AdvisorNet Financial Inc raised its stake in shares of Chevron Co. (NYSE:CVX) by 21.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,723 shares of the oil and gas company’s stock after acquiring an additional 3,521 shares during the period. AdvisorNet Financial Inc’s holdings in Chevron were worth $2,339,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of the business. Guidant Wealth Advisors increased its position in shares of Chevron by 63.9% during the 2nd quarter. Guidant Wealth Advisors now owns 259 shares of the oil and gas company’s stock valued at $32,000 after purchasing an additional 101 shares during the last quarter. Evolution Wealth Advisors LLC purchased a new stake in shares of Chevron during the 2nd quarter valued at $34,000. Transamerica Financial Advisors Inc. purchased a new stake in shares of Chevron during the 2nd quarter valued at $46,000. Cordasco Financial Network increased its position in shares of Chevron by 55.3% during the 2nd quarter. Cordasco Financial Network now owns 379 shares of the oil and gas company’s stock valued at $47,000 after purchasing an additional 135 shares during the last quarter. Finally, CKW Financial Group increased its position in shares of Chevron by 154.0% during the 2nd quarter. CKW Financial Group now owns 414 shares of the oil and gas company’s stock valued at $51,000 after purchasing an additional 251 shares during the last quarter. Institutional investors and hedge funds own 65.62% of the company’s stock.
CVX has been the subject of several research analyst reports. BMO Capital Markets initiated coverage on Chevron in a research report on Tuesday, August 20th. They set an “outperform” rating and a $165.00 target price for the company. Cowen set a $140.00 target price on Chevron and gave the company a “buy” rating in a research report on Tuesday, October 15th. Morgan Stanley decreased their target price on Chevron from $146.00 to $144.00 and set an “overweight” rating for the company in a research report on Friday, July 12th. ValuEngine raised Chevron from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Finally, Barclays initiated coverage on Chevron in a research report on Monday, August 19th. They set an “overweight” rating and a $145.00 target price for the company. Five research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $137.47.
Shares of CVX opened at $117.58 on Friday. The company has a market cap of $223.63 billion, a PE ratio of 14.25, a price-to-earnings-growth ratio of 3.19 and a beta of 0.99. The company has a current ratio of 1.15, a quick ratio of 0.91 and a debt-to-equity ratio of 0.16. The stock has a 50-day moving average price of $118.34 and a 200-day moving average price of $120.25. Chevron Co. has a 12-month low of $100.22 and a 12-month high of $127.34.
Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.27 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.74 by $0.53. The firm had revenue of $38.85 billion during the quarter, compared to the consensus estimate of $40.14 billion. Chevron had a return on equity of 9.58% and a net margin of 9.18%. The company’s revenue for the quarter was down 8.0% on a year-over-year basis. During the same quarter last year, the company posted $1.78 EPS. As a group, analysts predict that Chevron Co. will post 6.16 earnings per share 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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