Minneapolis Portfolio Management Group LLC Has $21.66 Million Stake in Chevron Co. (CVX)

Minneapolis Portfolio Management Group LLC increased its holdings in shares of Chevron Co. (NYSE:CVX) by 0.8% during the third quarter, HoldingsChannel.com reports. The fund owned 184,296 shares of the oil and gas company’s stock after buying an additional 1,484 shares during the period. Chevron comprises approximately 3.2% of Minneapolis Portfolio Management Group LLC’s holdings, making the stock its 19th biggest position. Minneapolis Portfolio Management Group LLC’s holdings in Chevron were worth $21,655,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also bought and sold shares of the company. Valley National Advisers Inc. boosted its holdings in Chevron by 0.4% in the 2nd quarter. Valley National Advisers Inc. now owns 2,612 shares of the oil and gas company’s stock worth $273,000 after buying an additional 11 shares during the last quarter. Deschutes Portfolio Strategy LLC boosted its holdings in Chevron by 0.5% in the 2nd quarter. Deschutes Portfolio Strategy LLC now owns 2,889 shares of the oil and gas company’s stock worth $301,000 after buying an additional 13 shares during the last quarter. Regis Management CO LLC boosted its holdings in Chevron by 0.4% in the 2nd quarter. Regis Management CO LLC now owns 3,269 shares of the oil and gas company’s stock worth $341,000 after buying an additional 14 shares during the last quarter. Keel Point LLC boosted its holdings in Chevron by 0.5% in the 2nd quarter. Keel Point LLC now owns 2,759 shares of the oil and gas company’s stock worth $288,000 after buying an additional 14 shares during the last quarter. Finally, FCG Advisors LLC boosted its holdings in Chevron by 0.4% in the 2nd quarter. FCG Advisors LLC now owns 3,907 shares of the oil and gas company’s stock worth $408,000 after buying an additional 15 shares during the last quarter. Hedge funds and other institutional investors own 63.84% of the company’s stock.

Several research firms recently issued reports on CVX. Vetr cut Chevron from a “buy” rating to a “hold” rating and set a $134.35 price objective on the stock. in a report on Thursday, January 11th. BMO Capital Markets upgraded Chevron from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $120.00 to $140.00 in a report on Thursday, January 11th. Bank of America cut Chevron from a “buy” rating to a “neutral” rating and set a $125.00 price objective on the stock. in a report on Thursday, January 4th. They noted that the move was a valuation call. Zacks Investment Research upgraded Chevron from a “hold” rating to a “buy” rating and set a $140.00 price objective on the stock in a report on Wednesday, December 27th. Finally, Scotiabank reissued a “buy” rating and issued a $130.00 target price on shares of Chevron in a research note on Friday, December 22nd. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and fifteen have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $126.06.

Shares of Chevron Co. (NYSE CVX) opened at $133.60 on Tuesday. The company has a market cap of $253,756.36, a P/E ratio of 38.95, a PEG ratio of 2.95 and a beta of 1.21. 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 Co. has a 12-month low of $102.55 and a 12-month high of $133.85.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, October 27th. The oil and gas company reported $1.03 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.99 by $0.04. The firm 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 quarter in the previous year, the company earned $0.68 EPS. analysts forecast that Chevron Co. will post 4.35 earnings per share for the current year.

In other news, Vice Chairman Michael K. Wirth sold 1,229 shares of Chevron stock in a transaction that occurred on Tuesday, November 7th. The shares were sold at an average price of $118.00, for a total transaction of $145,022.00. Following the sale, the insider now owns 1,229 shares of the company’s stock, valued at approximately $145,022. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Pierre R. Breber sold 23,250 shares of Chevron stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $116.85, for a total transaction of $2,716,762.50. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 288,500 shares of company stock worth $33,480,822. Corporate insiders own 0.38% of the company’s stock.

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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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