Chevron Co. (NYSE:CVX) Shares Sold by DAVENPORT & Co LLC

DAVENPORT & Co LLC reduced its position in shares of Chevron Co. (NYSE:CVX) by 35.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 597,232 shares of the oil and gas company’s stock after selling 335,136 shares during the period. DAVENPORT & Co LLC’s holdings in Chevron were worth $43,001,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Winslow Evans & Crocker Inc. boosted its stake in shares of Chevron by 2.3% during the 2nd quarter. Winslow Evans & Crocker Inc. now owns 29,423 shares of the oil and gas company’s stock worth $2,625,000 after purchasing an additional 653 shares during the last quarter. Horizon Investments LLC boosted its stake in shares of Chevron by 105.2% during the 2nd quarter. Horizon Investments LLC now owns 53,029 shares of the oil and gas company’s stock worth $4,732,000 after purchasing an additional 27,185 shares during the last quarter. Braun Stacey Associates Inc. boosted its stake in shares of Chevron by 11.3% during the 2nd quarter. Braun Stacey Associates Inc. now owns 146,455 shares of the oil and gas company’s stock worth $13,068,000 after purchasing an additional 14,915 shares during the last quarter. Cornerstone Wealth Management LLC boosted its stake in shares of Chevron by 4.0% during the 3rd quarter. Cornerstone Wealth Management LLC now owns 17,864 shares of the oil and gas company’s stock worth $1,286,000 after purchasing an additional 686 shares during the last quarter. Finally, Rampart Investment Management Company LLC boosted its stake in shares of Chevron by 11.8% during the 2nd quarter. Rampart Investment Management Company LLC now owns 15,901 shares of the oil and gas company’s stock worth $1,419,000 after purchasing an additional 1,680 shares during the last quarter. 64.01% of the stock is currently owned by institutional investors.

Several brokerages have recently weighed in on CVX. Scotiabank lowered shares of Chevron from a “sector outperform” rating to a “sector perform” rating and set a $95.00 price objective on the stock. in a report on Wednesday, September 23rd. HSBC cut their price objective on shares of Chevron from $93.00 to $86.00 and set a “hold” rating on the stock in a report on Wednesday. Bank of America upgraded shares of Chevron from a “neutral” rating to a “buy” rating and set a $96.00 price objective on the stock in a report on Monday, September 28th. Zacks Investment Research upgraded shares of Chevron from a “hold” rating to a “strong-buy” rating and set a $105.00 price objective on the stock in a report on Wednesday, July 22nd. Finally, Scotia Howard Weill lowered shares of Chevron from a “buy” rating to a “sector perform” rating and set a $121.00 price objective on the stock. in a report on Thursday, September 24th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $107.27.

CVX stock opened at $72.89 on Friday. Chevron Co. has a twelve month low of $51.60 and a twelve month high of $122.94. The company has a current ratio of 1.14, a quick ratio of 0.87 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $136.11 billion, a P/E ratio of -15.64, a PEG ratio of 2,483.67 and a beta of 1.26. The firm has a 50 day simple moving average of $76.82 and a 200-day simple moving average of $85.44.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, July 31st. The oil and gas company reported ($1.59) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.93) by ($0.66). Chevron had a positive return on equity of 3.61% and a negative net margin of 7.41%. The company had revenue of $13.95 billion for the quarter, compared to analyst estimates of $21.71 billion. During the same period in the previous year, the business posted $1.77 EPS. The firm’s quarterly revenue was down 64.1% compared to the same quarter last year. On average, research analysts predict that Chevron Co. will post 0.01 EPS for the current year.

In other Chevron news, insider David A. Inchausti sold 5,750 shares of Chevron stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $92.00, for a total value of $529,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.28% of the company’s stock.

Chevron 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.

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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