IAG Wealth Partners LLC Increases Stake in Chevron Co. (NYSE:CVX)

IAG Wealth Partners LLC boosted its stake in shares of Chevron Co. (NYSE:CVX) by 4.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,374 shares of the oil and gas company’s stock after purchasing an additional 98 shares during the period. IAG Wealth Partners LLC’s holdings in Chevron were worth $350,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Ameriprise Financial Inc. lifted its position in Chevron by 3.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 17,111,051 shares of the oil and gas company’s stock worth $2,676,957,000 after acquiring an additional 501,969 shares during the period. Capital World Investors raised its stake in shares of Chevron by 3.2% in the first quarter. Capital World Investors now owns 16,009,766 shares of the oil and gas company’s stock worth $2,525,380,000 after purchasing an additional 495,879 shares during the last quarter. Legal & General Group Plc lifted its holdings in shares of Chevron by 4.9% during the second quarter. Legal & General Group Plc now owns 13,570,971 shares of the oil and gas company’s stock worth $2,122,772,000 after purchasing an additional 629,644 shares during the period. Capital International Investors increased its holdings in Chevron by 5.9% in the 1st quarter. Capital International Investors now owns 13,418,287 shares of the oil and gas company’s stock worth $2,116,600,000 after buying an additional 743,042 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in Chevron by 1.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 13,021,023 shares of the oil and gas company’s stock valued at $2,036,846,000 after acquiring an additional 126,889 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Stock Up 2.9 %

CVX stock opened at $153.07 on Monday. Chevron Co. has a 52 week low of $135.37 and a 52 week high of $167.11. 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 has a 50-day simple moving average of $146.96 and a 200-day simple moving average of $152.93. The stock has a market capitalization of $279.95 billion, a P/E ratio of 16.82, a P/E/G ratio of 3.29 and a beta of 1.09.

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

Wall Street Analyst Weigh In

CVX has been the topic of a number of research reports. Bank of America initiated coverage on shares of Chevron in a research note on Thursday, October 17th. They issued a “buy” rating and a $168.00 price objective on the stock. Sanford C. Bernstein cut Chevron from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $183.00 to $167.00 in a report on Wednesday, July 17th. Royal Bank of Canada reiterated an “outperform” rating and set a $170.00 price target on shares of Chevron in a research report on Tuesday, October 8th. Wells Fargo & Company lowered their price objective on Chevron from $196.00 to $169.00 and set an “overweight” rating on the stock in a research report on Friday, September 27th. Finally, Scotiabank dropped their price objective on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. Five research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $173.07.

Chevron Company 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.