Chevron Co. (NYSE:CVX) Shares Sold by Wedbush Securities Inc.

Share on StockTwits

Wedbush Securities Inc. cut its holdings in shares of Chevron Co. (NYSE:CVX) by 10.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 55,849 shares of the oil and gas company’s stock after selling 6,491 shares during the period. Wedbush Securities Inc.’s holdings in Chevron were worth $4,021,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. Selective Wealth Management Inc. purchased a new stake in shares of Chevron during the second quarter worth approximately $25,000. Demars Financial Group LLC purchased a new stake in shares of Chevron during the second quarter worth approximately $32,000. Marshall & Sullivan Inc. WA purchased a new stake in shares of Chevron during the second quarter worth approximately $36,000. Asset Advisors Investment Management LLC purchased a new stake in shares of Chevron during the second quarter worth approximately $36,000. Finally, Watson Rebecca purchased a new stake in shares of Chevron during the second quarter worth approximately $39,000. Institutional investors own 64.01% of the company’s stock.

In other news, insider David A. Inchausti sold 5,750 shares of the firm’s stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $92.00, for a total value of $529,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.28% of the company’s stock.

A number of research firms recently weighed in on CVX. Truist lowered shares of Chevron to a “buy” rating and cut their target price for the stock from $113.00 to $112.00 in a research note on Friday, October 9th. Bank of America upgraded shares of Chevron from a “neutral” rating to a “buy” rating and set a $96.00 price target on the stock in a research note on Monday, September 28th. Zacks Investment Research upgraded shares of Chevron from a “hold” rating to a “strong-buy” rating and set a $105.00 price target on the stock in a research note on Wednesday, July 22nd. Credit Suisse Group reiterated an “outperform” rating and issued a $97.00 price target on shares of Chevron in a research note on Tuesday. Finally, Truist Securiti dropped their price target on shares of Chevron from $113.00 to $112.00 and set a “buy” rating on the stock in a research note on Friday, October 9th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $107.04.

NYSE:CVX traded down $1.14 during trading hours on Friday, hitting $72.26. The company’s stock had a trading volume of 514,780 shares, compared to its average volume of 11,167,353. The business’s 50-day moving average is $75.30 and its two-hundred day moving average is $85.44. The company has a market capitalization of $137.06 billion, a PE ratio of -15.71, a PEG ratio of 2,376.00 and a beta of 1.26. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.87 and a current ratio of 1.14. Chevron Co. has a 52-week low of $51.60 and a 52-week high of $122.94.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, July 31st. The oil and gas company reported ($1.59) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.93) by ($0.66). The business had revenue of $13.95 billion during the quarter, compared to analysts’ expectations of $21.71 billion. Chevron had a positive return on equity of 3.61% and a negative net margin of 7.41%. The company’s revenue was down 64.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.77 EPS. As a group, analysts predict that Chevron Co. will post -0.36 EPS for the current fiscal year.

About Chevron

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.

Featured Story: Management Fee

Institutional Ownership by Quarter for Chevron (NYSE:CVX)

Receive News & Ratings for Chevron Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chevron and related companies with MarketBeat.com's FREE daily email newsletter.