Lincoln National Corp Sells 5,337 Shares of Chevron Co. (CVX)

Lincoln National Corp lowered its holdings in Chevron Co. (NYSE:CVX) by 5.1% during the third quarter, Holdings Channel reports. The fund owned 99,594 shares of the oil and gas company’s stock after selling 5,337 shares during the period. Chevron accounts for about 0.5% of Lincoln National Corp’s portfolio, making the stock its 27th biggest position. Lincoln National Corp’s holdings in Chevron were worth $11,702,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of CVX. Shine Investment Advisory Services Inc. acquired a new position in shares of Chevron during the second quarter valued at approximately $106,000. Winfield Associates Inc. increased its stake in shares of Chevron by 5.1% during the second quarter. Winfield Associates Inc. now owns 1,301 shares of the oil and gas company’s stock valued at $136,000 after acquiring an additional 63 shares during the period. Daiwa SB Investments Ltd. increased its stake in shares of Chevron by 438.5% during the second quarter. Daiwa SB Investments Ltd. now owns 1,400 shares of the oil and gas company’s stock valued at $146,000 after acquiring an additional 1,140 shares during the period. Acrospire Investment Management LLC increased its stake in shares of Chevron by 133.3% during the second quarter. Acrospire Investment Management LLC now owns 1,400 shares of the oil and gas company’s stock valued at $146,000 after acquiring an additional 800 shares during the period. Finally, Accurate Investment Solutions Inc. increased its stake in shares of Chevron by 59.1% during the third quarter. Accurate Investment Solutions Inc. now owns 1,352 shares of the oil and gas company’s stock valued at $159,000 after acquiring an additional 502 shares during the period. 63.80% of the stock is currently owned by hedge funds and other institutional investors.

A number of research analysts recently commented on the stock. Vetr lowered shares of Chevron from a “buy” rating to a “hold” rating and set a $134.35 price objective on the stock. in a research note on Thursday. BMO Capital Markets upgraded shares of Chevron from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $120.00 to $140.00 in a research note on Thursday. Bank of America lowered shares of Chevron from a “buy” rating to a “neutral” rating and set a $125.00 price objective on the stock. in a research note on Thursday, January 4th. They noted that the move was a valuation call. Zacks Investment Research upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $140.00 price objective on the stock in a research note on Wednesday, December 27th. Finally, Scotiabank restated a “buy” rating and issued a $130.00 price target on shares of Chevron in a research report on Friday, December 22nd. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and fifteen have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $126.06.

In other Chevron news, CFO Patricia E. Yarrington sold 13,143 shares of Chevron stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $115.01, for a total transaction of $1,511,576.43. Following the completion of the sale, the chief financial officer now owns 17,981 shares of the company’s stock, valued at approximately $2,067,994.81. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP R. Hewitt Pate sold 25,500 shares of Chevron stock in a transaction on Monday, October 16th. The shares were sold at an average price of $120.00, for a total transaction of $3,060,000.00. Following the sale, the vice president now directly owns 25,500 shares of the company’s stock, valued at approximately $3,060,000. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 314,000 shares of company stock worth $36,540,822. Corporate insiders own 0.38% of the company’s stock.

Chevron Co. (NYSE CVX) opened at $132.57 on Friday. Chevron Co. has a 52-week low of $102.55 and a 52-week high of $133.32. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.84 and a current ratio of 1.04. The firm has a market cap of $251,800.00, a P/E ratio of 38.65, a price-to-earnings-growth ratio of 2.97 and a beta of 1.21.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, October 27th. The oil and gas company reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.04. Chevron had a net margin of 4.79% and a return on equity of 4.59%. The firm had revenue of $36.21 billion for the quarter, compared to analysts’ expectations of $34.06 billion. During the same period in the previous year, the company posted $0.68 EPS. The company’s quarterly revenue was up 20.1% compared to the same quarter last year. equities analysts anticipate that Chevron Co. will post 4.35 earnings per share for the current year.

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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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