Chevron Co. (NYSE:CVX) Shares Sold by London Co. of Virginia

London Co. of Virginia cut its stake in shares of Chevron Co. (NYSE:CVX - Free Report) by 6.6% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 1,680,188 shares of the oil and gas company's stock after selling 117,773 shares during the period. Chevron comprises about 1.3% of London Co. of Virginia's holdings, making the stock its 28th biggest holding. London Co. of Virginia owned 0.09% of Chevron worth $243,358,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in the stock. Norges Bank acquired a new stake in shares of Chevron during the fourth quarter valued at about $3,017,750,000. Raymond James Financial Inc. acquired a new stake in shares of Chevron during the fourth quarter valued at about $1,036,302,000. Bank of New York Mellon Corp increased its position 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 valued at $2,389,380,000 after acquiring an additional 2,432,756 shares during the last quarter. Amundi increased its position 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 acquiring an additional 1,910,262 shares during the last quarter. Finally, Capital World Investors increased its position in shares of Chevron by 11.4% during the fourth 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 last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Chevron Price Performance

Shares of Chevron stock traded down $1.13 on Wednesday, hitting $141.22. The company's stock had a trading volume of 6,437,758 shares, compared to its average volume of 8,016,224. Chevron Co. has a 52-week low of $132.04 and a 52-week high of $168.96. 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 has a fifty day moving average price of $147.51 and a 200-day moving average price of $151.94. The company has a market capitalization of $248.63 billion, a P/E ratio of 14.53, a price-to-earnings-growth ratio of 1.46 and a beta of 0.83.

Chevron (NYSE:CVX - Get Free Report) last released its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $2.18 EPS for the quarter, topping the consensus estimate of $2.15 by $0.03. The business had revenue of $47.61 billion for 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 revenue for the quarter was down 2.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.93 EPS. On average, equities research analysts expect that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th will be issued a $1.71 dividend. The ex-dividend date of this dividend is Monday, May 19th. This represents a $6.84 dividend on an annualized basis and a yield of 4.84%. Chevron's dividend payout ratio (DPR) is 78.17%.

Analysts Set New Price Targets

CVX has been the subject of several recent research reports. Redburn Atlantic reissued a "sell" rating and issued a $124.00 price objective (down previously from $156.00) on shares of Chevron in a research note on Wednesday, April 23rd. UBS Group lowered their price objective on shares of Chevron from $194.00 to $185.00 and set a "buy" rating for the company in a research note on Monday, April 7th. BNP Paribas lowered shares of Chevron to a "cautious" rating in a research note on Tuesday, April 15th. Raymond James lowered their price objective on shares of Chevron from $180.00 to $175.00 and set an "outperform" rating for the company in a research note on Monday, February 3rd. Finally, Truist Financial lowered their price objective on shares of Chevron from $164.00 to $160.00 and set a "hold" rating for the company in a research note on Tuesday, February 4th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $160.24.

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.