Summit Asset Management LLC Has $622,000 Position in Chevron Co. (CVX)

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Summit Asset Management LLC decreased its position in shares of Chevron Co. (NYSE:CVX) by 14.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,922 shares of the oil and gas company’s stock after selling 838 shares during the period. Summit Asset Management LLC’s holdings in Chevron were worth $622,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Live Your Vision LLC boosted its position in Chevron by 308.0% in the second quarter. Live Your Vision LLC now owns 816 shares of the oil and gas company’s stock valued at $101,000 after buying an additional 616 shares in the last quarter. Litman Gregory Asset Management LLC raised its stake in shares of Chevron by 566.9% during the first quarter. Litman Gregory Asset Management LLC now owns 1,147 shares of the oil and gas company’s stock valued at $131,000 after acquiring an additional 975 shares during the last quarter. Point72 Asia Hong Kong Ltd raised its stake in shares of Chevron by 20,716.7% during the first quarter. Point72 Asia Hong Kong Ltd now owns 1,249 shares of the oil and gas company’s stock valued at $142,000 after acquiring an additional 1,243 shares during the last quarter. Shine Investment Advisory Services Inc. raised its stake in shares of Chevron by 45.4% during the second quarter. Shine Investment Advisory Services Inc. now owns 1,479 shares of the oil and gas company’s stock valued at $187,000 after acquiring an additional 462 shares during the last quarter. Finally, BigSur Wealth Management LLC bought a new position in shares of Chevron during the second quarter valued at $200,000. Institutional investors and hedge funds own 64.60% of the company’s stock.

In related news, insider James William Johnson sold 4,750 shares of Chevron stock in a transaction on Thursday, September 13th. The shares were sold at an average price of $116.00, for a total transaction of $551,000.00. Following the completion of the transaction, the insider now owns 4,750 shares of the company’s stock, valued at $551,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.46% of the stock is owned by company insiders.

Several equities analysts have recently issued reports on the stock. Berenberg Bank assumed coverage on shares of Chevron in a research note on Tuesday, September 11th. They set a “hold” rating and a $135.00 price target for the company. Bank of America downgraded shares of Chevron from a “buy” rating to a “neutral” rating and dropped their price target for the company from $150.00 to $135.00 in a research note on Thursday, September 6th. Barclays raised their price target on shares of Chevron from $145.00 to $148.00 and gave the company an “overweight” rating in a research note on Wednesday, July 11th. Royal Bank of Canada reaffirmed a “neutral” rating and set a $145.00 price target on shares of Chevron in a research note on Monday, July 2nd. Finally, Goldman Sachs Group reaffirmed a “buy” rating and set a $141.00 price target on shares of Chevron in a research note on Tuesday, July 31st. Nine research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $137.17.

Shares of NYSE CVX opened at $108.93 on Tuesday. Chevron Co. has a twelve month low of $107.54 and a twelve month high of $133.88. The firm has a market cap of $213.71 billion, a P/E ratio of 29.44, a PEG ratio of 1.95 and a beta of 1.07. The company has a quick ratio of 0.87, a current ratio of 1.08 and a debt-to-equity ratio of 0.20.

Chevron 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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