Spinnaker Trust reduced its stake in shares of Chevron Co. (NYSE:CVX) by 4.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,102 shares of the oil and gas company’s stock after selling 1,044 shares during the period. Spinnaker Trust’s holdings in Chevron were worth $2,793,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in the business. Dimensional Fund Advisors LP grew its holdings in Chevron by 4.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 13,026,526 shares of the oil and gas company’s stock worth $1,485,545,000 after acquiring an additional 549,931 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its position in shares of Chevron by 3.3% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 8,728,794 shares of the oil and gas company’s stock worth $995,432,000 after buying an additional 275,289 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC lifted its position in shares of Chevron by 0.4% in the 1st quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 7,624,550 shares of the oil and gas company’s stock worth $869,505,000 after buying an additional 31,022 shares during the last quarter. Boston Partners lifted its position in shares of Chevron by 2.4% in the 1st quarter. Boston Partners now owns 7,482,304 shares of the oil and gas company’s stock worth $853,282,000 after buying an additional 175,360 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its position in shares of Chevron by 10.3% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 6,391,206 shares of the oil and gas company’s stock worth $808,040,000 after buying an additional 594,253 shares during the last quarter. 64.60% of the stock is owned by institutional investors.
A number of research analysts have recently issued reports on CVX shares. Goldman Sachs Group upgraded shares of Chevron from a “buy” rating to a “conviction-buy” rating in a research report on Tuesday, October 2nd. Royal Bank of Canada set a $150.00 price target on shares of Chevron and gave the stock a “hold” rating in a research report on Thursday, September 20th. Bank of America downgraded shares of Chevron from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $150.00 to $135.00 in a research report on Thursday, September 6th. Zacks Investment Research upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $137.00 price target on the stock in a research report on Monday, October 1st. Finally, HSBC upgraded shares of Chevron from a “hold” rating to a “buy” rating in a research report on Tuesday, September 11th. Nine equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $137.17.
Shares of NYSE:CVX opened at $117.47 on Friday. The stock has a market capitalization of $224.74 billion, a P/E ratio of 21.56, a PEG ratio of 2.04 and a beta of 1.07. Chevron Co. has a fifty-two week low of $108.02 and a fifty-two week high of $133.88. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.87 and a current ratio of 1.08.
Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, July 27th. The oil and gas company reported $1.78 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.09 by ($0.31). The firm had revenue of $42.24 billion during the quarter, compared to the consensus estimate of $46.62 billion. Chevron had a net margin of 7.87% and a return on equity of 6.89%. The company’s revenue for the quarter was up 22.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.77 earnings per share. On average, research analysts expect that Chevron Co. will post 8.23 earnings per share for the current fiscal year.
In other Chevron news, insider James William Johnson sold 4,750 shares of the firm’s stock in a transaction dated Thursday, October 11th. The shares were sold at an average price of $119.97, for a total transaction of $569,857.50. Following the transaction, the insider now owns 4,750 shares of the company’s stock, valued at approximately $569,857.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.38% of the stock is currently owned by company insiders.
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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