Chevron Co. (NYSE:CVX) Shares Sold by Aristotle Capital Management LLC

Aristotle Capital Management LLC lessened its position in shares of Chevron Co. (NYSE:CVX - Free Report) by 11.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 752,994 shares of the oil and gas company's stock after selling 95,424 shares during the quarter. Aristotle Capital Management LLC's holdings in Chevron were worth $109,064,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Norges Bank acquired a new stake in Chevron in the 4th quarter worth approximately $3,017,750,000. Raymond James Financial Inc. acquired a new stake in shares of Chevron during the fourth quarter worth $1,036,302,000. Bank of New York Mellon Corp lifted its stake in shares of 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 buying an additional 2,432,756 shares during the period. Amundi grew its holdings in shares of Chevron by 27.7% during the fourth quarter. Amundi now owns 8,806,050 shares of the oil and gas company's stock valued at $1,323,549,000 after buying an additional 1,910,262 shares during the last quarter. Finally, Capital World Investors increased its position in shares of Chevron by 11.4% in the 4th quarter. Capital World Investors now owns 14,079,656 shares of the oil and gas company's stock valued at $2,039,288,000 after acquiring an additional 1,440,808 shares during the period. Hedge funds and other institutional investors own 72.42% of the company's stock.

Insider Buying and Selling at Chevron

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of the firm's stock in a transaction 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 completion of the sale, the vice president now directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.20% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have commented on CVX. Raymond James lowered their price target on Chevron from $180.00 to $175.00 and set an "outperform" rating for the company in a research report on Monday, February 3rd. Truist Financial dropped their target price on Chevron from $164.00 to $160.00 and set a "hold" rating on the stock in a research report on Tuesday, February 4th. Wells Fargo & Company cut their price target on shares of Chevron from $173.00 to $164.00 and set an "overweight" rating on the stock in a report on Monday. BNP Paribas cut shares of Chevron to a "cautious" rating in a research note on Tuesday, April 15th. Finally, UBS Group dropped their price objective on shares of Chevron from $194.00 to $185.00 and set a "buy" rating on the stock in a report on Monday, April 7th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $161.25.

Chevron Price Performance

CVX stock traded up $0.37 during mid-day trading on Tuesday, reaching $135.87. 9,862,269 shares of the company's stock were exchanged, compared to its average volume of 7,983,695. The company has a market cap of $239.22 billion, a price-to-earnings ratio of 13.98, a price-to-earnings-growth ratio of 1.46 and a beta of 0.83. Chevron Co. has a 12-month low of $132.04 and a 12-month high of $168.96. The stock's 50 day moving average is $149.37 and its 200 day moving average is $152.46. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80.

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

Chevron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Monday, May 19th will be paid a dividend of $1.71 per share. The ex-dividend date of this dividend is Monday, May 19th. This represents a $6.84 annualized dividend and a yield of 5.03%. Chevron's dividend payout ratio is presently 78.17%.

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.