Emancipation Management LLC bought a new stake in shares of Chevron Co. (NYSE:CVX) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,850 shares of the oil and gas company’s stock, valued at approximately $217,000.
Other hedge funds have also modified their holdings of the company. State Street Corp boosted its position in shares of Chevron by 3.3% in the fourth quarter. State Street Corp now owns 117,508,471 shares of the oil and gas company’s stock worth $13,830,748,000 after buying an additional 3,719,388 shares in the last quarter. Northern Trust Corp boosted its stake in Chevron by 1.0% in the third quarter. Northern Trust Corp now owns 25,401,354 shares of the oil and gas company’s stock worth $2,614,308,000 after buying an additional 261,621 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Chevron by 0.8% in the third quarter. Bank of New York Mellon Corp now owns 25,363,912 shares of the oil and gas company’s stock worth $2,610,454,000 after buying an additional 189,971 shares in the last quarter. Boston Partners acquired a new stake in Chevron during the third quarter worth approximately $736,167,000. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its stake in Chevron by 6.0% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 6,073,687 shares of the oil and gas company’s stock worth $625,104,000 after buying an additional 345,868 shares in the last quarter. Institutional investors and hedge funds own 62.50% of the company’s stock.
Chevron Co. (NYSE:CVX) traded up 0.06% during mid-day trading on Friday, hitting $104.94. 4,078,389 shares of the stock traded hands. Chevron Co. has a 12-month low of $97.53 and a 12-month high of $119.00. The company’s market cap is $198.66 billion. The firm’s 50-day moving average is $108.50 and its 200-day moving average is $110.24. Chevron also saw some unusual options trading on Friday. Stock investors purchased 4,483 put options on the company. This is an increase of 343% compared to the typical volume of 1,013 put options.
Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, January 27th. The oil and gas company reported $0.22 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.64 by $0.42. The company had revenue of $31.50 billion for the quarter, compared to the consensus estimate of $35.24 billion. Chevron had a negative net margin of 0.43% and a positive return on equity of 1.26%. The firm’s revenue was up 7.7% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.31) earnings per share. Equities research analysts expect that Chevron Co. will post $4.53 EPS for the current year.
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Several research analysts recently commented on CVX shares. Scotiabank set a $114.00 price target on Chevron and gave the stock a “buy” rating in a research report on Monday, March 27th. Simmons dropped their target price on Chevron from $129.00 to $124.00 and set an “overweight” rating for the company in a research report on Wednesday. Royal Bank of Canada reaffirmed a “hold” rating and set a $114.00 price target on shares of Chevron in a research note on Thursday, March 23rd. Jefferies Group LLC reaffirmed a “buy” rating and set a $147.00 price target on shares of Chevron in a research report on Tuesday, April 11th. Finally, Vetr raised Chevron from a “hold” rating to a “buy” rating and set a $119.27 price target on the stock in a research report on Tuesday, March 28th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $120.15.
In related news, insider Pierre R. Breber sold 45,000 shares of Chevron stock in a transaction dated Thursday, February 2nd. The stock was sold at an average price of $111.80, for a total value of $5,031,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.40% of the company’s stock.
Chevron Company Profile
Chevron Corporation (Chevron) manages its investments in subsidiaries and affiliates, and provides administrative, financial, management and technology support to the United States and international subsidiaries that engage in integrated energy and chemicals operations. The Company operates through two business segments: Upstream and Downstream.
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