Chevron Sees Increased Institutional Investor Interest
A recent filing with the Securities and Exchange Commission reveals that Fielder Capital Group LLC acquired a new position in Chevron Corporation during the second quarter. The institutional investor purchased 17,364 shares of the oil and gas company's stock, valued at approximately $2,878,000.
This is not an isolated instance; other hedge funds and institutional investors have also made changes to their positions in Chevron. United Bank boosted its stake in shares of Chevron by 7.7% during the second quarter, while Schnieders Capital Management LLC increased its stake by 9.0%. BNP Paribas, on the other hand, saw a 76.4% increase in its holdings.
Institutional investors and hedge funds own approximately 72.42% of Chevron's stock. Analysts have been upbeat about the company, with Sanford C. Bernstein raising their price objective to $209.00 and giving the company a 'market perform' rating. Mizuho set a $224.00 target for Chevron.
Insiders have sold 1,196,212 shares of Chevron's stock over the past ninety days, with CEO Michael K. Wirth selling 5,547 shares on August 5th.