Raymond James Trust N.A. increased its holdings in Chevron Co. (NYSE:CVX) by 3.4% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 195,396 shares of the oil and gas company’s stock after purchasing an additional 6,453 shares during the period. Raymond James Trust N.A.’s holdings in Chevron were worth $14,068,000 at the end of the most recent quarter.
A number of other large investors have also bought and sold shares of the stock. Norway Savings Bank raised its position in Chevron by 0.9% in the third quarter. Norway Savings Bank now owns 19,471 shares of the oil and gas company’s stock worth $1,402,000 after purchasing an additional 176 shares in the last quarter. TRH Financial LLC raised its position in Chevron by 28.4% in the third quarter. TRH Financial LLC now owns 21,686 shares of the oil and gas company’s stock worth $1,561,000 after purchasing an additional 4,792 shares in the last quarter. Nachman Norwood & Parrott Inc raised its position in Chevron by 38.2% in the third quarter. Nachman Norwood & Parrott Inc now owns 42,728 shares of the oil and gas company’s stock worth $3,076,000 after purchasing an additional 11,816 shares in the last quarter. BTC Capital Management Inc. raised its position in Chevron by 6.8% in the third quarter. BTC Capital Management Inc. now owns 108,678 shares of the oil and gas company’s stock worth $7,822,000 after purchasing an additional 6,893 shares in the last quarter. Finally, Investors Financial Group LLC raised its position in Chevron by 63.6% in the third quarter. Investors Financial Group LLC now owns 4,171 shares of the oil and gas company’s stock worth $300,000 after purchasing an additional 1,622 shares in the last quarter. 64.01% of the stock is owned by hedge funds and other institutional investors.
CVX opened at $72.89 on Friday. Chevron Co. has a one year low of $51.60 and a one year high of $122.94. The stock has a market capitalization of $136.11 billion, a P/E ratio of -15.64, a price-to-earnings-growth ratio of 2,483.67 and a beta of 1.26. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.14 and a quick ratio of 0.87. The company’s 50 day simple moving average is $76.82 and its 200-day simple moving average is $85.44.
Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, July 31st. The oil and gas company reported ($1.59) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.93) by ($0.66). Chevron had a negative net margin of 7.41% and a positive return on equity of 3.61%. The business had revenue of $13.95 billion during the quarter, compared to the consensus estimate of $21.71 billion. During the same period in the previous year, the business posted $1.77 earnings per share. Chevron’s revenue was down 64.1% compared to the same quarter last year. As a group, analysts anticipate that Chevron Co. will post 0.01 EPS for the current year.
In other Chevron news, insider David A. Inchausti sold 5,750 shares of Chevron stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $92.00, for a total value of $529,000.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.28% of the stock is currently owned by insiders.
CVX has been the subject of several recent research reports. Raymond James increased their price target on shares of Chevron from $95.00 to $100.00 and gave the stock an “outperform” rating in a research report on Monday, July 20th. Truist Securiti decreased their price objective on shares of Chevron from $113.00 to $112.00 and set a “buy” rating on the stock in a research note on Friday, October 9th. Bank of America raised shares of Chevron from a “neutral” rating to a “buy” rating and set a $96.00 price objective on the stock in a research note on Monday, September 28th. Jefferies Financial Group reaffirmed a “buy” rating and set a $108.00 price objective on shares of Chevron in a research note on Tuesday, August 11th. Finally, SunTrust Banks initiated coverage on shares of Chevron in a research note on Thursday, July 23rd. They set a “buy” rating and a $120.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $107.27.
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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