Latitude Advisors LLC Cuts Stake in Chevron Co. (NYSE:CVX)

Latitude Advisors LLC reduced its position in Chevron Co. (NYSE:CVX) by 2.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,003 shares of the oil and gas company’s stock after selling 104 shares during the quarter. Latitude Advisors LLC’s holdings in Chevron were worth $590,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Anfield Capital Management LLC grew its holdings in shares of Chevron by 118.0% during the second quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock valued at $34,000 after buying an additional 118 shares during the last quarter. Cyrus J. Lawrence LLC boosted its holdings in Chevron by 66.7% in the second quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock valued at $39,000 after purchasing an additional 100 shares during the last quarter. Livelsberger Financial Advisory purchased a new stake in Chevron in the third quarter valued at $47,000. Krane Funds Advisors LLC purchased a new stake in Chevron in the third quarter valued at $47,000. Finally, MFA Wealth Advisors LLC purchased a new stake in Chevron in the second quarter valued at $59,000. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Stock Up 2.9 %

Shares of NYSE CVX opened at $153.07 on Friday. The company has a 50 day simple moving average of $146.96 and a 200-day simple moving average of $152.96. The company has a market capitalization of $279.95 billion, a P/E ratio of 16.82, a P/E/G ratio of 3.29 and a beta of 1.09. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.16 and a quick ratio of 0.85. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $167.11.

Chevron (NYSE:CVX) last posted its 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). Chevron had a net margin of 9.31% and a return on equity of 13.70%. The company had revenue of $51.18 billion during the quarter, compared to analyst estimates of $48.68 billion. During the same quarter last year, the business posted $3.08 EPS. The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. On average, equities research analysts predict that Chevron Co. will post 10.74 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CVX. Wolfe Research began coverage on shares of Chevron in a research report on Thursday, July 18th. They issued a “peer perform” rating for the company. Barclays decreased their price objective on shares of Chevron from $185.00 to $168.00 and set an “overweight” rating for the company in a research report on Thursday, October 3rd. Mizuho decreased their price objective on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a research report on Monday, September 16th. Bank of America began coverage on shares of Chevron in a research report on Thursday, October 17th. They issued a “buy” rating and a $168.00 price objective for the company. Finally, Wells Fargo & Company decreased their price objective on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a research report on Friday, September 27th. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $173.07.

Chevron Company 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.