Adviser Investments LLC Raises Position in Chevron Co. (CVX)

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Adviser Investments LLC boosted its holdings in Chevron Co. (NYSE:CVX) by 56.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,647 shares of the oil and gas company’s stock after buying an additional 4,213 shares during the quarter. Adviser Investments LLC’s holdings in Chevron were worth $1,472,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Live Your Vision LLC raised its holdings in Chevron by 308.0% during the 2nd quarter. Live Your Vision LLC now owns 816 shares of the oil and gas company’s stock worth $101,000 after purchasing an additional 616 shares during the last quarter. Advisors Preferred LLC bought a new position in Chevron during the 1st quarter worth approximately $110,000. Litman Gregory Asset Management LLC raised its holdings in Chevron by 566.9% during the 1st quarter. Litman Gregory Asset Management LLC now owns 1,147 shares of the oil and gas company’s stock worth $131,000 after purchasing an additional 975 shares during the last quarter. Point72 Asia Hong Kong Ltd raised its holdings in Chevron by 20,716.7% during the 1st quarter. Point72 Asia Hong Kong Ltd now owns 1,249 shares of the oil and gas company’s stock worth $142,000 after purchasing an additional 1,243 shares during the last quarter. Finally, Shine Investment Advisory Services Inc. raised its holdings in Chevron by 45.4% during the 2nd quarter. Shine Investment Advisory Services Inc. now owns 1,479 shares of the oil and gas company’s stock worth $187,000 after purchasing an additional 462 shares during the last quarter. Institutional investors and hedge funds own 64.60% of the company’s stock.

NYSE CVX opened at $118.14 on Friday. Chevron Co. has a 12-month low of $108.02 and a 12-month high of $133.88. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.08 and a quick ratio of 0.87. The firm has a market capitalization of $224.74 billion, a P/E ratio of 31.93, a price-to-earnings-growth ratio of 2.04 and a beta of 1.07.

Chevron (NYSE:CVX) last posted 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 business had revenue of $42.24 billion during the quarter, compared to analyst estimates of $46.62 billion. Chevron had a net margin of 7.87% and a return on equity of 6.89%. The business’s revenue for the quarter was up 22.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.77 EPS. On average, sell-side analysts expect that Chevron Co. will post 8.23 earnings per share for the current year.

Several research firms have issued reports on CVX. Barclays raised their price target on shares of Chevron from $145.00 to $148.00 and gave the stock an “overweight” rating in a report on Wednesday, July 11th. Credit Suisse Group set a $132.00 price target on shares of Chevron and gave the stock a “hold” rating in a report on Sunday, July 1st. Macquarie lowered shares of Chevron from an “outperform” rating to a “neutral” rating and set a $125.00 price target for the company. in a report on Tuesday, July 3rd. Royal Bank of Canada set a $150.00 price target on shares of Chevron and gave the stock a “hold” rating in a report on Thursday, September 20th. Finally, Berenberg Bank began coverage on shares of Chevron in a report on Tuesday, September 11th. They set a “hold” rating and a $135.00 price target for the company. Nine investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $137.17.

In other Chevron news, insider James William Johnson sold 4,750 shares of Chevron stock in a transaction on Thursday, October 11th. The shares were sold at an average price of $119.97, for a total transaction of $569,857.50. Following the transaction, the insider now directly owns 4,750 shares of the company’s stock, valued at approximately $569,857.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.38% of the stock is owned by insiders.

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.

Read More: Market Capitalization – What it Means for Investors

Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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