Brentview Investment Management LLC Has $6.84 Million Stock Position in Chevron Corporation (NYSE:CVX)

Key Points

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Brentview Investment Management LLC lifted its stake in shares of Chevron Corporation (NYSE:CVX - Free Report) by 5.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 40,876 shares of the oil and gas company's stock after buying an additional 2,043 shares during the quarter. Chevron comprises 3.6% of Brentview Investment Management LLC's portfolio, making the stock its 4th largest position. Brentview Investment Management LLC's holdings in Chevron were worth $6,838,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of CVX. GAMMA Investing LLC grew its holdings in Chevron by 21,191.5% in the first quarter. GAMMA Investing LLC now owns 5,408,248 shares of the oil and gas company's stock worth $904,746,000 after purchasing an additional 5,382,847 shares during the period. Capital World Investors grew its holdings in shares of 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 during the last quarter. Northern Trust Corp grew its holdings in shares of 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 during the last quarter. Invesco Ltd. grew its holdings in shares of 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 during the last quarter. Finally, Janus Henderson Group PLC grew its holdings in shares of Chevron by 27.3% during the fourth quarter. Janus Henderson Group PLC now owns 3,897,183 shares of the oil and gas company's stock valued at $564,503,000 after buying an additional 835,990 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CVX. UBS Group cut their price target on shares of Chevron from $194.00 to $185.00 and set a "buy" rating on the stock in a report on Monday, April 7th. BNP Paribas cut shares of Chevron to a "cautious" rating in a report on Tuesday, April 15th. Scotiabank reiterated a "sector perform" rating and set a $160.00 price target (up previously from $143.00) on shares of Chevron in a report on Friday, July 11th. Redburn Atlantic restated a "sell" rating and set a $124.00 price objective (down previously from $156.00) on shares of Chevron in a research report on Wednesday, April 23rd. Finally, Raymond James Financial restated an "outperform" rating on shares of Chevron in a research report on Friday. Three equities research 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. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $163.18.

Chevron Trading Down 0.2%

Shares of CVX stock traded down $0.31 during trading hours on Friday, reaching $151.33. 10,704,924 shares of the stock were exchanged, compared to its average volume of 12,271,876. 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's 50-day moving average price is $146.86 and its 200-day moving average price is $148.87. The firm has a market capitalization of $264.28 billion, a price-to-earnings ratio of 17.29, a price-to-earnings-growth ratio of 2.39 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 EPS for the quarter, topping analysts' consensus estimates of $1.58 by $0.19. Chevron had a net margin of 7.76% and a return on equity of 10.73%. The firm 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 company earned $2.55 EPS. The firm's revenue for the quarter was down 12.4% compared to the same quarter last year. As a group, equities analysts anticipate that Chevron Corporation will post 10.79 earnings per share for the current year.

About Chevron

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.