Commonwealth Equity Services LLC Has $190.32 Million Stock Position in Chevron Co. (NYSE:CVX)

Commonwealth Equity Services LLC trimmed its position in shares of Chevron Co. (NYSE:CVX) by 0.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,313,997 shares of the oil and gas company’s stock after selling 5,181 shares during the quarter. Commonwealth Equity Services LLC owned approximately 0.07% of Chevron worth $190,319,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. State Street Corp raised its holdings in Chevron by 0.6% during the 3rd quarter. State Street Corp now owns 159,105,244 shares of the oil and gas company’s stock worth $23,431,429,000 after buying an additional 874,962 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Chevron by 2.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 31,855,566 shares of the oil and gas company’s stock worth $4,613,960,000 after buying an additional 746,806 shares during the last quarter. Fisher Asset Management LLC increased its holdings in Chevron by 2.1% during the fourth quarter. Fisher Asset Management LLC now owns 19,892,848 shares of the oil and gas company’s stock worth $2,881,280,000 after buying an additional 410,460 shares during the last quarter. Franklin Resources Inc. boosted its position in Chevron by 3.4% during the third quarter. Franklin Resources Inc. now owns 17,200,188 shares of the oil and gas company’s stock worth $2,610,645,000 after purchasing an additional 573,218 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in Chevron by 17.3% during the fourth quarter. Bank of New York Mellon Corp now owns 16,496,687 shares of the oil and gas company’s stock worth $2,389,380,000 after purchasing an additional 2,432,756 shares during the period. 72.42% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on CVX shares. Piper Sandler reduced their target price on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. UBS Group dropped their price target on Chevron from $195.00 to $194.00 and set a “buy” rating for the company in a research note on Monday, February 3rd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $175.00 price target on shares of Chevron in a research note on Monday, February 3rd. Wells Fargo & Company lowered their target price on Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. Finally, Barclays reduced their target price on Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a report on Wednesday, February 5th. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $174.13.

Insider Activity at Chevron

In related news, VP Jeff B. Gustavson sold 9,325 shares of the company’s stock in a transaction dated 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 filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.20% of the company’s stock.

Chevron Stock Down 0.9 %

Shares of NYSE CVX opened at $152.63 on Thursday. The firm’s 50-day moving average is $154.71 and its two-hundred day moving average is $151.91. 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 company has a market capitalization of $268.72 billion, a PE ratio of 15.70, a price-to-earnings-growth ratio of 1.46 and a beta of 1.08. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $167.11.

Chevron (NYSE:CVX) last announced its 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 net margin of 8.71% and a return on equity of 11.44%. During the same quarter in the previous year, the company earned $3.45 earnings per share. Equities analysts anticipate that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Friday, February 14th were given a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.48%. This is a positive change from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend was Friday, February 14th. Chevron’s dividend payout ratio is 70.37%.

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.