Redwood Investment Management LLC Lowers Stock Holdings in Chevron Co. (NYSE:CVX)

Redwood Investment Management LLC lowered its stake in Chevron Co. (NYSE:CVX) by 50.4% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,012 shares of the oil and gas company’s stock after selling 7,112 shares during the quarter. Redwood Investment Management LLC’s holdings in Chevron were worth $1,106,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Fermata Advisors LLC grew its holdings in Chevron by 3.0% during the 4th quarter. Fermata Advisors LLC now owns 6,457 shares of the oil and gas company’s stock valued at $963,000 after purchasing an additional 187 shares during the last quarter. Denali Advisors LLC bought a new position in Chevron in the 4th quarter worth about $254,000. BLB&B Advisors LLC grew its stake in Chevron by 2.8% in the 4th quarter. BLB&B Advisors LLC now owns 131,124 shares of the oil and gas company’s stock worth $19,559,000 after acquiring an additional 3,551 shares in the last quarter. Mirador Capital Partners LP grew its stake in Chevron by 13.7% in the 4th quarter. Mirador Capital Partners LP now owns 98,020 shares of the oil and gas company’s stock worth $14,621,000 after acquiring an additional 11,842 shares in the last quarter. Finally, Mayfair Advisory Group LLC grew its stake in Chevron by 3.4% in the 4th quarter. Mayfair Advisory Group LLC now owns 9,342 shares of the oil and gas company’s stock worth $1,396,000 after acquiring an additional 311 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Trading Down 2.2 %

CVX stock traded down $3.61 during trading on Thursday, reaching $156.86. 2,248,130 shares of the stock were exchanged, compared to its average volume of 7,725,651. The company has a current ratio of 1.23, a quick ratio of 0.93 and a debt-to-equity ratio of 0.13. The business has a 50 day moving average price of $156.64 and a 200-day moving average price of $155.93. Chevron Co. has a 1 year low of $139.62 and a 1 year high of $171.70. The firm has a market capitalization of $289.09 billion, a price-to-earnings ratio of 14.77, a P/E/G ratio of 2.56 and a beta of 1.10.

Wall Street Analysts Forecast Growth

CVX has been the subject of several research reports. Raymond James upped their price target on shares of Chevron from $170.00 to $174.00 and gave the stock an “outperform” rating in a research report on Monday, April 15th. HSBC increased their target price on shares of Chevron from $175.00 to $178.00 and gave the company a “buy” rating in a research report on Tuesday, April 30th. Sanford C. Bernstein cut shares of Chevron from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $183.00 to $167.00 in a report on Wednesday, July 17th. UBS Group raised their price target on shares of Chevron from $185.00 to $197.00 and gave the stock a “buy” rating in a report on Tuesday, April 9th. Finally, Scotiabank decreased their price target on shares of Chevron from $195.00 to $180.00 and set a “sector outperform” rating for the company in a report on Friday, July 12th. Seven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $185.59.

Insider Buying and Selling at Chevron

In other Chevron news, Director Enrique Hernandez, Jr. sold 2,549 shares of Chevron stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $165.24, for a total transaction of $421,196.76. Following the completion of the sale, the director now directly owns 27,725 shares in the company, valued at $4,581,279. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Chevron news, Director Enrique Hernandez, Jr. sold 2,549 shares of Chevron stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $165.24, for a total transaction of $421,196.76. Following the completion of the sale, the director now directly owns 27,725 shares in the company, valued at $4,581,279. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Enrique Hernandez, Jr. sold 5,098 shares of Chevron stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $163.50, for a total transaction of $833,523.00. Following the completion of the transaction, the director now owns 2,549 shares of the company’s stock, valued at approximately $416,761.50. The disclosure for this sale can be found here. Insiders sold a total of 11,397 shares of company stock worth $1,855,582 over the last three months. Insiders own 0.20% of the company’s stock.

About Chevron

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