Chevron Co. (NYSE:CVX) Position Raised by Shell Asset Management Co.

Shell Asset Management Co. boosted its holdings in shares of Chevron Co. (NYSE:CVX) by 41.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 506,198 shares of the oil and gas company’s stock after acquiring an additional 147,738 shares during the period. Chevron accounts for about 1.0% of Shell Asset Management Co.’s investment portfolio, making the stock its 9th largest holding. Shell Asset Management Co.’s holdings in Chevron were worth $60,400,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of CVX. Harbour Capital Advisors LLC lifted its holdings in shares of Chevron by 10,213.3% in the second quarter. Harbour Capital Advisors LLC now owns 5,709,042 shares of the oil and gas company’s stock worth $54,721,000 after buying an additional 5,653,686 shares in the last quarter. Vanguard Group Inc. raised its stake in Chevron by 2.9% during the second quarter. Vanguard Group Inc. now owns 139,626,287 shares of the oil and gas company’s stock valued at $14,567,210,000 after purchasing an additional 3,920,240 shares in the last quarter. Capital World Investors raised its stake in Chevron by 9.8% during the second quarter. Capital World Investors now owns 35,546,848 shares of the oil and gas company’s stock valued at $3,708,603,000 after purchasing an additional 3,182,250 shares in the last quarter. Janus Henderson Group PLC raised its stake in Chevron by 669.9% during the second quarter. Janus Henderson Group PLC now owns 3,230,554 shares of the oil and gas company’s stock valued at $337,050,000 after purchasing an additional 2,810,928 shares in the last quarter. Finally, BlackRock Inc. raised its stake in Chevron by 1.6% during the second quarter. BlackRock Inc. now owns 124,678,992 shares of the oil and gas company’s stock valued at $13,007,759,000 after purchasing an additional 1,975,865 shares in the last quarter. 63.80% of the stock is owned by institutional investors.

CVX has been the topic of a number of recent research reports. Scotiabank reaffirmed a “buy” rating on shares of Chevron in a research note on Friday, September 15th. JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Chevron in a research report on Saturday, September 16th. Cowen reiterated a “buy” rating and set a $122.00 price objective on shares of Chevron in a research report on Tuesday, September 19th. Goldman Sachs Group restated a “buy” rating and issued a $123.00 price target (up from $118.00) on shares of Chevron in a report on Tuesday, September 19th. Finally, Wells Fargo & Co restated a “market perform” rating and issued a $108.00 price target (up from $100.00) on shares of Chevron in a report on Tuesday, October 3rd. Three investment 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. The company presently has an average rating of “Hold” and a consensus price target of $126.06.

Shares of Chevron Co. (CVX) traded up $3.91 during midday trading on Thursday, hitting $132.57. 10,881,200 shares of the stock were exchanged, compared to its average volume of 5,190,000. The firm has a market cap of $251,800.00, a PE ratio of 38.65, a price-to-earnings-growth 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 $133.32. The company has a quick ratio of 0.84, a current ratio of 1.04 and a debt-to-equity ratio of 0.23.

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

In related news, VP R. Hewitt Pate sold 25,500 shares of the business’s stock in a transaction dated Monday, October 16th. The shares were sold at an average price of $120.00, for a total value 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Patricia E. Yarrington sold 13,143 shares of the business’s stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $115.01, for a total transaction of $1,511,576.43. Following the completion of the sale, the chief financial officer now owns 17,981 shares in the company, valued at $2,067,994.81. The disclosure for this sale can be found here. Insiders sold a total of 314,000 shares of company stock worth $36,540,822 in the last 90 days. 0.38% of the stock is currently owned by insiders.

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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.

Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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