Somerville Kurt F grew its holdings in Chevron Co. (NYSE:CVX) by 20.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 57,790 shares of the oil and gas company’s stock after acquiring 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 reporting period.
Several other institutional investors have also made changes to their positions in CVX. Kidder Stephen W lifted its holdings in shares of Chevron by 23.7% in the fourth quarter. Kidder Stephen W now owns 37,130 shares of the oil and gas company’s stock valued at $4,474,000 after purchasing an additional 7,110 shares in the last quarter. Dempze Nancy E raised its holdings in shares of Chevron by 8.4% in the fourth quarter. Dempze Nancy E now owns 3,560 shares of the oil and gas company’s stock valued at $429,000 after purchasing an additional 275 shares during the last quarter. Gardiner Nancy B raised its holdings in shares of Chevron by 21.0% in the fourth quarter. Gardiner Nancy B now owns 4,410 shares of the oil and gas company’s stock valued at $531,000 after purchasing an additional 765 shares during the last quarter. Elefante Mark B lifted its position in shares of Chevron by 8.5% in 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 in the last quarter. Finally, Gradient Investments LLC lifted its position in shares of Chevron by 7.1% in 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 in the last quarter. Institutional investors own 65.47% of the company’s stock.
In other Chevron news, VP Rhonda J. Morris sold 7,800 shares of the stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $119.68, for a total transaction of $933,504.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Michael K. Wirth sold 67,500 shares of the stock in a transaction on Monday, January 6th. The stock was sold at an average price of $121.07, for a total value of $8,172,225.00. Following the transaction, the chief executive officer now owns 33,750 shares in the company, valued at approximately $4,086,112.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 90,300 shares of company stock valued at $10,904,079. 0.31% of the stock is currently owned by insiders.
NYSE CVX opened at $116.13 on Thursday. The stock has a market cap of $219.91 billion, a PE ratio of 14.08, a P/E/G ratio of 4.83 and a beta of 1.02. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.93 and a current ratio of 1.12. The firm has a 50-day moving average of $118.53 and a 200-day moving average of $119.56. Chevron Co. has a 52-week low of $110.17 and a 52-week high of $127.34.
Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, November 1st. The oil and gas company reported $1.36 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.47 by ($0.11). Chevron had a net margin of 8.70% and a return on equity of 8.89%. The company had revenue of $36.12 billion during the quarter, compared to the consensus estimate of $37.69 billion. During the same period in the prior year, the company earned $2.11 earnings per share. The firm’s revenue was down 17.9% compared to the same quarter last year. As a group, analysts predict that Chevron Co. will post 6.28 EPS for the current fiscal year.
A number of equities analysts have recently commented on the stock. ValuEngine upgraded shares of Chevron from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Berenberg Bank reissued a “hold” rating and set a $128.00 price target on shares of Chevron in a research report on Thursday, December 12th. Cowen reduced their price target on Chevron from $140.00 to $134.00 and set an “outperform” rating for the company in a research report on Friday, November 1st. Citigroup downgraded Chevron from a “buy” rating to a “neutral” rating in a research note on Monday, December 9th. Finally, Piper Jaffray Companies assumed coverage on Chevron in a research report on Tuesday, November 26th. They set a “buy” rating and a $143.00 price target on the stock. One analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have assigned a buy rating to the company. Chevron currently has a consensus rating of “Buy” and an average price target of $137.26.
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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