State Treasurer State of Michigan boosted its stake in shares of Chevron Co. (NYSE:CVX) by 0.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 570,968 shares of the oil and gas company’s stock after acquiring an additional 5,200 shares during the quarter. State Treasurer State of Michigan’s holdings in Chevron were worth $69,818,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors also recently bought and sold shares of the company. Canton Hathaway LLC acquired a new position in Chevron during the third quarter worth $141,000. Signature Estate & Investment Advisors LLC acquired a new position in Chevron during the third quarter worth $144,000. O Brien Wealth Partners LLC raised its holdings in Chevron by 4,389.3% during the third quarter. O Brien Wealth Partners LLC now owns 1,257 shares of the oil and gas company’s stock worth $154,000 after purchasing an additional 1,229 shares during the last quarter. Atlantic Trust LLC raised its holdings in Chevron by 54.7% during the second quarter. Atlantic Trust LLC now owns 1,470 shares of the oil and gas company’s stock worth $186,000 after purchasing an additional 520 shares during the last quarter. Finally, Shine Investment Advisory Services Inc. raised its holdings in Chevron by 45.4% during the second 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. 64.59% of the stock is owned by institutional investors.
Several equities analysts recently issued reports on the company. Royal Bank of Canada set a $150.00 price objective on Chevron and gave the stock a “hold” rating in a report on Thursday, September 20th. Bank of America reaffirmed a “neutral” rating and set a $140.00 price objective (up from $135.00) on shares of Chevron in a report on Monday, November 5th. Zacks Investment Research raised Chevron from a “hold” rating to a “buy” rating and set a $137.00 price objective for the company in a report on Monday, October 1st. Credit Suisse Group raised Chevron from a “neutral” rating to an “outperform” rating and set a $138.00 price objective for the company in a report on Monday, November 5th. Finally, Redburn Partners cut Chevron from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $130.00 to $115.00 in a report on Wednesday, October 3rd. One analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Chevron presently has a consensus rating of “Buy” and an average target price of $135.59.
Chevron stock opened at $112.54 on Monday. The company has a quick ratio of 1.01, a current ratio of 1.22 and a debt-to-equity ratio of 0.19. The firm has a market cap of $216.43 billion, a price-to-earnings ratio of 30.42, a P/E/G ratio of 2.11 and a beta of 1.09. Chevron Co. has a fifty-two week low of $100.22 and a fifty-two week high of $133.88.
Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, November 2nd. The oil and gas company reported $2.11 earnings per share for the quarter, topping the consensus estimate of $2.06 by $0.05. The company had revenue of $43.99 billion during the quarter, compared to the consensus estimate of $47.17 billion. Chevron had a return on equity of 8.19% and a net margin of 8.79%. Chevron’s revenue was up 21.5% compared to the same quarter last year. During the same quarter last year, the business posted $1.03 earnings per share. On average, research analysts anticipate that Chevron Co. will post 7.75 EPS for the current year.
In other Chevron news, EVP James William Johnson sold 4,750 shares of the firm’s stock in a transaction on Monday, December 3rd. The stock was sold at an average price of $120.92, for a total transaction of $574,370.00. Following the completion of the transaction, the executive vice president now owns 4,750 shares of the company’s stock, valued at $574,370. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.46% of the company’s stock.
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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