Sigma Planning Corp Lowers Position in Chevron Corp. (CVX)
Sigma Planning Corp decreased its stake in shares of Chevron Corp. (NYSE:CVX) by 20.3% during the second quarter, Holdings Channel reports. The institutional investor owned 49,761 shares of the company’s stock after selling 12,698 shares during the period. Chevron Corp. makes up approximately 0.7% of Sigma Planning Corp’s holdings, making the stock its 29th largest position. Sigma Planning Corp’s holdings in Chevron Corp. were worth $5,217,000 as of its most recent filing with the SEC.
Several other large investors have also recently bought and sold shares of the stock. Douglas Lane & Associates LLC purchased a new stake in Chevron Corp. during the first quarter valued at about $7,934,000. Quantitative Systematic Strategies LLC purchased a new stake in Chevron Corp. during the first quarter valued at about $660,000. PGGM Investments raised its stake in Chevron Corp. by 2.6% in the first quarter. PGGM Investments now owns 25,453 shares of the company’s stock valued at $2,428,000 after buying an additional 634 shares in the last quarter. Headinvest LLC raised its stake in Chevron Corp. by 3.3% in the first quarter. Headinvest LLC now owns 10,841 shares of the company’s stock valued at $1,034,000 after buying an additional 350 shares in the last quarter. Finally, Lodestar Investment Counsel LLC IL raised its stake in Chevron Corp. by 20.5% in the first quarter. Lodestar Investment Counsel LLC IL now owns 39,957 shares of the company’s stock valued at $3,812,000 after buying an additional 6,803 shares in the last quarter. 62.25% of the stock is currently owned by institutional investors and hedge funds.
Shares of Chevron Corp. (NYSE:CVX) traded up 0.42% during trading on Tuesday, hitting $101.79. 4,720,887 shares of the stock traded hands. The firm’s 50-day moving average price is $101.00 and its 200-day moving average price is $101.46. Chevron Corp. has a 12 month low of $75.33 and a 12 month high of $107.58. The stock’s market cap is $192.03 billion.
Chevron Corp. (NYSE:CVX) last announced its quarterly earnings data on Friday, July 29th. The company reported ($0.78) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.32 by $1.10. The firm had revenue of $29.28 billion for the quarter, compared to the consensus estimate of $25.78 billion. Chevron Corp. had a negative net margin of 0.64% and a positive return on equity of 1.07%. The firm’s revenue for the quarter was down 27.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.30 earnings per share. Analysts anticipate that Chevron Corp. will post $1.31 EPS for the current year.
Several research firms recently issued reports on CVX. Zacks Investment Research raised Chevron Corp. from a “hold” rating to a “buy” rating and set a $118.00 price target on the stock in a research report on Tuesday, July 12th. Jefferies Group increased their target price on Chevron Corp. from $114.00 to $116.00 and gave the stock a “buy” rating in a research report on Tuesday, July 12th. Barclays PLC reaffirmed an “equal weight” rating and issued a $125.00 target price on shares of Chevron Corp. in a research report on Monday, October 10th. Vetr lowered Chevron Corp. from a “strong-buy” rating to a “buy” rating and set a $112.29 target price on the stock. in a research report on Monday, October 10th. Finally, Exane BNP Paribas assumed coverage on Chevron Corp. in a research report on Monday, October 10th. They issued a “neutral” rating and a $102.00 target price on the stock. Twelve research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $105.73.
In related news, insider Michael K. Wirth sold 125,000 shares of the firm’s stock in a transaction on Monday, August 1st. The shares were sold at an average price of $100.47, for a total transaction of $12,558,750.00. Following the completion of the transaction, the insider now directly owns 4,222 shares of the company’s stock, valued at $424,184.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Inge G. Thulin bought 487 shares of the business’s stock in a transaction that occurred on Monday, August 15th. The shares were bought at an average cost of $102.87 per share, with a total value of $50,097.69. The disclosure for this purchase can be found here. Insiders own 0.40% of the company’s stock.
Chevron Corp. Company Profile
Chevron Corporation (Chevron) manages its investments in subsidiaries and affiliates and provides administrative, financial, management and technology support to the United States and international subsidiaries that engage in integrated energy and chemicals operations. The Company operates through two business segments: Upstream and Downstream.
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