Baystate Wealth Management LLC Sells 314 Shares of Chevron Co. (NYSE:CVX)

Baystate Wealth Management LLC lowered its stake in Chevron Co. (NYSE:CVX) by 13.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,943 shares of the oil and gas company’s stock after selling 314 shares during the period. Baystate Wealth Management LLC’s holdings in Chevron were worth $140,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the stock. State Street Corp increased its position in Chevron by 2.6% in the first quarter. State Street Corp now owns 117,055,351 shares of the oil and gas company’s stock worth $8,481,831,000 after purchasing an additional 2,914,316 shares during the period. Capital International Investors boosted its stake in shares of Chevron by 12.9% in the 1st quarter. Capital International Investors now owns 36,799,529 shares of the oil and gas company’s stock valued at $2,666,493,000 after purchasing an additional 4,218,942 shares during the last quarter. Morgan Stanley grew its position in shares of Chevron by 2.0% during the 1st quarter. Morgan Stanley now owns 17,804,427 shares of the oil and gas company’s stock worth $1,290,108,000 after buying an additional 341,664 shares during the period. Sumitomo Mitsui Trust Holdings Inc. grew its position in shares of Chevron by 0.4% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 8,491,224 shares of the oil and gas company’s stock worth $757,672,000 after buying an additional 32,737 shares during the period. Finally, Swiss National Bank raised its stake in shares of Chevron by 0.9% during the second quarter. Swiss National Bank now owns 7,458,150 shares of the oil and gas company’s stock worth $665,491,000 after buying an additional 64,200 shares during the last quarter. Hedge funds and other institutional investors own 64.01% of the company’s stock.

Shares of NYSE CVX opened at $72.89 on Friday. The company has a fifty day moving average price of $76.82 and a 200 day moving average price of $85.44. The firm has a market cap of $136.11 billion, a PE ratio of -15.64, a PEG ratio of 2,483.67 and a beta of 1.26. The company has a current ratio of 1.14, a quick ratio of 0.87 and a debt-to-equity ratio of 0.23. Chevron Co. has a 1-year low of $51.60 and a 1-year high of $122.94.

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

In other Chevron news, insider David A. Inchausti sold 5,750 shares of the company’s stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $92.00, for a total transaction of $529,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.28% of the company’s stock.

CVX has been the subject of a number of analyst reports. Bank of America raised shares of Chevron from a “neutral” rating to a “buy” rating and set a $96.00 target price for the company in a report on Monday, September 28th. Morgan Stanley lifted their price objective on Chevron from $104.00 to $108.00 and gave the stock an “overweight” rating in a research note on Friday, August 21st. Scotia Howard Weill downgraded Chevron from a “buy” rating to a “sector perform” rating and set a $121.00 price objective for the company. in a report on Thursday, September 24th. Truist Securiti reduced their target price on Chevron from $113.00 to $112.00 and set a “buy” rating on the stock in a report on Friday, October 9th. Finally, Truist cut Chevron to a “buy” rating and lowered their price target for the company from $113.00 to $112.00 in a research note on Friday, October 9th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company’s stock. Chevron has a consensus rating of “Buy” and a consensus price target 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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