Macguire Cheswick & Tuttle Investment Counsel LLC lessened its stake in shares of Chevron Co. (NYSE:CVX) by 1.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 57,561 shares of the oil and gas company’s stock after selling 1,000 shares during the quarter. Macguire Cheswick & Tuttle Investment Counsel LLC’s holdings in Chevron were worth $6,763,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also modified their holdings of CVX. Shine Investment Advisory Services Inc. acquired a new position in Chevron during the 2nd quarter worth approximately $106,000. Winfield Associates Inc. lifted its position in Chevron by 5.1% during the 2nd quarter. Winfield Associates Inc. now owns 1,301 shares of the oil and gas company’s stock worth $136,000 after acquiring an additional 63 shares in the last quarter. Daiwa SB Investments Ltd. lifted its position in Chevron by 438.5% during the 2nd quarter. Daiwa SB Investments Ltd. now owns 1,400 shares of the oil and gas company’s stock worth $146,000 after acquiring an additional 1,140 shares in the last quarter. Acrospire Investment Management LLC lifted its position in Chevron by 133.3% during the 2nd quarter. Acrospire Investment Management LLC now owns 1,400 shares of the oil and gas company’s stock worth $146,000 after acquiring an additional 800 shares in the last quarter. Finally, New Capital Management LP lifted its position in Chevron by 0.3% during the 1st quarter. New Capital Management LP now owns 1,455 shares of the oil and gas company’s stock worth $156,000 after acquiring an additional 4 shares in the last quarter. 63.87% of the stock is currently owned by hedge funds and other institutional investors.
Several research firms recently commented on CVX. Piper Jaffray Companies reissued a “buy” rating and set a $153.00 price target on shares of Chevron in a research report on Wednesday. Morgan Stanley lifted their price objective on Chevron from $130.00 to $145.00 and gave the stock an “overweight” rating in a report on Wednesday. Credit Suisse Group restated a “neutral” rating and set a $130.00 price objective (up from $123.00) on shares of Chevron in a report on Tuesday, January 23rd. HSBC downgraded Chevron from a “buy” rating to a “hold” rating in a report on Thursday, January 18th. Finally, Zacks Investment Research downgraded Chevron from a “strong-buy” rating to a “hold” rating in a report on Wednesday, January 17th. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and fourteen have given a buy rating to the company. Chevron presently has an average rating of “Hold” and a consensus price target of $128.61.
Shares of Chevron Co. (CVX) traded up $0.54 on Friday, reaching $131.19. The company had a trading volume of 6,310,000 shares, compared to its average volume of 5,630,000. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.84 and a current ratio of 1.04. Chevron Co. has a 52-week low of $102.55 and a 52-week high of $133.88. The company has a market cap of $249,180.00, a P/E ratio of 38.25, a P/E/G ratio of 2.70 and a beta of 1.21.
Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, October 27th. The oil and gas company reported $1.03 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.99 by $0.04. Chevron had a return on equity of 4.59% and a net margin of 4.79%. The company had revenue of $36.21 billion during the quarter, compared to analyst estimates of $34.06 billion. During the same quarter in the previous year, the firm posted $0.68 EPS. The firm’s quarterly revenue was up 20.1% on a year-over-year basis. equities analysts predict that Chevron Co. will post 4.3 EPS for the current year.
In other news, CFO Patricia E. Yarrington sold 13,143 shares of the business’s stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $115.01, for a total transaction of $1,511,576.43. Following the sale, the chief financial officer now directly owns 17,981 shares of the company’s stock, valued at $2,067,994.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Vice Chairman Michael K. Wirth sold 1,229 shares of the business’s stock in a transaction on Tuesday, November 7th. The stock was sold at an average price of $118.00, for a total value of $145,022.00. Following the sale, the insider now directly owns 1,229 shares in the company, valued at $145,022. The disclosure for this sale can be found here. In the last 90 days, insiders sold 288,500 shares of company stock valued at $33,480,822. Insiders own 0.38% of the company’s stock.
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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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