Chevron Co. (CVX) Shares Bought by Gabelli Funds LLC
Gabelli Funds LLC raised its holdings in shares of Chevron Co. (NYSE:CVX) by 6.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 632,000 shares of the oil and gas company’s stock after acquiring an additional 36,200 shares during the quarter. Gabelli Funds LLC’s holdings in Chevron were worth $74,260,000 at the end of the most recent quarter.
A number of other large investors have also added to or reduced their stakes in the business. Harbour Capital Advisors LLC grew its stake in shares of Chevron by 10,213.3% in the 2nd quarter. Harbour Capital Advisors LLC now owns 5,709,042 shares of the oil and gas company’s stock valued at $54,721,000 after buying an additional 5,653,686 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Chevron by 2.9% in the 2nd 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 buying an additional 3,920,240 shares in the last quarter. Capital World Investors lifted its holdings in Chevron by 9.8% in the 2nd quarter. Capital World Investors now owns 35,546,848 shares of the oil and gas company’s stock worth $3,708,603,000 after purchasing an additional 3,182,250 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in Chevron by 669.9% in the 2nd quarter. Janus Henderson Group PLC now owns 3,230,554 shares of the oil and gas company’s stock worth $337,050,000 after purchasing an additional 2,810,928 shares during the last quarter. Finally, BlackRock Inc. lifted its holdings in Chevron by 1.6% in the 2nd quarter. BlackRock Inc. now owns 124,678,992 shares of the oil and gas company’s stock worth $13,007,759,000 after purchasing an additional 1,975,865 shares during the last quarter. 63.80% of the stock is currently owned by institutional investors.
Several research firms recently weighed in on CVX. Vetr lowered Chevron from a “buy” rating to a “hold” rating and set a $134.35 target price for the company. in a report on Thursday. BMO Capital Markets upgraded Chevron from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $120.00 to $140.00 in a report on Thursday. Bank of America lowered Chevron from a “buy” rating to a “neutral” rating and set a $125.00 target price for the company. in a report on Thursday, January 4th. They noted that the move was a valuation call. Zacks Investment Research upgraded Chevron from a “hold” rating to a “buy” rating and set a $140.00 target price for the company in a report on Wednesday, December 27th. Finally, Scotiabank restated a “buy” rating and issued a $130.00 target price on shares of Chevron in a report on Friday, December 22nd. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and fifteen have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $126.06.
Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, October 27th. The oil and gas company reported $1.03 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.04. Chevron had a return on equity of 4.59% and a net margin of 4.79%. The company had revenue of $36.21 billion during the quarter, compared to analyst estimates of $34.06 billion. During the same period in the previous year, the company earned $0.68 earnings per share. The company’s quarterly revenue was up 20.1% compared to the same quarter last year. equities research analysts anticipate that Chevron Co. will post 4.35 EPS for the current year.
In other news, insider Pierre R. Breber sold 23,250 shares of the company’s stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $119.00, for a total transaction of $2,766,750.00. Following the completion of the transaction, the insider now directly owns 42,182 shares in the company, valued at $5,019,658. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP R. Hewitt Pate sold 25,500 shares of the company’s stock in a transaction that occurred on Monday, October 16th. The stock was sold at an average price of $120.00, for a total value of $3,060,000.00. Following the transaction, the vice president now owns 25,500 shares of the company’s stock, valued at $3,060,000. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 314,000 shares of company stock valued at $36,540,822. Corporate insiders own 0.38% of the company’s stock.
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.
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