US Bancorp DE Increases Holdings in Chevron Corporation (NYSE:CVX)

Key Points

• US Bancorp DE increased its holdings in Chevron Corporation by 0.6% to own over 2.2 million shares valued at approximately $371.77 million as of the latest quarter.
• Chevron reported $2.18 EPS for the most recent quarter, beating estimates, but its revenue of $47.61 billion was down 2.3% year-over-year.
• According to analysts, Chevron currently has a consensus rating of "Hold" and an average price target of $163.18, with varying ratings from different research firms.

US Bancorp DE grew its position in shares of Chevron Corporation (NYSE:CVX - Free Report) by 0.6% during the first quarter, according to its most recent filing with the SEC. The firm owned 2,222,280 shares of the oil and gas company's stock after acquiring an additional 12,648 shares during the period. US Bancorp DE owned about 0.13% of Chevron worth $371,766,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. CoreCap Advisors LLC raised its stake 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 raised its holdings in Chevron by 4.6% during 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 during the period. Cordatus Wealth Management LLC raised its stake 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 valued at $3,299,000 after purchasing an additional 76 shares during the period. Requisite Capital Management LLC raised its stake 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 valued at $1,064,000 after purchasing an additional 77 shares during the period. Finally, Silverlake Wealth Management LLC raised its stake in Chevron by 0.7% during the 1st quarter. Silverlake Wealth Management LLC now owns 10,929 shares of the oil and gas company's stock valued at $1,828,000 after purchasing an additional 78 shares during the period. 72.42% of the stock is owned by institutional investors.

Chevron Price Performance

CVX opened at $151.75 on Friday. The company has a fifty day simple moving average of $146.57 and a 200 day simple moving average of $148.90. The firm has a market cap of $265.01 billion, a price-to-earnings ratio of 17.34, a PEG ratio of 2.42 and a beta of 0.83. Chevron Corporation has a twelve month low of $132.04 and a twelve 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.

Chevron (NYSE:CVX - Get Free Report) last posted its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $2.18 EPS for the quarter, beating analysts' consensus estimates of $2.15 by $0.03. Chevron had a net margin of 7.76% and a return on equity of 10.73%. The firm had revenue of $47.61 billion for the quarter, compared to the consensus estimate of $49.05 billion. During the same period in the prior year, the firm posted $2.93 EPS. The firm's revenue was down 2.3% compared to the same quarter last year. Equities research analysts expect that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on CVX shares. Piper Sandler reaffirmed an "overweight" rating on shares of Chevron in a report on Tuesday, July 15th. Mizuho dropped their price target on Chevron from $188.00 to $186.00 and set an "outperform" rating for the company in a research report on Tuesday, May 13th. BNP Paribas lowered Chevron to a "cautious" rating in a research report on Tuesday, April 15th. Redburn Atlantic reissued a "sell" rating and issued a $124.00 price objective (down previously from $156.00) on shares of Chevron in a research note on Wednesday, April 23rd. Finally, Wells Fargo & Company reaffirmed an "overweight" rating on shares of Chevron in a research report on Friday. Three research 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, the company currently has a consensus rating of "Hold" and an average price target of $163.18.

Chevron Company 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.

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