FormulaFolio Investments LLC Increases Holdings in Chevron Co. (NYSE:CVX)

FormulaFolio Investments LLC lifted its position in shares of Chevron Co. (NYSE:CVX) by 12.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,115 shares of the oil and gas company’s stock after purchasing an additional 1,382 shares during the period. FormulaFolio Investments LLC’s holdings in Chevron were worth $1,424,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of CVX. New Capital Management LP lifted its holdings in Chevron by 0.3% in the first quarter. New Capital Management LP now owns 1,455 shares of the oil and gas company’s stock worth $156,000 after buying an additional 4 shares during the period. Valley National Advisers Inc. lifted its holdings in Chevron by 0.4% in the second quarter. Valley National Advisers Inc. now owns 2,612 shares of the oil and gas company’s stock worth $273,000 after buying an additional 11 shares during the period. Deschutes Portfolio Strategy LLC lifted its holdings in Chevron by 0.5% in the second quarter. Deschutes Portfolio Strategy LLC now owns 2,889 shares of the oil and gas company’s stock worth $301,000 after buying an additional 13 shares during the period. Regis Management CO LLC lifted its holdings in Chevron by 0.4% in the second quarter. Regis Management CO LLC now owns 3,269 shares of the oil and gas company’s stock worth $341,000 after buying an additional 14 shares during the period. Finally, Keel Point LLC lifted its holdings in Chevron by 0.5% in the second quarter. Keel Point LLC now owns 2,759 shares of the oil and gas company’s stock worth $288,000 after buying an additional 14 shares during the period. Institutional investors own 63.80% of the company’s stock.

Chevron Co. (NYSE:CVX) traded up $3.91 during trading hours on Thursday, reaching $132.57. 11,640,000 shares of the company’s stock were exchanged, compared to its average volume of 5,190,000. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.84 and a current ratio of 1.04. Chevron Co. has a fifty-two week low of $102.55 and a fifty-two week high of $133.32. The company has a market cap of $251,800.00, a P/E ratio of 38.65, a PEG ratio of 2.97 and a beta of 1.21.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, October 27th. The oil and gas company reported $1.03 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.99 by $0.04. The business had revenue of $36.21 billion for the quarter, compared to analysts’ expectations of $34.06 billion. Chevron had a net margin of 4.79% and a return on equity of 4.59%. The company’s revenue was up 20.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.68 EPS. equities analysts predict that Chevron Co. will post 4.35 earnings per share for the current year.

In other news, VP R. Hewitt Pate sold 25,500 shares of Chevron stock in a transaction on Monday, October 16th. The shares were sold at an average price of $120.00, for a total transaction of $3,060,000.00. Following the transaction, the vice president now owns 25,500 shares in the company, valued at approximately $3,060,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Vice Chairman Michael K. Wirth sold 1,229 shares of Chevron stock in a transaction on Tuesday, November 7th. The stock was sold at an average price of $118.00, for a total transaction of $145,022.00. Following the transaction, the insider now owns 1,229 shares in the company, valued at approximately $145,022. 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 quarter. Corporate insiders own 0.38% of the company’s stock.

Several analysts have commented on CVX shares. Morgan Stanley raised their price objective on shares of Chevron from $120.00 to $130.00 and gave the stock an “overweight” rating in a report on Wednesday, October 18th. Royal Bank of Canada set a $110.00 target price on shares of Chevron and gave the company a “sell” rating in a research note on Wednesday, December 20th. Barclays raised their target price on shares of Chevron from $120.00 to $130.00 and gave the company an “overweight” rating in a research note on Tuesday, October 10th. Scotiabank reaffirmed a “buy” rating on shares of Chevron in a research note on Friday, September 15th. Finally, Jefferies Group reaffirmed a “buy” rating and set a $130.00 target price on shares of Chevron in a research note on Tuesday, October 3rd. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $126.06.

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Chevron 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.

Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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