Moseley Investment Management Inc. decreased its holdings in shares of Chevron Co. (NYSE:CVX) by 2.7% in the 4th quarter, HoldingsChannel.com reports. The firm owned 6,948 shares of the oil and gas company’s stock after selling 190 shares during the period. Moseley Investment Management Inc.’s holdings in Chevron were worth $837,000 at the end of the most recent reporting period.
Other large investors have also bought and sold shares of the company. Nuveen Asset Management LLC raised its holdings in shares of Chevron by 2,073.6% in the 2nd quarter. Nuveen Asset Management LLC now owns 14,886,232 shares of the oil and gas company’s stock worth $1,852,443,000 after purchasing an additional 14,201,379 shares in the last quarter. BlackRock Inc. lifted its stake in Chevron by 3.5% during the second quarter. BlackRock Inc. now owns 131,522,440 shares of the oil and gas company’s stock valued at $16,366,651,000 after purchasing an additional 4,401,622 shares during the last quarter. Johanson Financial Advisors Inc. lifted its stake in Chevron by 11,524.8% during the fourth quarter. Johanson Financial Advisors Inc. now owns 1,399,163 shares of the oil and gas company’s stock valued at $11,614,000 after purchasing an additional 1,387,127 shares during the last quarter. Morgan Stanley boosted its holdings in Chevron by 7.9% during the second quarter. Morgan Stanley now owns 16,262,708 shares of the oil and gas company’s stock worth $2,023,732,000 after buying an additional 1,184,133 shares in the last quarter. Finally, California Public Employees Retirement System boosted its holdings in Chevron by 22.1% during the third quarter. California Public Employees Retirement System now owns 5,482,447 shares of the oil and gas company’s stock worth $650,218,000 after buying an additional 990,819 shares in the last quarter. Institutional investors own 65.47% of the company’s stock.
In other news, CEO Michael K. Wirth sold 67,500 shares of the stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $121.07, for a total value of $8,172,225.00. Following the completion of the sale, the chief executive officer now directly owns 33,750 shares of the company’s stock, valued at $4,086,112.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Rhonda J. Morris sold 7,800 shares of the firm’s stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $119.68, for a total transaction of $933,504.00. The disclosure for this sale can be found here. Insiders sold 90,300 shares of company stock valued at $10,904,079 in the last 90 days. Corporate insiders own 0.31% of the company’s stock.
Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, November 1st. The oil and gas company reported $1.36 EPS for the quarter, missing analysts’ consensus estimates of $1.47 by ($0.11). Chevron had a return on equity of 8.89% and a net margin of 8.70%. The firm had revenue of $36.12 billion during the quarter, compared to analyst estimates of $37.69 billion. During the same period in the prior year, the business posted $2.11 EPS. The company’s revenue for the quarter was down 17.9% on a year-over-year basis. Sell-side analysts predict that Chevron Co. will post 6.28 EPS for the current fiscal year.
Several research analysts have issued reports on CVX shares. Berenberg Bank reaffirmed a “hold” rating and issued a $128.00 price target on shares of Chevron in a report on Thursday, December 12th. Piper Jaffray Companies began coverage on Chevron in a research report on Tuesday, November 26th. They set a “buy” rating and a $143.00 price objective for the company. Cowen reduced their price objective on Chevron from $140.00 to $134.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. Bank of America cut Chevron from a “neutral” rating to an “underperform” rating in a report on Tuesday, January 7th. Finally, ValuEngine raised Chevron from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $137.26.
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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