TRH Financial LLC Raises Stake in Chevron Co. (NYSE:CVX)

TRH Financial LLC lifted its position in shares of Chevron Co. (NYSE:CVX) by 28.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 21,686 shares of the oil and gas company’s stock after buying an additional 4,792 shares during the quarter. TRH Financial LLC’s holdings in Chevron were worth $1,561,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of CVX. State Street Corp grew its holdings in shares of Chevron by 2.6% during the first quarter. State Street Corp now owns 117,055,351 shares of the oil and gas company’s stock worth $8,481,831,000 after buying an additional 2,914,316 shares in the last quarter. Balyasny Asset Management LLC purchased a new stake in shares of Chevron during the first quarter worth about $3,467,000. Rice Hall James & Associates LLC grew its holdings in shares of Chevron by 6.2% during the first quarter. Rice Hall James & Associates LLC now owns 6,017 shares of the oil and gas company’s stock worth $436,000 after buying an additional 350 shares in the last quarter. Pacific Center for Financial Services grew its holdings in shares of Chevron by 9.1% during the first quarter. Pacific Center for Financial Services now owns 24,762 shares of the oil and gas company’s stock worth $1,794,000 after buying an additional 2,065 shares in the last quarter. Finally, CIBC World Markets Inc. grew its holdings in shares of Chevron by 6.8% during the first quarter. CIBC World Markets Inc. now owns 257,267 shares of the oil and gas company’s stock worth $18,642,000 after buying an additional 16,479 shares in the last quarter. Institutional investors and hedge funds own 64.01% of the company’s stock.

Shares of NYSE:CVX opened at $72.89 on Friday. The company has a current ratio of 1.14, a quick ratio of 0.87 and a debt-to-equity ratio of 0.23. The company has a fifty day simple moving average of $76.82 and a 200 day simple moving average of $85.44. The firm has a market cap of $136.11 billion, a PE ratio of -15.64, a price-to-earnings-growth ratio of 2,483.67 and a beta of 1.26. Chevron Co. has a 12-month low of $51.60 and a 12-month high of $122.94.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, July 31st. The oil and gas company reported ($1.59) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.93) by ($0.66). The company had revenue of $13.95 billion during the quarter, compared to the consensus estimate of $21.71 billion. Chevron had a positive return on equity of 3.61% and a negative net margin of 7.41%. The firm’s quarterly revenue was down 64.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.77 EPS. As a group, equities research analysts forecast that Chevron Co. will post 0.01 EPS for the current fiscal year.

In other Chevron news, insider David A. Inchausti sold 5,750 shares of the business’s stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $92.00, for a total transaction of $529,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.28% of the stock is currently owned by insiders.

A number of equities research analysts have recently commented on CVX shares. Bank of America upgraded shares of Chevron from a “neutral” rating to a “buy” rating and set a $96.00 price target for the company in a report on Monday, September 28th. Zacks Investment Research raised shares of Chevron from a “hold” rating to a “strong-buy” rating and set a $105.00 target price on the stock in a research report on Wednesday, July 22nd. Morgan Stanley raised their target price on shares of Chevron from $104.00 to $108.00 and gave the stock an “overweight” rating in a research report on Friday, August 21st. Piper Sandler cut shares of Chevron from an “overweight” rating to a “neutral” rating and set a $108.00 target price on the stock. in a research report on Monday, August 17th. Finally, HSBC decreased their target price on shares of Chevron from $93.00 to $86.00 and set a “hold” rating on the stock in a research report on Wednesday. One analyst has rated the stock with a sell rating, ten have given a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $107.27.

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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