Stephens Inc. AR Buys 49,376 Shares of Chevron Co. (NYSE:CVX)

Stephens Inc. AR boosted its stake in shares of Chevron Co. (NYSE:CVX) by 30.5% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 211,285 shares of the oil and gas company’s stock after buying an additional 49,376 shares during the period. Stephens Inc. AR’s holdings in Chevron were worth $31,116,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Anfield Capital Management LLC boosted its position in shares of Chevron by 118.0% during the second quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock valued at $34,000 after buying an additional 118 shares during the last quarter. Cyrus J. Lawrence LLC increased its holdings in 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 buying an additional 100 shares in the last quarter. Krane Funds Advisors LLC bought a new stake in Chevron in the 3rd quarter worth about $47,000. Livelsberger Financial Advisory bought a new stake in Chevron in the 3rd quarter worth about $47,000. Finally, MFA Wealth Advisors LLC bought a new stake in Chevron in the 2nd quarter worth about $59,000. Institutional investors own 72.42% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on CVX. Wells Fargo & Company reduced their price objective on Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a report on Friday, September 27th. Mizuho reduced their price objective on Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a report on Monday, September 16th. Sanford C. Bernstein downgraded Chevron from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $183.00 to $167.00 in a report on Wednesday, July 17th. Bank of America began coverage on Chevron in a research note on Thursday, October 17th. They set a “buy” rating and a $168.00 price target for the company. Finally, Wolfe Research began coverage on shares of Chevron in a research report on Thursday, July 18th. They set a “peer perform” rating for the company. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, Chevron has a consensus rating of “Moderate Buy” and an average target price of $173.07.

Chevron Trading Up 0.5 %

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

Chevron (NYSE:CVX) last released its earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.93 by ($0.38). The firm had revenue of $51.18 billion during the quarter, compared to analysts’ expectations of $48.68 billion. Chevron had a return on equity of 13.70% and a net margin of 9.31%. The company’s revenue was up 4.7% compared to the same quarter last year. During the same period in the prior year, the company posted $3.08 earnings per share. As a group, research analysts predict that Chevron Co. will post 10.74 earnings per share for the current year.

Chevron 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.