Nuveen Asset Management LLC Sells 1,227,028 Shares of Chevron Co. (NYSE:CVX)

Nuveen Asset Management LLC lessened its holdings in shares of Chevron Co. (NYSE:CVXGet Rating) by 9.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,608,105 shares of the oil and gas company’s stock after selling 1,227,028 shares during the period. Nuveen Asset Management LLC’s holdings in Chevron were worth $1,362,211,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. Roble Belko & Company Inc increased its stake in shares of Chevron by 26.6% during the fourth quarter. Roble Belko & Company Inc now owns 352 shares of the oil and gas company’s stock worth $41,000 after purchasing an additional 74 shares in the last quarter. Tempus Wealth Planning LLC increased its stake in shares of Chevron by 1.8% during the fourth quarter. Tempus Wealth Planning LLC now owns 4,281 shares of the oil and gas company’s stock worth $502,000 after purchasing an additional 76 shares in the last quarter. Cadent Capital Advisors LLC increased its stake in shares of Chevron by 3.3% during the fourth quarter. Cadent Capital Advisors LLC now owns 2,543 shares of the oil and gas company’s stock worth $298,000 after purchasing an additional 81 shares in the last quarter. Holderness Investments Co. increased its stake in shares of Chevron by 0.7% during the fourth quarter. Holderness Investments Co. now owns 11,166 shares of the oil and gas company’s stock worth $1,310,000 after purchasing an additional 82 shares in the last quarter. Finally, Nadler Financial Group Inc. increased its stake in shares of Chevron by 4.2% during the fourth quarter. Nadler Financial Group Inc. now owns 2,089 shares of the oil and gas company’s stock worth $245,000 after purchasing an additional 85 shares in the last quarter. Institutional investors own 65.89% of the company’s stock.

Chevron stock traded up $1.18 during midday trading on Thursday, hitting $176.59. 11,205,323 shares of the company’s stock were exchanged, compared to its average volume of 15,004,754. Chevron Co. has a 12-month low of $92.86 and a 12-month high of $177.93. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.22 and a current ratio of 1.43. The stock has a market cap of $346.97 billion, a price-to-earnings ratio of 16.60, a price-to-earnings-growth ratio of 0.85 and a beta of 1.09. The firm’s 50 day simple moving average is $166.01 and its 200 day simple moving average is $141.92.

Chevron (NYSE:CVXGet Rating) last issued its quarterly earnings data on Friday, April 29th. The oil and gas company reported $3.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.44 by ($0.08). Chevron had a return on equity of 14.66% and a net margin of 11.10%. The business had revenue of $54.37 billion for the quarter, compared to analysts’ expectations of $54.96 billion. During the same period in the previous year, the business posted $0.90 earnings per share. The company’s revenue for the quarter was up 69.8% on a year-over-year basis. On average, equities research analysts forecast that Chevron Co. will post 16.98 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 10th. Shareholders of record on Thursday, May 19th will be given a dividend of $1.42 per share. This represents a $5.68 annualized dividend and a yield of 3.22%. The ex-dividend date of this dividend is Wednesday, May 18th. Chevron’s payout ratio is currently 53.38%.

In other news, VP Colin E. Parfitt sold 31,000 shares of the firm’s stock in a transaction on Friday, February 25th. The shares were sold at an average price of $140.00, for a total value of $4,340,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Enrique Hernandez, Jr. sold 39,773 shares of the firm’s stock in a transaction dated Monday, May 16th. The shares were sold at an average price of $173.99, for a total transaction of $6,920,104.27. Following the completion of the sale, the director now owns 22,978 shares of the company’s stock, valued at approximately $3,997,942.22. The disclosure for this sale can be found here. Insiders sold a total of 427,588 shares of company stock valued at $69,778,535 in the last 90 days. Company insiders own 0.32% of the company’s stock.

Several brokerages recently issued reports on CVX. Morgan Stanley upped their price objective on shares of Chevron from $166.00 to $188.00 and gave the company an “equal weight” rating in a research note on Friday, April 22nd. JPMorgan Chase & Co. cut shares of Chevron from a “neutral” rating to an “underweight” rating and set a $169.00 price objective for the company. in a research note on Friday, March 11th. Bank of America boosted their target price on shares of Chevron from $154.00 to $160.00 and gave the company a “buy” rating in a report on Tuesday, February 15th. Wells Fargo & Company boosted their target price on shares of Chevron from $150.00 to $184.00 and gave the company an “overweight” rating in a report on Friday, March 11th. Finally, BMO Capital Markets boosted their target price on shares of Chevron from $140.00 to $170.00 in a report on Wednesday, March 2nd. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $168.76.

Chevron Profile (Get Rating)

Chevron Corporation, through its subsidiaries, engages in integrated energy and chemicals operations worldwide. 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 associated with liquefied natural gas; transportation of crude oil through pipelines; and transportation, storage, and marketing of natural gas, as well as operates a gas-to-liquids plant.

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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