One Capital Management LLC lifted its position in shares of Chevron Co. (NYSE:CVX) by 1.6% in the third quarter, HoldingsChannel.com reports. The fund owned 27,877 shares of the oil and gas company’s stock after buying an additional 450 shares during the period. One Capital Management LLC’s holdings in Chevron were worth $3,306,000 at the end of the most recent reporting period.
Several other institutional investors have also recently modified their holdings of the company. First Financial Bank Trust Division lifted its stake in shares of Chevron by 18.4% in the second quarter. First Financial Bank Trust Division now owns 74,960 shares of the oil and gas company’s stock valued at $9,328,000 after buying an additional 11,667 shares in the last quarter. Private Trust Co. NA lifted its stake in shares of Chevron by 6.5% in the second quarter. Private Trust Co. NA now owns 42,640 shares of the oil and gas company’s stock valued at $5,306,000 after buying an additional 2,617 shares in the last quarter. Fulton Bank N.A. lifted its stake in shares of Chevron by 0.4% in the second quarter. Fulton Bank N.A. now owns 53,721 shares of the oil and gas company’s stock valued at $6,685,000 after buying an additional 210 shares in the last quarter. Stillwater Investment Management LLC lifted its position in shares of Chevron by 3.8% during the second quarter. Stillwater Investment Management LLC now owns 2,943 shares of the oil and gas company’s stock valued at $366,000 after purchasing an additional 109 shares in the last quarter. Finally, Ellenbecker Investment Group lifted its position in shares of Chevron by 8.7% during the second quarter. Ellenbecker Investment Group now owns 2,847 shares of the oil and gas company’s stock valued at $354,000 after purchasing an additional 229 shares in the last quarter. 65.62% of the stock is owned by institutional investors.
A number of research analysts recently weighed in on the stock. BMO Capital Markets assumed coverage on shares of Chevron in a research report on Tuesday, August 20th. They set an “outperform” rating and a $165.00 price target on the stock. Cowen set a $140.00 price target on shares of Chevron and gave the company a “buy” rating in a research report on Tuesday, October 15th. Independent Research set a $127.00 price target on shares of Chevron and gave the company a “neutral” rating in a research report on Thursday, August 29th. Barclays initiated coverage on shares of Chevron in a research report on Monday, August 19th. They set an “overweight” rating and a $145.00 price target on the stock. Finally, Morgan Stanley reduced their price objective on shares of Chevron from $146.00 to $144.00 and set an “overweight” rating on the stock in a research report on Friday, July 12th. Five analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $137.47.
In other news, CFO Pierre R. Breber sold 15,000 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $124.97, for a total value of $1,874,550.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Michael K. Wirth sold 33,750 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $125.00, for a total transaction of $4,218,750.00. Following the completion of the transaction, the chief executive officer now owns 33,750 shares in the company, valued at approximately $4,218,750. The disclosure for this sale can be found here. Insiders sold a total of 86,750 shares of company stock worth $10,648,200 over the last ninety days. Insiders own 0.31% of the company’s stock.
Shares of NYSE:CVX traded up $0.86 during midday trading on Tuesday, reaching $117.47. The company’s stock had a trading volume of 74,579 shares, compared to its average volume of 5,408,919. The firm has a 50 day moving average of $118.29 and a 200-day moving average of $120.36. The firm has a market capitalization of $222.21 billion, a P/E ratio of 14.25, a PEG ratio of 4.66 and a beta of 0.99. The company has a quick ratio of 0.91, a current ratio of 1.15 and a debt-to-equity ratio of 0.16. Chevron Co. has a 12-month low of $100.22 and a 12-month high of $127.34.
Chevron (NYSE:CVX) last released its earnings results on Friday, August 2nd. The oil and gas company reported $2.27 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.74 by $0.53. The firm had revenue of $38.85 billion for the quarter, compared to the consensus estimate of $40.14 billion. Chevron had a net margin of 9.18% and a return on equity of 9.58%. The company’s revenue was down 8.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.78 EPS. On average, research analysts predict that Chevron Co. will post 6.16 EPS for the current year.
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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