Private Advisory Group LLC Increases Holdings in Chevron Co. (CVX)

Private Advisory Group LLC raised its position in shares of Chevron Co. (NYSE:CVX) by 13.4% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 21,049 shares of the oil and gas company’s stock after buying an additional 2,487 shares during the quarter. Chevron comprises 1.3% of Private Advisory Group LLC’s portfolio, making the stock its 24th largest position. Private Advisory Group LLC’s holdings in Chevron were worth $2,661,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in CVX. Cornerstone Wealth Management LLC raised its stake in Chevron by 12,404.4% during the second quarter. Cornerstone Wealth Management LLC now owns 1,938,051 shares of the oil and gas company’s stock valued at $15,598,000 after buying an additional 1,922,552 shares in the last quarter. Summit Trail Advisors LLC raised its stake in Chevron by 9,968.8% during the first quarter. Summit Trail Advisors LLC now owns 1,145,531 shares of the oil and gas company’s stock valued at $1,146,000 after buying an additional 1,134,154 shares in the last quarter. American Century Companies Inc. raised its stake in Chevron by 18.1% during the first quarter. American Century Companies Inc. now owns 5,784,894 shares of the oil and gas company’s stock valued at $659,709,000 after buying an additional 886,305 shares in the last quarter. State of New Jersey Common Pension Fund D raised its stake in Chevron by 87.0% during the first quarter. State of New Jersey Common Pension Fund D now owns 1,633,900 shares of the oil and gas company’s stock valued at $186,330,000 after buying an additional 760,000 shares in the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. raised its position in shares of Chevron by 74.3% during the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 1,567,260 shares of the oil and gas company’s stock worth $198,149,000 after purchasing an additional 667,960 shares during the period. Hedge funds and other institutional investors own 64.60% of the company’s stock.

In related news, insider James William Johnson sold 4,750 shares of the firm’s stock in a transaction that occurred on Thursday, October 11th. The stock was sold at an average price of $119.97, for a total value of $569,857.50. Following the sale, the insider now directly owns 4,750 shares in the company, valued at approximately $569,857.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.46% of the stock is owned by company insiders.

CVX opened at $108.93 on Tuesday. Chevron Co. has a 12 month low of $107.54 and a 12 month high of $133.88. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.87 and a current ratio of 1.08. The company has a market capitalization of $213.71 billion, a P/E ratio of 29.44, a price-to-earnings-growth ratio of 1.95 and a beta of 1.07.

CVX has been the topic of a number of research reports. Royal Bank of Canada reiterated a “neutral” rating and set a $145.00 price target on shares of Chevron in a research report on Monday, July 2nd. Macquarie cut Chevron from an “outperform” rating to a “neutral” rating and set a $125.00 price target on the stock. in a research report on Tuesday, July 3rd. Barclays increased their price target on Chevron from $145.00 to $148.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 11th. Zacks Investment Research cut Chevron from a “buy” rating to a “hold” rating in a research report on Monday, July 23rd. Finally, Goldman Sachs Group reiterated a “buy” rating and set a $141.00 price target on shares of Chevron in a research report on Tuesday, July 31st. Nine equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. Chevron has an average rating of “Buy” and an average price target of $137.17.

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.

See Also: Balanced Fund

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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