Haverford Financial Services Inc. Reduces Stock Position in Chevron Corporation (NYSE:CVX)

Haverford Financial Services Inc. lessened its holdings in Chevron Corporation (NYSE:CVX) by 1.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 28,431 shares of the oil and gas company’s stock after selling 430 shares during the period. Chevron accounts for approximately 1.5% of Haverford Financial Services Inc.’s portfolio, making the stock its 29th largest holding. Haverford Financial Services Inc.’s holdings in Chevron were worth $4,756,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of CVX. CoreCap Advisors LLC grew its holdings in Chevron by 0.3% during the 4th quarter. CoreCap Advisors LLC now owns 28,248 shares of the oil and gas company’s stock valued at $4,091,000 after buying an additional 71 shares during the last quarter. Clayton Financial Group LLC lifted its position in shares of Chevron by 4.6% in the first quarter. Clayton Financial Group LLC now owns 1,702 shares of the oil and gas company’s stock valued at $285,000 after acquiring an additional 75 shares in the last quarter. Gill Capital Partners LLC boosted its stake in shares of Chevron by 4.9% during the first quarter. Gill Capital Partners LLC now owns 1,619 shares of the oil and gas company’s stock valued at $271,000 after acquiring an additional 75 shares during the last quarter. Cordatus Wealth Management LLC increased its position in Chevron by 0.4% during the 1st quarter. Cordatus Wealth Management LLC now owns 19,723 shares of the oil and gas company’s stock worth $3,299,000 after purchasing an additional 76 shares in the last quarter. Finally, Requisite Capital Management LLC increased its position in Chevron by 1.2% during the 1st quarter. Requisite Capital Management LLC now owns 6,362 shares of the oil and gas company’s stock worth $1,064,000 after purchasing an additional 77 shares in the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. HSBC lowered shares of Chevron from a “buy” rating to a “hold” rating and reduced their target price for the company from $176.00 to $158.00 in a report on Tuesday, May 13th. Wells Fargo & Company reissued an “overweight” rating and set a $178.00 price objective on shares of Chevron in a research note on Friday. Raymond James Financial reaffirmed an “outperform” rating on shares of Chevron in a research note on Friday. Jefferies Financial Group restated a “buy” rating on shares of Chevron in a report on Friday, July 18th. Finally, Redburn Atlantic reiterated a “sell” rating and issued a $124.00 target price (down from $156.00) on shares of Chevron in a research note on Wednesday, April 23rd. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $163.18.

Chevron Trading Down 0.2%

CVX opened at $151.33 on Monday. The firm has a market capitalization of $264.28 billion, a P/E ratio of 19.48, a P/E/G ratio of 2.31 and a beta of 0.87. The firm’s 50 day moving average is $146.86 and its 200-day moving average is $148.73. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.17. Chevron Corporation has a 52-week low of $132.04 and a 52-week high of $168.96.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, August 1st. The oil and gas company reported $1.77 EPS for the quarter, topping analysts’ consensus estimates of $1.58 by $0.19. The firm had revenue of $44.82 billion for the quarter, compared to analyst estimates of $44.59 billion. Chevron had a net margin of 7.02% and a return on equity of 9.80%. The firm’s revenue was down 12.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.55 EPS. Analysts expect that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Profile

Chevron Corporation, through its subsidiaries, engages in the integrated energy and chemicals operations in the United States and internationally. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, production, and transportation of crude oil and natural gas; processing, liquefaction, transportation, and regasification of liquefied natural gas; transportation of crude oil through pipelines; transportation, storage, and marketing of natural gas; and carbon capture and storage, as well as a gas-to-liquids plant.