Raymond James Trust N.A. grew its stake in Chevron Co. (NYSE:CVX) by 1.9% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 154,049 shares of the oil and gas company’s stock after buying an additional 2,882 shares during the quarter. Chevron comprises 1.3% of Raymond James Trust N.A.’s portfolio, making the stock its 11th largest holding. Raymond James Trust N.A.’s holdings in Chevron were worth $19,285,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Chevron by 2.9% in the 2nd quarter. Vanguard Group Inc. now owns 139,626,287 shares of the oil and gas company’s stock valued at $14,567,210,000 after buying an additional 3,920,240 shares during the period. BlackRock Inc. boosted its stake in shares of Chevron by 1.6% in the 2nd quarter. BlackRock Inc. now owns 124,678,992 shares of the oil and gas company’s stock valued at $13,007,759,000 after buying an additional 1,975,865 shares during the period. Capital World Investors boosted its stake in shares of Chevron by 9.8% in the 2nd quarter. Capital World Investors now owns 35,546,848 shares of the oil and gas company’s stock valued at $3,708,603,000 after buying an additional 3,182,250 shares during the period. Northern Trust Corp boosted its stake in shares of Chevron by 0.6% in the 2nd quarter. Northern Trust Corp now owns 26,153,161 shares of the oil and gas company’s stock valued at $2,728,558,000 after buying an additional 157,021 shares during the period. Finally, Franklin Resources Inc. boosted its stake in shares of Chevron by 0.3% in the 2nd quarter. Franklin Resources Inc. now owns 15,609,647 shares of the oil and gas company’s stock valued at $1,628,554,000 after buying an additional 49,083 shares during the period. Institutional investors and hedge funds own 64.97% of the company’s stock.
Several equities analysts have recently issued reports on CVX shares. Vetr cut Chevron from a “strong-buy” rating to a “buy” rating and set a $122.05 price objective for the company. in a research note on Monday, February 26th. Wells Fargo decreased their price objective on Chevron from $125.00 to $125.00 and set an “outperform” rating for the company in a research note on Monday, February 5th. Bank of America lowered Chevron from a “buy” rating to a “neutral” rating and set a $125.00 target price on the stock. in a research report on Thursday, January 4th. They noted that the move was a valuation call. HSBC lowered Chevron from a “buy” rating to a “hold” rating in a research report on Thursday, January 18th. Finally, Societe Generale raised Chevron from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nineteen have issued a buy rating to the stock. Chevron currently has an average rating of “Buy” and a consensus price target of $131.64.
In other Chevron news, VP R. Hewitt Pate sold 25,500 shares of Chevron stock in a transaction that occurred on Tuesday, April 17th. The stock was sold at an average price of $121.97, for a total transaction of $3,110,235.00. Following the transaction, the vice president now owns 25,500 shares of the company’s stock, valued at $3,110,235. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.38% of the company’s stock.
CVX opened at $122.31 on Friday. The company has a market cap of $236,527.53, a price-to-earnings ratio of 33.06, a PEG ratio of 2.40 and a beta of 1.16. Chevron Co. has a 52 week low of $102.55 and a 52 week high of $133.88. The company has a current ratio of 1.03, a quick ratio of 0.83 and a debt-to-equity ratio of 0.22.
Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, February 2nd. The oil and gas company reported $0.73 EPS for the quarter, missing the consensus estimate of $1.27 by ($0.54). The firm had revenue of $37.62 billion for the quarter, compared to analyst estimates of $38.43 billion. Chevron had a return on equity of 5.22% and a net margin of 6.49%. The company’s quarterly revenue was up 19.4% on a year-over-year basis. During the same period last year, the firm earned $0.22 EPS. equities analysts predict that Chevron Co. will post 6.45 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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