Venturi Wealth Management LLC Sells 3,000 Shares of Chevron Co. (NYSE:CVX)

Venturi Wealth Management LLC cut its holdings in Chevron Co. (NYSE:CVX) by 12.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 20,264 shares of the oil and gas company’s stock after selling 3,000 shares during the period. Venturi Wealth Management LLC’s holdings in Chevron were worth $2,056,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Amundi purchased a new position in Chevron in the 2nd quarter worth $804,280,000. Vanguard Group Inc. grew its holdings in Chevron by 3.5% in the 2nd quarter. Vanguard Group Inc. now owns 161,501,973 shares of the oil and gas company’s stock worth $16,915,716,000 after acquiring an additional 5,427,422 shares during the last quarter. BlackRock Inc. grew its holdings in Chevron by 3.3% in the 2nd quarter. BlackRock Inc. now owns 136,355,706 shares of the oil and gas company’s stock worth $14,281,898,000 after acquiring an additional 4,339,477 shares during the last quarter. Liberty Wealth Management LLC grew its holdings in Chevron by 10,559.1% in the 2nd quarter. Liberty Wealth Management LLC now owns 3,513,656 shares of the oil and gas company’s stock worth $33,546,000 after acquiring an additional 3,480,692 shares during the last quarter. Finally, State Street Corp grew its holdings in Chevron by 1.3% in the 2nd quarter. State Street Corp now owns 139,640,367 shares of the oil and gas company’s stock worth $14,625,932,000 after acquiring an additional 1,844,030 shares during the last quarter. 64.98% of the stock is owned by institutional investors.

In related news, insider David A. Inchausti sold 5,600 shares of Chevron stock in a transaction dated Wednesday, October 20th. The stock was sold at an average price of $112.01, for a total transaction of $627,256.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP James William Johnson sold 78,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 20th. The stock was sold at an average price of $113.13, for a total value of $8,824,140.00. The disclosure for this sale can be found here. Insiders have sold a total of 475,801 shares of company stock worth $55,502,677 in the last ninety days. 0.28% of the stock is currently owned by company insiders.

A number of brokerages have issued reports on CVX. Royal Bank of Canada raised shares of Chevron from a “sector perform” rating to an “outperform” rating and raised their price target for the stock from $130.00 to $145.00 in a report on Wednesday, November 24th. Morgan Stanley reaffirmed a “buy” rating and issued a $154.00 target price on shares of Chevron in a report on Friday, December 3rd. Wells Fargo & Company raised shares of Chevron from an “equal weight” rating to an “overweight” rating in a report on Wednesday, January 5th. Zacks Investment Research cut shares of Chevron from a “strong-buy” rating to a “hold” rating and set a $121.00 target price for the company. in a report on Monday, December 6th. Finally, Mizuho restated a “buy” rating on shares of Chevron in a research report on Wednesday, November 3rd. Eight investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $126.25.

NYSE:CVX opened at $128.96 on Friday. The firm has a market capitalization of $248.59 billion, a price-to-earnings ratio of 24.90, a PEG ratio of 2.87 and a beta of 1.28. Chevron Co. has a 1-year low of $84.57 and a 1-year high of $129.20. The company has a current ratio of 1.28, a quick ratio of 1.03 and a debt-to-equity ratio of 0.27. The business’s fifty day moving average price is $117.61 and its 200 day moving average price is $107.96.

Chevron (NYSE:CVX) last released its quarterly earnings results on Thursday, October 28th. The oil and gas company reported $2.96 EPS for the quarter, topping the Zacks’ consensus estimate of $2.21 by $0.75. The business had revenue of $44.71 billion for the quarter, compared to analyst estimates of $40.89 billion. Chevron had a return on equity of 7.95% and a net margin of 7.10%. Chevron’s revenue for the quarter was up 82.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.11 EPS. Equities analysts forecast that Chevron Co. will post 8.42 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 10th. Investors of record on Thursday, November 18th were paid a dividend of $1.34 per share. This represents a $5.36 annualized dividend and a yield of 4.16%. The ex-dividend date was Wednesday, November 17th. Chevron’s payout ratio is presently 103.47%.

Chevron Company Profile

Chevron Corp. engages in the provision of administrative, financial management, and technology support for energy and chemical operations. It operates through the Upstream and Downstream segments. The Upstream segment consists of exploration, development, and production of crude oil and natural gas; liquefaction, transportation, and regasification associated with liquefied natural gas; transporting crude oil by major international oil export pipelines; processing, transporting, storage, and marketing of natural gas; and a gas-to-liquids plant.

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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