Shine Investment Advisory Services Inc. raised its holdings in Chevron Co. (NYSE:CVX) by 45.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,479 shares of the oil and gas company’s stock after acquiring an additional 462 shares during the period. Shine Investment Advisory Services Inc.’s holdings in Chevron were worth $187,000 at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in the company. Bank of The Ozarks boosted its stake in shares of Chevron by 2.6% during the second quarter. Bank of The Ozarks now owns 28,605 shares of the oil and gas company’s stock valued at $3,616,000 after purchasing an additional 712 shares in the last quarter. HC Financial Advisors Inc. acquired a new position in shares of Chevron in the second quarter worth approximately $896,000. D.A. Davidson & CO. lifted its stake in shares of Chevron by 4.4% in the second quarter. D.A. Davidson & CO. now owns 151,097 shares of the oil and gas company’s stock worth $19,103,000 after acquiring an additional 6,434 shares during the period. Victory Capital Management Inc. lifted its stake in shares of Chevron by 1.8% in the second quarter. Victory Capital Management Inc. now owns 624,265 shares of the oil and gas company’s stock worth $78,926,000 after acquiring an additional 11,220 shares during the period. Finally, Wright Investors Service Inc. acquired a new position in shares of Chevron in the second quarter worth approximately $300,000. 64.60% of the stock is currently owned by hedge funds and other institutional investors.
In other Chevron news, insider James William Johnson sold 4,750 shares of the business’s stock in a transaction that occurred on Thursday, September 13th. The stock was sold at an average price of $116.00, for a total value of $551,000.00. Following the transaction, the insider now directly owns 4,750 shares of the company’s stock, valued at $551,000. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.38% of the stock is currently owned by insiders.
Chevron (NYSE:CVX) last issued 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 Thomson Reuters’ consensus estimate of $2.09 by ($0.31). Chevron had a net margin of 7.87% and a return on equity of 6.89%. The business had revenue of $42.24 billion during the quarter, compared to analyst estimates of $46.62 billion. During the same period last year, the firm posted $0.77 earnings per share. Chevron’s quarterly revenue was up 22.5% compared to the same quarter last year. Equities analysts predict that Chevron Co. will post 8.23 earnings per share for the current year.
A number of equities analysts recently commented on CVX shares. Royal Bank of Canada reaffirmed a “neutral” rating and issued a $145.00 price objective on shares of Chevron in a research note on Monday, July 2nd. Credit Suisse Group set a $132.00 price objective on Chevron and gave the stock a “hold” rating in a research note on Sunday, July 1st. Macquarie lowered Chevron from an “outperform” rating to a “neutral” rating and set a $125.00 price objective on the stock. in a research note on Tuesday, July 3rd. Barclays lifted their price objective on Chevron from $145.00 to $148.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 11th. Finally, Zacks Investment Research lowered Chevron from a “buy” rating to a “hold” rating in a research note on Monday, July 23rd. Nine research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. Chevron currently has a consensus rating of “Buy” and a consensus target price of $137.17.
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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