Hoylecohen LLC reduced its holdings in shares of Chevron Co. (NYSE:CVX) by 1.7% in the second quarter, HoldingsChannel.com reports. The fund owned 94,783 shares of the oil and gas company’s stock after selling 1,647 shares during the quarter. Chevron accounts for 2.4% of Hoylecohen LLC’s holdings, making the stock its 8th biggest position. Hoylecohen LLC’s holdings in Chevron were worth $11,983,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also modified their holdings of CVX. HC Financial Advisors Inc. acquired a new position in shares of Chevron during the 4th quarter valued at about $565,000. Zeke Capital Advisors LLC lifted its position in Chevron by 36.1% in the first quarter. Zeke Capital Advisors LLC now owns 58,201 shares of the oil and gas company’s stock valued at $6,637,000 after buying an additional 15,439 shares during the last quarter. Mackay Shields LLC acquired a new position in Chevron in the first quarter valued at about $89,444,000. Advisor Partners LLC lifted its position in Chevron by 7.4% in the first quarter. Advisor Partners LLC now owns 52,362 shares of the oil and gas company’s stock valued at $5,971,000 after buying an additional 3,620 shares during the last quarter. Finally, Exchange Capital Management Inc. lifted its position in Chevron by 10.4% in the first quarter. Exchange Capital Management Inc. now owns 6,988 shares of the oil and gas company’s stock valued at $797,000 after buying an additional 658 shares during the last quarter. Hedge funds and other institutional investors own 64.66% of the company’s stock.
A number of research analysts have commented on CVX shares. Goldman Sachs Group reaffirmed a “buy” rating and issued a $141.00 target price on shares of Chevron in a research report on Tuesday, July 31st. HSBC raised shares of Chevron from a “hold” rating to a “buy” rating in a research report on Tuesday, September 11th. Zacks Investment Research cut shares of Chevron from a “buy” rating to a “hold” rating in a research report on Monday, July 23rd. Piper Jaffray Companies reaffirmed an “overweight” rating on shares of Chevron in a research report on Tuesday, October 23rd. Finally, Royal Bank of Canada reaffirmed a “neutral” rating and issued a $145.00 target price on shares of Chevron in a research report on Monday, July 2nd. Nine analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $137.17.
Shares of CVX opened at $111.53 on Friday. The stock has a market cap of $213.80 billion, a PE ratio of 30.14, a price-to-earnings-growth ratio of 1.95 and a beta of 1.07. Chevron Co. has a 1 year low of $108.02 and a 1 year 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 results on Friday, July 27th. The oil and gas company reported $1.78 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.09 by ($0.31). The business had revenue of $42.24 billion for the quarter, compared to analyst estimates of $46.62 billion. Chevron had a return on equity of 6.89% and a net margin of 7.87%. The firm’s revenue for the quarter was up 22.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.77 EPS. As a group, analysts predict that Chevron Co. will post 8.16 EPS for the current year.
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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