Amundi Pioneer Asset Management Inc. trimmed its position in Chevron Co. (NYSE:CVX) by 70.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 53,947 shares of the oil and gas company’s stock after selling 126,073 shares during the quarter. Amundi Pioneer Asset Management Inc.’s holdings in Chevron were worth $6,339,000 as of its most recent SEC filing.
Several other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in Chevron by 2.9% during the second quarter. Vanguard Group Inc. now owns 139,626,287 shares of the oil and gas company’s stock worth $14,567,210,000 after acquiring an additional 3,920,240 shares during the period. BlackRock Inc. grew its holdings in Chevron by 1.6% during the second quarter. BlackRock Inc. now owns 124,678,992 shares of the oil and gas company’s stock worth $13,007,759,000 after acquiring an additional 1,975,865 shares during the period. Capital World Investors grew its holdings in Chevron by 9.8% during the second quarter. Capital World Investors now owns 35,546,848 shares of the oil and gas company’s stock worth $3,708,603,000 after acquiring an additional 3,182,250 shares during the period. Northern Trust Corp grew its holdings in Chevron by 0.6% during the second quarter. Northern Trust Corp now owns 26,153,161 shares of the oil and gas company’s stock worth $2,728,558,000 after acquiring an additional 157,021 shares during the period. Finally, Franklin Resources Inc. grew its holdings in Chevron by 0.3% during the second quarter. Franklin Resources Inc. now owns 15,609,647 shares of the oil and gas company’s stock worth $1,628,554,000 after acquiring an additional 49,083 shares during the period. Hedge funds and other institutional investors own 64.06% of the company’s stock.
Shares of Chevron Co. (NYSE CVX) opened at $113.50 on Friday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.04 and a quick ratio of 0.84. The stock has a market capitalization of $217,880.00, a P/E ratio of 23.45, a PEG ratio of 2.21 and a beta of 1.15. Chevron Co. has a 12 month low of $102.55 and a 12 month high of $133.88.
The company also recently declared a quarterly dividend, which will be paid on Monday, March 12th. Stockholders of record on Friday, February 16th will be paid a $1.12 dividend. The ex-dividend date of this dividend is Thursday, February 15th. This is a positive change from Chevron’s previous quarterly dividend of $1.08. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.95%. Chevron’s payout ratio is currently 89.26%.
Several analysts recently commented on the company. Royal Bank of Canada raised Chevron from an “underperform” rating to a “sector perform” rating and set a $125.00 target price on the stock in a report on Friday. Barclays raised Chevron from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $130.00 to $135.00 in a report on Tuesday, February 6th. Wells Fargo & Co dropped their price objective on Chevron from $125.00 to $125.00 and set an “outperform” rating on the stock in a report on Monday, February 5th. Credit Suisse Group dropped their price objective on Chevron from $130.00 to $129.00 and set a “neutral” rating on the stock in a report on Monday, February 5th. Finally, Goldman Sachs Group lowered Chevron from a “conviction-buy” rating to a “buy” rating in a report on Monday, February 5th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $130.30.
In other news, insider Pierre R. Breber sold 23,250 shares of Chevron stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $116.85, for a total value of $2,716,762.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Michael K. Wirth sold 110,771 shares of Chevron stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $116.17, for a total value of $12,868,267.07. Following the completion of the sale, the executive vice president now directly owns 110,771 shares in the company, valued at $12,868,267.07. The disclosure for this sale can be found here. Insiders sold 287,271 shares of company stock worth $33,335,800 over the last ninety days. Corporate insiders own 0.38% of the company’s stock.
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Chevron Company Profile
Chevron Corporation (Chevron) manages its investments in subsidiaries and affiliates, and provides administrative, financial, management and technology support to the United States and international subsidiaries that engage in integrated energy and chemicals operations. The Company operates through two business segments: Upstream and Downstream.
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