Jennison Associates LLC decreased its position in Chevron Co. (NYSE:CVX) by 2.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,032,057 shares of the oil and gas company’s stock after selling 20,708 shares during the quarter. Jennison Associates LLC owned 0.05% of Chevron worth $121,267,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Valley National Advisers Inc. increased its position in shares of 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 valued at $273,000 after acquiring an additional 11 shares during the last quarter. Deschutes Portfolio Strategy LLC increased its position in shares of 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 valued at $301,000 after acquiring an additional 13 shares during the last quarter. Regis Management CO LLC increased its position in shares of 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 valued at $341,000 after acquiring an additional 14 shares during the last quarter. Keel Point LLC increased its position in shares of Chevron by 0.5% in the second quarter. Keel Point LLC now owns 2,759 shares of the oil and gas company’s stock valued at $288,000 after acquiring an additional 14 shares during the last quarter. Finally, FCG Advisors LLC increased its position in shares of Chevron by 0.4% in the second quarter. FCG Advisors LLC now owns 3,907 shares of the oil and gas company’s stock valued at $408,000 after acquiring an additional 15 shares during the last quarter. 63.84% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Chevron Co. (NYSE CVX) opened at $131.30 on Friday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.04 and a quick ratio of 0.84. Chevron Co. has a 1 year low of $102.55 and a 1 year high of $133.88. The firm has a market cap of $249,387.81, a P/E ratio of 36.78, a PEG ratio of 2.82 and a beta of 1.21.
Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, October 27th. The oil and gas company reported $1.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.99 by $0.04. Chevron had a net margin of 4.79% and a return on equity of 4.59%. The company had revenue of $36.21 billion during the quarter, compared to the consensus estimate of $34.06 billion. During the same period in the previous year, the business earned $0.68 earnings per share. The firm’s quarterly revenue was up 20.1% on a year-over-year basis. analysts predict that Chevron Co. will post 4.37 EPS for the current year.
In other news, CFO Patricia E. Yarrington sold 116,857 shares of Chevron stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $115.29, for a total value of $13,472,443.53. Following the completion of the sale, the chief financial officer now directly owns 39,506 shares in the company, valued at $4,554,646.74. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Pierre R. Breber sold 23,250 shares of Chevron stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $116.85, for a total transaction of $2,716,762.50. The disclosure for this sale can be found here. Over the last quarter, insiders sold 288,500 shares of company stock valued at $33,480,822. 0.38% of the stock is owned by company insiders.
A number of analysts recently issued reports on the company. Barclays raised Chevron to an “overweight” rating in a research report on Wednesday, October 11th. Vetr downgraded Chevron from a “buy” rating to a “hold” rating and set a $134.35 target price on the stock. in a research report on Thursday, January 11th. Zacks Investment Research raised Chevron from a “hold” rating to a “buy” rating and set a $129.00 target price on the stock in a research report on Friday, November 17th. TheStreet raised Chevron from a “c+” rating to a “b” rating in a research report on Monday, October 23rd. Finally, Royal Bank of Canada set a $110.00 target price on Chevron and gave the company a “sell” rating in a research report on Wednesday, December 20th. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and fourteen have issued a buy rating to the stock. Chevron currently has an average rating of “Hold” and an average price target of $126.06.
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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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