Great Lakes Advisors Invests Big in Chevron Amid Insider Sales
Great Lakes Advisors LLC has acquired a new stake in Chevron Corporation (NYSE:CVX), according to its most recent filing with the Securities & Exchange Commission. The firm bought approximately 110,906 shares of the oil and gas company's stock for around $18.38 million.
This is not the only change in ownership in Chevron this quarter. United Bank boosted its position in Chevron by 7.7% during the second quarter. Schnieders Capital Management LLC also raised its stake in shares of Chevron, increasing it by 9.0%. Other institutional investors have made changes to their positions as well.
Despite the recent insider sales, including CEO Michael K. Wirth selling 317,100 shares for approximately $63.6 million, the overall sentiment remains favorable. Analysts maintain a consensus 'Moderate Buy' rating and an average price target of $207.48.