Valicenti Advisory Services Inc. Reduces Stock Position in Chevron Co. (NYSE:CVX)

Valicenti Advisory Services Inc. reduced its holdings in Chevron Co. (NYSE:CVX) by 2.8% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 23,959 shares of the oil and gas company’s stock after selling 694 shares during the period. Chevron makes up 1.5% of Valicenti Advisory Services Inc.’s portfolio, making the stock its 23rd largest holding. Valicenti Advisory Services Inc.’s holdings in Chevron were worth $2,981,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Foothills Asset Management Ltd. boosted its stake in shares of Chevron by 94.2% during the 2nd quarter. Foothills Asset Management Ltd. now owns 39,352 shares of the oil and gas company’s stock worth $4,897,000 after purchasing an additional 19,090 shares during the period. Allied Investment Advisors LLC lifted its holdings in Chevron by 48.4% during the 2nd quarter. Allied Investment Advisors LLC now owns 12,766 shares of the oil and gas company’s stock valued at $1,589,000 after buying an additional 4,165 shares in the last quarter. Gateway Investment Advisers LLC lifted its holdings in Chevron by 0.8% during the 2nd quarter. Gateway Investment Advisers LLC now owns 1,026,536 shares of the oil and gas company’s stock valued at $127,742,000 after buying an additional 8,116 shares in the last quarter. Northwest Quadrant Wealth Management LLC lifted its holdings in Chevron by 5.1% during the 2nd quarter. Northwest Quadrant Wealth Management LLC now owns 6,615 shares of the oil and gas company’s stock valued at $814,000 after buying an additional 319 shares in the last quarter. Finally, Moseley Investment Management Inc. lifted its holdings in Chevron by 6.2% during the 2nd quarter. Moseley Investment Management Inc. now owns 10,789 shares of the oil and gas company’s stock valued at $1,343,000 after buying an additional 630 shares in the last quarter. 65.55% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE:CVX traded down $0.53 during trading hours on Wednesday, hitting $123.81. The company’s stock had a trading volume of 2,345,454 shares, compared to its average volume of 4,203,970. Chevron Co. has a 52 week low of $100.22 and a 52 week high of $128.55. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.12 and a quick ratio of 0.90. The firm has a market capitalization of $236.40 billion, a P/E ratio of 15.01, a price-to-earnings-growth ratio of 3.05 and a beta of 1.00. The company’s fifty day moving average is $123.95.

In other news, Chairman Michael K. Wirth sold 33,750 shares of Chevron stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $125.60, for a total value of $4,239,000.00. Following the transaction, the chairman now owns 33,750 shares of the company’s stock, valued at approximately $4,239,000. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Enrique Hernandez, Jr. sold 4,200 shares of Chevron stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $122.13, for a total transaction of $512,946.00. Following the completion of the transaction, the director now directly owns 15,689 shares in the company, valued at approximately $1,916,097.57. The disclosure for this sale can be found here. In the last 90 days, insiders sold 40,050 shares of company stock valued at $5,007,621. Company insiders own 0.31% of the company’s stock.

CVX has been the subject of a number of research analyst reports. Citigroup set a $13.00 price objective on shares of e.l.f. Beauty and gave the company a “hold” rating in a report on Monday, May 13th. Cowen reiterated a “market perform” rating and set a $99.00 price objective (up previously from $97.00) on shares of United Continental in a report on Wednesday, April 17th. Zacks Investment Research lowered shares of GENEL ENERGY PL/ADR from a “buy” rating to a “hold” rating in a report on Tuesday, May 7th. Bank of America set a $144.00 price objective on shares of Walt Disney and gave the company a “buy” rating in a report on Friday, April 12th. Finally, Morgan Stanley set a $207.00 price objective on shares of Alibaba Group and gave the company a “buy” rating in a report on Friday, July 12th. Six investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. Chevron has a consensus rating of “Buy” and an average price target of $135.72.

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.

Further Reading: Lock-Up Period Expiration

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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