Cairn Investment Group Inc. Takes $435,000 Position in Chevron Co. (NYSE:CVX)

Cairn Investment Group Inc. bought a new position in shares of Chevron Co. (NYSE:CVX) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 3,000 shares of the oil and gas company’s stock, valued at approximately $435,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. OLD Second National Bank of Aurora increased its position in Chevron by 0.6% during the 4th quarter. OLD Second National Bank of Aurora now owns 18,397 shares of the oil and gas company’s stock valued at $2,665,000 after purchasing an additional 105 shares during the period. Westhampton Capital LLC increased its position in Chevron by 3.3% during the 4th quarter. Westhampton Capital LLC now owns 7,110 shares of the oil and gas company’s stock valued at $1,030,000 after purchasing an additional 230 shares during the period. Busey Bank increased its position in Chevron by 2.1% during the 4th quarter. Busey Bank now owns 166,536 shares of the oil and gas company’s stock valued at $24,121,000 after purchasing an additional 3,494 shares during the period. Abel Hall LLC increased its position in Chevron by 4.1% during the 4th quarter. Abel Hall LLC now owns 3,782 shares of the oil and gas company’s stock valued at $548,000 after purchasing an additional 148 shares during the period. Finally, Synergy Asset Management LLC increased its position in Chevron by 10.3% during the 4th quarter. Synergy Asset Management LLC now owns 53,895 shares of the oil and gas company’s stock valued at $7,907,000 after purchasing an additional 5,018 shares during the period. 72.42% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Chevron

In related news, CEO Michael K. Wirth sold 164,600 shares of the stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $160.13, for a total value of $26,357,398.00. Following the completion of the sale, the chief executive officer now directly owns 4,280 shares of the company’s stock, valued at approximately $685,356.40. This represents a 97.47 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.20% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research firms have weighed in on CVX. Scotiabank decreased their target price on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. DZ Bank upgraded Chevron from a “hold” rating to a “buy” rating and set a $170.00 price target on the stock in a report on Tuesday, November 5th. Citigroup upgraded Chevron from a “neutral” rating to a “buy” rating and increased their price target for the stock from $145.00 to $185.00 in a report on Tuesday, November 26th. Wells Fargo & Company increased their price target on Chevron from $171.00 to $188.00 and gave the stock an “overweight” rating in a report on Monday, December 9th. Finally, Barclays increased their price target on Chevron from $168.00 to $174.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $175.27.

Chevron Trading Up 0.3 %

NYSE CVX opened at $156.19 on Friday. The firm has a market capitalization of $280.68 billion, a P/E ratio of 17.16, a PEG ratio of 1.35 and a beta of 1.12. The business has a fifty day simple moving average of $153.56 and a 200 day simple moving average of $151.16. Chevron Co. has a 12 month low of $135.37 and a 12 month high of $167.11. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 EPS for the quarter, beating analysts’ consensus estimates of $2.47 by $0.04. The business had revenue of $50.67 billion during the quarter, compared to analyst estimates of $48.86 billion. Chevron had a return on equity of 13.15% and a net margin of 8.44%. Chevron’s quarterly revenue was down 6.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.05 EPS. On average, analysts predict that Chevron Co. will post 10.18 EPS for the current fiscal year.

About Chevron

Chevron Corporation, through its subsidiaries, engages in the integrated energy and chemicals operations in the United States and internationally. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, production, and transportation of crude oil and natural gas; processing, liquefaction, transportation, and regasification of liquefied natural gas; transportation of crude oil through pipelines; transportation, storage, and marketing of natural gas; and carbon capture and storage, as well as a gas-to-liquids plant.