Farmers & Merchants Investments Inc. raised its position in shares of Chevron Co. (NYSE:CVX) by 3.0% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 82,822 shares of the oil and gas company’s stock after acquiring an additional 2,409 shares during the period. Farmers & Merchants Investments Inc.’s holdings in Chevron were worth $10,471,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also recently bought and sold shares of the company. Reilly Herbert Faulkner III increased its holdings in shares of Chevron by 4.5% during the first quarter. Reilly Herbert Faulkner III now owns 30,697 shares of the oil and gas company’s stock valued at $3,501,000 after acquiring an additional 1,334 shares in the last quarter. Fiera Capital Corp increased its holdings in Chevron by 1.6% in the 1st quarter. Fiera Capital Corp now owns 298,283 shares of the oil and gas company’s stock worth $34,016,000 after buying an additional 4,800 shares during the period. AMG National Trust Bank increased its holdings in Chevron by 19.6% in the 2nd quarter. AMG National Trust Bank now owns 6,354 shares of the oil and gas company’s stock worth $803,000 after buying an additional 1,041 shares during the period. Mycio Wealth Partners LLC increased its holdings in Chevron by 16.8% in the 2nd quarter. Mycio Wealth Partners LLC now owns 9,795 shares of the oil and gas company’s stock worth $1,238,000 after buying an additional 1,412 shares during the period. Finally, North Star Investment Management Corp. increased its holdings in Chevron by 12.6% in the 2nd quarter. North Star Investment Management Corp. now owns 21,054 shares of the oil and gas company’s stock worth $2,662,000 after buying an additional 2,358 shares during the period. Institutional investors and hedge funds own 64.82% of the company’s stock.
A number of brokerages have recently commented on CVX. Goldman Sachs Group reaffirmed a “buy” rating and set a $141.00 price objective on shares of Chevron in a research note on Tuesday, July 31st. Barclays increased their target price on Chevron from $145.00 to $148.00 and gave the company an “overweight” rating in a research report on Wednesday, July 11th. Royal Bank of Canada reiterated a “neutral” rating and set a $145.00 target price on shares of Chevron in a research report on Monday, July 2nd. ValuEngine lowered Chevron from a “buy” rating to a “hold” rating in a report on Thursday, August 2nd. Finally, Redburn Partners lowered Chevron from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $130.00 to $115.00 in a report on Wednesday, October 3rd. Nine investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $136.83.
Chevron (NYSE:CVX) last posted its earnings results on Friday, July 27th. The oil and gas company reported $1.78 earnings per share for the quarter, missing the consensus estimate of $2.09 by ($0.31). The business had revenue of $42.24 billion for the quarter, compared to analysts’ expectations of $46.62 billion. Chevron had a return on equity of 6.89% and a net margin of 7.87%. Chevron’s revenue for the quarter was up 22.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.77 EPS. Analysts predict that Chevron Co. will post 8.17 EPS for the current year.
In other Chevron news, insider James William Johnson sold 4,750 shares of the business’s stock in a transaction that occurred on Thursday, September 13th. The stock was sold at an average price of $116.00, for a total value of $551,000.00. Following the completion of the sale, the insider now owns 4,750 shares in the company, valued at $551,000. The sale was disclosed in a document filed with the SEC, which is available through this link. 0.46% of the stock is currently owned by insiders.
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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