SignalPoint Asset Management LLC Sells 2,383 Shares of Chevron Co. (NYSE:CVX)

SignalPoint Asset Management LLC decreased its position in shares of Chevron Co. (NYSE:CVX) by 12.5% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 16,712 shares of the oil and gas company’s stock after selling 2,383 shares during the period. Chevron makes up approximately 1.0% of SignalPoint Asset Management LLC’s holdings, making the stock its 21st largest holding. SignalPoint Asset Management LLC’s holdings in Chevron were worth $1,963,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CVX. Vanguard Group Inc. grew its stake in shares of Chevron by 2.9% in the second quarter. Vanguard Group Inc. now owns 139,626,287 shares of the oil and gas company’s stock worth $14,567,210,000 after purchasing an additional 3,920,240 shares during the last quarter. BlackRock Inc. grew its stake in shares of Chevron by 1.6% in the second quarter. BlackRock Inc. now owns 124,678,992 shares of the oil and gas company’s stock worth $13,007,759,000 after purchasing an additional 1,975,865 shares during the last quarter. Capital World Investors grew its stake in shares of Chevron by 9.8% in the second quarter. Capital World Investors now owns 35,546,848 shares of the oil and gas company’s stock worth $3,708,603,000 after purchasing an additional 3,182,250 shares during the last quarter. Northern Trust Corp grew its stake in shares of Chevron by 0.6% in the second quarter. Northern Trust Corp now owns 26,153,161 shares of the oil and gas company’s stock worth $2,728,558,000 after purchasing an additional 157,021 shares during the last quarter. Finally, Franklin Resources Inc. grew its stake in shares of Chevron by 0.3% in the second quarter. Franklin Resources Inc. now owns 15,609,647 shares of the oil and gas company’s stock worth $1,628,554,000 after purchasing an additional 49,083 shares during the last quarter. Institutional investors and hedge funds own 63.84% of the company’s stock.

Chevron Co. (CVX) opened at $132.01 on Wednesday. Chevron Co. has a 1-year low of $102.55 and a 1-year high of $133.88. The company has a market cap of $250,740.00, a PE ratio of 38.49, a price-to-earnings-growth ratio of 2.95 and a beta of 1.21. The company has a current ratio of 1.04, a quick ratio of 0.84 and a debt-to-equity ratio of 0.23.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, October 27th. The oil and gas company reported $1.03 EPS for the quarter, beating the consensus estimate of $0.99 by $0.04. The business had revenue of $36.21 billion during the quarter, compared to the consensus estimate of $34.06 billion. Chevron had a net margin of 4.79% and a return on equity of 4.59%. The business’s revenue was up 20.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.68 EPS. equities research analysts forecast that Chevron Co. will post 4.35 earnings per share for the current fiscal year.

In other news, Vice Chairman Michael K. Wirth sold 1,229 shares of the company’s stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $118.00, for a total transaction of $145,022.00. Following the sale, the insider now directly owns 1,229 shares in the company, valued at approximately $145,022. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Michael K. Wirth sold 110,771 shares of the company’s stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $116.17, for a total transaction of $12,868,267.07. Following the sale, the executive vice president now owns 110,771 shares in the company, valued at $12,868,267.07. The disclosure for this sale can be found here. Insiders have sold a total of 288,500 shares of company stock worth $33,480,822 over the last 90 days. Corporate insiders own 0.38% of the company’s stock.

CVX has been the topic of several research reports. Jefferies Group reaffirmed a “buy” rating and set a $137.00 price objective (up from $113.54) on shares of Chevron in a research report on Monday, October 30th. Zacks Investment Research raised Chevron from a “hold” rating to a “buy” rating and set a $131.00 price target on the stock in a research report on Friday, November 10th. Citigroup boosted their price target on Chevron from $118.00 to $128.00 and gave the stock a “buy” rating in a research report on Monday, October 30th. Goldman Sachs Group reissued a “buy” rating and issued a $123.00 price target (up from $118.00) on shares of Chevron in a research report on Tuesday, September 19th. Finally, Wolfe Research upgraded shares of Chevron from a “market perform” rating to an “outperform” rating in a report on Monday, October 16th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and fifteen have issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of $126.06.

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About Chevron

Chevron Corporation (Chevron) manages its investments in subsidiaries and affiliates, and provides administrative, financial, management and technology support to the United States and international subsidiaries that engage in integrated energy and chemicals operations. The Company operates through two business segments: Upstream and Downstream.

Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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