Domani Wealth LLC reduced its holdings in shares of Chevron Co. (NYSE:CVX) by 3.4% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 8,885 shares of the oil and gas company’s stock after selling 315 shares during the period. Domani Wealth LLC’s holdings in Chevron were worth $793,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. lifted its stake in Chevron by 4.9% during the first quarter. BlackRock Inc. now owns 133,388,637 shares of the oil and gas company’s stock worth $9,665,343,000 after purchasing an additional 6,208,177 shares during the last quarter. State Street Corp lifted its stake in Chevron by 2.6% during the first quarter. State Street Corp now owns 117,055,351 shares of the oil and gas company’s stock worth $8,481,831,000 after purchasing an additional 2,914,316 shares during the last quarter. Capital International Investors lifted its stake in Chevron by 12.9% during the first quarter. Capital International Investors now owns 36,799,529 shares of the oil and gas company’s stock worth $2,666,493,000 after purchasing an additional 4,218,942 shares during the last quarter. Geode Capital Management LLC lifted its stake in Chevron by 1.9% during the first quarter. Geode Capital Management LLC now owns 28,195,690 shares of the oil and gas company’s stock worth $2,039,893,000 after purchasing an additional 522,767 shares during the last quarter. Finally, Norges Bank bought a new position in Chevron during the fourth quarter worth $2,565,385,000. Institutional investors own 64.60% of the company’s stock.
Shares of CVX stock opened at $90.13 on Friday. The stock has a 50-day simple moving average of $90.32 and a 200 day simple moving average of $93.52. Chevron Co. has a fifty-two week low of $51.60 and a fifty-two week high of $127.00. The stock has a market capitalization of $168.27 billion, a P/E ratio of 43.97, a P/E/G ratio of 22.42 and a beta of 1.29. The company has a quick ratio of 0.78, a current ratio of 1.01 and a debt-to-equity ratio of 0.16.
Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, May 1st. The oil and gas company reported $1.93 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.64 by $1.29. Chevron had a return on equity of 8.28% and a net margin of 2.71%. The business had revenue of $31.50 billion during the quarter, compared to analyst estimates of $30.46 billion. During the same quarter last year, the company posted $1.47 EPS. Chevron’s revenue for the quarter was down 10.5% on a year-over-year basis. On average, sell-side analysts anticipate that Chevron Co. will post 0.8 earnings per share for the current year.
Several brokerages recently issued reports on CVX. Morgan Stanley raised their price objective on Chevron from $103.00 to $107.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 21st. SunTrust Banks assumed coverage on Chevron in a research report on Thursday. They issued a “buy” rating and a $120.00 target price on the stock. Craig Hallum increased their target price on Chevron from $81.00 to $100.00 and gave the stock a “buy” rating in a research report on Monday, May 4th. Independent Research lowered Chevron to a “hold” rating in a report on Tuesday, April 14th. Finally, lowered Chevron from a “buy” rating to a “neutral” rating in a report on Tuesday, June 9th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. Chevron currently has an average rating of “Buy” and an average target price of $111.25.
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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