Somerville Kurt F lifted its position in shares of Chevron Co. (NYSE:CVX) by 20.6% during the 4th quarter, HoldingsChannel.com reports. The firm owned 57,790 shares of the oil and gas company’s stock after buying an additional 9,867 shares during the quarter. Somerville Kurt F’s holdings in Chevron were worth $6,965,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in the company. Kidder Stephen W increased its position in Chevron by 23.7% in the 4th quarter. Kidder Stephen W now owns 37,130 shares of the oil and gas company’s stock valued at $4,474,000 after acquiring an additional 7,110 shares during the period. Dempze Nancy E raised its stake in shares of Chevron by 8.4% during the fourth quarter. Dempze Nancy E now owns 3,560 shares of the oil and gas company’s stock valued at $429,000 after acquiring an additional 275 shares during the last quarter. Gardiner Nancy B raised its stake in shares of Chevron by 21.0% during the fourth quarter. Gardiner Nancy B now owns 4,410 shares of the oil and gas company’s stock valued at $531,000 after acquiring an additional 765 shares during the last quarter. Elefante Mark B lifted its holdings in shares of Chevron by 8.5% during the fourth quarter. Elefante Mark B now owns 2,550 shares of the oil and gas company’s stock worth $308,000 after purchasing an additional 200 shares during the period. Finally, Gradient Investments LLC lifted its holdings in shares of Chevron by 7.1% during the fourth quarter. Gradient Investments LLC now owns 117,120 shares of the oil and gas company’s stock worth $14,114,000 after purchasing an additional 7,733 shares during the period. 65.47% of the stock is owned by institutional investors.
Several analysts recently weighed in on CVX shares. Berenberg Bank reissued a “hold” rating and issued a $128.00 price objective on shares of Chevron in a research note on Thursday, December 12th. Bank of America lowered Chevron from a “neutral” rating to an “underperform” rating in a research report on Tuesday, January 7th. ValuEngine raised Chevron from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Piper Jaffray Companies began coverage on Chevron in a research report on Tuesday, November 26th. They issued a “buy” rating and a $143.00 price target on the stock. Finally, Cowen reduced their price target on Chevron from $140.00 to $134.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and nine have assigned a buy rating to the company. Chevron has an average rating of “Buy” and a consensus price target of $137.26.
Chevron (NYSE:CVX) last released its earnings results on Friday, November 1st. The oil and gas company reported $1.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.47 by ($0.11). The firm had revenue of $36.12 billion during the quarter, compared to analyst estimates of $37.69 billion. Chevron had a net margin of 8.70% and a return on equity of 8.89%. Chevron’s quarterly revenue was down 17.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.11 EPS. Sell-side analysts anticipate that Chevron Co. will post 6.28 EPS for the current fiscal year.
In related news, VP Rhonda J. Morris sold 7,800 shares of the company’s stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $119.68, for a total transaction of $933,504.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider David A. Inchausti sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $119.89, for a total value of $1,798,350.00. Following the sale, the insider now directly owns 15,000 shares of the company’s stock, valued at approximately $1,798,350. 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 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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