Chickasaw Capital Management LLC increased its position in Chevron Corporation (NYSE:CVX) by 47.2% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 10,676 shares of the oil and gas company’s stock after buying an additional 3,425 shares during the period. Chickasaw Capital Management LLC’s holdings in Chevron Corporation were worth $1,146,000 at the end of the most recent quarter.
Several other large investors also recently made changes to their positions in CVX. Patriot Financial Group Insurance Agency LLC bought a new stake in shares of Chevron Corporation during the fourth quarter worth about $139,000. Americafirst Capital Management LLC bought a new stake in shares of Chevron Corporation during the first quarter worth about $140,000. Tortoise Investment Management LLC boosted its stake in shares of Chevron Corporation by 46.4% in the fourth quarter. Tortoise Investment Management LLC now owns 1,329 shares of the oil and gas company’s stock worth $156,000 after buying an additional 421 shares in the last quarter. Intellectus Partners LLC bought a new stake in shares of Chevron Corporation during the fourth quarter worth about $181,000. Finally, MML Investors Services LLC bought a new stake in shares of Chevron Corporation during the fourth quarter worth about $214,000. Institutional investors own 62.52% of the company’s stock.
Shares of Chevron Corporation (NYSE:CVX) opened at 104.21 on Tuesday. Chevron Corporation has a 12-month low of $97.53 and a 12-month high of $119.00. The stock’s 50 day moving average price is $105.41 and its 200 day moving average price is $109.94. The firm has a market capitalization of $197.43 billion, a price-to-earnings ratio of 67.62 and a beta of 1.23.
Chevron Corporation (NYSE:CVX) last posted its earnings results on Friday, April 28th. The oil and gas company reported $1.41 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.85 by $0.56. Chevron Corporation had a return on equity of 3.58% and a net margin of 2.34%. The business had revenue of $33.42 billion during the quarter, compared to analysts’ expectations of $34.05 billion. During the same period in the previous year, the business earned ($0.39) earnings per share. The firm’s revenue was up 42.0% on a year-over-year basis. Equities research analysts expect that Chevron Corporation will post $3.89 earnings per share for the current year.
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A number of brokerages have recently issued reports on CVX. Wolfe Research cut Chevron Corporation from an “outperform” rating to a “market perform” rating in a research note on Monday. Wells Fargo & Company cut Chevron Corporation to an “outperform” rating and dropped their price objective for the stock from $124.00 to $102.00 in a research note on Monday. Jefferies Group LLC set a $135.00 price objective on Chevron Corporation and gave the stock a “buy” rating in a research note on Saturday, June 24th. Royal Bank Of Canada cut Chevron Corporation from a “sector perform” rating to an “underperform” rating and dropped their price objective for the stock from $112.00 to $100.00 in a research note on Thursday, July 6th. Finally, Barclays PLC reiterated an “overweight” rating and set a $125.00 price objective (up previously from $116.00) on shares of Chevron Corporation in a research note on Wednesday, July 12th. Six research analysts have rated the stock with a sell rating, five have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. Chevron Corporation currently has a consensus rating of “Hold” and a consensus target price of $116.28.
About Chevron Corporation
Chevron Corporation (Chevron) manages its investments in subsidiaries and affiliates, and provides administrative, financial, management and technology support to the United States and international subsidiaries that engage in integrated energy and chemicals operations. The Company operates through two business segments: Upstream and Downstream.
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