Exchange Traded Concepts LLC Has $19.16 Million Stock Holdings in Chevron Co. (NYSE:CVX)

Exchange Traded Concepts LLC decreased its position in shares of Chevron Co. (NYSE:CVX) by 5.4% in the fourth quarter, Holdings Channel.com reports. The firm owned 132,275 shares of the oil and gas company’s stock after selling 7,508 shares during the period. Exchange Traded Concepts LLC’s holdings in Chevron were worth $19,159,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. State Street Corp grew its stake in shares of Chevron by 0.6% in the 3rd quarter. State Street Corp now owns 159,105,244 shares of the oil and gas company’s stock valued at $23,431,429,000 after buying an additional 874,962 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Chevron by 11.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 31,108,760 shares of the oil and gas company’s stock valued at $4,581,137,000 after acquiring an additional 3,203,899 shares during the last quarter. Fisher Asset Management LLC grew its position in Chevron by 3.6% in the third quarter. Fisher Asset Management LLC now owns 19,482,388 shares of the oil and gas company’s stock worth $2,869,171,000 after acquiring an additional 672,244 shares in the last quarter. Franklin Resources Inc. increased its stake in shares of Chevron by 3.4% during the 3rd quarter. Franklin Resources Inc. now owns 17,200,188 shares of the oil and gas company’s stock worth $2,610,645,000 after purchasing an additional 573,218 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Chevron by 1.8% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,790,856 shares of the oil and gas company’s stock valued at $1,147,359,000 after purchasing an additional 138,496 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Insider Activity at Chevron

In other news, CEO Michael K. Wirth sold 164,600 shares of the company’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 value of $26,357,398.00. Following the sale, the chief executive officer now directly owns 4,280 shares in the company, valued at approximately $685,356.40. This represents a 97.47 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.20% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have commented on CVX shares. Bank of America initiated coverage on shares of Chevron in a research report on Thursday, October 17th. They set a “buy” rating and a $168.00 target price on the stock. Wells Fargo & Company raised their price objective on Chevron from $171.00 to $188.00 and gave the company an “overweight” rating in a research note on Monday, December 9th. UBS Group upped their target price on Chevron from $194.00 to $195.00 and gave the stock a “buy” rating in a research report on Tuesday, December 3rd. Citigroup raised shares of Chevron from a “neutral” rating to a “buy” rating and lifted their price target for the company from $145.00 to $185.00 in a research report on Tuesday, November 26th. Finally, DZ Bank raised shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 price objective for the company in a report on Tuesday, November 5th. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $175.27.

Chevron Trading Down 0.3 %

Shares of CVX opened at $155.62 on Friday. The stock’s 50-day moving average price is $153.81 and its 200 day moving average price is $151.15. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $167.11. The firm has a market capitalization of $279.66 billion, a price-to-earnings ratio of 17.10, a P/E/G ratio of 1.37 and a beta of 1.12.

Chevron (NYSE:CVX) last issued its 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 return on equity of 13.15% and a net margin of 8.44%. The business had revenue of $50.67 billion during the quarter, compared to analyst estimates of $48.86 billion. During the same period in the prior year, the company posted $3.05 earnings per share. Chevron’s revenue was down 6.3% on a year-over-year basis. As a group, research analysts predict that Chevron Co. will post 10.18 earnings per share for the current year.

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th were given a dividend of $1.63 per share. The ex-dividend date of this dividend was Monday, November 18th. This represents a $6.52 annualized dividend and a dividend yield of 4.19%. Chevron’s dividend payout ratio (DPR) is currently 71.65%.

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.