Bright Rock Capital Management LLC Has $7.29 Million Position in Chevron Co. (CVX)

Bright Rock Capital Management LLC cut its holdings in shares of Chevron Co. (NYSE:CVX) by 6.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 67,000 shares of the oil and gas company’s stock after selling 5,000 shares during the quarter. Chevron makes up 2.7% of Bright Rock Capital Management LLC’s portfolio, making the stock its 6th largest position. Bright Rock Capital Management LLC’s holdings in Chevron were worth $7,289,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. increased its position in Chevron by 1.3% in the 3rd quarter. Vanguard Group Inc. now owns 149,871,580 shares of the oil and gas company’s stock valued at $18,326,297,000 after acquiring an additional 1,897,503 shares during the period. Vanguard Group Inc increased its position in shares of Chevron by 1.3% during the third quarter. Vanguard Group Inc now owns 149,871,580 shares of the oil and gas company’s stock worth $18,326,297,000 after buying an additional 1,897,503 shares during the period. Capital International Investors increased its position in shares of Chevron by 157.4% during the third quarter. Capital International Investors now owns 23,757,783 shares of the oil and gas company’s stock worth $2,905,102,000 after buying an additional 14,528,219 shares during the period. Morgan Stanley increased its position in shares of Chevron by 3.8% during the second quarter. Morgan Stanley now owns 16,986,164 shares of the oil and gas company’s stock worth $2,147,560,000 after buying an additional 626,514 shares during the period. Finally, Legal & General Group Plc increased its position in shares of Chevron by 2.0% during the third quarter. Legal & General Group Plc now owns 9,104,849 shares of the oil and gas company’s stock worth $1,113,352,000 after buying an additional 179,653 shares during the period. 66.07% of the stock is currently owned by hedge funds and other institutional investors.

In other Chevron news, insider James William Johnson sold 4,750 shares of Chevron stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $124.84, for a total transaction of $592,990.00. Following the completion of the sale, the insider now directly owns 4,750 shares in the company, valued at $592,990. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Jeanette L. Ourada sold 7,200 shares of Chevron stock in a transaction that occurred on Monday, February 4th. The shares were sold at an average price of $116.50, for a total transaction of $838,800.00. Following the sale, the insider now owns 7,200 shares of the company’s stock, valued at $838,800. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 16,700 shares of company stock valued at $2,028,390. 0.46% of the stock is owned by corporate insiders.

Several research firms have recently weighed in on CVX. Zacks Investment Research upgraded shares of Chevron from a “strong sell” rating to a “hold” rating in a research report on Tuesday, January 29th. Cowen reiterated a “buy” rating and set a $142.00 price objective on shares of Chevron in a research report on Wednesday. Royal Bank of Canada reiterated a “hold” rating and set a $130.00 price objective on shares of Chevron in a research report on Monday, January 7th. Morgan Stanley started coverage on shares of Chevron in a research report on Monday, April 1st. They set an “overweight” rating and a $146.00 price objective for the company. Finally, Citigroup raised their price target on shares of Chevron from $135.00 to $142.00 and gave the stock a “buy” rating in a report on Monday, April 15th. Seven equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. Chevron has a consensus rating of “Buy” and a consensus target price of $136.30.

CVX stock traded down $0.41 during mid-day trading on Friday, hitting $119.86. The company had a trading volume of 9,546,462 shares, compared to its average volume of 7,791,694. The firm has a market cap of $228.30 billion, a price-to-earnings ratio of 14.53, a P/E/G ratio of 3.48 and a beta of 1.03. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.04 and a current ratio of 1.25. Chevron Co. has a 12 month low of $100.22 and a 12 month high of $131.08.

Chevron (NYSE:CVX) last posted its earnings results on Friday, February 1st. The oil and gas company reported $1.95 earnings per share for the quarter, topping the consensus estimate of $1.87 by $0.08. The firm had revenue of $42.35 billion during the quarter, compared to the consensus estimate of $41.46 billion. Chevron had a net margin of 8.91% and a return on equity of 9.78%. The company’s revenue was up 12.6% on a year-over-year basis. During the same quarter last year, the company earned $1.64 earnings per share. Analysts forecast that Chevron Co. will post 6.75 earnings per share for the current year.

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Chevron Company 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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