Financial Architects Inc Cuts Stake in Chevron Co. (CVX)

Financial Architects Inc lowered its position in shares of Chevron Co. (NYSE:CVX) by 13.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,827 shares of the oil and gas company’s stock after selling 1,658 shares during the period. Financial Architects Inc’s holdings in Chevron were worth $1,324,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Private Capital Group LLC boosted its holdings in Chevron by 4.6% in the second quarter. Private Capital Group LLC now owns 9,281 shares of the oil and gas company’s stock worth $1,173,000 after acquiring an additional 412 shares in the last quarter. Strategic Financial Services Inc boosted its holdings in Chevron by 1.1% in the second quarter. Strategic Financial Services Inc now owns 37,454 shares of the oil and gas company’s stock worth $4,735,000 after acquiring an additional 413 shares in the last quarter. EFG Asset Management Americas Corp. boosted its holdings in Chevron by 1.2% in the third quarter. EFG Asset Management Americas Corp. now owns 35,320 shares of the oil and gas company’s stock worth $4,319,000 after acquiring an additional 418 shares in the last quarter. Burns J W & Co. Inc. NY boosted its holdings in Chevron by 0.6% in the third quarter. Burns J W & Co. Inc. NY now owns 66,535 shares of the oil and gas company’s stock worth $8,136,000 after acquiring an additional 421 shares in the last quarter. Finally, Andesa Financial Management Inc. boosted its holdings in Chevron by 2.9% in the second quarter. Andesa Financial Management Inc. now owns 15,072 shares of the oil and gas company’s stock worth $1,906,000 after acquiring an additional 426 shares in the last quarter. Hedge funds and other institutional investors own 64.57% of the company’s stock.

Shares of CVX stock opened at $114.37 on Friday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.22 and a quick ratio of 1.01. The company has a market cap of $213.93 billion, a P/E ratio of 17.17 and a beta of 1.09. Chevron Co. has a twelve month low of $100.22 and a twelve month high of $132.67.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, November 2nd. The oil and gas company reported $2.11 earnings per share for the quarter, beating the consensus estimate of $2.06 by $0.05. The company had revenue of $43.99 billion during the quarter, compared to analysts’ expectations of $47.17 billion. Chevron had a return on equity of 8.19% and a net margin of 8.79%. Chevron’s quarterly revenue was up 21.5% on a year-over-year basis. During the same period last year, the business earned $1.03 earnings per share. As a group, equities analysts predict that Chevron Co. will post 7.81 earnings per share for the current year.

CVX has been the subject of a number of research reports. Zacks Investment Research raised Chevron from a “hold” rating to a “buy” rating and set a $137.00 target price for the company in a report on Monday, October 1st. Goldman Sachs Group raised Chevron from a “buy” rating to a “conviction-buy” rating in a report on Tuesday, October 2nd. Redburn Partners downgraded Chevron from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $130.00 to $115.00 in a report on Wednesday, October 3rd. Piper Jaffray Companies reaffirmed an “overweight” rating on shares of Chevron in a report on Tuesday, October 23rd. Finally, Credit Suisse Group raised Chevron from a “neutral” rating to an “outperform” rating and set a $138.00 target price for the company in a report on Monday, November 5th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. Chevron has an average rating of “Buy” and an average price target of $133.57.

In related news, insider James William Johnson sold 9,500 shares of Chevron stock in a transaction that occurred on Thursday, November 29th. The stock was sold at an average price of $118.59, for a total transaction of $1,126,605.00. Following the completion of the transaction, the insider now directly owns 9,500 shares in the company, valued at $1,126,605. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last quarter, insiders have sold 19,000 shares of company stock valued at $2,233,925. 0.46% of the stock is owned by company insiders.

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Chevron Profile

Chevron Corporation, through its subsidiaries, engages in integrated energy, chemicals, and petroleum operations worldwide. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, and production of crude oil and natural gas; processing, liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and transportation, storage, and marketing of natural gas, as well as operates a gas-to-liquids plant.

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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