PGGM Investments Reduces Stock Position in Chevron Co. (NYSE:CVX)

PGGM Investments reduced its holdings in shares of Chevron Co. (NYSE:CVX) by 43.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 769,075 shares of the oil and gas company’s stock after selling 580,109 shares during the quarter. PGGM Investments’ holdings in Chevron were worth $92,681,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in CVX. Bell & Brown Wealth Advisors LLC lifted its stake in Chevron by 1.1% in the 4th quarter. Bell & Brown Wealth Advisors LLC now owns 17,499 shares of the oil and gas company’s stock worth $2,027,000 after purchasing an additional 186 shares in the last quarter. Price Wealth LLC lifted its stake in Chevron by 105.8% in the 4th quarter. Price Wealth LLC now owns 284 shares of the oil and gas company’s stock worth $34,000 after purchasing an additional 146 shares in the last quarter. Wedbush Securities Inc. lifted its stake in Chevron by 0.8% in the 4th quarter. Wedbush Securities Inc. now owns 73,782 shares of the oil and gas company’s stock worth $8,891,000 after purchasing an additional 556 shares in the last quarter. Merit Financial Group LLC purchased a new stake in Chevron in the 4th quarter worth approximately $1,104,000. Finally, Fenimore Asset Management Inc. purchased a new stake in Chevron in the 4th quarter worth approximately $203,000. Institutional investors own 65.47% of the company’s stock.

Several analysts have issued reports on CVX shares. Piper Jaffray Companies started coverage on shares of Chevron in a research note on Tuesday, November 26th. They issued a “buy” rating and a $143.00 target price on the stock. Bank of America cut shares of Chevron from a “neutral” rating to an “underperform” rating in a research note on Tuesday, January 7th. ValuEngine upgraded shares of Chevron from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Berenberg Bank reiterated a “hold” rating and issued a $128.00 target price on shares of Chevron in a research note on Thursday, December 12th. Finally, Citigroup cut shares of Chevron from a “buy” rating to a “neutral” rating in a research report on Monday, December 9th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have given a buy rating to the company’s stock. Chevron currently has a consensus rating of “Buy” and a consensus price target of $137.26.

In other Chevron news, insider David A. Inchausti sold 15,000 shares of the firm’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $119.89, for a total value of $1,798,350.00. Following the sale, the insider now owns 15,000 shares of the company’s stock, valued at approximately $1,798,350. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Michael K. Wirth sold 67,500 shares of the firm’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $121.07, for a total transaction of $8,172,225.00. Following the completion of the sale, the chief executive officer now directly owns 33,750 shares in the company, valued at approximately $4,086,112.50. The disclosure for this sale can be found here. In the last three months, insiders sold 90,300 shares of company stock worth $10,904,079. Insiders own 0.31% of the company’s stock.

Shares of CVX stock traded down $1.02 on Friday, hitting $115.87. 2,097,679 shares of the company’s stock traded hands, compared to its average volume of 7,027,794. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.93 and a current ratio of 1.12. Chevron Co. has a one year low of $110.17 and a one year high of $127.34. The company’s fifty day simple moving average is $118.50 and its 200 day simple moving average is $119.52. The stock has a market capitalization of $219.91 billion, a price-to-earnings ratio of 14.04, a P/E/G ratio of 4.83 and a beta of 1.02.

Chevron (NYSE:CVX) last released its earnings results on Friday, November 1st. The oil and gas company reported $1.36 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.47 by ($0.11). Chevron had a net margin of 8.70% and a return on equity of 8.89%. The business had revenue of $36.12 billion for the quarter, compared to the consensus estimate of $37.69 billion. During the same period in the prior year, the business posted $2.11 EPS. Chevron’s revenue for the quarter was down 17.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Chevron Co. will post 6.28 earnings per share for the current fiscal year.

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.

Read More: What are the qualifications of a portfolio manager?

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.