Chevron Co. (CVX) Stake Lessened by Hennessy Advisors Inc.

Hennessy Advisors Inc. lessened its stake in shares of Chevron Co. (NYSE:CVX) by 3.7% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 99,125 shares of the oil and gas company’s stock after selling 3,850 shares during the quarter. Hennessy Advisors Inc.’s holdings in Chevron were worth $11,647,000 as of its most recent filing with the SEC.

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

In related news, insider Pierre R. Breber sold 23,250 shares of the firm’s stock in a transaction on Monday, November 13th. The stock was sold at an average price of $116.85, for a total transaction of $2,716,762.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Patricia E. Yarrington sold 13,143 shares of the firm’s stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $115.01, for a total value of $1,511,576.43. Following the sale, the chief financial officer now directly owns 17,981 shares of the company’s stock, valued at $2,067,994.81. The disclosure for this sale can be found here. Over the last three months, insiders sold 288,500 shares of company stock valued at $33,480,822. 0.38% of the stock is currently owned by insiders.

CVX has been the subject of several recent analyst reports. Morgan Stanley increased their target price on Chevron from $120.00 to $130.00 and gave the company an “overweight” rating in a research note on Wednesday, October 18th. Citigroup increased their target price on Chevron from $118.00 to $128.00 and gave the company a “buy” rating in a research note on Monday, October 30th. Zacks Investment Research downgraded Chevron from a “buy” rating to a “hold” rating in a research note on Tuesday, November 14th. Wolfe Research upgraded Chevron from a “market perform” rating to an “outperform” rating in a research note on Monday, October 16th. Finally, Vetr downgraded Chevron from a “buy” rating to a “hold” rating and set a $124.92 target price for the company. in a research note on Monday, October 16th. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and fourteen have issued a buy rating to the stock. Chevron presently has an average rating of “Hold” and an average price target of $126.06.

Chevron Co. (CVX) opened at $131.30 on Friday. Chevron Co. has a twelve month low of $102.55 and a twelve month high of $133.88. The company has a quick ratio of 0.84, a current ratio of 1.04 and a debt-to-equity ratio of 0.23. The stock has a market capitalization of $249,387.81, a P/E ratio of 36.78, a PEG ratio of 2.82 and a beta of 1.21.

Chevron (NYSE:CVX) last issued its earnings results on Friday, October 27th. The oil and gas company reported $1.03 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.99 by $0.04. Chevron had a return on equity of 4.59% and a net margin of 4.79%. The business had revenue of $36.21 billion during the quarter, compared to analysts’ expectations of $34.06 billion. During the same period in the prior year, the firm posted $0.68 EPS. Chevron’s quarterly revenue was up 20.1% compared to the same quarter last year. research analysts predict that Chevron Co. will post 4.37 earnings per share for the current year.

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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.

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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