Synovus Financial Corp lifted its position in Chevron Co. (NYSE:CVX) by 3.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 202,527 shares of the oil and gas company’s stock after acquiring an additional 7,200 shares during the period. Synovus Financial Corp’s holdings in Chevron were worth $25,622,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in CVX. Reilly Herbert Faulkner III grew its position in Chevron by 4.5% during the first quarter. Reilly Herbert Faulkner III now owns 30,697 shares of the oil and gas company’s stock valued at $3,501,000 after purchasing an additional 1,334 shares in the last quarter. Fiera Capital Corp grew its position in Chevron by 1.6% during the first quarter. Fiera Capital Corp now owns 298,283 shares of the oil and gas company’s stock valued at $34,016,000 after purchasing an additional 4,800 shares in the last quarter. AMG National Trust Bank grew its position in Chevron by 19.6% during the second quarter. AMG National Trust Bank now owns 6,354 shares of the oil and gas company’s stock valued at $803,000 after purchasing an additional 1,041 shares in the last quarter. Mycio Wealth Partners LLC grew its position in Chevron by 16.8% during the second quarter. Mycio Wealth Partners LLC now owns 9,795 shares of the oil and gas company’s stock valued at $1,238,000 after purchasing an additional 1,412 shares in the last quarter. Finally, North Star Investment Management Corp. grew its position in Chevron by 12.6% during the second quarter. North Star Investment Management Corp. now owns 21,054 shares of the oil and gas company’s stock valued at $2,662,000 after purchasing an additional 2,358 shares in the last quarter. 64.82% of the stock is currently owned by institutional investors and hedge funds.
CVX stock opened at $117.77 on Friday. The company has a quick ratio of 0.87, a current ratio of 1.08 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $234.31 billion, a price-to-earnings ratio of 31.83, a price-to-earnings-growth ratio of 2.14 and a beta of 1.07. Chevron Co. has a 12 month low of $108.02 and a 12 month high of $133.88.
Chevron (NYSE:CVX) last posted its earnings results on Friday, July 27th. The oil and gas company reported $1.78 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.09 by ($0.31). The business had revenue of $42.24 billion during the quarter, compared to the consensus estimate of $46.62 billion. Chevron had a return on equity of 6.89% and a net margin of 7.87%. The business’s revenue was up 22.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.77 earnings per share. On average, equities research analysts predict that Chevron Co. will post 8.17 EPS for the current fiscal year.
In other Chevron news, insider James William Johnson sold 4,750 shares of the business’s stock in a transaction that occurred on Thursday, September 13th. The shares were sold at an average price of $116.00, for a total value of $551,000.00. Following the completion of the sale, the insider now directly owns 4,750 shares of the company’s stock, valued at $551,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.46% of the company’s stock.
A number of brokerages recently commented on CVX. Berenberg Bank began coverage on shares of Chevron in a research report on Tuesday, September 11th. They set a “hold” rating and a $135.00 price objective on the stock. Bank of America downgraded shares of Chevron from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $150.00 to $135.00 in a research report on Thursday, September 6th. Barclays boosted their price objective on shares of Chevron from $145.00 to $148.00 and gave the company an “overweight” rating in a research report on Wednesday, July 11th. Credit Suisse Group set a $132.00 price objective on shares of Chevron and gave the company a “hold” rating in a research report on Sunday, July 1st. Finally, Goldman Sachs Group reaffirmed a “buy” rating and set a $141.00 price objective on shares of Chevron in a research report on Tuesday, July 31st. Nine investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. Chevron has a consensus rating of “Buy” and an average price target of $136.83.
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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