report on Friday, January 6th. Morgan Stanley lifted their price objective on Chevron from $193.00 to $196.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 19th. Barclays lifted their price objective on Chevron from $196.00 to $212.00 and gave the stock an “overweight” rating in a report on Tuesday, January 3rd. Finally, Mizuho cut Chevron from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $185.00 to $200.00 in a report on Tuesday, January 10th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $186.67.

Chevron Trading Down 0.1 %

CVX opened at $180.66 on Tuesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.40 and a quick ratio of 1.15. The company’s 50 day simple moving average is $177.53 and its two-hundred day simple moving average is $165.74. Chevron Co. has a 1-year low of $122.84 and a 1-year high of $189.68. The firm has a market capitalization of $349.33 billion, a price-to-earnings ratio of 10.28, a price-to-earnings-growth ratio of 0.81 and a beta of 1.18.

Chevron (NYSE:CVXGet Rating) last released its quarterly earnings results on Friday, October 28th. The oil and gas company reported $5.56 EPS for the quarter, beating the consensus estimate of $5.02 by $0.54. The firm had revenue of $66.64 billion for the quarter, compared to analyst estimates of $61.44 billion. Chevron had a net margin of 14.36% and a return on equity of 22.36%. The business’s revenue for the quarter was up 49.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.96 EPS. Analysts expect that Chevron Co. will post 18.91 EPS for the current fiscal year.

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 12th. Stockholders of record on Friday, November 18th were given a dividend of $1.42 per share. This represents a $5.68 annualized dividend and a dividend yield of 3.14%. The ex-dividend date was Thursday, November 17th. Chevron’s payout ratio is presently 32.31%.

Insider Activity

In other news, VP R. Hewitt Pate sold 32,391 shares of Chevron stock in a transaction that occurred on Thursday, November 3rd. The shares were sold at an average price of $180.00, for a total transaction of $5,830,380.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, VP R. Hewitt Pate sold 32,391 shares of Chevron stock in a transaction that occurred on Thursday, November 3rd. The shares were sold at an average price of $180.00, for a total transaction of $5,830,380.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Michael K. Wirth sold 55,380 shares of Chevron stock in a transaction that occurred on Friday, November 4th. The shares were sold at an average price of $185.09, for a total transaction of $10,250,284.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 293,563 shares of company stock valued at $53,186,421. 0.32% of the stock is currently owned by company insiders.

Chevron Profile

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Chevron Corp. engages in the provision of administrative, financial management, and technology support for energy and chemical operations. It operates through the Upstream and Downstream segments. The Upstream segment consists of the exploration, development, and production of crude oil and natural gas, the liquefaction, transportation, and regasification associated with liquefied natural gas, the transporting of crude oil by major international oil export pipelines, the processing, transporting, storage, and marketing of natural gas, and a gas-to-liquids plant.

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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