Marathon Trading Investment Management LLC Invests $1.03 Million in Chevron Co. (CVX)

Marathon Trading Investment Management LLC bought a new position in shares of Chevron Co. (NYSE:CVX) in the 3rd quarter, Holdings Channel reports. The fund bought 8,786 shares of the oil and gas company’s stock, valued at approximately $1,032,000. Chevron comprises approximately 0.1% of Marathon Trading Investment Management LLC’s investment portfolio, making the stock its 21st largest holding.

A number of other institutional investors have also recently added to or reduced their stakes in CVX. Korea Investment CORP boosted its stake in Chevron by 5.1% in the second quarter. Korea Investment CORP now owns 1,476,610 shares of the oil and gas company’s stock valued at $154,055,000 after acquiring an additional 72,173 shares during the last quarter. Numeric Investors LLC boosted its stake in Chevron by 158.4% in the second quarter. Numeric Investors LLC now owns 52,200 shares of the oil and gas company’s stock valued at $5,446,000 after acquiring an additional 32,000 shares during the last quarter. Palisade Asset Management LLC boosted its stake in Chevron by 20.5% in the second quarter. Palisade Asset Management LLC now owns 109,154 shares of the oil and gas company’s stock valued at $11,388,000 after acquiring an additional 18,541 shares during the last quarter. Meeder Asset Management Inc. boosted its stake in Chevron by 124.9% in the second quarter. Meeder Asset Management Inc. now owns 48,670 shares of the oil and gas company’s stock valued at $5,077,000 after acquiring an additional 27,034 shares during the last quarter. Finally, Toronto Dominion Bank boosted its stake in Chevron by 24.7% in the second quarter. Toronto Dominion Bank now owns 660,443 shares of the oil and gas company’s stock valued at $68,894,000 after acquiring an additional 130,990 shares during the last quarter. Institutional investors and hedge funds own 63.80% of the company’s stock.

CVX has been the topic of a number of research analyst reports. TheStreet upgraded shares of Chevron from a “c+” rating to a “b” rating in a research note on Monday, October 23rd. Scotiabank reiterated a “buy” rating on shares of Chevron in a research note on Friday, September 15th. Goldman Sachs Group reiterated a “buy” rating and issued a $123.00 target price (up from $118.00) on shares of Chevron in a research note on Tuesday, September 19th. Cowen restated a “buy” rating and set a $122.00 price target on shares of Chevron in a research note on Tuesday, September 19th. Finally, Jefferies Group restated a “buy” rating and set a $130.00 price target on shares of Chevron in a research note on Tuesday, October 3rd. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and fifteen have given a buy rating to the stock. Chevron presently has an average rating of “Hold” and a consensus target price of $125.15.

In related news, insider Pierre R. Breber sold 23,250 shares of the company’s stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $119.00, for a total transaction of $2,766,750.00. Following the sale, the insider now owns 42,182 shares of the company’s stock, valued at approximately $5,019,658. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP R. Hewitt Pate sold 25,500 shares of the company’s stock in a transaction that occurred on Monday, October 16th. The stock was sold at an average price of $120.00, for a total transaction of $3,060,000.00. Following the sale, the vice president now directly owns 25,500 shares in the company, valued at approximately $3,060,000. The disclosure for this sale can be found here. Insiders have sold a total of 314,000 shares of company stock worth $36,540,822 in the last ninety days. 0.38% of the stock is currently owned by insiders.

Shares of Chevron Co. (NYSE CVX) opened at $128.66 on Thursday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.84 and a current ratio of 1.04. The firm has a market cap of $244,370.00, a P/E ratio of 37.51, a P/E/G ratio of 2.97 and a beta of 1.21. Chevron Co. has a twelve month low of $102.55 and a twelve month high of $128.94.

Chevron (NYSE:CVX) last posted its earnings results on Friday, October 27th. The oil and gas company reported $1.03 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.99 by $0.04. The business had revenue of $36.21 billion for the quarter, compared to analyst estimates of $34.06 billion. Chevron had a net margin of 4.79% and a return on equity of 4.59%. Chevron’s revenue was up 20.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.68 EPS. analysts forecast that Chevron Co. will post 4.35 earnings per share for the current fiscal year.

COPYRIGHT VIOLATION NOTICE: This piece was originally published by Markets Daily and is the property of of Markets Daily. If you are reading this piece on another publication, it was copied illegally and republished in violation of U.S. & international copyright & trademark laws. The correct version of this piece can be viewed at https://www.themarketsdaily.com/2018/01/11/marathon-trading-investment-management-llc-invests-1-03-million-in-chevron-co-cvx.html.

Chevron Company Profile

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.

Want to see what other hedge funds are holding CVX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Chevron Co. (NYSE:CVX).

Institutional Ownership by Quarter for Chevron (NYSE:CVX)

Receive News & Ratings for Chevron Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chevron and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply