United Capital Management of KS Inc. grew its position in shares of Chevron Co. (NYSE:CVX) by 8.1% in the third quarter, according to its most recent filing with the SEC. The fund owned 15,039 shares of the oil and gas company’s stock after acquiring an additional 1,121 shares during the quarter. Chevron comprises approximately 1.2% of United Capital Management of KS Inc.’s holdings, making the stock its 28th largest holding. United Capital Management of KS Inc.’s holdings in Chevron were worth $1,703,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently bought and sold shares of CVX. Vanguard Group Inc. lifted its position in Chevron by 1.0% during the second quarter. Vanguard Group Inc. now owns 157,513,617 shares of the oil and gas company’s stock valued at $19,600,995,000 after purchasing an additional 1,572,940 shares during the last quarter. BlackRock Inc. lifted its stake in shares of Chevron by 3.5% during the second quarter. BlackRock Inc. now owns 131,522,440 shares of the oil and gas company’s stock worth $16,366,651,000 after purchasing an additional 4,401,622 shares in the last quarter. Northern Trust Corp grew its holdings in shares of Chevron by 2.8% during the second quarter. Northern Trust Corp now owns 28,068,068 shares of the oil and gas company’s stock valued at $3,492,791,000 after purchasing an additional 769,941 shares during the last quarter. Morgan Stanley grew its holdings in shares of Chevron by 7.9% during the second quarter. Morgan Stanley now owns 16,262,708 shares of the oil and gas company’s stock valued at $2,023,732,000 after purchasing an additional 1,184,133 shares during the last quarter. Finally, Nuveen Asset Management LLC grew its holdings in Chevron by 2,073.6% in the 2nd quarter. Nuveen Asset Management LLC now owns 14,886,232 shares of the oil and gas company’s stock worth $1,852,443,000 after buying an additional 14,201,379 shares in the last quarter. Hedge funds and other institutional investors own 65.64% of the company’s stock.
CVX has been the subject of a number of recent research reports. Morgan Stanley cut their price objective on Chevron from $146.00 to $144.00 and set an “overweight” rating for the company in a research report on Friday, July 12th. Cowen set a $140.00 target price on shares of Chevron and gave the stock a “buy” rating in a research report on Friday, August 30th. Barclays initiated coverage on shares of Chevron in a research report on Monday, August 19th. They set an “overweight” rating and a $145.00 target price on the stock. Independent Research set a $127.00 target price on shares of Chevron and gave the stock a “neutral” rating in a research report on Thursday, August 29th. Finally, ValuEngine raised shares of Chevron from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Five analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $137.47.
Shares of CVX traded up $0.05 during mid-day trading on Tuesday, reaching $116.23. The company’s stock had a trading volume of 281,920 shares, compared to its average volume of 6,308,570. The business has a fifty day moving average of $118.44 and a 200 day moving average of $120.64. The company has a market cap of $220.50 billion, a price-to-earnings ratio of 14.09, a price-to-earnings-growth ratio of 4.30 and a beta of 0.99. Chevron Co. has a 1 year low of $100.22 and a 1 year high of $127.34. The company has a quick ratio of 0.91, a current ratio of 1.15 and a debt-to-equity ratio of 0.16.
Chevron (NYSE:CVX) last released its earnings results on Friday, August 2nd. The oil and gas company reported $2.27 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.74 by $0.53. The company had revenue of $38.85 billion during the quarter, compared to analyst estimates of $40.14 billion. Chevron had a return on equity of 9.58% and a net margin of 9.18%. The company’s revenue for the quarter was down 8.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.78 earnings per share. On average, analysts predict that Chevron Co. will post 6.75 earnings per share for the current year.
In other Chevron news, CEO Michael K. Wirth sold 33,750 shares of the firm’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $125.00, for a total transaction of $4,218,750.00. Following the completion of the transaction, the chief executive officer now owns 33,750 shares in the company, valued at $4,218,750. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Joseph C. Geagea sold 15,000 shares of the firm’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $116.98, for a total transaction of $1,754,700.00. Following the transaction, the executive vice president now owns 6,243 shares of the company’s stock, valued at approximately $730,306.14. The disclosure for this sale can be found here. Insiders have sold 86,750 shares of company stock worth $10,648,200 over the last three months. Company insiders own 0.31% of the company’s stock.
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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