Murphy Pohlad Asset Management LLC Sells 128 Shares of Chevron Co. (NYSE:CVX)

Murphy Pohlad Asset Management LLC cut its stake in shares of Chevron Co. (NYSE:CVX) by 0.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 25,459 shares of the oil and gas company’s stock after selling 128 shares during the quarter. Chevron makes up approximately 1.6% of Murphy Pohlad Asset Management LLC’s holdings, making the stock its 22nd biggest position. Murphy Pohlad Asset Management LLC’s holdings in Chevron were worth $3,687,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Rational Advisors LLC bought a new stake in shares of Chevron during the third quarter valued at approximately $29,000. Legacy Investment Solutions LLC purchased a new position in shares of Chevron in the 3rd quarter worth approximately $29,000. Darwin Wealth Management LLC bought a new position in Chevron during the third quarter valued at $30,000. RPg Family Wealth Advisory LLC bought a new position in Chevron during the 3rd quarter valued at about $31,000. Finally, Krane Funds Advisors LLC purchased a new stake in shares of Chevron in the third quarter worth approximately $47,000. 72.42% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CVX has been the topic of several recent analyst reports. Bank of America assumed coverage on shares of Chevron in a research note on Thursday, October 17th. They issued a “buy” rating and a $168.00 price target on the stock. Scotiabank cut their target price on Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. Royal Bank of Canada increased their price objective on Chevron from $170.00 to $175.00 and gave the company an “outperform” rating in a report on Monday, November 4th. Barclays boosted their target price on shares of Chevron from $168.00 to $174.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. Finally, Raymond James raised their price objective on Chevron from $175.00 to $180.00 and gave the stock an “outperform” rating in a research note on Friday, January 17th. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Chevron presently has an average rating of “Moderate Buy” and an average target price of $175.27.

Insider Activity at Chevron

In other news, CEO Michael K. Wirth sold 164,600 shares of the stock in a transaction that occurred on Thursday, November 14th. The shares were 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 owns 4,280 shares of the company’s stock, valued at $685,356.40. This represents a 97.47 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.20% of the company’s stock.

Chevron Price Performance

Shares of NYSE CVX opened at $156.19 on Friday. The firm has a market cap of $280.68 billion, a PE ratio of 17.16, a PEG ratio of 1.35 and a beta of 1.12. The firm has a fifty day moving average of $153.56 and a 200 day moving average of $151.16. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. Chevron Co. has a one year low of $135.37 and a one year high of $167.11.

Chevron (NYSE:CVX) last released its earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (EPS) for the quarter, topping 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 net margin of 8.44% and a return on equity of 13.15%. The company’s revenue for the quarter was down 6.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.05 earnings per share. As a group, research analysts predict that Chevron Co. will post 10.18 EPS for the current fiscal year.

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.