ProVise Management Group LLC decreased its position in shares of Chevron Co. (NYSE:CVX) by 5.8% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,524 shares of the oil and gas company’s stock after selling 830 shares during the period. ProVise Management Group LLC’s holdings in Chevron were worth $974,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Selective Wealth Management Inc. bought a new position in shares of Chevron in the second quarter worth about $25,000. Demars Financial Group LLC bought a new position in shares of Chevron in the second quarter worth about $32,000. Marshall & Sullivan Inc. WA bought a new position in shares of Chevron in the second quarter worth about $36,000. Asset Advisors Investment Management LLC bought a new position in shares of Chevron in the second quarter worth about $36,000. Finally, Watson Rebecca bought a new position in shares of Chevron in the second quarter worth about $39,000. Institutional investors and hedge funds own 64.01% of the company’s stock.

In related news, insider David A. Inchausti sold 5,750 shares of the stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $92.00, for a total value of $529,000.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.28% of the stock is currently owned by corporate insiders.

Shares of Chevron stock traded down $1.10 during midday trading on Tuesday, hitting $69.84. The company had a trading volume of 945,093 shares, compared to its average volume of 10,782,414. The stock has a market cap of $132.47 billion, a price-to-earnings ratio of -14.96 and a beta of 1.26. 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 fifty day simple moving average of $74.53 and a 200 day simple moving average of $85.34. Chevron Co. has a 12-month low of $51.60 and a 12-month high of $122.94.

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

A number of research firms have recently commented on CVX. Truist cut shares of Chevron to a “buy” rating and cut their price target for the stock from $113.00 to $112.00 in a report on Friday, October 9th. MKM Partners began coverage on shares of Chevron in a report on Thursday, September 24th. They issued a “buy” rating and a $121.00 price target on the stock. Scotiabank cut shares of Chevron from a “sector outperform” rating to a “sector perform” rating and set a $95.00 price target on the stock. in a report on Wednesday, September 23rd. Raymond James upped their price objective on shares of Chevron from $95.00 to $100.00 and gave the stock an “outperform” rating in a research note on Monday, July 20th. Finally, Piper Sandler lowered shares of Chevron from an “overweight” rating to a “neutral” rating and set a $108.00 price objective for the company. in a research note on Monday, August 17th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $107.48.

Chevron Company 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.

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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