WASHINGTON TRUST Co Decreases Holdings in Chevron Co. (CVX)

WASHINGTON TRUST Co reduced its stake in Chevron Co. (NYSE:CVX) by 1.2% during the 3rd quarter, Holdings Channel reports. The firm owned 121,981 shares of the oil and gas company’s stock after selling 1,500 shares during the period. WASHINGTON TRUST Co’s holdings in Chevron were worth $14,333,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in the business. Shine Investment Advisory Services Inc. acquired a new position in shares of Chevron in the second quarter valued at about $106,000. Winfield Associates Inc. grew its stake in shares of Chevron by 5.1% in 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 in the last quarter. Daiwa SB Investments Ltd. grew its stake in shares of Chevron by 438.5% in 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 in the last quarter. Acrospire Investment Management LLC grew its stake in shares of Chevron by 133.3% in 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 in the last quarter. Finally, Accurate Investment Solutions Inc. grew its stake in shares of Chevron by 59.1% in 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 in the last quarter. Hedge funds and other institutional investors own 63.80% of the company’s stock.

Several equities analysts recently commented on the stock. Vetr downgraded shares of Chevron from a “buy” rating to a “hold” rating and set a $134.35 price target on the stock. in a research note on Thursday. Bank of America downgraded shares of Chevron from a “buy” rating to a “neutral” rating and set a $125.00 price target on the stock. in a research note on Thursday, January 4th. They noted that the move was a valuation call. Wells Fargo & Co restated a “market perform” rating and issued a $108.00 price target (up from $100.00) on shares of Chevron in a research note on Tuesday, October 3rd. Jefferies Group restated a “buy” rating and issued a $137.00 price target on shares of Chevron in a research note on Thursday, October 19th. Finally, Zacks Investment Research raised shares of Chevron from a “hold” rating to a “buy” rating and set a $127.00 price objective for the company in a research report on Tuesday, October 31st. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. Chevron currently has a consensus rating of “Hold” and a consensus target price of $126.06.

In other news, VP R. Hewitt Pate sold 25,500 shares of the stock in a transaction dated Monday, October 16th. The shares were sold at an average price of $120.00, for a total value of $3,060,000.00. Following the completion of the transaction, the vice president now owns 25,500 shares of the company’s stock, valued at $3,060,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Pierre R. Breber sold 23,250 shares of the stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $119.00, for a total transaction of $2,766,750.00. Following the completion of the transaction, the insider now directly owns 42,182 shares of the company’s stock, valued at approximately $5,019,658. The disclosure for this sale can be found here. Insiders sold 314,000 shares of company stock valued at $36,540,822 in the last three months. Company insiders own 0.38% of the company’s stock.

Chevron Co. (NYSE CVX) opened at $132.57 on Friday. The company has a market cap of $251,800.00, a PE ratio of 38.65, a PEG ratio of 2.97 and a beta of 1.21. The company has a quick ratio of 0.84, a current ratio of 1.04 and a debt-to-equity ratio of 0.23. Chevron Co. has a fifty-two week low of $102.55 and a fifty-two week high of $133.32.

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

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Chevron Company 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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