Chevron Co. (NYSE:CVX) Position Cut by Clarus Wealth Advisors

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Clarus Wealth Advisors trimmed its stake in Chevron Co. (NYSE:CVX) by 22.5% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 9,373 shares of the oil and gas company’s stock after selling 2,723 shares during the quarter. Chevron makes up about 0.8% of Clarus Wealth Advisors’ investment portfolio, making the stock its 21st largest holding. Clarus Wealth Advisors’ holdings in Chevron were worth $1,112,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in shares of Chevron by 1.0% during the second quarter. Vanguard Group Inc. now owns 157,513,617 shares of the oil and gas company’s stock valued at $19,600,995,000 after purchasing an additional 1,572,940 shares during the period. BlackRock Inc. increased its holdings in shares of Chevron by 3.5% during the second quarter. BlackRock Inc. now owns 131,522,440 shares of the oil and gas company’s stock valued at $16,366,651,000 after purchasing an additional 4,401,622 shares during the period. Northern Trust Corp increased its holdings in shares of Chevron by 2.8% during the second quarter. Northern Trust Corp now owns 28,068,068 shares of the oil and gas company’s stock valued at $3,492,791,000 after purchasing an additional 769,941 shares during the period. Morgan Stanley increased its holdings in shares of Chevron by 7.9% during the second quarter. Morgan Stanley now owns 16,262,708 shares of the oil and gas company’s stock valued at $2,023,732,000 after purchasing an additional 1,184,133 shares during the period. Finally, Nuveen Asset Management LLC increased its holdings in shares of Chevron by 2,073.6% during the second quarter. Nuveen Asset Management LLC now owns 14,886,232 shares of the oil and gas company’s stock valued at $1,852,443,000 after purchasing an additional 14,201,379 shares during the period. Institutional investors own 65.61% of the company’s stock.

A number of brokerages have recently commented on CVX. Independent Research set a $127.00 price target on Chevron and gave the company a “neutral” rating in a report on Thursday, August 29th. Morgan Stanley lowered their price target on Chevron from $146.00 to $144.00 and set an “overweight” rating on the stock in a report on Friday, July 12th. BMO Capital Markets began coverage on Chevron in a report on Tuesday, August 20th. They set an “outperform” rating and a $165.00 price target on the stock. ValuEngine raised Chevron from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, Barclays began coverage on Chevron in a report on Monday, August 19th. They set an “overweight” rating and a $145.00 price target on the stock. Five research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Chevron currently has a consensus rating of “Buy” and an average target price of $137.47.

In related news, CFO Pierre R. Breber sold 15,000 shares of Chevron stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $124.97, for a total value of $1,874,550.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Michael K. Wirth sold 33,750 shares of Chevron stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $125.00, for a total value of $4,218,750.00. Following the completion of the transaction, the chief executive officer now directly owns 33,750 shares in the company, valued at approximately $4,218,750. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 86,750 shares of company stock worth $10,648,200. 0.31% of the stock is owned by corporate insiders.

NYSE:CVX opened at $116.15 on Friday. The business’s 50-day moving average price is $118.45 and its 200 day moving average price is $120.74. The firm has a market cap of $214.79 billion, a P/E ratio of 14.45, a PEG ratio of 4.19 and a beta of 0.99. Chevron Co. has a 52-week low of $100.22 and a 52-week high of $127.34. The company has a quick ratio of 0.91, a current ratio of 1.15 and a debt-to-equity ratio of 0.16.

Chevron (NYSE:CVX) last released its earnings results on Friday, August 2nd. The oil and gas company reported $2.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.74 by $0.53. The firm had revenue of $38.85 billion for the quarter, compared to analyst estimates of $40.14 billion. Chevron had a return on equity of 9.58% and a net margin of 9.18%. Chevron’s revenue was down 8.0% compared to the same quarter last year. During the same period in the previous year, the company earned $1.78 earnings per share. Sell-side analysts expect that Chevron Co. will post 6.75 EPS for the current 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.

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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