American Institute for Advanced Investment Management LLP Trims Stock Position in Chevron Co. (NYSE:CVX)

American Institute for Advanced Investment Management LLP cut its holdings in shares of Chevron Co. (NYSE:CVX) by 4.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,066 shares of the oil and gas company’s stock after selling 315 shares during the period. American Institute for Advanced Investment Management LLP’s holdings in Chevron were worth $879,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Rational Advisors LLC acquired a new stake in Chevron during the third quarter valued at $29,000. Legacy Investment Solutions LLC acquired a new position in shares of Chevron in the third quarter worth about $29,000. Darwin Wealth Management LLC purchased a new stake in shares of Chevron during the 3rd quarter worth about $30,000. RPg Family Wealth Advisory LLC acquired a new stake in shares of Chevron during the 3rd quarter valued at about $31,000. Finally, Krane Funds Advisors LLC purchased a new position in shares of Chevron in the 3rd quarter valued at about $47,000. 72.42% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Scotiabank dropped their price objective on Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Piper Sandler cut their price target on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. Barclays increased their price objective on shares of Chevron from $168.00 to $174.00 and gave the company an “overweight” rating in a report on Monday, November 4th. Raymond James boosted their target price on shares of Chevron from $175.00 to $180.00 and gave the stock an “outperform” rating in a research note on Friday, January 17th. Finally, Royal Bank of Canada raised their price target on shares of Chevron from $170.00 to $175.00 and gave the company an “outperform” rating in a research note on Monday, November 4th. Four equities research 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 presently has an average rating of “Moderate Buy” and a consensus target price of $175.27.

Chevron Price Performance

Shares of CVX opened at $156.19 on Friday. The firm has a 50-day simple moving average of $153.56 and a two-hundred day simple moving average of $151.16. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $167.11. The stock has a market cap of $280.68 billion, a PE ratio of 17.16, a P/E/G ratio of 1.35 and a beta of 1.12.

Chevron (NYSE:CVX) last posted its earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.47 by $0.04. The firm had revenue of $50.67 billion for the quarter, compared to analyst estimates of $48.86 billion. Chevron had a return on equity of 13.15% and a net margin of 8.44%. Chevron’s revenue was down 6.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.05 EPS. As a group, analysts forecast that Chevron Co. will post 10.18 EPS for the current year.

Insider Activity

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of the stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the sale, the chief executive officer now directly owns 4,280 shares in the company, valued at $685,356.40. This represents a 97.47 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 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.