Gradient Investments LLC Raises Position in Chevron Co. (CVX)

Gradient Investments LLC boosted its holdings in Chevron Co. (NYSE:CVX) by 0.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 93,429 shares of the oil and gas company’s stock after buying an additional 242 shares during the quarter. Chevron makes up approximately 0.6% of Gradient Investments LLC’s investment portfolio, making the stock its 20th largest position. Gradient Investments LLC’s holdings in Chevron were worth $10,164,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of CVX. Capital International Investors raised its holdings in Chevron by 157.4% in the 3rd quarter. Capital International Investors now owns 23,757,783 shares of the oil and gas company’s stock valued at $2,905,102,000 after buying an additional 14,528,219 shares during the last quarter. Renaissance Technologies LLC grew its position in Chevron by 320.3% in the 3rd quarter. Renaissance Technologies LLC now owns 2,855,084 shares of the oil and gas company’s stock valued at $349,120,000 after purchasing an additional 2,175,800 shares during the period. Vanguard Group Inc grew its position in Chevron by 1.3% in the 3rd quarter. Vanguard Group Inc now owns 149,871,580 shares of the oil and gas company’s stock valued at $18,326,297,000 after purchasing an additional 1,897,503 shares during the period. Vanguard Group Inc. grew its position in Chevron by 1.3% in the 3rd quarter. Vanguard Group Inc. now owns 149,871,580 shares of the oil and gas company’s stock valued at $18,326,297,000 after purchasing an additional 1,897,503 shares during the period. Finally, Royal London Asset Management Ltd. acquired a new stake in Chevron in the 2nd quarter valued at $99,739,000. Institutional investors and hedge funds own 66.07% of the company’s stock.

Several analysts recently issued reports on CVX shares. Societe Generale reduced their price target on shares of Chevron from $150.00 to $128.00 and set a “buy” rating for the company in a research report on Wednesday, December 19th. Credit Suisse Group reissued a “buy” rating and issued a $130.00 price target on shares of Chevron in a research report on Wednesday, December 19th. Raymond James set a $135.00 price target on shares of Chevron and gave the company a “buy” rating in a research report on Thursday, December 20th. Zacks Investment Research downgraded shares of Chevron from a “hold” rating to a “strong sell” rating in a research report on Thursday, January 3rd. Finally, Royal Bank of Canada reissued a “hold” rating and issued a $130.00 price target on shares of Chevron in a research report on Monday, January 7th. Eight equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. Chevron presently has an average rating of “Buy” and an average target price of $135.68.

In other Chevron news, insider James William Johnson sold 4,750 shares of the firm’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $124.84, for a total transaction of $592,990.00. Following the transaction, the insider now directly owns 4,750 shares in the company, valued at approximately $592,990. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jeanette L. Ourada sold 7,200 shares of the firm’s stock in a transaction on Monday, February 4th. The shares were sold at an average price of $116.50, for a total value of $838,800.00. Following the transaction, the insider now owns 7,200 shares in the company, valued at $838,800. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 16,700 shares of company stock worth $1,964,740. Company insiders own 0.46% of the company’s stock.

Shares of NYSE:CVX opened at $125.49 on Thursday. The company has a current ratio of 1.25, a quick ratio of 1.04 and a debt-to-equity ratio of 0.18. Chevron Co. has a 1-year low of $100.22 and a 1-year high of $131.08. The firm has a market cap of $238.53 billion, a price-to-earnings ratio of 15.99, a P/E/G ratio of 3.77 and a beta of 1.03.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, February 1st. The oil and gas company reported $1.95 earnings per share for the quarter, beating the consensus estimate of $1.87 by $0.08. Chevron had a return on equity of 9.78% and a net margin of 8.91%. The business had revenue of $42.35 billion for the quarter, compared to analysts’ expectations of $41.46 billion. During the same period last year, the business earned $1.64 EPS. The business’s revenue was up 12.6% on a year-over-year basis. As a group, sell-side analysts forecast that Chevron Co. will post 6.68 earnings per share for the current year.

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Chevron Company Profile

Chevron Corporation, through its subsidiaries, engages in integrated energy, chemicals, and petroleum operations worldwide. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, and production of crude oil and natural gas; processing, liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and transportation, storage, and marketing of natural gas, as well as operates a gas-to-liquids plant.

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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