Cape Cod Five Cents Savings Bank reduced its position in shares of Chevron Co. (NYSE:CVX) by 12.9% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 60,629 shares of the oil and gas company’s stock after selling 8,967 shares during the quarter. Chevron accounts for approximately 1.1% of Cape Cod Five Cents Savings Bank’s holdings, making the stock its 25th biggest position. Cape Cod Five Cents Savings Bank’s holdings in Chevron were worth $7,124,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Shine Investment Advisory Services Inc. bought a new position in shares of Chevron during the 2nd quarter valued at approximately $106,000. Winfield Associates Inc. grew its stake in shares of Chevron by 5.1% during the 2nd quarter. Winfield Associates Inc. now owns 1,301 shares of the oil and gas company’s stock valued at $136,000 after acquiring an additional 63 shares during the period. Daiwa SB Investments Ltd. grew its stake in shares of Chevron by 438.5% during the 2nd quarter. Daiwa SB Investments Ltd. now owns 1,400 shares of the oil and gas company’s stock valued at $146,000 after acquiring an additional 1,140 shares during the period. Acrospire Investment Management LLC boosted its stake in Chevron by 133.3% in the 2nd quarter. Acrospire Investment Management LLC now owns 1,400 shares of the oil and gas company’s stock worth $146,000 after purchasing an additional 800 shares during the period. Finally, Accurate Investment Solutions Inc. boosted its stake in Chevron by 59.1% in the 3rd quarter. Accurate Investment Solutions Inc. now owns 1,352 shares of the oil and gas company’s stock worth $159,000 after purchasing an additional 502 shares during the period. Institutional investors and hedge funds own 63.80% of the company’s stock.
In other news, EVP Michael K. Wirth sold 110,771 shares of the company’s stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $116.17, for a total transaction of $12,868,267.07. Following the sale, the executive vice president now directly owns 110,771 shares of the company’s stock, valued at approximately $12,868,267.07. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Vice Chairman Michael K. Wirth sold 1,229 shares of the company’s stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $118.00, for a total value of $145,022.00. Following the sale, the insider now directly owns 1,229 shares in the company, valued at $145,022. The disclosure for this sale can be found here. Insiders have sold a total of 314,000 shares of company stock worth $36,540,822 over the last ninety days. Insiders own 0.38% of the company’s stock.
Several research analysts have weighed in on CVX shares. JPMorgan Chase & Co. restated an “overweight” rating on shares of Chevron in a research note on Saturday, September 16th. Cowen restated a “buy” rating and issued a $122.00 price target on shares of Chevron in a research note on Tuesday, September 19th. Goldman Sachs Group restated a “buy” rating and issued a $123.00 price target (up from $118.00) on shares of Chevron in a research note on Tuesday, September 19th. Wells Fargo & Co restated a “market perform” rating and issued a $108.00 price target (up from $100.00) on shares of Chevron in a research note on Tuesday, October 3rd. Finally, Bank of America restated a “buy” rating and issued a $125.00 price target (up from $120.00) on shares of Chevron in a research note on Tuesday, October 3rd. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $126.06.
Shares of Chevron Co. (CVX) opened at $133.60 on Friday. The stock has a market capitalization of $253,760.00, a P/E ratio of 38.95, a PEG ratio of 2.96 and a beta of 1.21. Chevron Co. has a twelve month low of $102.55 and a twelve month high of $133.85. The company has a current ratio of 1.04, a quick ratio of 0.84 and a debt-to-equity ratio of 0.23.
Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, October 27th. The oil and gas company reported $1.03 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.99 by $0.04. The business had revenue of $36.21 billion for the quarter, compared to analysts’ expectations of $34.06 billion. Chevron had a return on equity of 4.59% and a net margin of 4.79%. The company’s revenue for the quarter was up 20.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.68 EPS. equities research analysts predict that Chevron Co. will post 4.35 earnings per share for the current fiscal year.
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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.
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