Larson Financial Group LLC Acquires 117 Shares of Chevron Co. (NYSE:CVX)

Larson Financial Group LLC grew its holdings in Chevron Co. (NYSE:CVX) by 7.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,793 shares of the oil and gas company’s stock after purchasing an additional 117 shares during the quarter. Larson Financial Group LLC’s holdings in Chevron were worth $213,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Guidant Wealth Advisors raised its stake in Chevron by 63.9% in the second quarter. Guidant Wealth Advisors now owns 259 shares of the oil and gas company’s stock valued at $32,000 after purchasing an additional 101 shares in the last quarter. Evolution Wealth Advisors LLC bought a new position in Chevron during the second quarter worth $34,000. Transamerica Financial Advisors Inc. bought a new position in Chevron during the second quarter worth $46,000. Cordasco Financial Network raised its stake in Chevron by 55.3% in the second quarter. Cordasco Financial Network now owns 379 shares of the oil and gas company’s stock valued at $47,000 after purchasing an additional 135 shares in the last quarter. Finally, CKW Financial Group raised its stake in Chevron by 154.0% in the second quarter. CKW Financial Group now owns 414 shares of the oil and gas company’s stock valued at $51,000 after purchasing an additional 251 shares in the last quarter. 65.61% of the stock is currently owned by institutional investors.

Several brokerages have commented on CVX. BMO Capital Markets began coverage on Chevron in a research note on Tuesday, August 20th. They set an “outperform” rating and a $165.00 target price for the company. Independent Research set a $127.00 target price on Chevron and gave the stock a “neutral” rating in a research note on Thursday, August 29th. Morgan Stanley lowered their target price on Chevron from $146.00 to $144.00 and set an “overweight” rating for the company in a research note on Friday, July 12th. ValuEngine raised Chevron from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Finally, Barclays began coverage on Chevron in a research note on Monday, August 19th. They set an “overweight” rating and a $145.00 target price for the company. Five research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $137.47.

In related news, CFO Pierre R. Breber sold 15,000 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $124.97, for a total value of $1,874,550.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michael K. Wirth sold 33,750 shares of the stock in a transaction on Monday, September 16th. The shares were sold at an average price of $125.00, for a total value of $4,218,750.00. Following the completion of the sale, the chief executive officer now directly owns 33,750 shares of the company’s stock, valued at $4,218,750. The disclosure for this sale can be found here. Insiders sold a total of 86,750 shares of company stock valued at $10,648,200 over the last three months. 0.31% of the stock is currently owned by insiders.

Shares of NYSE:CVX traded up $1.63 during trading on Friday, reaching $116.22. 1,510,704 shares of the stock were exchanged, compared to its average volume of 6,429,116. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.15 and a quick ratio of 0.91. Chevron Co. has a 1-year low of $100.22 and a 1-year high of $127.34. The stock has a fifty day moving average of $118.48 and a two-hundred day moving average of $120.78. The firm has a market cap of $212.07 billion, a price-to-earnings ratio of 14.09, a price-to-earnings-growth ratio of 4.14 and a beta of 0.99.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.27 EPS for the quarter, beating analysts’ consensus estimates of $1.74 by $0.53. The business had revenue of $38.85 billion during the quarter, compared to analyst estimates of $40.14 billion. Chevron had a return on equity of 9.58% and a net margin of 9.18%. Chevron’s quarterly revenue was down 8.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.78 EPS. Sell-side analysts forecast that Chevron Co. will post 6.75 EPS for the current year.

About Chevron

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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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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