Raymond James Trust N.A. grew its position in Chevron Co. (NYSE:CVX) by 3.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 195,396 shares of the oil and gas company’s stock after acquiring an additional 6,453 shares during the period. Raymond James Trust N.A.’s holdings in Chevron were worth $14,068,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Winslow Evans & Crocker Inc. grew its position in shares of Chevron by 2.3% in the 2nd quarter. Winslow Evans & Crocker Inc. now owns 29,423 shares of the oil and gas company’s stock valued at $2,625,000 after acquiring an additional 653 shares during the period. Horizon Investments LLC grew its position in shares of Chevron by 105.2% in the 2nd quarter. Horizon Investments LLC now owns 53,029 shares of the oil and gas company’s stock valued at $4,732,000 after acquiring an additional 27,185 shares during the period. Braun Stacey Associates Inc. grew its position in shares of Chevron by 11.3% in the 2nd quarter. Braun Stacey Associates Inc. now owns 146,455 shares of the oil and gas company’s stock valued at $13,068,000 after acquiring an additional 14,915 shares during the period. Cornerstone Wealth Management LLC grew its position in shares of Chevron by 4.0% in the 3rd quarter. Cornerstone Wealth Management LLC now owns 17,864 shares of the oil and gas company’s stock valued at $1,286,000 after acquiring an additional 686 shares during the period. Finally, Rampart Investment Management Company LLC grew its position in shares of Chevron by 11.8% in the 2nd quarter. Rampart Investment Management Company LLC now owns 15,901 shares of the oil and gas company’s stock valued at $1,419,000 after acquiring an additional 1,680 shares during the period. 64.01% of the stock is owned by institutional investors.
NYSE:CVX opened at $72.89 on Friday. The firm’s fifty day moving average is $76.82 and its 200-day moving average is $85.44. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.87 and a current ratio of 1.14. Chevron Co. has a 52 week low of $51.60 and a 52 week high of $122.94. The firm has a market cap of $136.11 billion, a P/E ratio of -15.64, a P/E/G ratio of 2,483.67 and a beta of 1.26.
Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, July 31st. The oil and gas company reported ($1.59) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.93) by ($0.66). Chevron had a negative net margin of 7.41% and a positive return on equity of 3.61%. The firm had revenue of $13.95 billion during the quarter, compared to the consensus estimate of $21.71 billion. During the same period in the prior year, the company posted $1.77 earnings per share. The company’s revenue for the quarter was down 64.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Chevron Co. will post 0.01 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 on Tuesday, August 11th. The shares were sold at an average price of $92.00, for a total value of $529,000.00. The transaction 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 research analysts have recently commented on the stock. MKM Partners assumed coverage on shares of Chevron in a research report on Thursday, September 24th. They issued a “buy” rating and a $121.00 price objective for the company. Scotia Howard Weill downgraded shares of Chevron from a “buy” rating to a “sector perform” rating and set a $121.00 target price for the company. in a report on Thursday, September 24th. BofA Securities raised shares of Chevron from a “neutral” rating to a “buy” rating and set a $96.00 target price for the company in a report on Monday, September 28th. SunTrust Banks began coverage on shares of Chevron in a report on Thursday, July 23rd. They set a “buy” rating and a $120.00 target price for the company. Finally, Raymond James lifted their target price on shares of Chevron from $95.00 to $100.00 and gave the stock an “outperform” rating in a report on Monday, July 20th. One analyst has rated the stock with a sell rating, ten have given a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Chevron presently has an average rating of “Buy” and an average target price of $107.27.
Chevron Company Profile
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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