Baker Avenue Asset Management LP Buys 887 Shares of Chevron Corporation (NYSE:CVX)

Baker Avenue Asset Management LP lifted its holdings in shares of Chevron Corporation (NYSE:CVX) by 3.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,842 shares of the oil and gas company’s stock after buying an additional 887 shares during the quarter. Baker Avenue Asset Management LP’s holdings in Chevron were worth $4,992,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Harvest Fund Management Co. Ltd boosted its holdings in Chevron by 420.7% in the 1st quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company’s stock worth $25,000 after buying an additional 122 shares during the period. 10Elms LLP bought a new position in Chevron in the 4th quarter worth approximately $29,000. IFS Advisors LLC lifted its stake in Chevron by 119.6% in the 1st quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company’s stock worth $36,000 after purchasing an additional 116 shares in the last quarter. Navigoe LLC purchased a new stake in Chevron in the 4th quarter worth approximately $33,000. Finally, Cloud Capital Management LLC purchased a new stake in Chevron in the 1st quarter worth approximately $39,000. 72.42% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on CVX shares. UBS Group lowered their target price on shares of Chevron from $194.00 to $185.00 and set a “buy” rating on the stock in a research note on Monday, April 7th. Scotiabank reiterated a “sector perform” rating and issued a $160.00 target price (up from $143.00) on shares of Chevron in a research note on Friday, July 11th. Jefferies Financial Group reiterated a “buy” rating on shares of Chevron in a research note on Friday, July 18th. Mizuho lowered their target price on shares of Chevron from $188.00 to $186.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 13th. Finally, Hsbc Global Res cut shares of Chevron from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 13th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Chevron has an average rating of “Hold” and a consensus price target of $163.18.

Chevron Price Performance

Shares of NYSE:CVX opened at $151.33 on Friday. The stock has a market cap of $264.28 billion, a PE ratio of 17.29, a PEG ratio of 2.39 and a beta of 0.87. The company’s fifty day moving average is $146.86 and its 200 day moving average is $148.87. Chevron Corporation has a 52 week low of $132.04 and a 52 week high of $168.96. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.17.

Chevron (NYSE:CVX) last issued its earnings results on Friday, August 1st. The oil and gas company reported $1.77 EPS for the quarter, topping analysts’ consensus estimates of $1.58 by $0.19. The company had revenue of $44.82 billion for the quarter, compared to analysts’ expectations of $44.59 billion. Chevron had a net margin of 7.76% and a return on equity of 10.73%. The firm’s revenue was down 12.4% compared to the same quarter last year. During the same quarter last year, the company earned $2.55 EPS. Research analysts anticipate that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Profile

Chevron Corporation, through its subsidiaries, engages in the integrated energy and chemicals operations in the United States and internationally. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, production, and transportation of crude oil and natural gas; processing, liquefaction, transportation, and regasification of liquefied natural gas; transportation of crude oil through pipelines; transportation, storage, and marketing of natural gas; and carbon capture and storage, as well as a gas-to-liquids plant.