Massachusetts Financial Services Co. MA Acquires 4,596,584 Shares of Chevron Co. (NYSE:CVX)

Massachusetts Financial Services Co. MA raised its holdings in shares of Chevron Co. (NYSE:CVX - Free Report) by 73,888.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,602,805 shares of the oil and gas company's stock after purchasing an additional 4,596,584 shares during the period. Massachusetts Financial Services Co. MA owned 0.24% of Chevron worth $686,554,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in CVX. Picton Mahoney Asset Management acquired a new position in shares of Chevron during the third quarter worth $26,000. Bare Financial Services Inc acquired a new position in shares of Chevron during the fourth quarter worth $27,000. Valley Forge Investment Consultants Inc. ADV increased its position in shares of Chevron by 80.0% during the third quarter. Valley Forge Investment Consultants Inc. ADV now owns 180 shares of the oil and gas company's stock worth $30,000 after purchasing an additional 80 shares in the last quarter. Valued Wealth Advisors LLC acquired a new position in shares of Chevron during the fourth quarter worth $33,000. Finally, Roble Belko & Company Inc increased its position in shares of Chevron by 77.3% during the fourth quarter. Roble Belko & Company Inc now owns 344 shares of the oil and gas company's stock worth $51,000 after purchasing an additional 150 shares in the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently issued reports on CVX shares. HSBC upped their target price on Chevron from $175.00 to $178.00 and gave the company a "buy" rating in a research report on Tuesday, April 30th. Wells Fargo & Company upped their target price on Chevron from $198.00 to $206.00 and gave the company an "overweight" rating in a research report on Tuesday, April 30th. Mizuho upped their target price on Chevron from $200.00 to $205.00 and gave the company a "buy" rating in a research report on Monday. DZ Bank downgraded Chevron from a "buy" rating to a "hold" rating and set a $160.00 target price on the stock. in a research report on Tuesday, February 6th. Finally, Barclays started coverage on Chevron in a research report on Wednesday, April 10th. They issued an "overweight" rating and a $203.00 target price on the stock. Six research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $186.10.

Chevron Price Performance

Shares of CVX stock traded down $1.26 during mid-day trading on Monday, hitting $164.56. 6,839,441 shares of the stock were exchanged, compared to its average volume of 8,377,224. The firm has a fifty day moving average of $158.35 and a 200 day moving average of $151.60. The company has a quick ratio of 0.93, a current ratio of 1.23 and a debt-to-equity ratio of 0.13. Chevron Co. has a 52-week low of $139.62 and a 52-week high of $171.70. The company has a market cap of $303.94 billion, a PE ratio of 15.11, a price-to-earnings-growth ratio of 2.44 and a beta of 1.11.

Chevron (NYSE:CVX - Get Free Report) last posted its earnings results on Friday, April 26th. The oil and gas company reported $2.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.84 by $0.09. The business had revenue of $48.72 billion for the quarter, compared to analyst estimates of $48.42 billion. Chevron had a net margin of 10.21% and a return on equity of 14.40%. The company's revenue for the quarter was down 4.1% on a year-over-year basis. During the same period in the prior year, the company posted $3.55 EPS. Research analysts anticipate that Chevron Co. will post 13.57 earnings per share for the current year.

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 17th will be paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 3.96%. The ex-dividend date of this dividend is Thursday, May 16th. Chevron's dividend payout ratio is presently 59.98%.

Insider Activity at Chevron

In related news, VP Alana K. Knowles sold 2,800 shares of the firm's stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $160.09, for a total value of $448,252.00. Following the transaction, the vice president now directly owns 276 shares of the company's stock, valued at approximately $44,184.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Chevron news, Director Enrique Hernandez, Jr. sold 5,098 shares of the stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $163.50, for a total value of $833,523.00. Following the completion of the sale, the director now owns 2,549 shares in the company, valued at approximately $416,761.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Alana K. Knowles sold 2,800 shares of the stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $160.09, for a total transaction of $448,252.00. Following the completion of the sale, the vice president now owns 276 shares of the company's stock, valued at approximately $44,184.84. The disclosure for this sale can be found here. In the last three months, insiders have sold 15,796 shares of company stock valued at $2,575,361. 0.20% of the stock is owned by corporate insiders.

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.

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