First Manhattan Co. lessened its holdings in shares of Chevron Co. (NYSE:CVX) by 2.3% in the second quarter, according to its most recent filing with the SEC. The firm owned 39,450 shares of the oil and gas company’s stock after selling 942 shares during the quarter. First Manhattan Co.’s holdings in Chevron were worth $4,987,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in CVX. Reilly Herbert Faulkner III raised its stake in shares of Chevron by 4.5% in the 1st quarter. Reilly Herbert Faulkner III now owns 30,697 shares of the oil and gas company’s stock worth $3,501,000 after buying an additional 1,334 shares in the last quarter. Fiera Capital Corp raised its stake in shares of Chevron by 1.6% in the 1st quarter. Fiera Capital Corp now owns 298,283 shares of the oil and gas company’s stock worth $34,016,000 after buying an additional 4,800 shares in the last quarter. AMG National Trust Bank raised its stake in shares of Chevron by 19.6% in the 2nd quarter. AMG National Trust Bank now owns 6,354 shares of the oil and gas company’s stock worth $803,000 after buying an additional 1,041 shares in the last quarter. Mycio Wealth Partners LLC raised its stake in shares of Chevron by 16.8% in the 2nd quarter. Mycio Wealth Partners LLC now owns 9,795 shares of the oil and gas company’s stock worth $1,238,000 after buying an additional 1,412 shares in the last quarter. Finally, North Star Investment Management Corp. raised its stake in shares of Chevron by 12.6% in the 2nd quarter. North Star Investment Management Corp. now owns 21,054 shares of the oil and gas company’s stock worth $2,662,000 after buying an additional 2,358 shares in the last quarter. Institutional investors own 64.82% of the company’s stock.
A number of analysts have recently commented on CVX shares. Goldman Sachs Group raised Chevron from a “buy” rating to a “conviction-buy” rating in a research note on Tuesday, October 2nd. Royal Bank of Canada set a $150.00 price objective on Chevron and gave the stock a “hold” rating in a research note on Thursday, September 20th. Bank of America downgraded Chevron from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $150.00 to $135.00 in a research note on Thursday, September 6th. Raymond James raised Chevron from a “market perform” rating to an “outperform” rating in a research note on Monday, June 18th. Finally, HSBC raised Chevron from a “hold” rating to a “buy” rating in a research note on Tuesday, September 11th. Nine equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Chevron currently has a consensus rating of “Buy” and a consensus price target of $136.83.
In other news, insider James William Johnson sold 4,750 shares of the business’s stock in a transaction on Thursday, September 13th. The stock was sold at an average price of $116.00, for a total transaction of $551,000.00. Following the sale, the insider now directly owns 4,750 shares of the company’s stock, valued at $551,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.46% of the stock is owned by insiders.
Shares of Chevron stock opened at $117.77 on Friday. The firm has a market cap of $234.31 billion, a PE ratio of 31.83, a P/E/G ratio of 2.14 and a beta of 1.07. The company has a current ratio of 1.08, a quick ratio of 0.87 and a debt-to-equity ratio of 0.20. Chevron Co. has a 12-month low of $108.02 and a 12-month high of $133.88.
Chevron (NYSE:CVX) last announced its earnings results on Friday, July 27th. The oil and gas company reported $1.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.09 by ($0.31). The company had revenue of $42.24 billion for the quarter, compared to analyst estimates of $46.62 billion. Chevron had a return on equity of 6.89% and a net margin of 7.87%. The firm’s revenue for the quarter was up 22.5% on a year-over-year basis. During the same period last year, the firm earned $0.77 earnings per share. Equities research analysts predict that Chevron Co. will post 8.17 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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