Viking Fund Management LLC Sells 200 Shares of Chevron Co. (NYSE:CVX)

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Viking Fund Management LLC decreased its position in shares of Chevron Co. (NYSE:CVX) by 1.9% in the fourth quarter, HoldingsChannel reports. The firm owned 10,400 shares of the oil and gas company’s stock after selling 200 shares during the quarter. Viking Fund Management LLC’s holdings in Chevron were worth $1,253,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of CVX. Transamerica Financial Advisors Inc. bought a new position in shares of Chevron in the 2nd quarter valued at about $46,000. Quantum Capital Management purchased a new position in Chevron in the third quarter worth about $51,000. Lenox Wealth Advisors LLC grew its position in Chevron by 54.6% in the fourth quarter. Lenox Wealth Advisors LLC now owns 433 shares of the oil and gas company’s stock worth $52,000 after acquiring an additional 153 shares in the last quarter. Vista Private Wealth Partners. LLC bought a new stake in Chevron during the third quarter worth approximately $56,000. Finally, Cordasco Financial Network increased its stake in Chevron by 38.5% during the third quarter. Cordasco Financial Network now owns 525 shares of the oil and gas company’s stock worth $62,000 after acquiring an additional 146 shares during the last quarter. 65.47% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE:CVX opened at $116.13 on Thursday. The firm has a market capitalization of $219.91 billion, a PE ratio of 14.08, a price-to-earnings-growth ratio of 4.83 and a beta of 1.02. The business has a 50 day simple moving average of $118.53 and a two-hundred day simple moving average of $119.56. Chevron Co. has a 1 year low of $110.17 and a 1 year high of $127.34. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.12 and a quick ratio of 0.93.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, November 1st. The oil and gas company reported $1.36 earnings per share for the quarter, missing the consensus estimate of $1.47 by ($0.11). Chevron had a return on equity of 8.89% and a net margin of 8.70%. The business had revenue of $36.12 billion during the quarter, compared to analysts’ expectations of $37.69 billion. During the same quarter in the previous year, the company posted $2.11 earnings per share. The company’s quarterly revenue was down 17.9% compared to the same quarter last year. Equities research analysts expect that Chevron Co. will post 6.28 EPS for the current fiscal year.

In other Chevron news, insider David A. Inchausti sold 15,000 shares of the stock in a transaction dated Monday, November 4th. The shares were 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 in the company, valued at approximately $1,798,350. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Rhonda J. Morris sold 7,800 shares of the firm’s stock in a transaction dated Tuesday, December 17th. The shares were 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 have sold a total of 90,300 shares of company stock worth $10,904,079 over the last 90 days. 0.31% of the stock is currently owned by company insiders.

Several research firms have recently issued reports on CVX. Bank of America lowered Chevron from a “neutral” rating to an “underperform” rating in a research note on Tuesday, January 7th. Berenberg Bank reiterated a “hold” rating and issued a $128.00 target price on shares of Chevron in a report on Thursday, December 12th. Cowen cut their target price on Chevron from $140.00 to $134.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. Piper Jaffray Companies began coverage on Chevron in a report on Tuesday, November 26th. They set a “buy” rating and a $143.00 price target on the stock. Finally, ValuEngine upgraded Chevron from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $137.26.

Chevron 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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Want to see what other hedge funds are holding CVX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Chevron Co. (NYSE:CVX).

Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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