Chevron Co. (NYSE:CVX) Shares Sold by FUKOKU MUTUAL LIFE INSURANCE Co

FUKOKU MUTUAL LIFE INSURANCE Co decreased its holdings in Chevron Co. (NYSE:CVX) by 0.2% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 171,812 shares of the oil and gas company’s stock after selling 407 shares during the quarter. Chevron accounts for approximately 1.8% of FUKOKU MUTUAL LIFE INSURANCE Co’s holdings, making the stock its 20th largest position. FUKOKU MUTUAL LIFE INSURANCE Co’s holdings in Chevron were worth $25,303,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the business. China Universal Asset Management Co. Ltd. bought a new position in shares of Chevron during the first quarter worth $566,000. Empowered Funds LLC lifted its stake in shares of Chevron by 5.4% in the first quarter. Empowered Funds LLC now owns 429,000 shares of the oil and gas company’s stock valued at $67,670,000 after buying an additional 22,047 shares in the last quarter. Wintrust Investments LLC boosted its position in Chevron by 1.6% in the first quarter. Wintrust Investments LLC now owns 10,066 shares of the oil and gas company’s stock worth $1,588,000 after purchasing an additional 158 shares during the last quarter. M&G Plc bought a new position in shares of Chevron in the first quarter worth $16,280,000. Finally, Prevail Innovative Wealth Advisors LLC grew its position in Chevron by 38.4% in the first quarter. Prevail Innovative Wealth Advisors LLC now owns 14,939 shares of the oil and gas company’s stock worth $2,356,000 after acquiring an additional 4,148 shares in the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Trading Up 1.9 %

NYSE CVX opened at $161.77 on Friday. Chevron Co. has a 12 month low of $135.37 and a 12 month high of $167.11. The stock’s fifty day moving average price is $148.51 and its 200-day moving average price is $152.65. The stock has a market cap of $290.72 billion, a P/E ratio of 17.78, a P/E/G ratio of 3.57 and a beta of 1.09. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 EPS for the quarter, beating analysts’ consensus estimates of $2.47 by $0.04. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The firm had revenue of $50.67 billion during the quarter, compared to the consensus estimate of $48.86 billion. During the same quarter last year, the firm earned $3.05 EPS. The firm’s revenue for the quarter was down 6.3% compared to the same quarter last year. As a group, equities analysts forecast that Chevron Co. will post 10.55 EPS for the current fiscal year.

Chevron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th will be issued a $1.63 dividend. The ex-dividend date is Monday, November 18th. This represents a $6.52 dividend on an annualized basis and a yield of 4.03%. Chevron’s payout ratio is 71.65%.

Wall Street Analysts Forecast Growth

Several research firms have commented on CVX. Barclays boosted their target price on Chevron from $168.00 to $174.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Royal Bank of Canada raised their price objective on Chevron from $170.00 to $175.00 and gave the company an “outperform” rating in a research report on Monday, November 4th. Truist Financial upped their price target on shares of Chevron from $150.00 to $155.00 and gave the company a “hold” rating in a report on Monday, November 4th. Bank of America initiated coverage on shares of Chevron in a research note on Thursday, October 17th. They set a “buy” rating and a $168.00 target price on the stock. Finally, Wells Fargo & Company lowered their price target on Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a research report on Friday, September 27th. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, Chevron presently has an average rating of “Moderate Buy” and a consensus target price of $174.93.

About Chevron

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.