Strategic Wealth Partners Ltd. raised its stake in Chevron Co. (NYSE:CVX) by 4.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 11,930 shares of the oil and gas company’s stock after acquiring an additional 551 shares during the quarter. Strategic Wealth Partners Ltd.’s holdings in Chevron were worth $1,359,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Andesa Financial Management Inc. grew its position in shares of Chevron by 52.7% in the fourth quarter. Andesa Financial Management Inc. now owns 24,829 shares of the oil and gas company’s stock valued at $2,704,000 after purchasing an additional 8,568 shares during the period. Dowling & Yahnke LLC grew its position in shares of Chevron by 2.4% in the fourth quarter. Dowling & Yahnke LLC now owns 63,624 shares of the oil and gas company’s stock valued at $7,567,000 after purchasing an additional 1,520 shares during the period. Wealthquest Corp purchased a new stake in shares of Chevron in the fourth quarter valued at $923,000. Trust Co. of Oklahoma grew its position in shares of Chevron by 6.6% in the fourth quarter. Trust Co. of Oklahoma now owns 21,423 shares of the oil and gas company’s stock valued at $2,331,000 after purchasing an additional 1,334 shares during the period. Finally, IFM Investors Pty Ltd grew its position in shares of Chevron by 9.9% in the fourth quarter. IFM Investors Pty Ltd now owns 110,868 shares of the oil and gas company’s stock valued at $12,061,000 after purchasing an additional 9,953 shares during the period. 66.07% of the stock is owned by institutional investors.
A number of equities research analysts have issued reports on the company. Cowen reissued a “buy” rating and set a $142.00 price target on shares of Chevron in a research report on Wednesday. Citigroup boosted their price target on Chevron from $135.00 to $142.00 and gave the company a “buy” rating in a research report on Monday, April 15th. Bank of America raised Chevron from a “neutral” rating to a “buy” rating and set a $140.00 price target for the company in a research report on Friday, April 12th. Morgan Stanley assumed coverage on Chevron in a research report on Friday, April 12th. They set an “overweight” rating and a $150.00 price target for the company. Finally, Royal Bank of Canada raised Chevron to a “sector perform” rating and set a $145.00 price target for the company in a research report on Wednesday, March 6th. Seven equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $136.30.
Shares of CVX opened at $119.86 on Friday. The stock has a market cap of $227.74 billion, a price-to-earnings ratio of 14.53, a P/E/G ratio of 4.07 and a beta of 1.03. Chevron Co. has a 12 month low of $100.22 and a 12 month high of $131.08. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.04 and a current ratio of 1.25.
Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, February 1st. The oil and gas company reported $1.95 EPS for the quarter, topping the Zacks’ consensus estimate of $1.87 by $0.08. The company had revenue of $42.35 billion for the quarter, compared to analysts’ expectations of $41.46 billion. Chevron had a return on equity of 9.78% and a net margin of 8.91%. The firm’s quarterly revenue was up 12.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.64 earnings per share. As a group, equities research analysts predict that Chevron Co. will post 6.77 earnings per share for the current fiscal year.
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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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