Stillwater Capital Advisors LLC lessened its position in Chevron Co. (NYSE:CVX) by 7.2% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,567 shares of the oil and gas company’s stock after selling 200 shares during the period. Stillwater Capital Advisors LLC’s holdings in Chevron were worth $304,000 as of its most recent filing with the SEC.
A number of other large investors have also recently modified their holdings of CVX. Semmax Financial Advisors Inc. bought a new stake in Chevron in the fourth quarter valued at approximately $388,000. Foresters Investment Management Company Inc. boosted its holdings in shares of Chevron by 92.2% in the fourth quarter. Foresters Investment Management Company Inc. now owns 500,150 shares of the oil and gas company’s stock valued at $54,411,000 after buying an additional 239,950 shares during the period. Stamos Capital Partners L.P. acquired a new position in shares of Chevron in the fourth quarter valued at approximately $2,611,000. ERTS Wealth Advisors LLC acquired a new position in shares of Chevron in the fourth quarter valued at approximately $147,000. Finally, Total Wealth Planning LLC acquired a new position in shares of Chevron in the fourth quarter valued at approximately $1,765,000. 65.61% of the stock is owned by hedge funds and other institutional investors.
Several research firms have recently weighed in on CVX. BMO Capital Markets began coverage on shares of Chevron in a report on Tuesday, August 20th. They issued an “outperform” rating and a $165.00 price target for the company. Morgan Stanley reduced their price target on shares of Chevron from $146.00 to $144.00 and set an “overweight” rating for the company in a report on Friday, July 12th. Cowen set a $140.00 price target on shares of Chevron and gave the company a “buy” rating in a report on Friday, August 30th. Barclays began coverage on shares of Chevron in a report on Monday, August 19th. They issued an “overweight” rating and a $145.00 price target for the company. Finally, Independent Research set a $127.00 price target on shares of Chevron and gave the company a “neutral” rating in a report on Thursday, August 29th. Five analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $137.47.
CVX traded up $2.24 during trading hours on Friday, hitting $116.83. 378,323 shares of the company’s stock were exchanged, compared to its average volume of 6,429,116. Chevron Co. has a 1-year low of $100.22 and a 1-year high of $127.34. The stock’s 50-day moving average is $118.48 and its two-hundred day moving average is $120.78. The stock has a market cap of $212.07 billion, a price-to-earnings ratio of 14.16, a PEG ratio of 4.14 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 (NYSE:CVX) last announced its earnings results on Friday, August 2nd. The oil and gas company reported $2.27 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.74 by $0.53. Chevron had a net margin of 9.18% and a return on equity of 9.58%. The business had revenue of $38.85 billion during the quarter, compared to analysts’ expectations of $40.14 billion. During the same quarter in the prior year, the company posted $1.78 earnings per share. The firm’s revenue was down 8.0% on a year-over-year basis. On average, equities research analysts anticipate that Chevron Co. will post 6.75 EPS for the current year.
In related news, EVP Joseph C. Geagea sold 15,000 shares of the stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $116.98, for a total transaction of $1,754,700.00. Following the completion of the transaction, the executive vice president now owns 6,243 shares in the company, valued at $730,306.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Joseph C. Geagea sold 5,000 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $118.10, for a total transaction of $590,500.00. Following the transaction, the executive vice president now owns 6,243 shares of the company’s stock, valued at approximately $737,298.30. The disclosure for this sale can be found here. Insiders have sold 86,750 shares of company stock valued at $10,648,200 in the last 90 days. 0.31% of the stock is currently owned by corporate insiders.
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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