World Asset Management Inc lessened its position in Chevron Co. (NYSE:CVX) by 23.1% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 88,127 shares of the oil and gas company’s stock after selling 26,418 shares during the period. Chevron makes up 0.9% of World Asset Management Inc’s investment portfolio, making the stock its 17th largest holding. World Asset Management Inc’s holdings in Chevron were worth $7,864,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in CVX. Unison Advisors LLC lifted its stake in shares of Chevron by 1.0% in the first quarter. Unison Advisors LLC now owns 11,414 shares of the oil and gas company’s stock valued at $827,000 after purchasing an additional 110 shares during the period. Nachman Norwood & Parrott Inc lifted its stake in shares of Chevron by 0.4% in the second quarter. Nachman Norwood & Parrott Inc now owns 30,912 shares of the oil and gas company’s stock valued at $2,758,000 after purchasing an additional 116 shares during the period. Vivid Financial Management Inc. lifted its stake in shares of Chevron by 1.2% in the first quarter. Vivid Financial Management Inc. now owns 9,907 shares of the oil and gas company’s stock valued at $718,000 after purchasing an additional 117 shares during the period. Schulhoff & Co. Inc. lifted its stake in shares of Chevron by 0.3% in the first quarter. Schulhoff & Co. Inc. now owns 38,957 shares of the oil and gas company’s stock valued at $2,822,000 after purchasing an additional 118 shares during the period. Finally, J. L. Bainbridge & Co. Inc. lifted its stake in shares of Chevron by 1.9% in the first quarter. J. L. Bainbridge & Co. Inc. now owns 6,192 shares of the oil and gas company’s stock valued at $449,000 after purchasing an additional 118 shares during the period. Institutional investors own 64.60% of the company’s stock.
Chevron stock opened at $90.13 on Friday. Chevron Co. has a 1 year low of $51.60 and a 1 year high of $127.00. The firm has a 50 day moving average price of $90.32 and a 200 day moving average price of $93.52. The company has a market cap of $168.27 billion, a price-to-earnings ratio of 43.97, a PEG ratio of 22.42 and a beta of 1.29. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.78 and a current ratio of 1.01.
Chevron (NYSE:CVX) last released its earnings results on Friday, May 1st. The oil and gas company reported $1.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $1.29. Chevron had a net margin of 2.71% and a return on equity of 8.28%. The firm had revenue of $31.50 billion during the quarter, compared to the consensus estimate of $30.46 billion. During the same period in the previous year, the firm earned $1.47 earnings per share. Chevron’s revenue was down 10.5% compared to the same quarter last year. Sell-side analysts predict that Chevron Co. will post 0.8 EPS for the current year.
Several analysts recently commented on CVX shares. Bank of America cut shares of Chevron from a “buy” rating to a “neutral” rating in a research note on Tuesday, June 9th. Goldman Sachs Group cut shares of Chevron from a “conviction-buy” rating to a “buy” rating in a research note on Monday, May 4th. Royal Bank of Canada downgraded shares of Chevron from a “sector perform” rating to an “underperform” rating and set a $100.00 target price for the company. in a report on Wednesday, June 10th. Credit Suisse Group raised their target price on shares of Chevron from $81.00 to $100.00 and gave the company an “outperform” rating in a report on Monday, May 4th. Finally, ValuEngine downgraded shares of Chevron from a “buy” rating to a “hold” rating in a report on Thursday, April 2nd. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $111.25.
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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