Integrated Investment Consultants LLC cut its stake in shares of Chevron Co. (NYSE:CVX) by 33.6% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 5,033 shares of the oil and gas company’s stock after selling 2,546 shares during the period. Integrated Investment Consultants LLC’s holdings in Chevron were worth $636,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors also recently modified their holdings of the company. Live Your Vision LLC increased its position in shares of Chevron by 308.0% in the second quarter. Live Your Vision LLC now owns 816 shares of the oil and gas company’s stock valued at $101,000 after buying an additional 616 shares in the last quarter. Advisors Preferred LLC purchased a new position in shares of Chevron in the first quarter valued at $110,000. Litman Gregory Asset Management LLC increased its position in shares of Chevron by 566.9% in the first quarter. Litman Gregory Asset Management LLC now owns 1,147 shares of the oil and gas company’s stock valued at $131,000 after buying an additional 975 shares in the last quarter. Point72 Asia Hong Kong Ltd increased its position in shares of Chevron by 20,716.7% in the first quarter. Point72 Asia Hong Kong Ltd now owns 1,249 shares of the oil and gas company’s stock valued at $142,000 after buying an additional 1,243 shares in the last quarter. Finally, Shine Investment Advisory Services Inc. increased its position in shares of Chevron by 45.4% in the second quarter. Shine Investment Advisory Services Inc. now owns 1,479 shares of the oil and gas company’s stock valued at $187,000 after buying an additional 462 shares in the last quarter. 64.82% of the stock is owned by hedge funds and other institutional investors.
Chevron stock opened at $117.77 on Friday. The stock has a market cap of $234.31 billion, a P/E ratio of 31.83, a P/E/G ratio of 2.14 and a beta of 1.07. Chevron Co. has a 52 week low of $108.02 and a 52 week high of $133.88. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.08 and a quick ratio of 0.87.
Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, July 27th. The oil and gas company reported $1.78 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 analysts’ expectations of $46.62 billion. Chevron had a return on equity of 6.89% and a net margin of 7.87%. The company’s revenue for the quarter was up 22.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.77 EPS. As a group, sell-side analysts forecast that Chevron Co. will post 8.17 earnings per share for the current year.
In related news, insider James William Johnson sold 4,750 shares of Chevron stock in a transaction dated Thursday, September 13th. The stock was sold at an average price of $116.00, for a total transaction of $551,000.00. Following the completion of the sale, the insider now owns 4,750 shares in the company, valued at approximately $551,000. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.46% of the company’s stock.
A number of research analysts have recently weighed in on the company. Redburn Partners cut Chevron from a “buy” rating to a “neutral” rating and dropped their price target for the company from $130.00 to $115.00 in a research report on Wednesday, October 3rd. Goldman Sachs Group upgraded Chevron from a “buy” rating to a “conviction-buy” rating in a research report on Tuesday, October 2nd. Zacks Investment Research upgraded Chevron from a “hold” rating to a “buy” rating and set a $137.00 price target for the company in a research report on Monday, October 1st. Royal Bank of Canada set a $150.00 price target on Chevron and gave the company a “hold” rating in a research report on Thursday, September 20th. Finally, HSBC upgraded Chevron from a “hold” rating to a “buy” rating in a research report 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 given a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $136.83.
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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