Newman Dignan & Sheerar Inc. Has $909,000 Stake in Chevron Co. (NYSE:CVX)

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Newman Dignan & Sheerar Inc. trimmed its stake in Chevron Co. (NYSE:CVX) by 2.0% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 12,631 shares of the oil and gas company’s stock after selling 254 shares during the period. Newman Dignan & Sheerar Inc.’s holdings in Chevron were worth $909,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Selective Wealth Management Inc. bought a new position in shares of Chevron in the 2nd quarter valued at approximately $25,000. Demars Financial Group LLC bought a new position in shares of Chevron in the 2nd quarter valued at approximately $32,000. Marshall & Sullivan Inc. WA bought a new position in shares of Chevron in the 2nd quarter valued at approximately $36,000. Asset Advisors Investment Management LLC bought a new position in shares of Chevron in the 2nd quarter valued at approximately $36,000. Finally, Watson Rebecca bought a new position in shares of Chevron in the 2nd quarter valued at approximately $39,000. 64.01% of the stock is currently owned by institutional investors and hedge funds.

Shares of CVX stock opened at $72.89 on Friday. The stock’s fifty day simple moving average is $76.82 and its 200 day simple moving average is $85.44. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.14 and a quick ratio of 0.87. The firm has a market cap of $136.11 billion, a price-to-earnings ratio of -15.64, a P/E/G ratio of 2,483.67 and a beta of 1.26. Chevron Co. has a one year low of $51.60 and a one year high of $122.94.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, July 31st. The oil and gas company reported ($1.59) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.93) by ($0.66). The company had revenue of $13.95 billion during the quarter, compared to analyst estimates of $21.71 billion. Chevron had a negative net margin of 7.41% and a positive return on equity of 3.61%. Chevron’s quarterly revenue was down 64.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.77 EPS. On average, research analysts anticipate that Chevron Co. will post 0.01 earnings per share for the current year.

In other Chevron news, insider David A. Inchausti sold 5,750 shares of the business’s stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $92.00, for a total value of $529,000.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.28% of the stock is currently owned by insiders.

A number of brokerages recently weighed in on CVX. Truist downgraded Chevron to a “buy” rating and cut their price objective for the company from $113.00 to $112.00 in a research note on Friday, October 9th. Bank of America raised Chevron from a “neutral” rating to a “buy” rating and set a $96.00 price target on the stock in a research report on Monday, September 28th. Scotia Howard Weill downgraded Chevron from a “buy” rating to a “sector perform” rating and set a $121.00 price target on the stock. in a research report on Thursday, September 24th. MKM Partners began coverage on Chevron in a research report on Thursday, September 24th. They issued a “buy” rating and a $121.00 price target on the stock. Finally, Morgan Stanley lifted their price target on Chevron from $104.00 to $108.00 and gave the stock an “overweight” rating in a research report on Friday, August 21st. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $107.27.

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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