GABELLI & Co INVESTMENT ADVISERS INC. reduced its position in Chevron Co. (NYSE:CVX) by 36.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,600 shares of the oil and gas company’s stock after selling 5,000 shares during the period. GABELLI & Co INVESTMENT ADVISERS INC.’s holdings in Chevron were worth $1,012,000 as of its most recent filing with the SEC.
A number of other institutional investors have also modified their holdings of CVX. Greatmark Investment Partners Inc. increased its stake in Chevron by 0.5% in the third quarter. Greatmark Investment Partners Inc. now owns 36,644 shares of the oil and gas company’s stock worth $3,771,000 after buying an additional 189 shares during the period. Rockland Trust Co. increased its stake in Chevron by 10.2% in the third quarter. Rockland Trust Co. now owns 102,310 shares of the oil and gas company’s stock worth $10,530,000 after buying an additional 9,429 shares during the period. Northern Trust Corp increased its stake in Chevron by 1.0% in the third quarter. Northern Trust Corp now owns 25,401,354 shares of the oil and gas company’s stock worth $2,614,308,000 after buying an additional 261,621 shares during the period. Bollard Group LLC increased its stake in Chevron by 4.4% in the third quarter. Bollard Group LLC now owns 93,846 shares of the oil and gas company’s stock worth $9,659,000 after buying an additional 3,932 shares during the period. Finally, Concorde Asset Management LLC increased its stake in Chevron by 479.4% in the third quarter. Concorde Asset Management LLC now owns 14,590 shares of the oil and gas company’s stock worth $1,497,000 after buying an additional 12,072 shares during the period. 62.50% of the stock is owned by institutional investors and hedge funds.
Chevron Co. (NYSE:CVX) traded up 0.01% during midday trading on Friday, reaching $104.89. 5,978,400 shares of the company’s stock were exchanged. The firm has a 50-day moving average price of $108.50 and a 200 day moving average price of $110.24. Chevron Co. has a 52 week low of $97.53 and a 52 week high of $119.00. The company’s market cap is $198.57 billion. Chevron also saw some unusual options trading activity on Friday. Stock traders bought 4,483 put options on the company. This represents an increase of 343% compared to the typical volume of 1,013 put options.
Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, January 27th. The oil and gas company reported $0.22 EPS for the quarter, missing analysts’ consensus estimates of $0.64 by $0.42. Chevron had a negative net margin of 0.43% and a positive return on equity of 1.26%. The firm earned $31.50 billion during the quarter, compared to the consensus estimate of $35.24 billion. During the same quarter last year, the business posted ($0.31) earnings per share. Chevron’s revenue was up 7.7% compared to the same quarter last year. Analysts anticipate that Chevron Co. will post $4.53 EPS for the current year.
A number of research firms have weighed in on CVX. Vetr upgraded Chevron from a “buy” rating to a “strong-buy” rating and set a $120.46 target price for the company in a research report on Friday, April 14th. Simmons cut their price objective on Chevron from $129.00 to $124.00 and set an “overweight” rating for the company in a research report on Wednesday. Jefferies Group LLC reiterated a “buy” rating and set a $147.00 price objective on shares of Chevron in a research report on Tuesday, April 11th. Wells Fargo & Co reiterated a “market perform” rating on shares of Chevron in a research report on Wednesday, February 22nd. Finally, TheStreet downgraded Chevron from a “b-” rating to a “c” rating in a research report on Friday, February 3rd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $120.15.
In other Chevron news, insider Pierre R. Breber sold 45,000 shares of Chevron stock in a transaction that occurred on Thursday, February 2nd. The shares were sold at an average price of $111.80, for a total transaction of $5,031,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.40% of the company’s stock.
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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