Sawyer & Company Inc cut its holdings in shares of Chevron Co. (NYSE:CVX) by 3.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,045 shares of the oil and gas company’s stock after selling 320 shares during the period. Sawyer & Company Inc’s holdings in Chevron were worth $1,126,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of the company. Fisher Asset Management LLC increased its position in shares of Chevron by 3.1% in the 4th quarter. Fisher Asset Management LLC now owns 4,755,742 shares of the oil and gas company’s stock valued at $517,377,000 after acquiring an additional 143,056 shares during the period. Rhumbline Advisers increased its position in shares of Chevron by 1.1% in the 4th quarter. Rhumbline Advisers now owns 3,439,855 shares of the oil and gas company’s stock valued at $374,222,000 after acquiring an additional 36,737 shares during the period. Thoroughbred Financial Services LLC increased its position in shares of Chevron by 12,204.4% in the 2nd quarter. Thoroughbred Financial Services LLC now owns 3,259,805 shares of the oil and gas company’s stock valued at $325,980,000 after acquiring an additional 3,233,312 shares during the period. Nordea Investment Management AB increased its position in shares of Chevron by 298.6% in the 4th quarter. Nordea Investment Management AB now owns 1,695,198 shares of the oil and gas company’s stock valued at $184,416,000 after acquiring an additional 1,269,889 shares during the period. Finally, TD Asset Management Inc. increased its position in shares of Chevron by 8.2% in the 4th quarter. TD Asset Management Inc. now owns 1,626,358 shares of the oil and gas company’s stock valued at $176,931,000 after acquiring an additional 123,779 shares during the period. 65.55% of the stock is currently owned by institutional investors and hedge funds.
In other Chevron news, Chairman Michael K. Wirth sold 33,750 shares of the company’s stock in a transaction on Friday, June 21st. The shares were sold at an average price of $125.60, for a total value of $4,239,000.00. Following the sale, the chairman now directly owns 33,750 shares of the company’s stock, valued at $4,239,000. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Enrique Hernandez, Jr. sold 2,100 shares of the company’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $121.75, for a total transaction of $255,675.00. Following the completion of the sale, the director now directly owns 15,689 shares in the company, valued at $1,910,135.75. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 40,050 shares of company stock worth $5,007,621. 0.31% of the stock is owned by corporate insiders.
Several equities analysts recently issued reports on the company. Citigroup assumed coverage on Chevron in a research report on Monday, May 13th. They issued a “buy” rating and a $135.00 target price on the stock. Morgan Stanley cut their target price on Chevron from $146.00 to $144.00 and set an “overweight” rating on the stock in a research report on Friday, July 12th. Zacks Investment Research downgraded Chevron from a “buy” rating to a “hold” rating in a research report on Tuesday, May 7th. Bank of America raised Chevron from a “neutral” rating to a “buy” rating and set a $140.00 target price on the stock in a research report on Friday, April 12th. Finally, Cowen reissued a “buy” rating and issued a $142.00 target price on shares of Chevron in a research report on Wednesday, April 17th. Six equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $135.41.
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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