Sonora Investment Management Group LLC Increases Position in Chevron Co. (NYSE:CVX)

Sonora Investment Management Group LLC raised its position in Chevron Co. (NYSE:CVX) by 8.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 83,143 shares of the oil and gas company’s stock after purchasing an additional 6,154 shares during the period. Sonora Investment Management Group LLC’s holdings in Chevron were worth $12,042,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the stock. Fortune Financial Advisors LLC grew its position in shares of Chevron by 4.5% in the 4th quarter. Fortune Financial Advisors LLC now owns 6,480 shares of the oil and gas company’s stock valued at $939,000 after buying an additional 280 shares during the last quarter. Mediolanum International Funds Ltd grew its position in shares of Chevron by 15.6% in the 4th quarter. Mediolanum International Funds Ltd now owns 212,459 shares of the oil and gas company’s stock valued at $30,322,000 after buying an additional 28,730 shares during the last quarter. Crews Bank & Trust purchased a new position in shares of Chevron in the 4th quarter valued at $1,890,000. Lewis Asset Management LLC grew its position in shares of Chevron by 4.7% in the 4th quarter. Lewis Asset Management LLC now owns 2,580 shares of the oil and gas company’s stock valued at $374,000 after buying an additional 116 shares during the last quarter. Finally, Cairn Investment Group Inc. purchased a new position in shares of Chevron in the 4th quarter valued at $435,000. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Stock Down 4.5 %

Shares of NYSE CVX opened at $149.21 on Friday. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. Chevron Co. has a 52 week low of $135.37 and a 52 week high of $167.11. The firm has a 50-day moving average price of $153.46 and a 200 day moving average price of $151.20. The stock has a market capitalization of $268.14 billion, a price-to-earnings ratio of 16.40, a price-to-earnings-growth ratio of 1.35 and a beta of 1.12.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, January 31st. The oil and gas company reported $2.06 EPS for the quarter, missing the consensus estimate of $2.42 by ($0.36). Chevron had a net margin of 8.44% and a return on equity of 13.15%. During the same quarter last year, the firm posted $3.45 earnings per share. Equities research analysts anticipate that Chevron Co. will post 10.18 EPS for the current fiscal year.

Insider Activity at Chevron

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of the firm’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the completion of the transaction, the chief executive officer now directly owns 4,280 shares in the company, valued at approximately $685,356.40. This trade represents a 97.47 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.20% of the company’s stock.

Wall Street Analysts Forecast Growth

CVX has been the topic of a number of recent analyst reports. Bank of America assumed coverage on shares of Chevron in a research report on Thursday, October 17th. They issued a “buy” rating and a $168.00 target price on the stock. Royal Bank of Canada increased their price target on shares of Chevron from $170.00 to $175.00 and gave the stock an “outperform” rating in a research note on Monday, November 4th. Scotiabank decreased their price target on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. Wells Fargo & Company increased their price target on shares of Chevron from $171.00 to $188.00 and gave the stock an “overweight” rating in a research note on Monday, December 9th. Finally, Citigroup upgraded shares of Chevron from a “neutral” rating to a “buy” rating and increased their price target for the stock from $145.00 to $185.00 in a research note on Tuesday, November 26th. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, Chevron has an average rating of “Moderate Buy” and a consensus target price of $175.27.

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.