Cigna Investments Inc. New Sells 315 Shares of Chevron Co. (NYSE:CVX)

Cigna Investments Inc. New reduced its stake in Chevron Co. (NYSE:CVX) by 1.7% during the third quarter, HoldingsChannel.com reports. The firm owned 17,801 shares of the oil and gas company’s stock after selling 315 shares during the quarter. Cigna Investments Inc. New’s holdings in Chevron were worth $2,622,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Anfield Capital Management LLC raised its stake in Chevron by 118.0% during the 2nd quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock valued at $34,000 after buying an additional 118 shares during the last quarter. Cyrus J. Lawrence LLC boosted its position in shares of Chevron by 66.7% during the second quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock worth $39,000 after acquiring an additional 100 shares during the last quarter. Krane Funds Advisors LLC purchased a new stake in shares of Chevron in the third quarter worth about $47,000. Livelsberger Financial Advisory purchased a new position in shares of Chevron in the third quarter valued at $47,000. Finally, MFA Wealth Advisors LLC bought a new stake in shares of Chevron in the 2nd quarter worth about $59,000. 72.42% of the stock is owned by institutional investors.

Chevron Stock Performance

NYSE:CVX opened at $148.80 on Friday. The company has a market cap of $272.14 billion, a P/E ratio of 14.73, a P/E/G ratio of 3.27 and a beta of 1.09. The company has a quick ratio of 0.85, a current ratio of 1.16 and a debt-to-equity ratio of 0.13. The firm’s 50 day moving average is $146.85 and its two-hundred day moving average is $153.01. Chevron Co. has a fifty-two week low of $135.37 and a fifty-two week high of $167.11.

Chevron (NYSE:CVX) last issued its earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share for the quarter, missing the consensus estimate of $2.93 by ($0.38). Chevron had a return on equity of 13.70% and a net margin of 9.31%. The company had revenue of $51.18 billion during the quarter, compared to analysts’ expectations of $48.68 billion. During the same period in the previous year, the company earned $3.08 EPS. Chevron’s quarterly revenue was up 4.7% on a year-over-year basis. Analysts expect that Chevron Co. will post 10.74 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on CVX shares. Mizuho cut their price target on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a report on Monday, September 16th. Royal Bank of Canada reissued an “outperform” rating and issued a $170.00 price objective on shares of Chevron in a research note on Tuesday, October 8th. UBS Group increased their target price on shares of Chevron from $189.00 to $192.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Barclays cut their price objective on shares of Chevron from $185.00 to $168.00 and set an “overweight” rating on the stock in a report on Thursday, October 3rd. Finally, Bank of America assumed coverage on Chevron in a research note on Thursday, October 17th. They set a “buy” rating and a $168.00 price target on the stock. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, Chevron presently has an average rating of “Moderate Buy” and a consensus price target of $173.07.

Chevron Profile

Chevron Corporation, through its subsidiaries, engages in the integrated energy and chemicals operations in the United States and internationally. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, production, and transportation of crude oil and natural gas; processing, liquefaction, transportation, and regasification of liquefied natural gas; transportation of crude oil through pipelines; transportation, storage, and marketing of natural gas; and carbon capture and storage, as well as a gas-to-liquids plant.