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40,277 Shares in Chevron Corporation (NYSE:CVX) Bought by Wills Financial Group LLC

Chevron logo with Energy background

Key Points

  • Wills Financial Group LLC acquired 40,277 shares of Chevron Corporation, valued at approximately $6,738,000, making it the firm's 12th largest holding.
  • Chevron's stock has been downgraded by several investment analysts, with an average price target of $163.18 and a consensus rating of "Hold."
  • Chevron reported $1.77 earnings per share for the last quarter, exceeding forecasts, despite a 12.4% year-over-year revenue decline.
  • Five stocks to consider instead of Chevron.

Wills Financial Group LLC bought a new position in Chevron Corporation (NYSE:CVX - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 40,277 shares of the oil and gas company's stock, valued at approximately $6,738,000. Chevron comprises approximately 3.0% of Wills Financial Group LLC's portfolio, making the stock its 12th biggest holding.

Several other institutional investors and hedge funds have also recently modified their holdings of CVX. Northern Trust Corp increased its position in shares of Chevron by 7.3% in the fourth quarter. Northern Trust Corp now owns 20,471,800 shares of the oil and gas company's stock worth $2,965,135,000 after purchasing an additional 1,394,091 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in shares of Chevron by 1.3% in the 4th quarter. Ameriprise Financial Inc. now owns 16,718,838 shares of the oil and gas company's stock worth $2,421,564,000 after buying an additional 211,023 shares during the last quarter. Invesco Ltd. raised its position in shares of Chevron by 6.9% during the 4th 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. Capital World Investors lifted its holdings in shares of Chevron by 11.4% during the 4th quarter. Capital World Investors now owns 14,079,656 shares of the oil and gas company's stock worth $2,039,288,000 after acquiring an additional 1,440,808 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in Chevron by 2.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 13,755,894 shares of the oil and gas company's stock worth $1,992,406,000 after acquiring an additional 292,585 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company's stock.

Wall Street Analyst Weigh In

CVX has been the topic of a number of research reports. Barclays restated an "equal weight" rating on shares of Chevron in a research report on Tuesday, July 15th. UBS Group cut their price objective on shares of Chevron from $194.00 to $185.00 and set a "buy" rating for the company in a research note on Monday, April 7th. Hsbc Global Res cut shares of Chevron from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 13th. TD Cowen lowered their price target on shares of Chevron from $155.00 to $150.00 and set a "hold" rating for the company in a research note on Monday, May 5th. Finally, BNP Paribas cut Chevron to a "cautious" rating in a research note on Tuesday, April 15th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and ten have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $163.18.

Get Our Latest Stock Analysis on Chevron

Chevron Stock Down 0.2%

Shares of Chevron stock opened at $151.33 on Monday. The company's fifty day simple moving average is $146.86 and its two-hundred day simple moving average is $148.73. Chevron Corporation has a 12-month low of $132.04 and a 12-month high of $168.96. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.17. The company has a market cap of $264.28 billion, a P/E ratio of 19.48, a PEG ratio of 2.31 and a beta of 0.87.

Chevron (NYSE:CVX - Get Free Report) last released its quarterly earnings results on Friday, August 1st. The oil and gas company reported $1.77 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.58 by $0.19. Chevron had a net margin of 7.02% and a return on equity of 9.80%. The company had revenue of $44.82 billion during the quarter, compared to the consensus estimate of $44.59 billion. During the same period in the prior year, the firm earned $2.55 earnings per share. Chevron's revenue was down 12.4% on a year-over-year basis. Research analysts anticipate that Chevron Corporation will post 10.79 EPS for the current year.

About Chevron

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Chevron (NYSE:CVX)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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