Cullen Frost Bankers Inc. Sells 11,932 Shares of Chevron Co. (CVX)

Cullen Frost Bankers Inc. lessened its holdings in shares of Chevron Co. (NYSE:CVX) by 3.7% during the 3rd quarter, Holdings Channel reports. The firm owned 314,775 shares of the oil and gas company’s stock after selling 11,932 shares during the period. Chevron comprises approximately 1.2% of Cullen Frost Bankers Inc.’s holdings, making the stock its 14th biggest position. Cullen Frost Bankers Inc.’s holdings in Chevron were worth $36,986,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. One Capital Management LLC raised its holdings in shares of Chevron by 4.3% during the 3rd quarter. One Capital Management LLC now owns 24,055 shares of the oil and gas company’s stock worth $2,826,000 after acquiring an additional 990 shares during the period. Trillium Asset Management LLC purchased a new position in shares of Chevron during the 3rd quarter worth $277,000. Private Vista LLC raised its holdings in shares of Chevron by 87.4% during the 3rd quarter. Private Vista LLC now owns 5,207 shares of the oil and gas company’s stock worth $612,000 after acquiring an additional 2,428 shares during the period. Rockland Trust Co. raised its holdings in shares of Chevron by 6.6% during the 3rd quarter. Rockland Trust Co. now owns 154,306 shares of the oil and gas company’s stock worth $18,131,000 after acquiring an additional 9,555 shares during the period. Finally, First Personal Financial Services raised its holdings in shares of Chevron by 7.1% during the 3rd quarter. First Personal Financial Services now owns 11,108 shares of the oil and gas company’s stock worth $1,305,000 after acquiring an additional 740 shares during the period. 63.80% of the stock is currently owned by institutional investors.

In other news, Vice Chairman Michael K. Wirth sold 1,229 shares of the business’s stock in a transaction dated Tuesday, November 7th. The stock was sold at an average price of $118.00, for a total transaction of $145,022.00. Following the completion of the transaction, the insider now directly owns 1,229 shares of the company’s stock, valued at $145,022. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Pierre R. Breber sold 23,250 shares of the business’s stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $119.00, for a total value of $2,766,750.00. Following the transaction, the insider now directly owns 42,182 shares of the company’s stock, valued at $5,019,658. The disclosure for this sale can be found here. Insiders have sold 288,500 shares of company stock worth $33,480,822 over the last quarter. Insiders own 0.38% of the company’s stock.

Several research firms have recently commented on CVX. BMO Capital Markets upgraded 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 report on Thursday. Vetr lowered Chevron from a “buy” rating to a “hold” rating and set a $134.35 price target on the stock. in a report on Thursday. Credit Suisse Group began coverage on Chevron in a report on Monday, December 11th. They set a “neutral” rating and a $123.00 price target on the stock. Cowen reiterated a “buy” rating and set a $122.00 price target on shares of Chevron in a report on Tuesday, September 19th. Finally, TheStreet upgraded Chevron from a “c+” rating to a “b” rating in a report on Monday, October 23rd. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and fifteen have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $126.06.

Shares of Chevron Co. (CVX) opened at $133.60 on Monday. 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 stock has a market cap of $253,760.00, a PE ratio of 38.95, a price-to-earnings-growth ratio of 2.98 and a beta of 1.21. Chevron Co. has a one year low of $102.55 and a one year high of $133.85.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, October 27th. The oil and gas company reported $1.03 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.99 by $0.04. The company had revenue of $36.21 billion for the quarter, compared to analyst estimates 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 period in the prior year, the firm earned $0.68 earnings per share. sell-side analysts anticipate 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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