Korea Investment CORP lowered its stake in shares of Chevron Co. (NYSE:CVX) by 2.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,444,510 shares of the oil and gas company’s stock after selling 32,100 shares during the period. Chevron comprises 0.8% of Korea Investment CORP’s portfolio, making the stock its 19th largest holding. Korea Investment CORP owned 0.08% of Chevron worth $169,730,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently added to or reduced their stakes in the company. Shine Investment Advisory Services Inc. purchased a new stake in shares of Chevron in the second quarter valued at about $106,000. Thompson Davis & CO. Inc. lifted its holdings in shares of Chevron by 20.0% in the first quarter. Thompson Davis & CO. Inc. now owns 1,146 shares of the oil and gas company’s stock valued at $123,000 after purchasing an additional 191 shares in the last quarter. Winfield Associates Inc. lifted its holdings in shares of Chevron by 5.1% in the second quarter. Winfield Associates Inc. now owns 1,301 shares of the oil and gas company’s stock valued at $136,000 after purchasing an additional 63 shares in the last quarter. Daiwa SB Investments Ltd. lifted its holdings in shares of Chevron by 438.5% in the second quarter. Daiwa SB Investments Ltd. now owns 1,400 shares of the oil and gas company’s stock valued at $146,000 after purchasing an additional 1,140 shares in the last quarter. Finally, Acrospire Investment Management LLC raised its position in shares of Chevron by 133.3% in the second quarter. Acrospire Investment Management LLC now owns 1,400 shares of the oil and gas company’s stock valued at $146,000 after buying an additional 800 shares during the last quarter. 63.80% of the stock is currently owned by hedge funds and other institutional investors.
In other Chevron news, Vice Chairman Michael K. Wirth sold 1,229 shares of the stock in a transaction on Tuesday, November 7th. The shares were sold at an average price of $118.00, for a total transaction of $145,022.00. Following the transaction, the insider now directly owns 1,229 shares in the company, valued at approximately $145,022. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Patricia E. Yarrington sold 13,143 shares of the stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $115.01, for a total transaction of $1,511,576.43. Following the transaction, the chief financial officer now owns 17,981 shares in the company, valued at $2,067,994.81. The disclosure for this sale can be found here. Insiders sold 314,000 shares of company stock valued at $36,540,822 over the last 90 days. Insiders own 0.38% of the company’s stock.
Shares of Chevron Co. (NYSE:CVX) opened at $133.60 on Friday. The stock has a market cap of $253,760.00, a price-to-earnings ratio of 38.95, a PEG ratio of 2.97 and a beta of 1.21. The company has a quick ratio of 0.84, a current ratio of 1.04 and a debt-to-equity ratio of 0.23. Chevron Co. has a 52-week low of $102.55 and a 52-week high of $133.85.
Chevron (NYSE:CVX) last announced its earnings results on Friday, October 27th. The oil and gas company reported $1.03 earnings per share 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 quarterly revenue was up 20.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.68 earnings per share. research analysts forecast that Chevron Co. will post 4.35 EPS for the current fiscal year.
A number of research firms have recently weighed in on CVX. Vetr lowered shares of Chevron from a “buy” rating to a “hold” rating and set a $134.35 price objective for the company. in a research report on Thursday. BMO Capital Markets raised shares of Chevron from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $120.00 to $140.00 in a research report on Thursday. Bank of America lowered shares of Chevron from a “buy” rating to a “neutral” rating and set a $125.00 price target for the company. in a research report on Thursday, January 4th. They noted that the move was a valuation call. Zacks Investment Research raised shares of Chevron from a “hold” rating to a “buy” rating and set a $140.00 price target for the company in a research report on Wednesday, December 27th. Finally, Scotiabank reaffirmed a “buy” rating and set a $130.00 price target on shares of Chevron in a research report on Friday, December 22nd. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and fifteen have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $126.06.
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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.
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