Chevron Corporation $CVX Stock Position Trimmed by Fisher Asset Management LLC

Fisher Asset Management LLC lessened its stake in Chevron Corporation (NYSE:CVX) by 0.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,601,210 shares of the oil and gas company’s stock after selling 56,655 shares during the period. Chevron accounts for 1.0% of Fisher Asset Management LLC’s portfolio, making the stock its 29th largest holding. Fisher Asset Management LLC owned about 0.84% of Chevron worth $3,390,133,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of CVX. Main Street Group LTD acquired a new position in shares of Chevron during the first quarter valued at $28,000. Kilter Group LLC bought a new position in Chevron in the second quarter valued at about $28,000. Principia Wealth Advisory LLC increased its position in Chevron by 49.6% in the second quarter. Principia Wealth Advisory LLC now owns 181 shares of the oil and gas company’s stock worth $30,000 after purchasing an additional 60 shares during the period. Legacy Wealth Managment LLC ID increased its position in Chevron by 81.8% in the first quarter. Legacy Wealth Managment LLC ID now owns 220 shares of the oil and gas company’s stock worth $46,000 after purchasing an additional 99 shares during the period. Finally, Strategic Wealth Advisors LLC acquired a new stake in Chevron in the second quarter worth about $33,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Key Chevron News

Investors following CVX have been watching these news items:

• Positive Sentiment: Chevron’s third-quarter adjusted profit nearly tripled to $10.4 billion. Strong refining margins lifted downstream earnings 333%, and refineries ran at 98% capacity, helping offset a 2.6% decline in production. Coverage also cited record U.S. refinery throughput, strong cash flow and rising estimates. Article: Chevron’s Production Fell. Its Profit Nearly Tripled.
• Positive Sentiment: Chevron plans to restart its Ralston biodiesel facility in Iowa, supported by a feedstock supply agreement with Landus Cooperative. The move could add to its renewable-fuels activity, though the articles provided no financial contribution estimates. Article: Chevron to Restart Ralston Biodiesel Facility in Iowa
• Negative Sentiment: Sanford C. Bernstein cut its price target to $233 from $248 and maintained a “market perform” rating, signaling less upside in its updated view. Article: Bernstein Lowers Chevron Price Target

Insider Activity

In other news, Vice Chairman Mark Nelson sold 112,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 10th. The shares were sold at an average price of $210.48, for a total value of $23,573,760.00. Following the completion of the transaction, the insider owned 11,647 shares in the company, valued at $2,451,460.56. This represents a 90.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider R. Pate sold 40,700 shares of the stock in a transaction on Tuesday, October 20th. The stock was sold at an average price of $226.65, for a total transaction of $9,224,655.00. Following the sale, the insider directly owned 8,791 shares of the company’s stock, valued at $1,992,480.15. This represents a 82.24% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 174,370 shares of company stock worth $37,224,309 over the last quarter. 0.56% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have issued reports on CVX shares. Royal Bank Of Canada upped their target price on shares of Chevron from $220.00 to $230.00 and gave the company an “outperform” rating in a research report on Thursday, September 24th. The Goldman Sachs Group reiterated a “buy” rating and set a $241.00 price target on shares of Chevron in a research report on Tuesday, October 20th. BNP Paribas Exane lowered their price target on shares of Chevron from $230.00 to $224.00 and set an “outperform” rating for the company in a research report on Friday, July 17th. Wells Fargo & Company boosted their price target on shares of Chevron from $230.00 to $268.00 and gave the stock an “overweight” rating in a research note on Monday, November 2nd. Finally, Freedom Broker upgraded shares of Chevron from a “sell” rating to a “hold” rating and set a $218.00 price objective on the stock in a report on Thursday, November 5th. One analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $222.81.

Chevron Trading Up 1.6%

NYSE:CVX opened at $216.64 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.34 and a quick ratio of 1.07. The business’s 50-day simple moving average is $215.33 and its 200-day simple moving average is $195.33. Chevron Corporation has a fifty-two week low of $146.49 and a fifty-two week high of $236.48. The stock has a market capitalization of $425.78 billion, a PE ratio of 15.85, a price-to-earnings-growth ratio of 0.50 and a beta of 0.47.

Chevron (NYSE:CVX) last posted its earnings results on Friday, October 30th. The oil and gas company reported $5.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.87 by $0.41. The business had revenue of $65.24 billion during the quarter, compared to analysts’ expectations of $61.82 billion. Chevron had a return on equity of 14.49% and a net margin of 11.56%. Chevron’s revenue for the quarter was up 36.3% compared to the same quarter last year. During the same period in the prior year, the business earned $1.85 EPS. Sell-side analysts expect that Chevron Corporation will post 18.64 earnings per share for the current fiscal year.

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 10th. Shareholders of record on Wednesday, November 18th will be paid a $1.78 dividend. The ex-dividend date of this dividend is Wednesday, November 18th. This represents a $7.12 dividend on an annualized basis and a yield of 3.3%. Chevron’s payout ratio is presently 52.08%.

Chevron Company Profile

Chevron Corporation (NYSE:CVX) is an integrated energy company engaged in the exploration, development, production, transportation and sale of crude oil and natural gas. Its upstream operations include oil and gas exploration and production, while its downstream business includes refining crude oil, marketing fuels and manufacturing and distributing lubricants, petrochemicals and fuel additives. The company also invests in lower-carbon businesses and technologies, including renewable fuels, carbon capture and storage, hydrogen and other opportunities intended to reduce emissions from its operations and energy products.