Affiance Financial LLC Acquires 1,128 Shares of Chevron Co. (NYSE:CVX)

Affiance Financial LLC lifted its holdings in Chevron Co. (NYSE:CVX) by 49.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,429 shares of the oil and gas company’s stock after purchasing an additional 1,128 shares during the quarter. Affiance Financial LLC’s holdings in Chevron were worth $407,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in CVX. Guidant Wealth Advisors lifted its position in shares of Chevron by 63.9% in the second quarter. Guidant Wealth Advisors now owns 259 shares of the oil and gas company’s stock worth $32,000 after purchasing an additional 101 shares in the last quarter. Evolution Wealth Advisors LLC bought a new stake in Chevron during the second quarter worth $34,000. Transamerica Financial Advisors Inc. bought a new stake in Chevron during the second quarter worth $46,000. Cordasco Financial Network raised its position in Chevron by 55.3% during the second quarter. Cordasco Financial Network now owns 379 shares of the oil and gas company’s stock worth $47,000 after acquiring an additional 135 shares in the last quarter. Finally, CKW Financial Group raised its position in Chevron by 154.0% during the second quarter. CKW Financial Group now owns 414 shares of the oil and gas company’s stock worth $51,000 after acquiring an additional 251 shares in the last quarter. 65.61% of the stock is currently owned by institutional investors and hedge funds.

Several analysts have issued reports on CVX shares. Barclays started coverage on shares of Chevron in a research report on Monday, August 19th. They set an “overweight” rating and a $145.00 price target on the stock. Independent Research set a $127.00 price target on shares of Chevron and gave the stock a “neutral” rating in a research report on Thursday, August 29th. Cowen set a $140.00 price target on shares of Chevron and gave the stock a “buy” rating in a research report on Friday, August 30th. ValuEngine raised shares of Chevron from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Finally, BMO Capital Markets started coverage on shares of Chevron in a research report on Tuesday, August 20th. They set an “outperform” rating and a $165.00 price target on the stock. Five analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $137.47.

In other news, CEO Michael K. Wirth sold 33,750 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $125.00, for a total value of $4,218,750.00. Following the transaction, the chief executive officer now directly owns 33,750 shares of the company’s stock, valued at $4,218,750. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Debra L. Reed acquired 4,250 shares of the company’s stock in a transaction dated Wednesday, August 7th. The stock was bought at an average cost of $118.14 per share, for a total transaction of $502,095.00. The disclosure for this purchase can be found here. Insiders sold 86,750 shares of company stock worth $10,648,200 over the last three months. Insiders own 0.31% of the company’s stock.

Shares of CVX traded up $1.46 during trading hours on Friday, hitting $116.05. The company had a trading volume of 992,360 shares, compared to its average volume of 6,429,116. The firm has a market cap of $212.07 billion, a price-to-earnings ratio of 14.07, a PEG ratio of 4.14 and a beta of 0.99. The business has a fifty day moving average of $118.48 and a 200-day moving average of $120.78. Chevron Co. has a 12 month low of $100.22 and a 12 month 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 issued its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.27 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.74 by $0.53. The company had revenue of $38.85 billion for the quarter, compared to analyst estimates of $40.14 billion. Chevron had a net margin of 9.18% and a return on equity of 9.58%. The company’s revenue was down 8.0% on a year-over-year basis. During the same period in the prior year, the firm earned $1.78 earnings per share. On average, equities analysts expect that Chevron Co. will post 6.75 EPS for the current fiscal year.

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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