Traynor Capital Management Inc. decreased its holdings in shares of Chevron Co. (NYSE:CVX) by 16.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,649 shares of the oil and gas company’s stock after selling 718 shares during the quarter. Traynor Capital Management Inc.’s holdings in Chevron were worth $264,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Selective Wealth Management Inc. acquired a new stake in Chevron during the second quarter worth $25,000. Demars Financial Group LLC acquired a new stake in Chevron during the second quarter worth $32,000. Marshall & Sullivan Inc. WA acquired a new stake in Chevron during the second quarter worth $36,000. Asset Advisors Investment Management LLC acquired a new stake in Chevron during the second quarter worth $36,000. Finally, Watson Rebecca acquired a new stake in Chevron during the second quarter worth $39,000. 64.01% of the stock is owned by institutional investors.

Chevron stock traded down $0.89 during midday trading on Tuesday, reaching $70.05. The company’s stock had a trading volume of 921,747 shares, compared to its average volume of 10,782,414. Chevron Co. has a fifty-two week low of $51.60 and a fifty-two week high of $122.94. The company has a quick ratio of 0.87, a current ratio of 1.14 and a debt-to-equity ratio of 0.23. The company has a market cap of $132.47 billion, a P/E ratio of -14.96 and a beta of 1.26. The business has a 50-day simple moving average of $74.53 and a 200-day simple moving average of $85.34.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, July 31st. The oil and gas company reported ($1.59) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.93) by ($0.66). Chevron had a negative net margin of 7.41% and a positive return on equity of 3.61%. The business had revenue of $13.95 billion during the quarter, compared to analyst estimates of $21.71 billion. During the same quarter in the prior year, the business earned $1.77 earnings per share. The firm’s quarterly revenue was down 64.1% on a year-over-year basis. As a group, equities analysts forecast that Chevron Co. will post -0.36 earnings per share for the current year.

In other news, insider David A. Inchausti sold 5,750 shares of Chevron stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $92.00, for a total transaction of $529,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.28% of the stock is currently owned by insiders.

CVX has been the subject of several recent analyst reports. Truist cut 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. Raymond James raised their price target on Chevron from $95.00 to $100.00 and gave the stock an “outperform” rating in a research report on Monday, July 20th. Jefferies Financial Group restated a “buy” rating and set a $108.00 price target on shares of Chevron in a research report on Tuesday, August 11th. Piper Sandler lowered Chevron from an “overweight” rating to a “neutral” rating and set a $108.00 price target for the company. in a research report on Monday, August 17th. Finally, Scotia Howard Weill lowered Chevron from a “buy” rating to a “sector perform” rating and set a $121.00 price target for the company. in a research report on Thursday, September 24th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $107.48.

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.

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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