Goodman Financial Corp boosted its position in Chevron Co. (NYSE:CVX) by 1.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 44,527 shares of the oil and gas company’s stock after purchasing an additional 483 shares during the period. Chevron comprises approximately 2.5% of Goodman Financial Corp’s portfolio, making the stock its 21st biggest holding. Goodman Financial Corp’s holdings in Chevron were worth $5,574,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of CVX. Beach Investment Management LLC. purchased a new position in Chevron in the second quarter valued at approximately $2,588,000. Strategic Financial Group LLC lifted its position in shares of Chevron by 2.2% during the second quarter. Strategic Financial Group LLC now owns 9,181 shares of the oil and gas company’s stock worth $958,000 after acquiring an additional 202 shares in the last quarter. Usca Ria LLC lifted its position in shares of Chevron by 9.5% during the second quarter. Usca Ria LLC now owns 43,215 shares of the oil and gas company’s stock worth $4,509,000 after acquiring an additional 3,762 shares in the last quarter. Coho Partners Ltd. lifted its position in shares of Chevron by 26.9% during the second quarter. Coho Partners Ltd. now owns 1,063,327 shares of the oil and gas company’s stock worth $110,937,000 after acquiring an additional 225,133 shares in the last quarter. Finally, Prudential Financial Inc. lifted its position in shares of Chevron by 23.9% during the second quarter. Prudential Financial Inc. now owns 4,325,183 shares of the oil and gas company’s stock worth $451,247,000 after acquiring an additional 835,060 shares in the last quarter. Institutional investors and hedge funds own 64.98% of the company’s stock.
Several research firms have issued reports on CVX. Vetr upgraded Chevron from a “hold” rating to a “buy” rating and set a $117.38 target price on the stock in a research report on Tuesday, April 3rd. Wells Fargo increased their target price on Chevron from $138.00 to $153.00 and gave the stock an “outperform” rating in a research report on Thursday. They noted that the move was a valuation call. Royal Bank of Canada restated a “hold” rating and set a $130.00 target price on shares of Chevron in a research report on Friday. Bank of America downgraded Chevron from a “buy” rating to a “neutral” rating and set a $125.00 target price on the stock. in a research report on Thursday, January 4th. They noted that the move was a valuation call. Finally, DZ Bank upgraded Chevron from a “hold” rating to a “buy” rating in a research report on Wednesday, March 7th. One analyst has rated the stock with a sell rating, eight have given a hold rating and nineteen have assigned a buy rating to the stock. Chevron presently has an average rating of “Buy” and a consensus price target of $131.29.
Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, February 2nd. The oil and gas company reported $0.73 earnings per share for the quarter, missing the consensus estimate of $1.27 by ($0.54). The firm had revenue of $37.62 billion during the quarter, compared to the consensus estimate of $38.43 billion. Chevron had a return on equity of 5.22% and a net margin of 6.49%. The company’s revenue for the quarter was up 19.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.22 EPS. sell-side analysts anticipate that Chevron Co. will post 6.39 earnings per share for the current year.
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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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