Chevron Co. (NYSE:CVX) Shares Sold by Cigna Investments Inc. New

Cigna Investments Inc. New decreased its holdings in Chevron Co. (NYSE:CVX) by 1.7% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 17,801 shares of the oil and gas company’s stock after selling 315 shares during the quarter. Cigna Investments Inc. New’s holdings in Chevron were worth $2,622,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the company. International Assets Investment Management LLC increased its stake in shares of Chevron by 19,404.1% during the 3rd quarter. International Assets Investment Management LLC now owns 4,901,390 shares of the oil and gas company’s stock valued at $7,218,280,000 after acquiring an additional 4,876,260 shares during the last quarter. Pathway Financial Advisers LLC increased its position in shares of Chevron by 15,750.1% in the 3rd quarter. Pathway Financial Advisers LLC now owns 3,901,345 shares of the oil and gas company’s stock worth $574,551,000 after purchasing an additional 3,876,731 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in Chevron by 55.5% in the second quarter. Massachusetts Financial Services Co. MA now owns 8,537,859 shares of the oil and gas company’s stock worth $1,335,492,000 after purchasing an additional 3,048,819 shares during the period. Wulff Hansen & CO. raised its position in shares of Chevron by 15,542.0% during the 2nd quarter. Wulff Hansen & CO. now owns 1,175,653 shares of the oil and gas company’s stock worth $183,896,000 after purchasing an additional 1,168,137 shares during the period. Finally, Capital International Investors grew its position in shares of Chevron by 5.9% during the first quarter. Capital International Investors now owns 13,418,287 shares of the oil and gas company’s stock worth $2,116,600,000 after acquiring an additional 743,042 shares during the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CVX has been the topic of a number of recent analyst reports. UBS Group boosted their price target on shares of Chevron from $189.00 to $192.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Royal Bank of Canada restated an “outperform” rating and issued a $170.00 price target on shares of Chevron in a research report on Tuesday, October 8th. Sanford C. Bernstein downgraded Chevron from an “outperform” rating to a “market perform” rating and dropped their target price for the company from $183.00 to $167.00 in a report on Wednesday, July 17th. Wells Fargo & Company dropped their target price on Chevron from $196.00 to $169.00 and set an “overweight” rating on the stock in a research report on Friday, September 27th. Finally, Bank of America initiated coverage on shares of Chevron in a research report on Thursday, October 17th. They set a “buy” rating and a $168.00 target price on the stock. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Chevron currently has an average rating of “Moderate Buy” and a consensus price target of $173.07.

Chevron Stock Performance

Shares of CVX stock opened at $148.80 on Friday. Chevron Co. has a 12 month low of $135.37 and a 12 month high of $167.11. The firm’s 50 day moving average is $146.85 and its 200 day moving average is $153.01. The company has a current ratio of 1.16, a quick ratio of 0.85 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $272.14 billion, a P/E ratio of 14.73, a PEG ratio of 3.27 and a beta of 1.09.

Chevron (NYSE:CVX) last posted 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). Chevron had a return on equity of 13.70% and a net margin of 9.31%. The company had revenue of $51.18 billion for the quarter, compared to the consensus estimate of $48.68 billion. During the same period in the prior year, the firm posted $3.08 earnings per share. The business’s revenue was up 4.7% on a year-over-year basis. On average, sell-side analysts anticipate that Chevron Co. will post 10.74 earnings per share for the current year.

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.