Commonwealth Equity Services LLC Increases Holdings in Chevron Corporation (NYSE:CVX)

Key Points

• Commonwealth Equity Services LLC increased its stake in Chevron Corporation by 1.2%, owning approximately 1,329,793 shares worth $222.46 million as of the recent SEC filing.
• Several institutional investors, including GAMMA Investing LLC and Janus Henderson Group PLC, significantly increased their holdings in Chevron, indicating strong interest and confidence in the company.
• Chevron's stock has an average rating of "Hold" with an average target price of $163.18, reflecting mixed sentiments among analysts following varying target adjustments by multiple firms.

Commonwealth Equity Services LLC lifted its position in Chevron Corporation (NYSE:CVX - Free Report) by 1.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,329,793 shares of the oil and gas company's stock after acquiring an additional 15,796 shares during the period. Commonwealth Equity Services LLC owned about 0.08% of Chevron worth $222,461,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. Eagle Capital Management LLC grew its position in Chevron by 0.7% during the fourth quarter. Eagle Capital Management LLC now owns 34,600 shares of the oil and gas company's stock valued at $5,011,000 after purchasing an additional 242 shares in the last quarter. Bank Pictet & Cie Europe AG grew its position in Chevron by 7.9% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 35,985 shares of the oil and gas company's stock worth $5,212,000 after acquiring an additional 2,641 shares in the last quarter. Atlas Capital Advisors Inc. bought a new stake in Chevron in the fourth quarter worth approximately $217,000. Prudential PLC grew its position in Chevron by 19.7% in the fourth quarter. Prudential PLC now owns 31,572 shares of the oil and gas company's stock worth $4,573,000 after acquiring an additional 5,206 shares in the last quarter. Finally, Notis McConarty Edward grew its position in Chevron by 1.0% in the fourth quarter. Notis McConarty Edward now owns 12,385 shares of the oil and gas company's stock worth $1,794,000 after acquiring an additional 120 shares in the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on CVX. Raymond James Financial restated an "outperform" rating on shares of Chevron in a research note on Friday. Evercore ISI reissued an "outperform" rating and issued a $180.00 price target on shares of Chevron in a report on Thursday. DZ Bank lowered shares of Chevron from a "buy" rating to a "sell" rating and set a $130.00 price target on the stock. in a report on Tuesday, May 6th. UBS Group lowered their target price 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. Finally, BNP Paribas lowered shares of Chevron to a "cautious" rating in a report on Tuesday, April 15th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and ten have issued a buy rating to the company's stock. According to MarketBeat.com, Chevron has a consensus rating of "Hold" and a consensus target price of $163.18.

Chevron Stock Down 0.2%

NYSE CVX traded down $0.31 on Friday, reaching $151.33. The company had a trading volume of 10,704,924 shares, compared to its average volume of 12,807,201. The stock 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 company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.17. The company's fifty day moving average is $146.86 and its 200 day moving average is $148.73. Chevron Corporation has a 52-week low of $132.04 and a 52-week high of $168.96.

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