Gamco Investors INC. ET AL cut its position in shares of Chevron Co. (NYSE:CVX) by 5.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 57,505 shares of the oil and gas company’s stock after selling 3,164 shares during the period. Gamco Investors INC. ET AL’s holdings in Chevron were worth $6,768,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently modified their holdings of CVX. Solaris Asset Management LLC raised its position in shares of Chevron by 42.6% in the third quarter. Solaris Asset Management LLC now owns 1,005 shares of the oil and gas company’s stock worth $103,000 after buying an additional 300 shares in the last quarter. Winfield Associates Inc. raised its position in shares of Chevron by 1.5% in the third quarter. Winfield Associates Inc. now owns 1,151 shares of the oil and gas company’s stock worth $118,000 after buying an additional 17 shares in the last quarter. TLP Group LLC purchased a new position in shares of Chevron during the third quarter worth approximately $130,000. Mascoma Wealth Management LLC purchased a new position in shares of Chevron during the fourth quarter worth approximately $131,000. Finally, Fusion Family Wealth LLC purchased a new position in shares of Chevron during the fourth quarter worth approximately $160,000. 62.50% of the stock is currently owned by hedge funds and other institutional investors.
Chevron Co. (NYSE:CVX) traded up 0.01% during midday trading on Friday, reaching $104.89. The company had a trading volume of 5,432,604 shares. Chevron Co. has a one year low of $97.53 and a one year high of $119.00. The company has a 50-day moving average price of $108.26 and a 200-day moving average price of $110.25. The stock’s market capitalization is $198.57 billion. Chevron also saw unusually large options trading on Friday. Stock traders bought 4,483 put options on the stock. This represents an increase of approximately 343% compared to the average daily volume of 1,013 put options.
Several analysts have recently issued reports on CVX shares. Wells Fargo & Co reissued a “market perform” rating on shares of Chevron in a report on Sunday, January 29th. Vetr raised Chevron from a “buy” rating to a “strong-buy” rating and set a $120.46 target price on the stock in a report on Friday, April 14th. Scotiabank set a $114.00 target price on Chevron and gave the stock a “buy” rating in a report on Monday, March 27th. HSBC Holdings plc lowered Chevron from a “buy” rating to a “hold” rating and set a $125.00 target price on the stock. in a report on Tuesday, January 10th. Finally, Royal Bank of Canada reaffirmed a “hold” rating and issued a $114.00 price objective on shares of Chevron in a research note on Thursday, March 23rd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. Chevron currently has an average rating of “Buy” and an average price target of $120.15.
In related news, insider Pierre R. Breber sold 45,000 shares of Chevron stock in a transaction dated Thursday, February 2nd. The stock was sold at an average price of $111.80, for a total value of $5,031,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.40% of the company’s stock.
About Chevron
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.
