Synovus Financial Corp boosted its stake in shares of Chevron Co. (NYSE:CVX) by 3.7% in the 2nd quarter, Holdings Channel reports. The firm owned 202,527 shares of the oil and gas company’s stock after buying an additional 7,200 shares during the quarter. Synovus Financial Corp’s holdings in Chevron were worth $25,622,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also made changes to their positions in the company. Live Your Vision LLC raised its stake in shares of Chevron by 308.0% in the 2nd quarter. Live Your Vision LLC now owns 816 shares of the oil and gas company’s stock valued at $101,000 after buying an additional 616 shares in the last quarter. Advisors Preferred LLC bought a new stake in shares of Chevron in the 1st quarter worth about $110,000. Litman Gregory Asset Management LLC grew its holdings in shares of Chevron by 566.9% in the 1st quarter. Litman Gregory Asset Management LLC now owns 1,147 shares of the oil and gas company’s stock worth $131,000 after purchasing an additional 975 shares during the last quarter. Point72 Asia Hong Kong Ltd grew its holdings in shares of Chevron by 20,716.7% in the 1st quarter. Point72 Asia Hong Kong Ltd now owns 1,249 shares of the oil and gas company’s stock worth $142,000 after purchasing an additional 1,243 shares during the last quarter. Finally, First National Bank of Hutchinson bought a new stake in shares of Chevron in the 2nd quarter worth about $200,000. Institutional investors own 64.82% of the company’s stock.
Shares of NYSE:CVX opened at $117.77 on Friday. Chevron Co. has a 12 month low of $108.02 and a 12 month 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. The stock has a market cap of $234.31 billion, a price-to-earnings ratio of 31.83, a P/E/G ratio of 2.14 and a beta of 1.07.
Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, July 27th. The oil and gas company reported $1.78 EPS for the quarter, missing analysts’ consensus estimates of $2.09 by ($0.31). Chevron had a return on equity of 6.89% and a net margin of 7.87%. The company had revenue of $42.24 billion for the quarter, compared to the consensus estimate of $46.62 billion. During the same period in the prior year, the company earned $0.77 EPS. The firm’s revenue was up 22.5% compared to the same quarter last year. Analysts expect that Chevron Co. will post 8.17 earnings per share for the current fiscal year.
In other Chevron news, insider James William Johnson sold 4,750 shares of the stock in a transaction dated Thursday, September 13th. The shares were sold at an average price of $116.00, for a total transaction of $551,000.00. Following the sale, the insider now owns 4,750 shares of the company’s stock, valued at approximately $551,000. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.46% of the stock is owned by corporate insiders.
Several equities research analysts have recently weighed in on the stock. Barclays upped their target price on shares of Chevron from $145.00 to $148.00 and gave the stock an “overweight” rating in a report on Wednesday, July 11th. Royal Bank of Canada set a $150.00 target price on shares of Chevron and gave the stock a “hold” rating in a report on Thursday, September 20th. Berenberg Bank assumed coverage on shares of Chevron in a report on Tuesday, September 11th. They issued a “hold” rating and a $135.00 target price on the stock. Bank of America lowered shares of Chevron from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $150.00 to $135.00 in a report on Thursday, September 6th. Finally, Macquarie lowered shares of Chevron from an “outperform” rating to a “neutral” rating and set a $125.00 target price on the stock. in a report on Tuesday, July 3rd. Nine analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. Chevron has an average rating of “Buy” and an average target price of $136.83.
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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