Chevron Co. (NYSE:CVX) Shares Bought by Silver Lake Advisory LLC

Silver Lake Advisory LLC raised its holdings in Chevron Co. (NYSE:CVX) by 15.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,125 shares of the oil and gas company’s stock after acquiring an additional 697 shares during the quarter. Silver Lake Advisory LLC’s holdings in Chevron were worth $608,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Avitas Wealth Management LLC lifted its holdings in Chevron by 1.3% in the 3rd quarter. Avitas Wealth Management LLC now owns 29,635 shares of the oil and gas company’s stock valued at $3,515,000 after acquiring an additional 371 shares during the last quarter. Whittier Trust Co. lifted its holdings in Chevron by 4.2% in the 3rd quarter. Whittier Trust Co. now owns 297,392 shares of the oil and gas company’s stock valued at $35,271,000 after acquiring an additional 12,020 shares during the last quarter. Stephens Inc. AR lifted its holdings in Chevron by 1.6% in the 3rd quarter. Stephens Inc. AR now owns 212,815 shares of the oil and gas company’s stock valued at $25,240,000 after acquiring an additional 3,451 shares during the last quarter. Coastline Trust Co lifted its holdings in Chevron by 2.3% in the 3rd quarter. Coastline Trust Co now owns 25,192 shares of the oil and gas company’s stock valued at $2,988,000 after acquiring an additional 568 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. lifted its holdings in Chevron by 1.2% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 129,834 shares of the oil and gas company’s stock valued at $15,399,000 after acquiring an additional 1,503 shares during the last quarter. 65.62% of the stock is owned by institutional investors.

CVX has been the subject of a number of analyst reports. BMO Capital Markets initiated coverage on shares of Chevron in a research note on Tuesday, August 20th. They set an “outperform” rating and a $165.00 price objective for the company. Cowen set a $140.00 price objective on shares of Chevron and gave the company a “buy” rating in a research note on Tuesday, October 15th. Morgan Stanley reduced their price objective on shares of Chevron from $146.00 to $144.00 and set an “overweight” rating for the company in a research note on Friday, July 12th. Barclays initiated coverage on shares of Chevron in a research note on Monday, August 19th. They set an “overweight” rating and a $145.00 price objective for the company. Finally, Independent Research set a $127.00 price objective on shares of Chevron and gave the company a “neutral” rating in a research note on Thursday, August 29th. Five research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $137.47.

In other news, CEO Michael K. Wirth sold 33,750 shares of the company’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $125.00, for a total value of $4,218,750.00. Following the transaction, the chief executive officer now owns 33,750 shares in the company, valued at approximately $4,218,750. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Joseph C. Geagea sold 15,000 shares of the company’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $116.98, for a total value of $1,754,700.00. Following the completion of the transaction, the executive vice president now owns 6,243 shares in the company, valued at approximately $730,306.14. The disclosure for this sale can be found here. Insiders sold a total of 86,750 shares of company stock worth $10,648,200 in the last quarter. 0.31% of the stock is owned by corporate insiders.

Shares of CVX traded up $1.46 during trading hours on Monday, reaching $116.20. The company’s stock had a trading volume of 699,730 shares, compared to its average volume of 5,651,156. The firm has a market cap of $218.98 billion, a price-to-earnings ratio of 14.08, a P/E/G ratio of 4.38 and a beta of 0.99. Chevron Co. has a 1-year low of $100.22 and a 1-year high of $127.34. The company has a quick ratio of 0.91, a current ratio of 1.15 and a debt-to-equity ratio of 0.16. The company has a 50 day moving average of $118.43 and a two-hundred day moving average of $120.49.

Chevron (NYSE:CVX) last issued its earnings results on Friday, August 2nd. The oil and gas company reported $2.27 earnings per share for the quarter, beating analysts’ consensus estimates of $1.74 by $0.53. The company had revenue of $38.85 billion for the quarter, compared to the consensus estimate of $40.14 billion. Chevron had a return on equity of 9.58% and a net margin of 9.18%. The firm’s quarterly revenue was down 8.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.78 EPS. As a group, analysts forecast that Chevron Co. will post 6.16 EPS for the current fiscal 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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