VeraBank N.A. lifted its holdings in Chevron Co. (NYSE:CVX) by 1.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,771 shares of the oil and gas company’s stock after acquiring an additional 200 shares during the period. Chevron accounts for approximately 1.5% of VeraBank N.A.’s holdings, making the stock its 19th biggest holding. VeraBank N.A.’s holdings in Chevron were worth $1,633,000 as of its most recent SEC filing.
Several other large investors have also made changes to their positions in the stock. W.G. Shaheen & Associates DBA Whitney & Co raised its position in Chevron by 0.8% in the 2nd quarter. W.G. Shaheen & Associates DBA Whitney & Co now owns 45,014 shares of the oil and gas company’s stock worth $5,602,000 after purchasing an additional 379 shares during the period. Beese Fulmer Investment Management Inc. raised its position in Chevron by 0.4% in the 2nd quarter. Beese Fulmer Investment Management Inc. now owns 58,040 shares of the oil and gas company’s stock worth $7,222,000 after purchasing an additional 238 shares during the period. DekaBank Deutsche Girozentrale raised its position in Chevron by 74.7% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 1,387,145 shares of the oil and gas company’s stock worth $171,630,000 after purchasing an additional 592,920 shares during the period. Goodman Financial Corp raised its position in Chevron by 1.2% in the 2nd quarter. Goodman Financial Corp now owns 50,084 shares of the oil and gas company’s stock worth $6,232,000 after purchasing an additional 599 shares during the period. Finally, Gratus Capital LLC raised its position in Chevron by 7.4% in the 2nd quarter. Gratus Capital LLC now owns 14,591 shares of the oil and gas company’s stock worth $1,816,000 after purchasing an additional 1,002 shares during the period. 65.61% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE CVX traded up $2.26 during midday trading on Friday, reaching $116.85. 2,796,847 shares of the company’s stock traded hands, compared to its average volume of 6,429,116. The company has a quick ratio of 0.91, a current ratio of 1.15 and a debt-to-equity ratio of 0.16. The stock’s 50 day simple moving average is $118.48 and its 200-day simple moving average is $120.78. Chevron Co. has a one year low of $100.22 and a one year high of $127.34. The company has a market cap of $212.07 billion, a price-to-earnings ratio of 14.16, a P/E/G ratio of 4.14 and a beta of 0.99.
Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.27 earnings per share (EPS) for the quarter, beating the Zacks’ 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 firm had revenue of $38.85 billion for the quarter, compared to the consensus estimate of $40.14 billion. During the same period last year, the firm earned $1.78 earnings per share. The company’s quarterly revenue was down 8.0% on a year-over-year basis. Equities analysts predict that Chevron Co. will post 6.75 EPS for the current fiscal year.
In other news, insider Joseph C. Geagea sold 8,000 shares of the stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $122.50, for a total transaction of $980,000.00. Following the transaction, the insider now directly owns 9,243 shares in the company, valued at $1,132,267.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Pierre R. Breber sold 15,000 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $124.97, for a total transaction of $1,874,550.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 86,750 shares of company stock worth $10,648,200. Insiders own 0.31% of the company’s stock.
A number of equities analysts have recently commented on CVX shares. Independent Research set a $127.00 target price on shares of Chevron and gave the stock a “neutral” rating in a research report on Thursday, August 29th. BMO Capital Markets started coverage on shares of Chevron in a research report on Tuesday, August 20th. They set an “outperform” rating and a $165.00 target price on the stock. Morgan Stanley reduced their target price on shares of Chevron from $146.00 to $144.00 and set an “overweight” rating on the stock in a research report on Friday, July 12th. Barclays started coverage on shares of Chevron in a research report on Monday, August 19th. They set an “overweight” rating and a $145.00 target price on the stock. Finally, ValuEngine raised shares of Chevron from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Five equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $137.47.
Chevron Company 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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