Covington Investment Advisors Inc. cut its holdings in Chevron Co. (NYSE:CVX) by 1.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 55,400 shares of the oil and gas company’s stock after selling 813 shares during the period. Chevron makes up 2.5% of Covington Investment Advisors Inc.’s investment portfolio, making the stock its 4th biggest holding. Covington Investment Advisors Inc.’s holdings in Chevron were worth $6,510,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. Harbour Capital Advisors LLC boosted its holdings in Chevron by 10,213.3% during the second 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 acquiring an additional 5,653,686 shares during the period. Vanguard Group Inc. boosted its holdings 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 acquiring an additional 3,920,240 shares during the period. Capital World Investors boosted its holdings 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 acquiring an additional 3,182,250 shares during the period. Janus Henderson Group PLC boosted its holdings 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 acquiring an additional 2,810,928 shares during the period. Finally, BlackRock Inc. boosted its holdings 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 acquiring an additional 1,975,865 shares during the period. Hedge funds and other institutional investors own 63.84% of the company’s stock.

In related news, insider Pierre R. Breber sold 23,250 shares of the stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $119.00, for a total value of $2,766,750.00. Following the completion of the transaction, the insider now owns 42,182 shares of the company’s stock, valued at $5,019,658. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Vice Chairman Michael K. Wirth sold 1,229 shares of the stock in a transaction dated Tuesday, November 7th. The stock was sold at an average price of $118.00, for a total transaction of $145,022.00. Following the completion of the transaction, the insider now directly owns 1,229 shares of the company’s stock, valued at approximately $145,022. The disclosure for this sale can be found here. Insiders sold 288,500 shares of company stock valued at $33,480,822 in the last three months. Company insiders own 0.38% of the company’s stock.

Chevron Co. (CVX) opened at $132.01 on Wednesday. The company has a market cap of $253,756.36, a PE ratio of 38.49, a PEG ratio of 2.95 and a beta of 1.21. The company has a current ratio of 1.04, a quick ratio of 0.84 and a debt-to-equity ratio of 0.23. Chevron Co. has a 52-week low of $102.55 and a 52-week high of $133.88.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, October 27th. The oil and gas company reported $1.03 EPS for the quarter, beating the Zacks’ consensus estimate of $0.99 by $0.04. Chevron had a net margin of 4.79% and a return on equity of 4.59%. The business had revenue of $36.21 billion during the quarter, compared to analyst estimates of $34.06 billion. During the same quarter in the prior year, the business earned $0.68 earnings per share. The firm’s revenue for the quarter was up 20.1% on a year-over-year basis. sell-side analysts forecast that Chevron Co. will post 4.35 EPS for the current fiscal year.

CVX has been the subject of a number of recent analyst reports. Cowen restated a “buy” rating and set a $122.00 price target on shares of Chevron in a report on Tuesday, September 19th. Goldman Sachs Group restated a “buy” rating and set a $123.00 price target (up from $118.00) on shares of Chevron in a report on Tuesday, September 19th. Wells Fargo & Co restated a “market perform” rating and set a $108.00 price target (up from $100.00) on shares of Chevron in a report on Tuesday, October 3rd. Bank of America restated a “buy” rating and set a $125.00 price target (up from $120.00) on shares of Chevron in a report on Tuesday, October 3rd. Finally, Jefferies Group restated a “buy” rating and set a $130.00 price target on shares of Chevron in a report on Tuesday, October 3rd. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $126.06.

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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.

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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