Puzo Michael J boosted its holdings in shares of Chevron Co. (NYSE:CVX) by 5.6% in the 4th quarter, Holdings Channel reports. The fund owned 39,436 shares of the oil and gas company’s stock after acquiring an additional 2,085 shares during the quarter. Chevron accounts for 1.7% of Puzo Michael J’s holdings, making the stock its 26th largest holding. Puzo Michael J’s holdings in Chevron were worth $4,752,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Eagle Capital Management LLC boosted its stake in Chevron by 2.1% in the 2nd quarter. Eagle Capital Management LLC now owns 25,373 shares of the oil and gas company’s stock worth $3,158,000 after purchasing an additional 515 shares in the last quarter. Schroder Investment Management Group grew its position in Chevron by 25.4% during the 2nd quarter. Schroder Investment Management Group now owns 1,783,104 shares of the oil and gas company’s stock valued at $221,890,000 after purchasing an additional 360,758 shares during the last quarter. Bernardo Wealth Planning LLC increased its stake in Chevron by 6.9% during the 2nd quarter. Bernardo Wealth Planning LLC now owns 9,624 shares of the oil and gas company’s stock valued at $1,198,000 after purchasing an additional 618 shares in the last quarter. Putnam Investments LLC increased its stake in Chevron by 7.2% during the 2nd quarter. Putnam Investments LLC now owns 1,050,941 shares of the oil and gas company’s stock valued at $130,779,000 after purchasing an additional 70,188 shares in the last quarter. Finally, Gladstone Institutional Advisory LLC raised its holdings in Chevron by 32.6% in the second quarter. Gladstone Institutional Advisory LLC now owns 4,492 shares of the oil and gas company’s stock worth $559,000 after buying an additional 1,104 shares during the last quarter. 65.47% of the stock is owned by institutional investors.
In other news, insider David A. Inchausti sold 15,000 shares of the stock in a transaction on Monday, November 4th. The stock was sold at an average price of $119.89, for a total transaction of $1,798,350.00. Following the transaction, the insider now directly owns 15,000 shares of the company’s stock, valued at approximately $1,798,350. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Rhonda J. Morris sold 7,800 shares of the firm’s stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $119.68, for a total value of $933,504.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 90,300 shares of company stock valued at $10,904,079. Company insiders own 0.31% of the company’s stock.
Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, November 1st. The oil and gas company reported $1.36 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.47 by ($0.11). Chevron had a net margin of 8.70% and a return on equity of 8.89%. The company had revenue of $36.12 billion for the quarter, compared to the consensus estimate of $37.69 billion. During the same quarter last year, the company earned $2.11 EPS. The firm’s revenue for the quarter was down 17.9% on a year-over-year basis. As a group, analysts expect that Chevron Co. will post 6.28 earnings per share for the current year.
CVX has been the topic of several analyst reports. Citigroup downgraded shares of Chevron from a “buy” rating to a “neutral” rating in a research note on Monday, December 9th. Piper Jaffray Companies started coverage on shares of Chevron in a research report on Tuesday, November 26th. They set a “buy” rating and a $143.00 price target for the company. Cowen decreased their price objective on shares of Chevron from $140.00 to $134.00 and set an “outperform” rating for the company in a report on Friday, November 1st. Berenberg Bank reaffirmed a “hold” rating and issued a $128.00 price objective on shares of Chevron in a research report on Thursday, December 12th. Finally, Bank of America downgraded Chevron from a “neutral” rating to an “underperform” rating in a research note on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and nine have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $137.26.
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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