Sandy Spring Bank lowered its holdings in shares of Chevron Co. (NYSE:CVX) by 3.8% in the second quarter, HoldingsChannel.com reports. The firm owned 74,093 shares of the oil and gas company’s stock after selling 2,949 shares during the period. Sandy Spring Bank’s holdings in Chevron were worth $9,368,000 as of its most recent filing with the SEC.
Other institutional investors have also bought and sold shares of the company. Live Your Vision LLC raised 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 acquired a new stake in shares of Chevron in the first quarter valued at approximately $110,000. Litman Gregory Asset Management LLC raised 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 raised 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. raised 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. Institutional investors and hedge funds own 64.60% of the company’s stock.
A number of equities research analysts have recently weighed in on the stock. Barclays lifted their price target on shares of Chevron from $145.00 to $148.00 and gave the company an “overweight” rating in a research report on Wednesday, July 11th. Credit Suisse Group set a $132.00 price target on shares of Chevron and gave the company a “hold” rating in a research report on Sunday, July 1st. Macquarie downgraded shares of Chevron from an “outperform” rating to a “neutral” rating and set a $125.00 price target for the company. in a research report on Tuesday, July 3rd. Royal Bank of Canada reiterated a “neutral” rating and issued a $145.00 price target on shares of Chevron in a research report on Monday, July 2nd. Finally, Goldman Sachs Group reiterated a “buy” rating and issued a $141.00 price target on shares of Chevron in a research report on Tuesday, July 31st. Nine analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $137.17.
Shares of CVX opened at $118.14 on Friday. Chevron Co. has a one year low of $108.02 and a one year high of $133.88. The company has a market cap of $226.37 billion, a price-to-earnings ratio of 21.72, a PEG ratio of 2.04 and a beta of 1.07. 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 announced its quarterly earnings results on Friday, July 27th. The oil and gas company reported $1.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.09 by ($0.31). The company had revenue of $42.24 billion for the quarter, compared to analyst estimates of $46.62 billion. Chevron had a return on equity of 6.89% and a net margin of 7.87%. The firm’s quarterly revenue was up 22.5% on a year-over-year basis. During the same quarter last year, the company posted $0.77 earnings per share. On average, sell-side analysts anticipate that Chevron Co. will post 8.26 earnings per share for the current fiscal year.
In other news, insider James William Johnson sold 4,750 shares of the company’s stock in a transaction on Thursday, September 13th. The shares were sold at an average price of $116.00, for a total transaction of $551,000.00. Following the completion of the transaction, the insider now directly owns 4,750 shares in the company, valued at $551,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.38% of the stock is currently owned by corporate insiders.
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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