Whittier Trust Co. boosted its holdings in Chevron Co. (NYSE:CVX) by 4.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 297,392 shares of the oil and gas company’s stock after buying an additional 12,020 shares during the quarter. Chevron makes up about 1.0% of Whittier Trust Co.’s holdings, making the stock its 20th largest position. Whittier Trust Co.’s holdings in Chevron were worth $35,271,000 at the end of the most recent quarter.
A number of other large investors have also bought and sold shares of the stock. Stephens Inc. AR increased its holdings in Chevron by 1.6% in the third quarter. Stephens Inc. AR now owns 212,815 shares of the oil and gas company’s stock valued at $25,240,000 after buying an additional 3,451 shares during the last quarter. Coastline Trust Co lifted its position in Chevron by 2.3% in the third quarter. Coastline Trust Co now owns 25,192 shares of the oil and gas company’s stock valued at $2,988,000 after purchasing an additional 568 shares during the period. Whittier Trust Co. of Nevada Inc. lifted its position in Chevron by 1.2% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 129,834 shares of the oil and gas company’s stock valued at $15,399,000 after purchasing an additional 1,503 shares during the period. Farmers & Merchants Investments Inc. lifted its position in Chevron by 4.3% in the third quarter. Farmers & Merchants Investments Inc. now owns 94,185 shares of the oil and gas company’s stock valued at $11,170,000 after purchasing an additional 3,861 shares during the period. Finally, Kistler Tiffany Companies LLC increased its holdings in Chevron by 2.3% in the third quarter. Kistler Tiffany Companies LLC now owns 14,002 shares of the oil and gas company’s stock valued at $1,661,000 after buying an additional 309 shares in the last quarter. 65.62% of the stock is currently owned by hedge funds and other institutional investors.
In related news, EVP Joseph C. Geagea sold 5,000 shares of the stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $118.10, for a total transaction of $590,500.00. Following the completion of the sale, the executive vice president now directly owns 6,243 shares of the company’s stock, valued at $737,298.30. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Pierre R. Breber sold 15,000 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $124.97, for a total transaction of $1,874,550.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 86,750 shares of company stock valued at $10,648,200. Company insiders own 0.31% of the company’s stock.
Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.27 earnings per share for the quarter, topping analysts’ consensus estimates of $1.74 by $0.53. The company had revenue of $38.85 billion during the quarter, compared to analyst estimates of $40.14 billion. Chevron had a net margin of 9.18% and a return on equity of 9.58%. The business’s revenue for the quarter was down 8.0% compared to the same quarter last year. During the same period in the prior year, the business posted $1.78 EPS. Equities research analysts forecast that Chevron Co. will post 6.16 EPS for the current year.
CVX has been the subject of a number of recent research reports. Morgan Stanley dropped their price objective on shares of Chevron from $146.00 to $144.00 and set an “overweight” rating for the company in a research note on Friday, July 12th. BMO Capital Markets assumed coverage on shares of Chevron in a report on Tuesday, August 20th. They set an “outperform” rating and a $165.00 target price on the stock. Barclays assumed coverage on shares of Chevron in a report on Monday, August 19th. They set an “overweight” rating and a $145.00 target price on the stock. ValuEngine upgraded shares of Chevron from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, Cowen set a $140.00 target price on shares of Chevron and gave the company a “buy” rating in a report on Tuesday, October 15th. Five equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $137.47.
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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