Lockheed Martin Investment Management Co. Has $6.73 Million Position in Chevron Corporation $CVX

Lockheed Martin Investment Management Co. lowered its position in Chevron Corporation (NYSE:CVX) by 38.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 46,990 shares of the oil and gas company’s stock after selling 29,350 shares during the quarter. Lockheed Martin Investment Management Co.’s holdings in Chevron were worth $6,728,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Golden State Wealth Management LLC boosted its holdings in Chevron by 3.1% in the first quarter. Golden State Wealth Management LLC now owns 7,835 shares of the oil and gas company’s stock valued at $1,311,000 after acquiring an additional 239 shares during the last quarter. Private Trust Co. NA boosted its holdings in shares of Chevron by 4.1% during the 1st quarter. Private Trust Co. NA now owns 31,476 shares of the oil and gas company’s stock worth $5,266,000 after buying an additional 1,251 shares in the last quarter. Glassy Mountain Advisors Inc. bought a new position in shares of Chevron during the 1st quarter worth approximately $209,000. Strategic Financial Concepts LLC lifted its holdings in shares of Chevron by 23.1% in the 1st quarter. Strategic Financial Concepts LLC now owns 6,588 shares of the oil and gas company’s stock worth $1,102,000 after purchasing an additional 1,236 shares in the last quarter. Finally, Revisor Wealth Management LLC lifted its holdings in shares of Chevron by 79.2% in the 1st quarter. Revisor Wealth Management LLC now owns 3,545 shares of the oil and gas company’s stock worth $593,000 after purchasing an additional 1,567 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Trading Down 1.1%

Shares of Chevron stock opened at $153.36 on Friday. Chevron Corporation has a 52-week low of $132.04 and a 52-week high of $168.96. The stock’s 50-day simple moving average is $156.08 and its 200 day simple moving average is $148.85. The stock has a market capitalization of $265.00 billion, a P/E ratio of 19.74, a P/E/G ratio of 4.40 and a beta of 0.84. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.74 and a current ratio of 1.00.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, August 1st. The oil and gas company reported $1.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.58 by $0.19. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The business had revenue of $44.82 billion for the quarter, compared to analysts’ expectations of $44.59 billion. During the same period in the previous year, the business posted $2.55 EPS. The firm’s quarterly revenue was down 12.4% compared to the same quarter last year. As a group, research analysts anticipate that Chevron Corporation will post 10.79 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Melius Research initiated coverage on Chevron in a research note on Wednesday, August 20th. They set a “hold” rating and a $155.00 price target for the company. Weiss Ratings restated a “hold (c)” rating on shares of Chevron in a research note on Wednesday, October 8th. Scotiabank lifted their target price on Chevron from $160.00 to $165.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 9th. Barclays lowered their target price on Chevron from $160.00 to $158.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 7th. Finally, Wells Fargo & Company initiated coverage on Chevron in a research note on Friday, October 17th. They issued an “overweight” rating and a $190.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, Chevron currently has a consensus rating of “Hold” and a consensus price target of $165.25.

Insider Transactions at Chevron

In related news, Director John B. Hess sold 375,000 shares of the business’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $158.30, for a total value of $59,362,500.00. Following the sale, the director directly owned 1,403,045 shares in the company, valued at approximately $222,102,023.50. The trade was a 21.09% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Alana K. Knowles sold 3,978 shares of the business’s stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $160.00, for a total value of $636,480.00. Following the completion of the sale, the vice president owned 1,181 shares in the company, valued at $188,960. This represents a 77.11% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.21% of the company’s stock.

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.