Wright Investors Service Inc. Sells 3,177 Shares of Chevron Co. (NYSE:CVX)

Wright Investors Service Inc. cut its stake in Chevron Co. (NYSE:CVX) by 12.3% in the 4th quarter, Holdings Channel reports. The firm owned 22,578 shares of the oil and gas company’s stock after selling 3,177 shares during the period. Wright Investors Service Inc.’s holdings in Chevron were worth $3,368,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in shares of Chevron by 0.3% in the 3rd quarter. Vanguard Group Inc. now owns 161,924,375 shares of the oil and gas company’s stock worth $27,303,688,000 after acquiring an additional 458,080 shares in the last quarter. Morgan Stanley boosted its holdings in shares of Chevron by 7.0% in the third quarter. Morgan Stanley now owns 34,166,899 shares of the oil and gas company’s stock worth $5,761,223,000 after buying an additional 2,244,995 shares during the last quarter. Moneta Group Investment Advisors LLC boosted its holdings in shares of Chevron by 104,997.3% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 24,490,824 shares of the oil and gas company’s stock worth $4,395,858,000 after buying an additional 24,467,521 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Chevron by 1.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 24,236,141 shares of the oil and gas company’s stock worth $4,059,834,000 after acquiring an additional 368,898 shares during the period. Finally, Northern Trust Corp raised its stake in Chevron by 2.6% during the 3rd quarter. Northern Trust Corp now owns 22,705,118 shares of the oil and gas company’s stock worth $3,828,537,000 after acquiring an additional 569,850 shares during the period. 72.42% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on CVX. Barclays assumed coverage on shares of Chevron in a research report on Wednesday, April 10th. They set an “overweight” rating and a $203.00 price objective on the stock. Jefferies Financial Group raised shares of Chevron from a “hold” rating to a “buy” rating and set a $184.00 target price for the company in a research note on Monday, January 8th. Scotiabank upgraded shares of Chevron from a “sector perform” rating to a “sector outperform” rating and boosted their target price for the stock from $170.00 to $195.00 in a report on Thursday, April 11th. Raymond James upped their price objective on shares of Chevron from $170.00 to $174.00 and gave the company an “outperform” rating in a report on Monday. Finally, Wells Fargo & Company upped their target price on Chevron from $185.00 to $198.00 and gave the company an “overweight” rating in a research report on Thursday, April 4th. Six equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, Chevron presently has an average rating of “Moderate Buy” and an average target price of $184.75.

Chevron Stock Up 0.9 %

NYSE CVX traded up $1.41 during trading hours on Thursday, reaching $157.81. 1,337,851 shares of the company traded hands, compared to its average volume of 8,478,950. The stock has a market capitalization of $293.10 billion, a PE ratio of 13.89, a PEG ratio of 2.30 and a beta of 1.12. Chevron Co. has a 12 month low of $139.62 and a 12 month high of $172.38. The company has a 50 day moving average of $155.19 and a two-hundred day moving average of $151.86. The company has a current ratio of 1.27, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last issued its earnings results on Friday, February 2nd. The oil and gas company reported $3.45 EPS for the quarter, beating analysts’ consensus estimates of $3.19 by $0.26. Chevron had a return on equity of 15.24% and a net margin of 10.63%. The company had revenue of $47.18 billion during the quarter, compared to the consensus estimate of $50.93 billion. During the same period in the previous year, the firm posted $4.09 earnings per share. Chevron’s quarterly revenue was down 16.5% compared to the same quarter last year. As a group, equities analysts expect that Chevron Co. will post 13.56 earnings per share for the current year.

Chevron Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Friday, February 16th were issued a dividend of $1.63 per share. This is a boost from Chevron’s previous quarterly dividend of $1.51. The ex-dividend date was Thursday, February 15th. This represents a $6.52 annualized dividend and a yield of 4.13%. Chevron’s payout ratio is presently 57.39%.

Insider Buying and Selling at Chevron

In other Chevron news, VP Alana K. Knowles sold 2,800 shares of the business’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $160.09, for a total transaction of $448,252.00. Following the sale, 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 document filed with the SEC, which is available through the SEC website. 0.18% 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.