Navellier & Associates Inc. Sells 3,408 Shares of Chevron Co. (NYSE:CVX)

Navellier & Associates Inc. reduced its stake in shares of Chevron Co. (NYSE:CVX) by 15.7% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 18,310 shares of the oil and gas company’s stock after selling 3,408 shares during the quarter. Navellier & Associates Inc.’s holdings in Chevron were worth $2,697,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Rational Advisors LLC acquired a new position in shares of Chevron in the 3rd quarter valued at $29,000. Darwin Wealth Management LLC acquired a new stake in Chevron during the 3rd quarter worth $30,000. Anfield Capital Management LLC lifted its holdings in Chevron by 118.0% during the second quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock worth $34,000 after acquiring an additional 118 shares in the last quarter. Cyrus J. Lawrence LLC grew its stake in Chevron by 66.7% in the second quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock valued at $39,000 after acquiring an additional 100 shares during the period. Finally, Krane Funds Advisors LLC bought a new stake in shares of Chevron in the third quarter worth about $47,000. 72.42% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently weighed in on CVX. UBS Group lifted their price objective on Chevron from $192.00 to $194.00 and gave the company a “buy” rating in a report on Monday, November 4th. Mizuho cut their price target on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a research note on Monday, September 16th. Truist Financial boosted their price objective on shares of Chevron from $150.00 to $155.00 and gave the company a “hold” rating in a research report on Monday, November 4th. Barclays upped their target price on shares of Chevron from $168.00 to $174.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th. Finally, Scotiabank dropped their price target on Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $174.93.

Insider Activity at Chevron

In other news, CEO Michael K. Wirth sold 164,600 shares of the business’s stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the completion of the sale, the chief executive officer now owns 4,280 shares in the company, valued at $685,356.40. The trade was a 97.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.20% of the stock is owned by company insiders.

Chevron Trading Up 0.6 %

Chevron stock opened at $162.25 on Thursday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. The stock has a 50-day simple moving average of $150.70 and a 200 day simple moving average of $152.63. The stock has a market capitalization of $291.58 billion, a P/E ratio of 17.73, a PEG ratio of 3.59 and a beta of 1.09. Chevron Co. has a 52 week low of $135.37 and a 52 week high of $167.11.

Chevron (NYSE:CVX) last posted its earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, topping analysts’ consensus estimates of $2.47 by $0.04. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The business had revenue of $50.67 billion for the quarter, compared to analyst estimates of $48.86 billion. During the same period in the previous year, the firm earned $3.05 EPS. The firm’s revenue was down 6.3% compared to the same quarter last year. Analysts expect that Chevron Co. will post 10.55 earnings per share for the current year.

Chevron Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 18th will be issued a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 4.02%. The ex-dividend date of this dividend is Monday, November 18th. Chevron’s payout ratio is 71.65%.

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.