Schwab Charitable Fund Decreases Stock Holdings in Chevron Co. (NYSE:CVX)
Schwab Charitable Fund decreased its holdings in shares of Chevron Co. (NYSE:CVX) by 4.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,430 shares of the oil and gas company’s stock after selling 100 shares during the period. Schwab Charitable Fund’s holdings in Chevron were worth $293,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors also recently added to or reduced their stakes in CVX. Transamerica Financial Advisors Inc. purchased a new stake in shares of Chevron during the second quarter worth $46,000. Quantum Capital Management acquired a new stake in shares of Chevron in the third quarter valued at about $51,000. Lenox Wealth Advisors LLC raised its position in shares of Chevron by 54.6% in the fourth quarter. Lenox Wealth Advisors LLC now owns 433 shares of the oil and gas company’s stock valued at $52,000 after buying an additional 153 shares during the last quarter. Vista Private Wealth Partners. LLC purchased a new position in shares of Chevron in the third quarter worth about $56,000. Finally, Cordasco Financial Network lifted its stake in shares of Chevron by 38.5% in the third quarter. Cordasco Financial Network now owns 525 shares of the oil and gas company’s stock worth $62,000 after buying an additional 146 shares in the last quarter. 65.47% of the stock is currently owned by hedge funds and other institutional investors.
In related news, insider David A. Inchausti sold 15,000 shares of the firm’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $119.89, for a total transaction of $1,798,350.00. Following the completion of the sale, the insider now directly owns 15,000 shares of the company’s stock, valued at approximately $1,798,350. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Rhonda J. Morris sold 7,800 shares of the business’s stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $119.68, for a total transaction of $933,504.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 90,300 shares of company stock worth $10,904,079. Corporate insiders own 0.31% of the company’s stock.
Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, November 1st. The oil and gas company reported $1.36 earnings per share for the quarter, missing the consensus estimate of $1.47 by ($0.11). The firm had revenue of $36.12 billion during the quarter, compared to analysts’ expectations of $37.69 billion. Chevron had a net margin of 8.70% and a return on equity of 8.89%. The business’s quarterly revenue was down 17.9% on a year-over-year basis. During the same period last year, the company earned $2.11 EPS. Sell-side analysts forecast that Chevron Co. will post 6.28 EPS for the current year.
Several analysts recently issued reports on the stock. Berenberg Bank reaffirmed a “hold” rating and set a $128.00 price objective on shares of Chevron in a research note on Thursday, December 12th. Citigroup lowered shares of Chevron from a “buy” rating to a “neutral” rating in a research note on Monday, December 9th. ValuEngine raised shares of Chevron from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Bank of America cut Chevron from a “neutral” rating to an “underperform” rating in a report on Tuesday, January 7th. Finally, Piper Jaffray Companies initiated coverage on Chevron in a research report on Tuesday, November 26th. They issued a “buy” rating and a $143.00 price target for the company. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and nine have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $137.26.
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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