Strategic Investment Advisors MI increased its stake in shares of Chevron Co. (NYSE:CVX) by 14.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,700 shares of the oil and gas company’s stock after purchasing an additional 829 shares during the quarter. Strategic Investment Advisors MI’s holdings in Chevron were worth $566,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Ellenbecker Investment Group grew its stake in shares of Chevron by 3.0% during the fourth quarter. Ellenbecker Investment Group now owns 3,870 shares of the oil and gas company’s stock valued at $327,000 after purchasing an additional 113 shares during the last quarter. Front Street Capital Management Inc. lifted its holdings in Chevron by 1.1% in the third quarter. Front Street Capital Management Inc. now owns 11,000 shares of the oil and gas company’s stock valued at $792,000 after buying an additional 125 shares during the period. Bremer Bank National Association lifted its holdings in Chevron by 0.4% in the fourth quarter. Bremer Bank National Association now owns 32,351 shares of the oil and gas company’s stock valued at $2,732,000 after buying an additional 131 shares during the period. CFO4Life Group LLC lifted its holdings in Chevron by 1.6% in the fourth quarter. CFO4Life Group LLC now owns 8,368 shares of the oil and gas company’s stock valued at $707,000 after buying an additional 135 shares during the period. Finally, Gantzert Investment Co. LLC ADV lifted its holdings in Chevron by 0.9% in the third quarter. Gantzert Investment Co. LLC ADV now owns 15,920 shares of the oil and gas company’s stock valued at $1,146,000 after buying an additional 140 shares during the period. 62.27% of the stock is currently owned by institutional investors and hedge funds.
Several brokerages recently weighed in on CVX. Truist Securiti cut their price objective on shares of Chevron from $113.00 to $112.00 and set a “buy” rating on the stock in a report on Friday, October 9th. Zacks Investment Research upgraded shares of Chevron from a “sell” rating to a “hold” rating and set a $95.00 target price on the stock in a report on Tuesday, December 15th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $95.00 target price on shares of Chevron in a report on Tuesday, November 17th. BidaskClub upgraded shares of Chevron from a “strong sell” rating to a “sell” rating in a report on Saturday, January 9th. Finally, Truist increased their target price on shares of Chevron in a report on Monday, January 4th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and eighteen have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $103.00.
Chevron (NYSE:CVX) last released its earnings results on Wednesday, November 4th. The oil and gas company reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.38. Chevron had a negative net margin of 10.86% and a positive return on equity of 1.75%. The business had revenue of $24.45 billion during the quarter, compared to the consensus estimate of $26.34 billion. During the same quarter last year, the firm earned $1.55 earnings per share. The firm’s revenue for the quarter was down 32.3% compared to the same quarter last year. On average, equities research analysts forecast that Chevron Co. will post -0.09 EPS for the current year.
Chevron Company Profile
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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