Chevron Co. (CVX) Position Raised by Oakworth Capital Inc.

Oakworth Capital Inc. increased its position in shares of Chevron Co. (NYSE:CVX) by 4.7% during the 3rd quarter, HoldingsChannel reports. The firm owned 14,101 shares of the oil and gas company’s stock after buying an additional 636 shares during the quarter. Oakworth Capital Inc.’s holdings in Chevron were worth $1,724,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Charles Schwab Investment Advisory Inc. bought a new position in shares of Chevron in the second quarter valued at $413,622,000. Standard Life Aberdeen plc increased its holdings in shares of Chevron by 78.9% in the second quarter. Standard Life Aberdeen plc now owns 6,790,689 shares of the oil and gas company’s stock valued at $858,547,000 after buying an additional 2,994,612 shares in the last quarter. Cornerstone Wealth Management LLC increased its holdings in shares of Chevron by 12,404.4% in the second quarter. Cornerstone Wealth Management LLC now owns 1,938,051 shares of the oil and gas company’s stock valued at $15,598,000 after buying an additional 1,922,552 shares in the last quarter. Millennium Management LLC increased its holdings in shares of Chevron by 478.5% in the second quarter. Millennium Management LLC now owns 2,015,778 shares of the oil and gas company’s stock valued at $254,855,000 after buying an additional 1,667,339 shares in the last quarter. Finally, PointState Capital LP bought a new position in shares of Chevron in the second quarter valued at $208,402,000. 64.59% of the stock is currently owned by hedge funds and other institutional investors.

NYSE CVX opened at $112.54 on Friday. Chevron Co. has a twelve month low of $100.22 and a twelve month high of $133.88. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.01 and a current ratio of 1.22. The company has a market cap of $216.43 billion, a price-to-earnings ratio of 30.42, a PEG ratio of 2.11 and a beta of 1.09.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, November 2nd. The oil and gas company reported $2.11 earnings per share for the quarter, topping the consensus estimate of $2.06 by $0.05. Chevron had a net margin of 8.79% and a return on equity of 8.19%. The firm had revenue of $43.99 billion for the quarter, compared to analysts’ expectations of $47.17 billion. During the same period in the previous year, the company posted $1.03 EPS. The company’s quarterly revenue was up 21.5% compared to the same quarter last year. As a group, equities analysts expect that Chevron Co. will post 7.75 earnings per share for the current year.

In other news, EVP James William Johnson sold 4,750 shares of the business’s stock in a transaction on Monday, December 3rd. The shares were sold at an average price of $120.92, for a total transaction of $574,370.00. Following the transaction, the executive vice president now directly owns 4,750 shares in the company, valued at approximately $574,370. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.46% of the company’s stock.

Several research analysts have issued reports on CVX shares. Raymond James set a $135.00 price target on Chevron and gave the company a “buy” rating in a report on Thursday, December 20th. Royal Bank of Canada reaffirmed a “hold” rating and issued a $130.00 price target on shares of Chevron in a report on Monday, January 7th. Societe Generale dropped their price target on Chevron from $150.00 to $128.00 and set a “buy” rating on the stock in a report on Wednesday, December 19th. Piper Jaffray Companies reiterated an “overweight” rating on shares of Chevron in a research report on Tuesday, October 23rd. Finally, Goldman Sachs Group upgraded shares of Chevron from a “buy” rating to a “conviction-buy” rating in a research report on Tuesday, October 2nd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Chevron presently has a consensus rating of “Buy” and a consensus target price of $135.59.

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Chevron Company Profile

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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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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