Calamos Wealth Management LLC Purchases 15,189 Shares of Chevron Co. (NYSE:CVX)

Calamos Wealth Management LLC increased its position in Chevron Co. (NYSE:CVX) by 25.1% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 75,630 shares of the oil and gas company’s stock after buying an additional 15,189 shares during the period. Calamos Wealth Management LLC’s holdings in Chevron were worth $5,445,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of CVX. Selective Wealth Management Inc. bought a new position in shares of Chevron during the 2nd quarter valued at about $25,000. Demars Financial Group LLC bought a new position in shares of Chevron in the 2nd quarter valued at about $32,000. Marshall & Sullivan Inc. WA bought a new position in shares of Chevron in the 2nd quarter valued at about $36,000. Asset Advisors Investment Management LLC bought a new position in shares of Chevron in the 2nd quarter valued at about $36,000. Finally, Watson Rebecca bought a new position in shares of Chevron in the 2nd quarter valued at about $39,000. 64.01% of the stock is owned by institutional investors.

NYSE:CVX traded down $1.43 on Tuesday, hitting $69.51. The stock had a trading volume of 13,716,463 shares, compared to its average volume of 11,161,404. 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 stock has a market cap of $129.80 billion, a price-to-earnings ratio of -14.92 and a beta of 1.26. The company has a fifty day moving average price of $74.31 and a two-hundred day moving average price of $85.26. Chevron Co. has a 1-year low of $51.60 and a 1-year high of $122.94.

Chevron (NYSE:CVX) last posted its earnings results on Friday, July 31st. The oil and gas company reported ($1.59) earnings per share for the quarter, missing the consensus estimate of ($0.93) by ($0.66). The firm had revenue of $13.95 billion during the quarter, compared to analyst estimates of $21.71 billion. Chevron had a negative net margin of 7.41% and a positive return on equity of 3.61%. The business’s revenue for the quarter was down 64.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.77 earnings per share. As a group, analysts anticipate 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 the company’s 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 document filed with the SEC, which is available through this link. Corporate insiders own 0.28% of the company’s stock.

A number of brokerages recently commented on CVX. Credit Suisse Group reaffirmed an “outperform” rating and issued a $97.00 price target on shares of Chevron in a report on Tuesday, October 20th. MKM Partners assumed coverage on shares of Chevron in a report on Thursday, September 24th. They issued a “buy” rating and a $121.00 price target for the company. Scotiabank lowered shares of Chevron from a “sector outperform” rating to a “sector perform” rating and set a $95.00 price objective on the stock. in a research report on Wednesday, September 23rd. Jefferies Financial Group reissued a “buy” rating and issued a $108.00 price objective on shares of Chevron in a research report on Tuesday, August 11th. Finally, Truist Securiti reduced their price objective on shares of Chevron from $113.00 to $112.00 and set a “buy” rating on the stock in a research report on Friday, October 9th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price 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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