Chicago Partners Investment Group LLC Trims Holdings in Chevron Co. (NYSE:CVX)

Chicago Partners Investment Group LLC reduced its holdings in shares of Chevron Co. (NYSE:CVX) by 1.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,267 shares of the oil and gas company’s stock after selling 324 shares during the period. Chicago Partners Investment Group LLC’s holdings in Chevron were worth $2,598,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Ameriprise Financial Inc. grew its stake in shares of Chevron by 3.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 17,111,051 shares of the oil and gas company’s stock worth $2,676,957,000 after buying an additional 501,969 shares during the last quarter. Capital World Investors grew its stake in shares of Chevron by 3.2% in the first quarter. Capital World Investors now owns 16,009,766 shares of the oil and gas company’s stock worth $2,525,380,000 after acquiring an additional 495,879 shares during the last quarter. Legal & General Group Plc grew its stake in shares of Chevron by 4.9% in the second quarter. Legal & General Group Plc now owns 13,570,971 shares of the oil and gas company’s stock worth $2,122,772,000 after acquiring an additional 629,644 shares during the last quarter. Capital International Investors raised its position in shares of Chevron by 5.9% in the 1st quarter. Capital International Investors now owns 13,418,287 shares of the oil and gas company’s stock worth $2,116,600,000 after purchasing an additional 743,042 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Chevron by 1.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 13,021,023 shares of the oil and gas company’s stock worth $2,036,846,000 after purchasing an additional 126,889 shares during the last quarter. Institutional investors own 72.42% of the company’s stock.

Chevron Price Performance

Shares of NYSE:CVX opened at $153.07 on Friday. The company has a quick ratio of 0.85, a current ratio of 1.16 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $279.95 billion, a PE ratio of 16.82, a price-to-earnings-growth ratio of 3.29 and a beta of 1.09. The firm’s 50 day moving average price is $146.96 and its 200-day moving average price is $152.96. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $167.11.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share for the quarter, missing the consensus estimate of $2.93 by ($0.38). The business had revenue of $51.18 billion for the quarter, compared to analysts’ expectations of $48.68 billion. Chevron had a return on equity of 13.70% and a net margin of 9.31%. The company’s revenue was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.08 EPS. Equities research analysts expect that Chevron Co. will post 10.74 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have weighed in on CVX. Wells Fargo & Company reduced their price objective on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a research note on Friday, September 27th. Royal Bank of Canada restated an “outperform” rating and issued a $170.00 price objective on shares of Chevron in a report on Tuesday, October 8th. Barclays cut their target price on Chevron from $185.00 to $168.00 and set an “overweight” rating on the stock in a research note on Thursday, October 3rd. Mizuho decreased their price target on Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a research note on Monday, September 16th. Finally, Sanford C. Bernstein cut Chevron from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $183.00 to $167.00 in a research report on Wednesday, July 17th. Five equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $173.07.

Chevron 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.