Gulf International Bank UK Ltd raised its stake in Chevron Co. (NYSE:CVX) by 0.7% in the 2nd quarter, Holdings Channel.com reports. The fund owned 461,120 shares of the oil and gas company’s stock after buying an additional 3,385 shares during the quarter. Gulf International Bank UK Ltd’s holdings in Chevron were worth $41,145,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. BlackRock Inc. raised its holdings in shares of Chevron by 4.9% during the 1st quarter. BlackRock Inc. now owns 133,388,637 shares of the oil and gas company’s stock worth $9,665,343,000 after buying an additional 6,208,177 shares in the last quarter. State Street Corp raised its holdings in shares of Chevron by 2.6% during the 1st quarter. State Street Corp now owns 117,055,351 shares of the oil and gas company’s stock worth $8,481,831,000 after buying an additional 2,914,316 shares in the last quarter. Capital International Investors raised its holdings in shares of Chevron by 12.9% during the 1st quarter. Capital International Investors now owns 36,799,529 shares of the oil and gas company’s stock worth $2,666,493,000 after buying an additional 4,218,942 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Chevron by 1.9% during the 1st 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 buying an additional 522,767 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Chevron during the 4th quarter worth $2,565,385,000. 64.60% of the stock is owned by hedge funds and other institutional investors.
Shares of Chevron stock opened at $90.13 on Friday. Chevron Co. has a one year low of $51.60 and a one year high of $127.00. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.01 and a quick ratio of 0.78. The stock’s 50-day moving average is $90.32 and its 200 day moving average is $93.52. The firm 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.
Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, May 1st. The oil and gas company reported $1.93 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $30.46 billion. During the same period in the prior year, the business earned $1.47 EPS. The firm’s revenue for the quarter was down 10.5% on a year-over-year basis. On average, sell-side analysts expect that Chevron Co. will post 0.8 EPS for the current fiscal year.
A number of equities analysts have recently commented on CVX shares. cut Chevron from a “buy” rating to a “neutral” rating in a report on Tuesday, June 9th. ValuEngine cut Chevron from a “buy” rating to a “hold” rating in a report on Thursday, April 2nd. Zacks Investment Research raised Chevron from a “hold” rating to a “strong-buy” rating and set a $105.00 target price for the company in a report on Wednesday. Craig Hallum upped their target price on Chevron from $81.00 to $100.00 and gave the stock a “buy” rating in a report on Monday, May 4th. Finally, Mizuho lowered their target price on Chevron from $140.00 to $100.00 and set a “buy” rating for the company in a report on Wednesday, April 8th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target 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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