Enlightenment Research LLC Purchases Shares of 6,900 Chevron Co. (NYSE:CVX)

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Enlightenment Research LLC purchased a new stake in shares of Chevron Co. (NYSE:CVX) in the third quarter, Holdings Channel.com reports. The institutional investor purchased 6,900 shares of the oil and gas company’s stock, valued at approximately $818,000. Chevron accounts for about 1.8% of Enlightenment Research LLC’s holdings, making the stock its 13th biggest holding.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. W.G. Shaheen & Associates DBA Whitney & Co grew its holdings in shares of Chevron by 0.8% during the 2nd quarter. W.G. Shaheen & Associates DBA Whitney & Co now owns 45,014 shares of the oil and gas company’s stock worth $5,602,000 after acquiring an additional 379 shares during the period. Beese Fulmer Investment Management Inc. grew its holdings in shares of Chevron by 0.4% during the 2nd quarter. Beese Fulmer Investment Management Inc. now owns 58,040 shares of the oil and gas company’s stock worth $7,222,000 after acquiring an additional 238 shares during the period. DekaBank Deutsche Girozentrale grew its holdings in shares of Chevron by 74.7% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 1,387,145 shares of the oil and gas company’s stock worth $171,630,000 after acquiring an additional 592,920 shares during the period. Goodman Financial Corp grew its holdings in shares of Chevron by 1.2% during the 2nd quarter. Goodman Financial Corp now owns 50,084 shares of the oil and gas company’s stock worth $6,232,000 after acquiring an additional 599 shares during the period. Finally, Gratus Capital LLC grew its holdings in shares of Chevron by 7.4% during the 2nd quarter. Gratus Capital LLC now owns 14,591 shares of the oil and gas company’s stock worth $1,816,000 after acquiring an additional 1,002 shares during the period. 65.64% of the stock is owned by institutional investors and hedge funds.

Chevron stock opened at $115.16 on Friday. The company has a quick ratio of 0.91, a current ratio of 1.15 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $220.81 billion, a P/E ratio of 13.96, a PEG ratio of 4.43 and a beta of 0.99. The stock’s 50 day moving average is $118.47 and its 200 day moving average is $120.53. Chevron Co. has a twelve month low of $100.22 and a twelve month high of $127.34.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.27 earnings per share for the quarter, topping the consensus estimate of $1.74 by $0.53. The company had revenue of $38.85 billion for the quarter, compared to the consensus estimate of $40.14 billion. Chevron had a return on equity of 9.58% and a net margin of 9.18%. The firm’s quarterly revenue was down 8.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.78 EPS. As a group, equities analysts expect that Chevron Co. will post 6.56 EPS for the current year.

In other Chevron news, CFO Pierre R. Breber sold 15,000 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $124.97, for a total transaction of $1,874,550.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Debra L. Reed bought 4,250 shares of the business’s stock in a transaction on Wednesday, August 7th. The shares were acquired at an average price of $118.14 per share, for a total transaction of $502,095.00. The disclosure for this purchase can be found here. Insiders sold a total of 86,750 shares of company stock worth $10,648,200 in the last 90 days. 0.31% of the stock is currently owned by company insiders.

A number of research firms have weighed in on CVX. Cowen set a $140.00 target price on Chevron and gave the stock a “buy” rating in a report on Tuesday. Morgan Stanley reduced their target price on Chevron from $146.00 to $144.00 and set an “overweight” rating on the stock in a report on Friday, July 12th. ValuEngine upgraded Chevron from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Independent Research set a $127.00 target price on Chevron and gave the stock a “neutral” rating in a report on Thursday, August 29th. Finally, BMO Capital Markets began coverage on Chevron in a report on Tuesday, August 20th. They set an “outperform” rating and a $165.00 target price on the stock. Five research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $137.47.

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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