Sitrin Capital Management LLC Has $4.64 Million Stock Position in Chevron Co. (NYSE:CVX)

Sitrin Capital Management LLC decreased its holdings in shares of Chevron Co. (NYSE:CVX) by 0.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 38,484 shares of the oil and gas company’s stock after selling 325 shares during the quarter. Chevron makes up 2.4% of Sitrin Capital Management LLC’s holdings, making the stock its 27th biggest position. Sitrin Capital Management LLC’s holdings in Chevron were worth $4,638,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Transamerica Financial Advisors Inc. acquired a new stake in shares of Chevron during the second quarter worth $46,000. Quantum Capital Management acquired a new stake in shares of Chevron during the third quarter worth $51,000. Lenox Wealth Advisors LLC lifted its holdings in shares of Chevron by 54.6% during the fourth quarter. Lenox Wealth Advisors LLC now owns 433 shares of the oil and gas company’s stock worth $52,000 after buying an additional 153 shares in the last quarter. Vista Private Wealth Partners. LLC acquired a new stake in shares of Chevron during the third quarter worth $56,000. Finally, Cordasco Financial Network lifted its holdings in shares of Chevron by 38.5% during the third quarter. Cordasco Financial Network now owns 525 shares of the oil and gas company’s stock worth $62,000 after buying an additional 146 shares in the last quarter. 65.47% of the stock is owned by institutional investors.

Shares of CVX stock opened at $116.66 on Tuesday. The business’s 50-day moving average price is $118.60 and its 200-day moving average price is $119.63. Chevron Co. has a 12 month low of $110.17 and a 12 month high of $127.34. The firm has a market capitalization of $220.17 billion, a price-to-earnings ratio of 14.14, a PEG ratio of 4.88 and a beta of 1.02. The company has a current ratio of 1.12, a quick ratio of 0.93 and a debt-to-equity ratio of 0.16.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, November 1st. The oil and gas company reported $1.36 EPS for the quarter, missing the Zacks’ consensus estimate of $1.47 by ($0.11). Chevron had a net margin of 8.70% and a return on equity of 8.89%. The firm had revenue of $36.12 billion for the quarter, compared to analyst estimates of $37.69 billion. During the same period in the previous year, the business posted $2.11 earnings per share. The business’s revenue for the quarter was down 17.9% compared to the same quarter last year. On average, sell-side analysts predict that Chevron Co. will post 6.46 earnings per share for the current fiscal year.

A number of research analysts recently commented on CVX shares. Bank of America cut Chevron from a “neutral” rating to an “underperform” rating in a research report on Tuesday, January 7th. Cowen decreased their price target on Chevron from $140.00 to $134.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. Berenberg Bank reiterated a “hold” rating and issued a $128.00 target price on shares of Chevron in a research report on Thursday, December 12th. Citigroup cut Chevron from a “buy” rating to a “neutral” rating in a research report on Monday, December 9th. Finally, Piper Jaffray Companies began coverage on Chevron in a research report on Tuesday, November 26th. They issued a “buy” rating and a $143.00 target price on the stock. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the company’s stock. Chevron currently has a consensus rating of “Hold” and an average target price of $136.31.

In related news, CEO Michael K. Wirth sold 67,500 shares of Chevron stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $121.07, for a total value of $8,172,225.00. Following the transaction, the chief executive officer now directly owns 33,750 shares of the company’s stock, valued at $4,086,112.50. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider David A. Inchausti sold 15,000 shares of Chevron stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $119.89, for a total value of $1,798,350.00. Following the completion of the transaction, the insider now directly owns 15,000 shares in the company, valued at $1,798,350. The disclosure for this sale can be found here. Insiders have sold 90,300 shares of company stock worth $10,904,079 over the last three months. Insiders own 0.31% of the company’s stock.

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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