Intact Investment Management Inc. Boosts Stock Holdings in Chevron Co. (NYSE:CVX)

Intact Investment Management Inc. raised its position in shares of Chevron Co. (NYSE:CVX) by 10.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 69,450 shares of the oil and gas company’s stock after purchasing an additional 6,700 shares during the period. Intact Investment Management Inc.’s holdings in Chevron were worth $10,228,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of CVX. Anfield Capital Management LLC lifted its holdings in 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 purchasing an additional 118 shares during the last quarter. Cyrus J. Lawrence LLC raised its position in shares of 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 period. Krane Funds Advisors LLC purchased a new stake in shares of Chevron during the 3rd quarter valued at approximately $47,000. Livelsberger Financial Advisory bought a new position in Chevron in the 3rd quarter worth approximately $47,000. Finally, MFA Wealth Advisors LLC purchased a new position in Chevron in the 2nd quarter valued at approximately $59,000. 72.42% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CVX has been the topic of several recent research reports. Wolfe Research began coverage on Chevron in a research report on Thursday, July 18th. They set a “peer perform” rating on the stock. Truist Financial dropped their price objective on Chevron from $154.00 to $150.00 and set a “hold” rating on the stock in a report on Monday, September 30th. Scotiabank cut their target price on Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. Sanford C. Bernstein cut Chevron from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $183.00 to $167.00 in a research report on Wednesday, July 17th. Finally, Barclays raised their price objective on shares of Chevron from $168.00 to $174.00 and gave the company an “overweight” rating in a research report on Monday. Five analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $173.47.

Chevron Trading Up 1.1 %

Shares of CVX stock opened at $154.77 on Monday. 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 firm has a market cap of $283.06 billion, a P/E ratio of 16.82, a price-to-earnings-growth ratio of 3.29 and a beta of 1.09. The business has a 50-day moving average price of $146.96 and a two-hundred day moving average price of $152.93. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $167.11.

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

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.