Access Financial Services Inc. decreased its holdings in shares of Chevron Co. (NYSE:CVX) by 10.5% during the 4th quarter, Holdings Channel reports. The firm owned 3,886 shares of the oil and gas company’s stock after selling 456 shares during the quarter. Access Financial Services Inc.’s holdings in Chevron were worth $468,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CVX. BlackRock Inc. grew its holdings in Chevron by 3.5% in the second quarter. BlackRock Inc. now owns 131,522,440 shares of the oil and gas company’s stock worth $16,366,651,000 after purchasing an additional 4,401,622 shares during the period. Johanson Financial Advisors Inc. raised its holdings in shares of Chevron by 11,524.8% during the fourth quarter. Johanson Financial Advisors Inc. now owns 1,399,163 shares of the oil and gas company’s stock valued at $11,614,000 after purchasing an additional 1,387,127 shares during the period. California Public Employees Retirement System boosted its position in shares of Chevron by 22.1% during the 3rd quarter. California Public Employees Retirement System now owns 5,482,447 shares of the oil and gas company’s stock worth $650,218,000 after purchasing an additional 990,819 shares in the last quarter. Waverton Investment Management Ltd bought a new position in shares of Chevron during the 3rd quarter worth about $85,367,000. Finally, Diamond Hill Capital Management Inc. boosted its position in shares of Chevron by 30.5% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 1,400,887 shares of the oil and gas company’s stock worth $166,145,000 after purchasing an additional 327,631 shares in the last quarter. 65.57% of the stock is owned by institutional investors and hedge funds.
In other news, CEO Michael K. Wirth sold 67,500 shares of the stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $121.07, for a total value of $8,172,225.00. Following the completion of the sale, the chief executive officer now directly owns 33,750 shares of the company’s stock, valued at $4,086,112.50. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Rhonda J. Morris sold 7,800 shares of the firm’s stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $119.68, for a total value of $933,504.00. The disclosure for this sale can be found here. Insiders have sold a total of 90,300 shares of company stock valued at $10,904,079 in the last quarter. Company insiders own 0.31% of the company’s stock.
A number of brokerages recently commented on CVX. Piper Jaffray Companies assumed coverage on Chevron in a research report on Tuesday, November 26th. They issued a “buy” rating and a $143.00 target price for the company. Bank of America downgraded Chevron from a “neutral” rating to an “underperform” rating in a research note on Tuesday, January 7th. ValuEngine upgraded Chevron from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Citigroup cut Chevron from a “buy” rating to a “neutral” rating in a research note on Monday, December 9th. Finally, Berenberg Bank restated a “hold” rating and set a $128.00 price objective on shares of Chevron in a report on Thursday, December 12th. One analyst has rated the stock with a sell rating, six have issued a hold rating and eight have assigned a buy rating to the company’s stock. Chevron presently has an average rating of “Hold” and a consensus target price of $139.00.
NYSE:CVX opened at $113.31 on Wednesday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.12 and a quick ratio of 0.93. The firm has a 50-day moving average of $118.33 and a 200-day moving average of $119.31. The company has a market cap of $218.55 billion, a PE ratio of 16.26, a PEG ratio of 4.76 and a beta of 1.02. Chevron Co. has a one year low of $110.42 and a one year high of $127.34.
Chevron (NYSE:CVX) last posted its earnings results on Friday, November 1st. The oil and gas company reported $1.36 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.47 by ($0.11). Chevron had a return on equity of 8.89% and a net margin of 8.70%. The business had revenue of $36.12 billion during the quarter, compared to analyst estimates of $37.69 billion. During the same quarter in the prior year, the company earned $2.11 EPS. The company’s revenue was down 17.9% on a year-over-year basis. On average, equities research analysts expect that Chevron Co. will post 6.36 earnings per share for the current fiscal year.
Chevron Company 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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