Bedel Financial Consulting Inc. decreased its stake in Chevron Co. (NYSE:CVX) by 6.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,482 shares of the oil and gas company’s stock after selling 626 shares during the period. Bedel Financial Consulting Inc.’s holdings in Chevron were worth $846,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently modified their holdings of CVX. Sailer Financial LLC purchased a new position in Chevron during the 4th quarter valued at about $25,000. Filbrandt Wealth Management LLC purchased a new stake in Chevron in the 4th quarter worth $25,000. Corbenic Partners LLC increased its stake in Chevron by 276.0% in the 1st quarter. Corbenic Partners LLC now owns 361 shares of the oil and gas company’s stock worth $26,000 after buying an additional 265 shares in the last quarter. Advocacy Wealth Management Services LLC increased its stake in Chevron by 84.2% in the 1st quarter. Advocacy Wealth Management Services LLC now owns 396 shares of the oil and gas company’s stock worth $27,000 after buying an additional 181 shares in the last quarter. Finally, PARK CIRCLE Co purchased a new stake in Chevron in the 1st quarter worth $36,000. 64.60% of the stock is owned by institutional investors.
A number of brokerages have issued reports on CVX. Craig Hallum increased their price target on Chevron from $81.00 to $100.00 and gave the stock a “buy” rating in a research note on Monday, May 4th. Independent Research lowered Chevron to a “hold” rating in a research note on Tuesday, April 14th. Raymond James cut their price target on Chevron from $125.00 to $105.00 and set an “outperform” rating for the company in a research note on Tuesday, March 17th. JPMorgan Chase & Co. increased their price target on Chevron from $103.00 to $109.00 and gave the stock an “overweight” rating in a research note on Monday, June 8th. Finally, Morgan Stanley reissued a “buy” rating and set a $103.00 price objective on shares of Chevron in a report on Friday, June 12th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and sixteen have assigned a buy rating to the company’s stock. Chevron has an average rating of “Buy” and an average price target of $110.64.
Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, May 1st. The oil and gas company reported $1.93 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.64 by $1.29. The business had revenue of $31.50 billion during the quarter, compared to the consensus estimate of $30.46 billion. Chevron had a net margin of 2.71% and a return on equity of 8.28%. The firm’s quarterly revenue was down 10.5% compared to the same quarter last year. During the same quarter last year, the firm earned $1.47 earnings per share. Research analysts anticipate that Chevron Co. will post 0.32 EPS for the current fiscal year.
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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