Axa S.A. Sells 96,868 Shares of Chevron Co. (NYSE:CVX)

AXA S.A. reduced its holdings in shares of Chevron Co. (NYSE:CVX - Free Report) by 28.0% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 249,667 shares of the oil and gas company's stock after selling 96,868 shares during the period. AXA S.A.'s holdings in Chevron were worth $36,162,000 as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. Franklin Resources Inc. increased 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 buying an additional 573,218 shares in the last quarter. Neville Rodie & Shaw Inc. raised its stake in Chevron by 2.9% in the 4th quarter. Neville Rodie & Shaw Inc. now owns 62,404 shares of the oil and gas company's stock valued at $9,039,000 after purchasing an additional 1,767 shares during the last quarter. Bard Financial Services Inc. lifted its holdings in Chevron by 0.3% in the 4th quarter. Bard Financial Services Inc. now owns 62,735 shares of the oil and gas company's stock valued at $9,087,000 after purchasing an additional 200 shares in the last quarter. Doliver Advisors LP boosted its stake in shares of Chevron by 0.9% during the 4th quarter. Doliver Advisors LP now owns 7,984 shares of the oil and gas company's stock worth $1,156,000 after purchasing an additional 70 shares during the last quarter. Finally, Insight Wealth Strategies LLC grew its holdings in shares of Chevron by 0.5% during the fourth quarter. Insight Wealth Strategies LLC now owns 201,015 shares of the oil and gas company's stock worth $29,115,000 after buying an additional 1,092 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on CVX. Scotiabank lowered shares of Chevron from a "sector outperform" rating to a "sector perform" rating and decreased their target price for the stock from $160.00 to $143.00 in a research report on Friday, April 11th. Royal Bank of Canada reissued an "outperform" rating and issued a $175.00 target price on shares of Chevron in a research report on Monday, February 3rd. UBS Group cut their target price on Chevron from $194.00 to $185.00 and set a "buy" rating on the stock in a research report on Monday, April 7th. TD Cowen dropped their target price on Chevron from $155.00 to $150.00 and set a "hold" rating on the stock in a report on Monday. Finally, Truist Financial dropped their price objective on shares of Chevron from $164.00 to $160.00 and set a "hold" rating on the stock in a research note on Tuesday, February 4th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $161.25.

Chevron Price Performance

CVX stock traded up $0.13 during trading on Wednesday, hitting $135.73. The company had a trading volume of 7,198,285 shares, compared to its average volume of 7,983,584. The firm has a market capitalization of $238.97 billion, a price-to-earnings ratio of 13.96, a P/E/G ratio of 1.46 and a beta of 0.83. 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 business has a 50 day moving average of $148.95 and a 200 day moving average of $152.34. Chevron Co. has a fifty-two week low of $132.04 and a fifty-two week high of $168.96.

Chevron (NYSE:CVX - Get Free Report) last posted its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $2.18 EPS for the quarter, beating analysts' consensus estimates of $2.15 by $0.03. The company had revenue of $47.61 billion during the quarter, compared to analyst estimates of $49.05 billion. Chevron had a net margin of 8.71% and a return on equity of 11.44%. The business's quarterly revenue was down 2.3% on a year-over-year basis. During the same period in the prior year, the firm earned $2.93 earnings per share. As a group, research analysts predict that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Monday, May 19th will be paid a $1.71 dividend. The ex-dividend date is Monday, May 19th. This represents a $6.84 annualized dividend and a dividend yield of 5.04%. Chevron's payout ratio is 78.17%.

Insider Activity

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of the firm's stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $152.50, for a total value of $1,422,062.50. Following the sale, the vice president now owns 1,057 shares of the company's stock, valued at $161,192.50. This trade represents a 89.82 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.20% of the stock is owned by insiders.

Chevron Company 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.