State of Tennessee Treasury Department Decreases Position in Chevron Co. (CVX)

State of Tennessee Treasury Department trimmed its position in shares of Chevron Co. (NYSE:CVX) by 18.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 867,919 shares of the oil and gas company’s stock after selling 200,875 shares during the period. State of Tennessee Treasury Department’s holdings in Chevron were worth $101,981,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Pathstone Family Office LLC raised its holdings in shares of Chevron by 2.5% during the 2nd quarter. Pathstone Family Office LLC now owns 813 shares of the oil and gas company’s stock valued at $2,170,000 after buying an additional 20 shares in the last quarter. Shine Investment Advisory Services Inc. purchased a new position in shares of Chevron during the 2nd quarter valued at about $106,000. Winfield Associates Inc. raised its holdings in shares of Chevron by 5.1% during the 2nd quarter. Winfield Associates Inc. now owns 1,301 shares of the oil and gas company’s stock valued at $136,000 after buying an additional 63 shares in the last quarter. Accurate Investment Solutions Inc. raised its holdings in shares of 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 valued at $159,000 after buying an additional 502 shares in the last quarter. Finally, Daiwa SB Investments Ltd. raised its holdings in shares of 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 valued at $146,000 after buying an additional 1,140 shares in the last quarter. 63.80% of the stock is currently owned by institutional investors.

Chevron Co. (NYSE:CVX) opened at $133.60 on Friday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.84 and a current ratio of 1.04. 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 PEG ratio of 2.98 and a beta of 1.21.

Chevron (NYSE:CVX) last posted its earnings results 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 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 firm earned $0.68 earnings per share. The business’s revenue was up 20.1% compared to the same quarter last year. sell-side analysts anticipate that Chevron Co. will post 4.35 EPS for the current fiscal year.

In other 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 transaction of $145,022.00. Following the transaction, the insider now directly owns 1,229 shares of the company’s stock, valued at $145,022. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP R. Hewitt Pate sold 25,500 shares of the business’s stock in a transaction that occurred on 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 transaction, the vice president now directly owns 25,500 shares in the company, valued at $3,060,000. The disclosure for this sale can be found here. Insiders have sold 314,000 shares of company stock worth $36,540,822 over the last three months. Insiders own 0.38% of the company’s stock.

CVX has been the topic of a number of analyst reports. Vetr cut 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. BMO Capital Markets raised Chevron from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $120.00 to $140.00 in a research note on Thursday. Bank of America cut 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. Zacks Investment Research raised Chevron from a “hold” rating to a “buy” rating and set a $140.00 price target on the stock in a research note on Wednesday, December 27th. Finally, Scotiabank reaffirmed a “buy” rating and issued a $130.00 price target on shares of Chevron in a research note on Friday, December 22nd. Three investment 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 company currently has an average rating of “Hold” and a consensus target price of $126.06.

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About Chevron

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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