Miles Capital Inc. lessened its stake in Chevron Co. (NYSE:CVX) by 4.1% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 11,436 shares of the oil and gas company’s stock after selling 489 shares during the quarter. Chevron accounts for approximately 1.1% of Miles Capital Inc.’s portfolio, making the stock its 17th biggest position. Miles Capital Inc.’s holdings in Chevron were worth $1,378,000 at the end of the most recent reporting period.
Several other institutional investors also recently made changes to their positions in CVX. Schroder Investment Management Group boosted its position in Chevron by 25.4% in the 2nd quarter. Schroder Investment Management Group now owns 1,783,104 shares of the oil and gas company’s stock valued at $221,890,000 after buying an additional 360,758 shares during the period. Bernardo Wealth Planning LLC grew its holdings in shares of Chevron by 6.9% during the second quarter. Bernardo Wealth Planning LLC now owns 9,624 shares of the oil and gas company’s stock worth $1,198,000 after purchasing an additional 618 shares during the last quarter. Change Path LLC acquired a new position in Chevron during the second quarter worth approximately $331,000. Northstar Wealth Partners LLC lifted its stake in Chevron by 4.4% in the second quarter. Northstar Wealth Partners LLC now owns 14,840 shares of the oil and gas company’s stock valued at $1,847,000 after buying an additional 625 shares during the last quarter. Finally, Hamilton Capital Management Inc. purchased a new stake in Chevron in the second quarter valued at approximately $409,000. 65.57% of the stock is owned by institutional investors and hedge funds.
In related news, CEO Michael K. Wirth sold 67,500 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $121.07, for a total transaction of $8,172,225.00. Following the transaction, the chief executive officer now owns 33,750 shares of the company’s stock, valued at $4,086,112.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider David A. Inchausti sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $119.89, for a total transaction of $1,798,350.00. Following the transaction, the insider now directly owns 15,000 shares in the company, valued at approximately $1,798,350. The disclosure for this sale can be found here. In the last quarter, insiders have sold 90,300 shares of company stock valued at $10,904,079. 0.31% of the stock is currently owned by company insiders.
A number of equities analysts have recently issued reports on the stock. Cowen lowered their target price on shares of Chevron from $140.00 to $134.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. Bank of America downgraded shares of Chevron from a “neutral” rating to an “underperform” rating in a research report on Tuesday, January 7th. Citigroup cut shares of Chevron from a “buy” rating to a “neutral” rating in a research note on Monday, December 9th. ValuEngine raised shares of Chevron from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Finally, Berenberg Bank restated a “hold” rating and issued a $128.00 price objective on shares of Chevron in a research note on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and eight have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $139.00.
Chevron stock traded down $1.15 during mid-day trading on Tuesday, hitting $114.43. 1,561,156 shares of the company were exchanged, compared to its average volume of 5,464,590. Chevron Co. has a 12-month low of $110.17 and a 12-month high of $127.34. The company has a market capitalization of $218.55 billion, a P/E ratio of 16.42, a PEG ratio of 4.76 and a beta of 1.02. The business’s 50 day simple moving average is $118.36 and its two-hundred day simple moving average is $119.35. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.12 and a quick ratio of 0.93.
Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, November 1st. The oil and gas company reported $1.36 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.47 by ($0.11). The company had revenue of $36.12 billion during the quarter, compared to analysts’ expectations of $37.69 billion. Chevron had a net margin of 8.70% and a return on equity of 8.89%. The firm’s revenue was down 17.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.11 earnings per share. Equities research analysts predict that Chevron Co. will post 6.36 earnings per share for the current year.
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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