360 Financial Inc. Makes New $445,000 Investment in Chevron Corporation (NYSE:CVX)

Key Points

• 360 Financial Inc. has made a new investment of $445,000 in Chevron Corporation, acquiring 2,658 shares of the company's stock in the first quarter.
• Chevron has faced mixed analyst ratings, with recent price target adjustments by firms like UBS Group lowering it from $194.00 to $185.00, while DZ Bank downgraded its rating from "buy" to "sell".
• The most recent quarterly earnings report showed Chevron had an EPS of $2.18, surpassing expectations, but reported a 2.3% revenue decline year-over-year with a revenue of $47.61 billion.

360 Financial Inc. purchased a new stake in shares of Chevron Corporation (NYSE:CVX - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 2,658 shares of the oil and gas company's stock, valued at approximately $445,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Geode Capital Management LLC grew its stake in shares of Chevron by 1.1% in the fourth quarter. Geode Capital Management LLC now owns 36,269,270 shares of the oil and gas company's stock worth $5,247,142,000 after purchasing an additional 392,916 shares in the last quarter. Northern Trust Corp boosted its stake in Chevron by 7.3% during the fourth quarter. Northern Trust Corp now owns 20,471,800 shares of the oil and gas company's stock valued at $2,965,135,000 after buying an additional 1,394,091 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in Chevron by 1.3% during the fourth quarter. Ameriprise Financial Inc. now owns 16,718,838 shares of the oil and gas company's stock valued at $2,421,564,000 after buying an additional 211,023 shares in the last quarter. Invesco Ltd. boosted its stake in Chevron by 6.9% during the fourth quarter. Invesco Ltd. now owns 15,027,474 shares of the oil and gas company's stock valued at $2,176,579,000 after buying an additional 964,426 shares in the last quarter. Finally, Capital World Investors boosted its stake in Chevron by 11.4% during the fourth quarter. Capital World Investors now owns 14,079,656 shares of the oil and gas company's stock valued at $2,039,288,000 after buying an additional 1,440,808 shares in the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Chevron Trading Down 0.2%

Shares of NYSE CVX traded down $0.31 during midday trading on Friday, hitting $151.33. The stock had a trading volume of 10,704,924 shares, compared to its average volume of 9,498,295. The company's 50-day simple moving average is $146.57 and its 200 day simple moving average is $148.90. The firm has a market cap of $264.28 billion, a P/E ratio of 17.29, a price-to-earnings-growth ratio of 2.42 and a beta of 0.83. Chevron Corporation has a fifty-two week low of $132.04 and a fifty-two week high of $168.96. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.08 and a quick ratio of 0.82.

Chevron (NYSE:CVX - Get Free Report) last announced 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. Chevron had a return on equity of 10.73% and a net margin of 7.76%. The business had revenue of $44.82 billion during the quarter, compared to analysts' expectations of $44.59 billion. During the same period in the previous year, the firm earned $2.55 earnings per share. The firm's quarterly revenue was down 12.4% compared to the same quarter last year. Research analysts anticipate that Chevron Corporation will post 10.79 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have recently commented on CVX shares. Barclays reaffirmed an "equal weight" rating on shares of Chevron in a report on Tuesday, July 15th. BNP Paribas downgraded Chevron to a "cautious" rating in a research note on Tuesday, April 15th. Jefferies Financial Group reissued a "buy" rating on shares of Chevron in a report on Friday, July 18th. Piper Sandler reaffirmed an "overweight" rating on shares of Chevron in a report on Tuesday, July 15th. Finally, Mizuho lowered their target price on Chevron from $188.00 to $186.00 and set an "outperform" rating on the stock in a report on Tuesday, May 13th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, Chevron currently has a consensus rating of "Hold" and an average price target of $163.18.

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.