Chevron Co. (CVX) Stake Lowered by Country Trust Bank

Country Trust Bank lessened its position in Chevron Co. (NYSE:CVX) by 1.4% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 159,706 shares of the oil and gas company’s stock after selling 2,226 shares during the period. Country Trust Bank’s holdings in Chevron were worth $18,765,000 as of its most recent filing with the SEC.

Several other large investors have also recently modified their holdings of CVX. Shine Investment Advisory Services Inc. bought a new stake in Chevron during the 2nd quarter worth about $106,000. Winfield Associates Inc. raised its holdings in Chevron by 5.1% during the 2nd quarter. Winfield Associates Inc. now owns 1,301 shares of the oil and gas company’s stock worth $136,000 after purchasing an additional 63 shares during the last quarter. Daiwa SB Investments Ltd. raised its holdings in 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 worth $146,000 after purchasing an additional 1,140 shares during the last quarter. Acrospire Investment Management LLC raised its holdings in Chevron by 133.3% during 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 last quarter. Finally, Accurate Investment Solutions Inc. raised its holdings in Chevron by 59.1% during 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 last quarter. Institutional investors own 63.80% of the company’s stock.

Chevron Co. (CVX) opened at $133.60 on Friday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.04 and a quick ratio of 0.84. Chevron Co. has a 12-month low of $102.55 and a 12-month high of $133.85. The stock has a market capitalization of $253,760.00, a P/E ratio of 38.95, a P/E/G ratio of 2.97 and a beta of 1.21.

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, beating the Thomson Reuters’ consensus estimate of $0.99 by $0.04. Chevron had a return on equity of 4.59% and a net margin of 4.79%. The business had revenue of $36.21 billion during the quarter, compared to analyst estimates of $34.06 billion. During the same period in the previous year, the firm earned $0.68 EPS. Chevron’s quarterly revenue was up 20.1% compared to the same quarter last year. research analysts anticipate that Chevron Co. will post 4.35 earnings per share for the current fiscal year.

In related news, Vice Chairman Michael K. Wirth sold 1,229 shares of the business’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 completion of the transaction, the insider now directly owns 1,229 shares in the company, valued at approximately $145,022. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Patricia E. Yarrington sold 13,143 shares of the business’s stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $115.01, for a total value of $1,511,576.43. Following the completion of the transaction, the chief financial officer now owns 17,981 shares of the company’s stock, valued at $2,067,994.81. The disclosure for this sale can be found here. Insiders sold a total of 314,000 shares of company stock valued at $36,540,822 over the last quarter. 0.38% of the stock is owned by insiders.

CVX has been the subject of several recent research reports. Scotiabank reissued a “buy” rating on shares of Chevron in a report on Friday, September 15th. JPMorgan Chase & Co. reissued an “overweight” rating on shares of Chevron in a report on Saturday, September 16th. Cowen reissued a “buy” rating and set a $122.00 price objective on shares of Chevron in a report on Tuesday, September 19th. Goldman Sachs Group reissued a “buy” rating and set a $123.00 price objective (up from $118.00) on shares of Chevron in a report on Tuesday, September 19th. Finally, Wells Fargo & Co reissued a “market perform” rating and set a $108.00 price objective (up from $100.00) on shares of Chevron in a report on Tuesday, October 3rd. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $126.06.

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Chevron Profile

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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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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