Capital Investment Advisory Services LLC lifted its position in Chevron Co. (NYSE:CVX) by 9.9% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 16,588 shares of the oil and gas company’s stock after buying an additional 1,501 shares during the period. Chevron makes up about 1.2% of Capital Investment Advisory Services LLC’s portfolio, making the stock its 18th largest position. Capital Investment Advisory Services LLC’s holdings in Chevron were worth $1,949,000 at the end of the most recent reporting period.
Several other institutional investors have also recently modified their holdings of the company. Meridian Wealth Management LLC boosted its stake in Chevron by 47.8% in the 1st quarter. Meridian Wealth Management LLC now owns 12,194 shares of the oil and gas company’s stock worth $1,309,000 after purchasing an additional 3,941 shares in the last quarter. New Capital Management LP boosted its stake in Chevron by 0.3% in the 1st quarter. New Capital Management LP now owns 1,455 shares of the oil and gas company’s stock worth $156,000 after purchasing an additional 4 shares in the last quarter. Brighton Jones LLC boosted its stake in Chevron by 125.4% in the 1st quarter. Brighton Jones LLC now owns 8,183 shares of the oil and gas company’s stock worth $879,000 after purchasing an additional 4,552 shares in the last quarter. Bath Savings Trust Co boosted its stake in Chevron by 2.0% in the 2nd quarter. Bath Savings Trust Co now owns 17,398 shares of the oil and gas company’s stock worth $1,815,000 after purchasing an additional 343 shares in the last quarter. Finally, Toth Financial Advisory Corp acquired a new stake in Chevron in the 2nd quarter worth approximately $312,000. 63.80% of the stock is currently owned by hedge funds and other institutional investors.
In related news, CFO Patricia E. Yarrington sold 13,143 shares of the business’s stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $115.01, for a total value of $1,511,576.43. Following the completion of the sale, the chief financial officer now owns 17,981 shares of the company’s stock, valued at approximately $2,067,994.81. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Vice Chairman Michael K. Wirth sold 1,229 shares of the company’s stock in a transaction on Tuesday, November 7th. The stock was sold at an average price of $118.00, for a total transaction of $145,022.00. Following the sale, the insider now directly owns 1,229 shares of the company’s stock, valued at approximately $145,022. The disclosure for this sale can be found here. In the last three months, insiders sold 314,000 shares of company stock valued at $36,540,822. 0.38% of the stock is owned by insiders.
CVX has been the subject of a number of recent analyst reports. Scotiabank reiterated a “buy” rating on shares of Chevron in a research note on Friday, September 15th. JPMorgan Chase & Co. restated an “overweight” rating on shares of Chevron in a research note on Saturday, September 16th. Cowen restated a “buy” rating and set a $122.00 price objective on shares of Chevron in a research note on Tuesday, September 19th. Goldman Sachs Group restated a “buy” rating and set a $123.00 price objective (up from $118.00) on shares of Chevron in a research note on Tuesday, September 19th. Finally, Wells Fargo & Co restated a “market perform” rating and set a $108.00 price objective (up from $100.00) on shares of Chevron in a research note on Tuesday, October 3rd. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have given a buy rating to the company’s stock. Chevron currently has a consensus rating of “Hold” and an average target price of $125.15.
Shares of Chevron Co. (NYSE:CVX) opened at $128.66 on Thursday. The company has a market cap of $244,370.00, a price-to-earnings ratio of 37.51, a P/E/G ratio of 2.97 and a beta of 1.21. The company has a quick ratio of 0.84, a current ratio of 1.04 and a debt-to-equity ratio of 0.23. Chevron Co. has a 1-year low of $102.55 and a 1-year high of $128.94.
Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, October 27th. The oil and gas company reported $1.03 EPS for the quarter, topping the consensus estimate of $0.99 by $0.04. The company had revenue of $36.21 billion during the quarter, compared to analyst estimates of $34.06 billion. Chevron had a net margin of 4.79% and a return on equity of 4.59%. The firm’s revenue was up 20.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.68 EPS. analysts expect that Chevron Co. will post 4.35 earnings per share for the current year.
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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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