Chevron Corporation (NYSE:CVX) Shares Sold by Pettyjohn Wood & White Inc.

Key Points

• Pettyjohn Wood & White Inc. has reduced its holdings in Chevron Corporation by 6.0% in Q1, now owning 47,205 shares, valued at approximately $7.9 million.
• Institutional investors now own 72.42% of Chevron, with notable changes including Harvest Fund Management increasing its position by 420.7%.
• Chevron's shares saw a recent opening price of $151.75 and have a consensus rating of “Hold” with a target price of $163.18.

Pettyjohn Wood & White Inc. reduced its stake in shares of Chevron Corporation (NYSE:CVX - Free Report) by 6.0% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 47,205 shares of the oil and gas company's stock after selling 3,000 shares during the period. Chevron makes up about 1.5% of Pettyjohn Wood & White Inc.'s holdings, making the stock its 19th largest position. Pettyjohn Wood & White Inc.'s holdings in Chevron were worth $7,897,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in the stock. Harvest Fund Management Co. Ltd raised its stake in shares of Chevron by 420.7% during the 1st quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company's stock worth $25,000 after buying an additional 122 shares during the last quarter. 10Elms LLP acquired a new position in shares of Chevron during the 4th quarter worth $29,000. IFS Advisors LLC raised its stake in shares of Chevron by 119.6% during the 1st quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company's stock worth $36,000 after buying an additional 116 shares during the last quarter. Navigoe LLC acquired a new position in shares of Chevron during the 4th quarter worth $33,000. Finally, Cloud Capital Management LLC acquired a new position in shares of Chevron during the 1st quarter worth $39,000. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Chevron Trading Down 0.2%

Shares of NYSE CVX traded down $0.31 on Friday, reaching $151.33. 10,704,924 shares of the company traded hands, compared to its average volume of 12,271,876. Chevron Corporation has a fifty-two week low of $132.04 and a fifty-two week high of $168.96. The company has a 50 day moving average of $146.86 and a 200 day moving average of $148.87. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $264.28 billion, a PE ratio of 17.29, a P/E/G ratio of 2.39 and a beta of 0.87.

Chevron (NYSE:CVX - Get Free Report) last posted its quarterly earnings data on Friday, August 1st. The oil and gas company reported $1.77 EPS for the quarter, beating analysts' consensus estimates of $1.58 by $0.19. Chevron had a net margin of 7.76% and a return on equity of 10.73%. The company had revenue of $44.82 billion during the quarter, compared to the consensus estimate of $44.59 billion. During the same quarter in the prior year, the company posted $2.55 EPS. The company's quarterly revenue was down 12.4% compared to the same quarter last year. On average, equities research analysts forecast that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Redburn Atlantic reaffirmed a "sell" rating and set a $124.00 price target (down previously from $156.00) on shares of Chevron in a research note on Wednesday, April 23rd. HSBC downgraded Chevron from a "buy" rating to a "hold" rating and cut their price target for the stock from $176.00 to $158.00 in a research note on Tuesday, May 13th. Wells Fargo & Company reaffirmed an "overweight" rating and set a $178.00 price target on shares of Chevron in a research note on Friday. Raymond James Financial reissued an "outperform" rating on shares of Chevron in a research note on Friday. Finally, Hsbc Global Res downgraded shares of Chevron from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 13th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, Chevron has a consensus rating of "Hold" and a consensus price target of $163.18.

Chevron Profile

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.