Brightworth Increases Holdings in Chevron Co. (CVX)

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Brightworth boosted its holdings in shares of Chevron Co. (NYSE:CVX) by 1.9% in the third quarter, Holdings Channel reports. The fund owned 56,499 shares of the oil and gas company’s stock after buying an additional 1,059 shares during the quarter. Chevron comprises about 1.5% of Brightworth’s investment portfolio, making the stock its 19th biggest holding. Brightworth’s holdings in Chevron were worth $6,909,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Private Capital Group LLC grew its holdings in Chevron by 4.6% in the second quarter. Private Capital Group LLC now owns 9,281 shares of the oil and gas company’s stock valued at $1,173,000 after purchasing an additional 412 shares during the period. Strategic Financial Services Inc grew its holdings in Chevron by 1.1% in the second quarter. Strategic Financial Services Inc now owns 37,454 shares of the oil and gas company’s stock valued at $4,735,000 after purchasing an additional 413 shares during the period. EFG Asset Management Americas Corp. grew its holdings in Chevron by 1.2% in the third quarter. EFG Asset Management Americas Corp. now owns 35,320 shares of the oil and gas company’s stock valued at $4,319,000 after purchasing an additional 418 shares during the period. Burns J W & Co. Inc. NY grew its holdings in Chevron by 0.6% in the third quarter. Burns J W & Co. Inc. NY now owns 66,535 shares of the oil and gas company’s stock valued at $8,136,000 after purchasing an additional 421 shares during the period. Finally, Andesa Financial Management Inc. grew its holdings in Chevron by 2.9% in the second quarter. Andesa Financial Management Inc. now owns 15,072 shares of the oil and gas company’s stock valued at $1,906,000 after purchasing an additional 426 shares during the period. Institutional investors own 64.59% of the company’s stock.

A number of equities research analysts recently issued reports on the stock. Royal Bank of Canada restated a “hold” rating and issued a $130.00 target price on shares of Chevron in a report on Monday, January 7th. Raymond James set a $135.00 price objective on shares of Chevron and gave the stock a “buy” rating in a research note on Thursday, December 20th. Societe Generale decreased their price objective on shares of Chevron from $150.00 to $128.00 and set a “buy” rating for the company in a research note on Wednesday, December 19th. Credit Suisse Group set a $138.00 price objective on shares of Chevron and gave the stock a “buy” rating in a research note on Saturday, December 8th. Finally, Bank of America reiterated a “neutral” rating and set a $140.00 price objective (up from $135.00) on shares of Chevron in a research note on Monday, November 5th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $135.59.

Shares of CVX stock opened at $112.54 on Friday. The firm has a market capitalization of $216.43 billion, a PE ratio of 30.42, a PEG ratio of 2.11 and a beta of 1.09. The company has a quick ratio of 1.01, a current ratio of 1.22 and a debt-to-equity ratio of 0.19. Chevron Co. has a twelve month low of $100.22 and a twelve month high of $133.88.

Chevron (NYSE:CVX) last announced its earnings results on Friday, November 2nd. The oil and gas company reported $2.11 earnings per share for the quarter, beating the consensus estimate of $2.06 by $0.05. The business had revenue of $43.99 billion during the quarter, compared to the consensus estimate of $47.17 billion. Chevron had a net margin of 8.79% and a return on equity of 8.19%. The business’s quarterly revenue was up 21.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.03 earnings per share. On average, research analysts predict that Chevron Co. will post 7.75 EPS for the current year.

In other news, insider James William Johnson sold 9,500 shares of the company’s stock in a transaction on Thursday, November 29th. The shares were sold at an average price of $118.59, for a total value of $1,126,605.00. Following the completion of the transaction, the insider now directly owns 9,500 shares in the company, valued at $1,126,605. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.46% of the stock is currently owned by corporate insiders.

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Chevron Company Profile

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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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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