Quotient Investors LLC reduced its position in shares of Chevron Co. (NYSE:CVX) by 8.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,200 shares of the oil and gas company’s stock after selling 900 shares during the period. Quotient Investors LLC’s holdings in Chevron were worth $1,199,000 as of its most recent SEC filing.
Several other institutional investors have also recently bought and sold shares of CVX. New Capital Management LP lifted its holdings in Chevron by 0.3% in the first quarter. New Capital Management LP now owns 1,455 shares of the oil and gas company’s stock worth $156,000 after buying an additional 4 shares during the period. Valley National Advisers Inc. lifted its holdings in Chevron by 0.4% in the second quarter. Valley National Advisers Inc. now owns 2,612 shares of the oil and gas company’s stock worth $273,000 after buying an additional 11 shares during the period. Deschutes Portfolio Strategy LLC lifted its holdings in Chevron by 0.5% in the second quarter. Deschutes Portfolio Strategy LLC now owns 2,889 shares of the oil and gas company’s stock worth $301,000 after buying an additional 13 shares during the period. Regis Management CO LLC lifted its holdings in Chevron by 0.4% in the second quarter. Regis Management CO LLC now owns 3,269 shares of the oil and gas company’s stock worth $341,000 after buying an additional 14 shares during the period. Finally, Keel Point LLC increased its stake in shares of Chevron by 0.5% during the second quarter. Keel Point LLC now owns 2,759 shares of the oil and gas company’s stock valued at $288,000 after purchasing an additional 14 shares in the last quarter. Institutional investors own 63.80% of the company’s stock.
Shares of Chevron Co. (CVX) traded up $3.91 during trading on Thursday, hitting $132.57. 11,640,000 shares of the stock traded hands, compared to its average volume of 5,190,000. The stock has a market cap of $251,800.00, a PE ratio of 38.65, a PEG ratio of 2.97 and a beta of 1.21. Chevron Co. has a 1-year low of $102.55 and a 1-year high of $133.32. 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 (NYSE:CVX) last issued its quarterly earnings results on Friday, October 27th. The oil and gas company reported $1.03 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.99 by $0.04. The business had revenue of $36.21 billion for the quarter, compared to analysts’ expectations of $34.06 billion. Chevron had a net margin of 4.79% and a return on equity of 4.59%. The company’s revenue was up 20.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.68 EPS. equities research analysts expect that Chevron Co. will post 4.35 EPS for the current fiscal year.
In related news, VP R. Hewitt Pate sold 25,500 shares of Chevron stock in a transaction on Monday, October 16th. The shares were sold at an average price of $120.00, for a total transaction of $3,060,000.00. Following the transaction, the vice president now owns 25,500 shares in the company, valued at approximately $3,060,000. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Vice Chairman Michael K. Wirth sold 1,229 shares of Chevron stock in a transaction on Tuesday, November 7th. The shares were sold at an average price of $118.00, for a total transaction of $145,022.00. Following the transaction, the insider now owns 1,229 shares in the company, valued at approximately $145,022. The disclosure for this sale can be found here. Insiders have sold a total of 314,000 shares of company stock worth $36,540,822 in the last quarter. Corporate insiders own 0.38% of the company’s stock.
A number of brokerages have weighed in on CVX. BMO Capital Markets raised shares of Chevron from a “market perform” rating to an “outperform” rating and raised their target price for the company from $120.00 to $140.00 in a research note on Thursday. Bank of America downgraded shares of Chevron from a “buy” rating to a “neutral” rating and set a $125.00 target price for the company. in a research note on Thursday, January 4th. They noted that the move was a valuation call. Zacks Investment Research raised shares of Chevron from a “hold” rating to a “buy” rating and set a $140.00 target price for the company in a research note on Wednesday, December 27th. Vetr raised shares of Chevron from a “hold” rating to a “buy” rating and set a $134.35 target price for the company in a research note on Tuesday, December 26th. Finally, Scotiabank reaffirmed a “buy” rating and set a $130.00 target price on shares of Chevron in a research note on Friday, December 22nd. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $126.06.
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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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