AdvisorShares Investments LLC Raises Holdings in Chevron Corporation $CVX

AdvisorShares Investments LLC raised its stake in shares of Chevron Corporation (NYSE:CVX) by 27.6% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,318 shares of the oil and gas company’s stock after buying an additional 718 shares during the quarter. AdvisorShares Investments LLC’s holdings in Chevron were worth $475,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Golden State Wealth Management LLC boosted its holdings in Chevron by 3.1% in the first quarter. Golden State Wealth Management LLC now owns 7,835 shares of the oil and gas company’s stock valued at $1,311,000 after acquiring an additional 239 shares during the last quarter. Private Trust Co. NA boosted its holdings in Chevron by 4.1% in the first quarter. Private Trust Co. NA now owns 31,476 shares of the oil and gas company’s stock valued at $5,266,000 after acquiring an additional 1,251 shares during the last quarter. Glassy Mountain Advisors Inc. acquired a new position in Chevron in the first quarter valued at $209,000. Strategic Financial Concepts LLC boosted its holdings in Chevron by 23.1% in the first quarter. Strategic Financial Concepts LLC now owns 6,588 shares of the oil and gas company’s stock valued at $1,102,000 after acquiring an additional 1,236 shares during the last quarter. Finally, Revisor Wealth Management LLC boosted its holdings in Chevron by 79.2% in the first quarter. Revisor Wealth Management LLC now owns 3,545 shares of the oil and gas company’s stock valued at $593,000 after acquiring an additional 1,567 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Stock Down 1.1%

Shares of Chevron stock opened at $153.36 on Friday. The company has a quick ratio of 0.74, a current ratio of 1.00 and a debt-to-equity ratio of 0.16. The firm has a market cap of $265.00 billion, a P/E ratio of 19.74, a P/E/G ratio of 4.40 and a beta of 0.84. Chevron Corporation has a fifty-two week low of $132.04 and a fifty-two week high of $168.96. The business has a 50-day moving average price of $156.08 and a 200 day moving average price of $148.85.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, August 1st. The oil and gas company reported $1.77 earnings per share for the quarter, beating the consensus estimate of $1.58 by $0.19. The firm had revenue of $44.82 billion during the quarter, compared to analyst estimates of $44.59 billion. Chevron had a return on equity of 9.90% and a net margin of 7.02%.Chevron’s quarterly revenue was down 12.4% on a year-over-year basis. During the same period in the previous year, the company earned $2.55 earnings per share. On average, sell-side analysts forecast that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Insider Activity

In related news, Director John B. Hess sold 375,000 shares of the business’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $158.30, for a total value of $59,362,500.00. Following the completion of the sale, the director directly owned 1,403,045 shares of the company’s stock, valued at $222,102,023.50. The trade was a 21.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Alana K. Knowles sold 3,978 shares of the firm’s stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $160.00, for a total transaction of $636,480.00. Following the completion of the transaction, the vice president owned 1,181 shares in the company, valued at approximately $188,960. The trade was a 77.11% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.21% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts recently weighed in on CVX shares. Morgan Stanley started coverage on Chevron in a report on Monday, August 4th. They issued an “overweight” rating and a $174.00 target price on the stock. Raymond James Financial reiterated an “outperform” rating and issued a $160.00 target price (down previously from $170.00) on shares of Chevron in a report on Friday, October 17th. Wells Fargo & Company began coverage on Chevron in a research report on Friday, October 17th. They issued an “overweight” rating and a $190.00 price objective on the stock. UBS Group raised their price objective on Chevron from $186.00 to $197.00 and gave the company a “buy” rating in a research report on Wednesday, August 20th. Finally, Evercore ISI reissued an “outperform” rating and issued a $180.00 price objective on shares of Chevron in a research report on Thursday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $165.25.

About Chevron

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.