MetLife Investment Management LLC Sells 14,661 Shares of Chevron Co. (NYSE:CVX)

MetLife Investment Management LLC cut its holdings in Chevron Co. (NYSE:CVX) by 3.2% in the third quarter, Holdings Channel reports. The fund owned 442,673 shares of the oil and gas company’s stock after selling 14,661 shares during the quarter. MetLife Investment Management LLC’s holdings in Chevron were worth $65,192,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Rational Advisors LLC acquired a new position in shares of Chevron during the third quarter worth $29,000. Darwin Wealth Management LLC acquired a new position in shares of Chevron in the third quarter valued at about $30,000. RPg Family Wealth Advisory LLC purchased a new position in shares of Chevron in the third quarter worth about $31,000. Anfield Capital Management LLC lifted its holdings in shares of Chevron by 118.0% during the second quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock worth $34,000 after purchasing an additional 118 shares during the period. Finally, Cyrus J. Lawrence LLC boosted its position in Chevron by 66.7% in the second quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock valued at $39,000 after buying an additional 100 shares during the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Price Performance

Chevron stock opened at $163.67 on Wednesday. The company has a fifty day simple moving average of $152.32 and a 200-day simple moving average of $152.49. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $294.13 billion, a price-to-earnings ratio of 17.86, a PEG ratio of 3.54 and a beta of 1.09. Chevron Co. has a 52-week low of $135.37 and a 52-week high of $167.11.

Chevron (NYSE:CVX) last released its quarterly earnings data 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. The company had revenue of $50.67 billion during the quarter, compared to the consensus estimate of $48.86 billion. Chevron had a net margin of 8.44% and a return on equity of 13.15%. Chevron’s quarterly revenue was down 6.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.05 EPS. On average, equities analysts anticipate that Chevron Co. will post 10.53 EPS for the current fiscal year.

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th will be paid a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 3.98%. The ex-dividend date is Monday, November 18th. Chevron’s dividend payout ratio (DPR) is currently 71.65%.

Insider Buying and Selling

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 shares were sold at an average price of $160.13, for a total value of $26,357,398.00. Following the transaction, 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.20% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research analysts recently issued reports on CVX shares. Scotiabank reduced their target price on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Citigroup raised Chevron from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $145.00 to $185.00 in a report on Tuesday. DZ Bank upgraded Chevron from a “hold” rating to a “buy” rating and set a $170.00 price target for the company in a research report on Tuesday, November 5th. UBS Group upped their price objective on Chevron from $192.00 to $194.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Finally, Royal Bank of Canada lifted their target price on shares of Chevron from $170.00 to $175.00 and gave the company an “outperform” rating in a report on Monday, November 4th. Four equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Chevron currently has a consensus rating of “Moderate Buy” and an average target price of $175.56.

Chevron Company 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.