Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its holdings in shares of Chevron Co. (NYSE:CVX) by 49.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 500,611 shares of the oil and gas company’s stock after purchasing an additional 164,518 shares during the period. Chevron makes up about 1.4% of Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s investment portfolio, making the stock its 8th largest holding. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in Chevron were worth $58,822,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of the business. Shine Investment Advisory Services Inc. purchased a new position in shares of Chevron in the 2nd quarter worth $106,000. Winfield Associates Inc. boosted its stake in shares of Chevron by 5.1% in the 2nd quarter. Winfield Associates Inc. now owns 1,301 shares of the oil and gas company’s stock worth $136,000 after buying an additional 63 shares during the last quarter. Daiwa SB Investments Ltd. boosted its stake in shares of Chevron by 438.5% in the 2nd quarter. Daiwa SB Investments Ltd. now owns 1,400 shares of the oil and gas company’s stock worth $146,000 after buying an additional 1,140 shares during the last quarter. Acrospire Investment Management LLC raised its holdings in Chevron by 133.3% in the 2nd quarter. Acrospire Investment Management LLC now owns 1,400 shares of the oil and gas company’s stock worth $146,000 after purchasing an additional 800 shares during the period. Finally, Accurate Investment Solutions Inc. raised its holdings in Chevron by 59.1% in the 3rd quarter. Accurate Investment Solutions Inc. now owns 1,352 shares of the oil and gas company’s stock worth $159,000 after purchasing an additional 502 shares during the period. Institutional investors and hedge funds own 63.80% of the company’s stock.
In other news, Vice Chairman Michael K. Wirth sold 1,229 shares of Chevron stock in a transaction dated Tuesday, November 7th. The stock was sold at an average price of $118.00, for a total value of $145,022.00. Following the sale, the insider now directly owns 1,229 shares of the company’s stock, valued at $145,022. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP R. Hewitt Pate sold 25,500 shares of Chevron stock in a transaction dated Monday, October 16th. The stock was sold at an average price of $120.00, for a total value of $3,060,000.00. Following the completion of the sale, the vice president now directly owns 25,500 shares in the company, valued at $3,060,000. The disclosure for this sale can be found here. Insiders sold 314,000 shares of company stock worth $36,540,822 over the last ninety days. Insiders own 0.38% of the company’s stock.
Shares of Chevron Co. (CVX) opened at $133.60 on Friday. The company has a current ratio of 1.04, a quick ratio of 0.84 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $253,760.00, a PE ratio of 38.95, a price-to-earnings-growth ratio of 2.97 and a beta of 1.21. Chevron Co. has a twelve month low of $102.55 and a twelve month high of $133.85.
Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, October 27th. The oil and gas company reported $1.03 EPS for the quarter, beating the Zacks’ consensus estimate of $0.99 by $0.04. The business had revenue of $36.21 billion for the quarter, compared to analysts’ expectations of $34.06 billion. Chevron had a return on equity of 4.59% and a net margin of 4.79%. The business’s quarterly revenue was up 20.1% on a year-over-year basis. During the same period last year, the firm earned $0.68 earnings per share. equities research analysts predict that Chevron Co. will post 4.35 EPS for the current year.
CVX has been the topic of a number of recent research reports. Morgan Stanley raised their target price on Chevron from $120.00 to $130.00 and gave the stock an “overweight” rating in a report on Wednesday, October 18th. Royal Bank of Canada set a $110.00 target price on Chevron and gave the stock a “sell” rating in a report on Wednesday, December 20th. Barclays raised their target price on Chevron from $120.00 to $130.00 and gave the stock an “overweight” rating in a report on Tuesday, October 10th. Scotiabank reaffirmed a “buy” rating on shares of Chevron in a report on Friday, September 15th. Finally, Jefferies Group reaffirmed a “buy” rating and issued a $130.00 target price on shares of Chevron in a report on Tuesday, October 3rd. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $126.06.
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Chevron Company Profile
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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