Invesco LLC Buys 169 Shares of Chevron Co. (NYSE:CVX)

by · The Cerbat Gem

Invesco LLC lifted its stake in Chevron Co. (NYSE:CVX – Free Report) by 1.5% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,658 shares of the oil and gas company’s stock after purchasing an additional 169 shares during the period. Invesco LLC’s holdings in Chevron were worth $1,717,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Anfield Capital Management LLC boosted its position in shares of Chevron by 118.0% in the 2nd quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock worth $34,000 after purchasing an additional 118 shares during the last quarter. Cyrus J. Lawrence LLC boosted its position in shares of Chevron by 66.7% in the 2nd quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock worth $39,000 after purchasing an additional 100 shares during the last quarter. Livelsberger Financial Advisory bought a new position in shares of Chevron in the 3rd quarter worth $47,000. Krane Funds Advisors LLC bought a new position in Chevron during the third quarter worth about $47,000. Finally, MFA Wealth Advisors LLC acquired a new position in Chevron in the second quarter valued at about $59,000. 72.42% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Barclays reduced their price objective on Chevron from $185.00 to $168.00 and set an “overweight” rating for the company in a research report on Thursday, October 3rd. Truist Financial lowered their target price on Chevron from $154.00 to $150.00 and set a “hold” rating on the stock in a research note on Monday, September 30th. Sanford C. Bernstein lowered Chevron from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $183.00 to $167.00 in a research note on Wednesday, July 17th. UBS Group boosted their price objective on Chevron from $189.00 to $192.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Finally, Scotiabank reduced their price objective on Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. Five equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $173.07.

Get Our Latest Research Report on CVX

Chevron Trading Up 2.9 %

Shares of NYSE:CVX traded up $4.25 during midday trading on Friday, reaching $153.07. The company’s stock had a trading volume of 11,727,977 shares, compared to its average volume of 5,864,947. The firm has a market capitalization of $279.95 billion, a price-to-earnings ratio of 15.16, a PEG ratio of 3.29 and a beta of 1.09. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.85 and a current ratio of 1.16. The firm has a 50 day moving average price of $146.96 and a two-hundred day moving average price of $152.98. Chevron Co. has a fifty-two week low of $135.37 and a fifty-two week high of $167.11.

Chevron (NYSE:CVX – Get Free Report) last announced its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). The business had revenue of $51.18 billion during the quarter, compared to analyst estimates of $48.68 billion. Chevron had a net margin of 9.31% and a return on equity of 13.70%. The firm’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.08 earnings per share. As a group, analysts forecast that Chevron Co. will post 10.74 earnings per share for the current year.

Chevron Company Profile

(Free Report)

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.

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