180 Wealth Advisors LLC lessened its holdings in Chevron Co. (NYSE:CVX) by 6.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 28,324 shares of the oil and gas company’s stock after selling 1,830 shares during the period. Chevron comprises approximately 1.5% of 180 Wealth Advisors LLC’s portfolio, making the stock its 13th biggest position. 180 Wealth Advisors LLC’s holdings in Chevron were worth $3,290,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CVX. Murphy Middleton Hinkle & Parker Inc. lifted its position in shares of Chevron by 0.6% in the second quarter. Murphy Middleton Hinkle & Parker Inc. now owns 14,149 shares of the oil and gas company’s stock worth $1,761,000 after buying an additional 84 shares during the last quarter. Arlington Financial Advisors LLC lifted its position in shares of Chevron by 0.4% in the second quarter. Arlington Financial Advisors LLC now owns 20,221 shares of the oil and gas company’s stock worth $2,516,000 after buying an additional 85 shares during the last quarter. Horan Capital Advisors LLC. lifted its position in shares of Chevron by 2.6% in the third quarter. Horan Capital Advisors LLC. now owns 3,311 shares of the oil and gas company’s stock worth $393,000 after buying an additional 85 shares during the last quarter. Landsberg Bennett & Dubbaneh LLC lifted its position in shares of Chevron by 1.7% in the second quarter. Landsberg Bennett & Dubbaneh LLC now owns 5,051 shares of the oil and gas company’s stock worth $631,000 after buying an additional 86 shares during the last quarter. Finally, JNBA Financial Advisors lifted its position in shares of Chevron by 1.6% in the second quarter. JNBA Financial Advisors now owns 5,604 shares of the oil and gas company’s stock worth $697,000 after buying an additional 86 shares during the last quarter. 65.62% of the stock is owned by hedge funds and other institutional investors.
In related news, EVP Joseph C. Geagea sold 10,000 shares of the business’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $122.97, for a total transaction of $1,229,700.00. Following the transaction, the executive vice president now directly owns 11,243 shares in the company, valued at $1,382,551.71. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Debra L. Reed purchased 4,250 shares of the stock in a transaction that occurred on Wednesday, August 7th. The shares were purchased at an average price of $118.14 per share, for a total transaction of $502,095.00. The disclosure for this purchase can be found here. Insiders have sold 86,750 shares of company stock worth $10,648,200 over the last 90 days. Corporate insiders own 0.31% of the company’s stock.
Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.74 by $0.53. Chevron had a return on equity of 9.58% and a net margin of 9.18%. The firm had revenue of $38.85 billion for the quarter, compared to analyst estimates of $40.14 billion. During the same period in the previous year, the company posted $1.78 earnings per share. The company’s quarterly revenue was down 8.0% compared to the same quarter last year. Equities research analysts expect that Chevron Co. will post 6.16 EPS for the current year.
CVX has been the topic of a number of recent analyst reports. ValuEngine upgraded Chevron from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Barclays initiated coverage on Chevron in a research note on Monday, August 19th. They issued an “overweight” rating and a $145.00 price objective on the stock. Morgan Stanley dropped their price objective on Chevron from $146.00 to $144.00 and set an “overweight” rating on the stock in a research note on Friday, July 12th. Cowen set a $140.00 price objective on Chevron and gave the stock a “buy” rating in a research note on Tuesday, October 15th. Finally, Independent Research set a $127.00 price objective on Chevron and gave the stock a “neutral” rating in a research note on Thursday, August 29th. Five equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Chevron presently has an average rating of “Buy” and an average price target of $137.47.
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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