Bristlecone Advisors LLC Acquires 285 Shares of Chevron Corporation (CVX)

Bristlecone Advisors LLC grew its holdings in shares of Chevron Corporation (NYSE:CVX) by 3.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,270 shares of the oil and gas company’s stock after acquiring an additional 285 shares during the period. Bristlecone Advisors LLC’s holdings in Chevron Corporation were worth $967,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Thompson Davis & CO. Inc. grew its position in shares of Chevron Corporation by 20.0% during the 1st quarter. Thompson Davis & CO. Inc. now owns 1,146 shares of the oil and gas company’s stock valued at $123,000 after acquiring an additional 191 shares during the period. Daiwa SB Investments Ltd. grew its position in shares of Chevron Corporation by 438.5% during the 2nd quarter. Daiwa SB Investments Ltd. now owns 1,400 shares of the oil and gas company’s stock valued at $146,000 after acquiring an additional 1,140 shares during the period. New Capital Management LP grew its position in shares of Chevron Corporation by 0.3% during the 1st quarter. New Capital Management LP now owns 1,455 shares of the oil and gas company’s stock valued at $156,000 after acquiring an additional 4 shares during the period. Marshall & Sullivan Inc. WA grew its position in shares of Chevron Corporation by 8.8% during the 1st quarter. Marshall & Sullivan Inc. WA now owns 1,985 shares of the oil and gas company’s stock valued at $213,000 after acquiring an additional 160 shares during the period. Finally, Harwood Advisory Group LLC grew its position in shares of Chevron Corporation by 22.0% during the 1st quarter. Harwood Advisory Group LLC now owns 2,137 shares of the oil and gas company’s stock valued at $229,000 after acquiring an additional 386 shares during the period. 62.73% of the stock is owned by hedge funds and other institutional investors.

Shares of Chevron Corporation (NYSE:CVX) opened at 119.33 on Thursday. The stock’s 50 day moving average is $113.95 and its 200 day moving average is $108.14. The stock has a market capitalization of $226.13 billion, a PE ratio of 38.69 and a beta of 1.24. Chevron Corporation has a 12 month low of $99.61 and a 12 month high of $119.82.

Chevron Corporation (NYSE:CVX) last posted its quarterly earnings results on Friday, July 28th. The oil and gas company reported $0.91 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.89 by $0.02. The firm had revenue of $34.48 billion for the quarter, compared to the consensus estimate of $32.77 billion. Chevron Corporation had a net margin of 4.50% and a return on equity of 4.13%. The company’s revenue for the quarter was up 17.8% on a year-over-year basis. During the same period last year, the firm posted ($0.78) earnings per share. Analysts anticipate that Chevron Corporation will post $3.99 earnings per share for the current fiscal year.

In other news, insider James William Johnson sold 31,000 shares of the firm’s stock in a transaction dated Wednesday, August 2nd. The shares were sold at an average price of $110.68, for a total value of $3,431,080.00. Following the transaction, the insider now directly owns 11,000 shares of the company’s stock, valued at $1,217,480. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Linnet F. Deily sold 2,312 shares of the firm’s stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $107.38, for a total transaction of $248,262.56. The disclosure for this sale can be found here. Over the last three months, insiders sold 72,312 shares of company stock worth $8,008,343. Insiders own 0.38% of the company’s stock.

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A number of brokerages have recently issued reports on CVX. Barclays PLC raised shares of Chevron Corporation to an “overweight” rating in a research report on Wednesday. Jefferies Group LLC reissued a “buy” rating and set a $130.00 price objective on shares of Chevron Corporation in a research report on Tuesday, October 3rd. Bank of America Corporation reissued a “buy” rating and set a $125.00 price objective (up previously from $120.00) on shares of Chevron Corporation in a research report on Tuesday, October 3rd. Wells Fargo & Company reissued a “market perform” rating and set a $108.00 price objective (up previously from $100.00) on shares of Chevron Corporation in a research report on Tuesday, October 3rd. Finally, Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating and issued a $123.00 target price (up previously from $118.00) on shares of Chevron Corporation in a report on Tuesday, September 19th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. Chevron Corporation presently has a consensus rating of “Buy” and an average target price of $117.07.

Chevron Corporation Profile

Chevron Corporation (Chevron) manages its investments in subsidiaries and affiliates, and provides administrative, financial, management and technology support to the United States and international subsidiaries that engage in integrated energy and chemicals operations. The Company operates through two business segments: Upstream and Downstream.

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Institutional Ownership by Quarter for Chevron Corporation (NYSE:CVX)

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