Chevron Co. (NYSE:CVX) Shares Sold by Confluence Wealth Services Inc.

Confluence Wealth Services Inc. trimmed its position in shares of Chevron Co. (NYSE:CVX) by 7.0% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 38,028 shares of the oil and gas company’s stock after selling 2,863 shares during the period. Confluence Wealth Services Inc.’s holdings in Chevron were worth $5,600,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. New Century Financial Group LLC lifted its position in Chevron by 277.8% during the first quarter. New Century Financial Group LLC now owns 19,335 shares of the oil and gas company’s stock valued at $3,050,000 after buying an additional 14,217 shares in the last quarter. Retirement Guys Formula LLC purchased a new position in shares of Chevron in the 1st quarter valued at $733,000. Insight Folios Inc raised its stake in shares of Chevron by 0.8% in the 1st quarter. Insight Folios Inc now owns 43,394 shares of the oil and gas company’s stock valued at $6,845,000 after acquiring an additional 347 shares during the period. FCG Investment Co lifted its holdings in shares of Chevron by 34.1% during the 1st quarter. FCG Investment Co now owns 5,967 shares of the oil and gas company’s stock valued at $941,000 after acquiring an additional 1,517 shares in the last quarter. Finally, American National Bank & Trust Co. VA purchased a new stake in Chevron during the 1st quarter worth $6,978,000. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Stock Up 2.9 %

Shares of Chevron stock opened at $153.07 on Friday. The business has a 50-day moving average price of $146.96 and a 200 day moving average price of $152.96. Chevron Co. has a fifty-two week low of $135.37 and a fifty-two week high of $167.11. The firm has a market cap of $279.95 billion, a P/E ratio of 16.82, a P/E/G ratio of 3.29 and a beta of 1.09. The company has a quick ratio of 0.85, a current ratio of 1.16 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). Chevron had a net margin of 9.31% and a return on equity of 13.70%. The firm had revenue of $51.18 billion during the quarter, compared to the consensus estimate of $48.68 billion. During the same quarter last year, the firm posted $3.08 earnings per share. Chevron’s revenue was up 4.7% compared to the same quarter last year. On average, sell-side analysts forecast that Chevron Co. will post 10.74 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have commented on the company. Royal Bank of Canada restated an “outperform” rating and set a $170.00 price objective on shares of Chevron in a research note on Tuesday, October 8th. Mizuho decreased their price target on Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a report on Monday, September 16th. Bank of America began coverage on shares of Chevron in a research note on Thursday, October 17th. They set a “buy” rating and a $168.00 price objective on the stock. Sanford C. Bernstein downgraded shares of Chevron from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $183.00 to $167.00 in a research note on Wednesday, July 17th. Finally, Barclays dropped their price target on shares of Chevron from $185.00 to $168.00 and set an “overweight” rating on the stock in a research note on Thursday, October 3rd. Five equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, Chevron currently has a consensus rating of “Moderate Buy” and a consensus target price of $173.07.

Chevron Company Profile

Chevron Corporation, through its subsidiaries, engages in the integrated energy and chemicals operations in the United States and internationally. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, production, and transportation of crude oil and natural gas; processing, liquefaction, transportation, and regasification of liquefied natural gas; transportation of crude oil through pipelines; transportation, storage, and marketing of natural gas; and carbon capture and storage, as well as a gas-to-liquids plant.