Chevron Co. (CVX) Position Reduced by OLD Republic International Corp

OLD Republic International Corp reduced its stake in shares of Chevron Co. (NYSE:CVX) by 9.1% during the 3rd quarter, HoldingsChannel reports. The fund owned 711,400 shares of the oil and gas company’s stock after selling 71,200 shares during the quarter. Chevron comprises about 2.8% of OLD Republic International Corp’s portfolio, making the stock its 3rd biggest position. OLD Republic International Corp’s holdings in Chevron were worth $83,590,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Valley National Advisers Inc. boosted its holdings in shares of Chevron by 0.4% in the second quarter. Valley National Advisers Inc. now owns 2,612 shares of the oil and gas company’s stock valued at $273,000 after acquiring an additional 11 shares in the last quarter. Deschutes Portfolio Strategy LLC boosted its holdings in shares of Chevron by 0.5% in the second quarter. Deschutes Portfolio Strategy LLC now owns 2,889 shares of the oil and gas company’s stock valued at $301,000 after acquiring an additional 13 shares in the last quarter. Regis Management CO LLC boosted its holdings in shares of Chevron by 0.4% in the second quarter. Regis Management CO LLC now owns 3,269 shares of the oil and gas company’s stock valued at $341,000 after acquiring an additional 14 shares in the last quarter. Keel Point LLC boosted its holdings in shares of Chevron by 0.5% in the second quarter. Keel Point LLC now owns 2,759 shares of the oil and gas company’s stock valued at $288,000 after acquiring an additional 14 shares in the last quarter. Finally, FCG Advisors LLC boosted its holdings in shares of Chevron by 0.4% in the second quarter. FCG Advisors LLC now owns 3,907 shares of the oil and gas company’s stock valued at $408,000 after acquiring an additional 15 shares in the last quarter. Hedge funds and other institutional investors own 63.80% of the company’s stock.

In other Chevron news, EVP Michael K. Wirth sold 110,771 shares of the company’s stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $116.17, for a total value of $12,868,267.07. Following the sale, the executive vice president now owns 110,771 shares of the company’s stock, valued at $12,868,267.07. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Vice Chairman Michael K. Wirth sold 1,229 shares of the company’s stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $118.00, for a total transaction of $145,022.00. Following the completion of the sale, the insider now directly owns 1,229 shares in the company, valued at approximately $145,022. The disclosure for this sale can be found here. Insiders sold 314,000 shares of company stock worth $36,540,822 in the last ninety days. Insiders own 0.38% of the company’s stock.

Several brokerages have recently weighed in on CVX. Barclays raised shares of Chevron to an “overweight” rating in a report on Wednesday, October 11th. Vetr downgraded shares of Chevron from a “buy” rating to a “hold” rating and set a $134.35 target price on the stock. in a report on Thursday. Zacks Investment Research raised shares of Chevron from a “hold” rating to a “buy” rating and set a $129.00 target price on the stock in a report on Friday, November 17th. JPMorgan Chase & Co. reaffirmed an “overweight” rating on shares of Chevron in a report on Saturday, September 16th. Finally, Cowen reaffirmed a “buy” rating and issued a $122.00 target price on shares of Chevron in a report on Tuesday, September 19th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $126.06.

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

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, October 27th. The oil and gas company reported $1.03 earnings per share (EPS) for the quarter, beating 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 company had revenue of $36.21 billion for the quarter, compared to the consensus estimate of $34.06 billion. During the same quarter in the prior year, the firm earned $0.68 earnings per share. The company’s revenue for the quarter was up 20.1% compared to the same quarter last year. analysts forecast that Chevron Co. will post 4.35 EPS 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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