Raymond James Trust N.A. Has $14.07 Million Position in Chevron Co. (NYSE:CVX)
Raymond James Trust N.A. grew its position in Chevron Co. (NYSE:CVX) by 3.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 195,396 shares of the oil and gas company’s stock after buying an additional 6,453 shares during the quarter. Raymond James Trust N.A.’s holdings in Chevron were worth $14,068,000 as of its most recent SEC filing.
Other large investors have also recently modified their holdings of the company. Selective Wealth Management Inc. acquired a new position in shares of Chevron in the 2nd quarter valued at approximately $25,000. Demars Financial Group LLC acquired a new position in shares of Chevron in the 2nd quarter valued at approximately $32,000. Marshall & Sullivan Inc. WA acquired a new position in shares of Chevron in the 2nd quarter valued at approximately $36,000. Asset Advisors Investment Management LLC acquired a new position in shares of Chevron in the 2nd quarter valued at approximately $36,000. Finally, Watson Rebecca acquired a new position in shares of Chevron in the 2nd quarter valued at approximately $39,000. Institutional investors own 64.01% of the company’s stock.
CVX has been the subject of a number of research analyst reports. Truist cut shares of Chevron to a “buy” rating and lowered their price objective for the stock from $113.00 to $112.00 in a research report on Friday, October 9th. Jefferies Financial Group reiterated a “buy” rating and set a $108.00 price objective on shares of Chevron in a research report on Tuesday, August 11th. SunTrust Banks initiated coverage on shares of Chevron in a research report on Thursday, July 23rd. They set a “buy” rating and a $120.00 price objective for the company. Scotia Howard Weill cut shares of Chevron from a “buy” rating to a “sector perform” rating and set a $121.00 price objective for the company. in a research report on Thursday, September 24th. Finally, Piper Sandler cut shares of Chevron from an “overweight” rating to a “neutral” rating and set a $108.00 price objective for the company. in a research report on Monday, August 17th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $107.27.
NYSE:CVX opened at $72.89 on Friday. The firm’s fifty day moving average is $76.82 and its 200-day moving average is $85.44. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.87 and a current ratio of 1.14. Chevron Co. has a 52 week low of $51.60 and a 52 week high of $122.94. The firm has a market cap of $136.11 billion, a P/E ratio of -15.64, a P/E/G ratio of 2,483.67 and a beta of 1.26.
Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, July 31st. The oil and gas company reported ($1.59) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.93) by ($0.66). Chevron had a negative net margin of 7.41% and a positive return on equity of 3.61%. The firm had revenue of $13.95 billion during the quarter, compared to the consensus estimate of $21.71 billion. During the same period in the prior year, the company posted $1.77 earnings per share. The company’s revenue for the quarter was down 64.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Chevron Co. will post 0.01 earnings per share for the current year.
Chevron Corporation, through its subsidiaries, engages in integrated energy, chemicals, and petroleum operations worldwide. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, and production of crude oil and natural gas; processing, liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and transportation, storage, and marketing of natural gas, as well as operates a gas-to-liquids plant.
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