Chevron Corporation (CVX) Shares Sold by Bessemer Group Inc.
Bessemer Group Inc. trimmed its holdings in Chevron Corporation (NYSE:CVX) by 1.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 497,820 shares of the oil and gas company’s stock after selling 8,011 shares during the period. Bessemer Group Inc.’s holdings in Chevron Corporation were worth $51,936,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also made changes to their positions in the company. Harbour Capital Advisors LLC increased its holdings in shares of Chevron Corporation 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 purchasing an additional 5,653,686 shares during the last quarter. State Street Corp increased its holdings in shares of Chevron Corporation by 1.1% in the first quarter. State Street Corp now owns 118,769,549 shares of the oil and gas company’s stock worth $12,752,287,000 after purchasing an additional 1,261,078 shares during the last quarter. Karp Capital Management Corp bought a new stake in shares of Chevron Corporation in the first quarter worth about $77,388,000. Thomaspartners Inc. increased its holdings in shares of Chevron Corporation by 30.5% in the first quarter. Thomaspartners Inc. now owns 2,815,231 shares of the oil and gas company’s stock worth $302,271,000 after purchasing an additional 657,826 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. bought a new stake in shares of Chevron Corporation in the first quarter worth about $37,785,000. Institutional investors and hedge funds own 62.72% of the company’s stock.
Several brokerages have recently issued reports on CVX. Wells Fargo & Company reaffirmed a “market perform” rating on shares of Chevron Corporation in a report on Thursday. They noted that the move was a valuation call. Jefferies Group LLC reaffirmed a “buy” rating and issued a $137.00 target price on shares of Chevron Corporation in a report on Thursday. Morgan Stanley lifted their target price on Chevron Corporation from $120.00 to $130.00 and gave the stock an “overweight” rating in a report on Wednesday. Societe Generale cut Chevron Corporation from a “buy” rating to a “hold” rating and lifted their target price for the stock from $120.00 to $130.00 in a report on Wednesday. Finally, BMO Capital Markets cut Chevron Corporation from an “outperform” rating to a “market perform” rating and set a $120.00 target price on the stock. in a report on Wednesday. They noted that the move was a valuation call. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and sixteen have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $119.66.
In related news, insider James William Johnson sold 31,000 shares of Chevron Corporation stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $110.68, for a total value of $3,431,080.00. Following the completion of the sale, the insider now owns 11,000 shares in the company, valued at approximately $1,217,480. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP R. Hewitt Pate sold 25,500 shares of Chevron Corporation stock in a transaction that occurred on Monday, October 16th. The shares were sold at an average price of $120.00, for a total transaction of $3,060,000.00. Following the completion of the sale, the vice president now owns 25,500 shares of the company’s stock, valued at approximately $3,060,000. The disclosure for this sale can be found here. Insiders have sold a total of 97,812 shares of company stock valued at $11,068,343 in the last 90 days. Insiders own 0.38% of the company’s stock.
Chevron Corporation (CVX) opened at 118.20 on Friday. The firm’s 50 day moving average price is $115.93 and its 200 day moving average price is $108.64. Chevron Corporation has a 12 month low of $99.87 and a 12 month high of $120.00. The stock has a market cap of $223.99 billion, a price-to-earnings ratio of 38.33 and a beta of 1.24.
Chevron Corporation (NYSE:CVX) last announced its quarterly earnings results on Friday, July 28th. The oil and gas company reported $0.91 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.89 by $0.02. The business had revenue of $34.48 billion during the quarter, compared to the consensus estimate of $32.77 billion. Chevron Corporation had a net margin of 4.50% and a return on equity of 4.13%. The business’s revenue was up 17.8% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.78) EPS. On average, equities research analysts predict that Chevron Corporation will post $4.08 EPS for the current fiscal year.
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Chevron Corporation 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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