Chevron Co. (NYSE:CVX) Shares Bought by GFS Advisors LLC

GFS Advisors LLC increased its stake in Chevron Co. (NYSE:CVX) by 45,043.7% in the third quarter, Holdings Channel.com reports. The institutional investor owned 60,944 shares of the oil and gas company’s stock after purchasing an additional 60,809 shares during the quarter. Chevron comprises about 1.9% of GFS Advisors LLC’s holdings, making the stock its 21st largest position. GFS Advisors LLC’s holdings in Chevron were worth $8,975,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of CVX. Fort Pitt Capital Group LLC grew its holdings in Chevron by 4.5% during the 3rd quarter. Fort Pitt Capital Group LLC now owns 127,287 shares of the oil and gas company’s stock valued at $18,746,000 after purchasing an additional 5,493 shares in the last quarter. Harbor Capital Advisors Inc. boosted its position in Chevron by 1.4% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 46,678 shares of the oil and gas company’s stock valued at $6,874,000 after buying an additional 644 shares during the last quarter. Janney Montgomery Scott LLC grew its stake in shares of Chevron by 1.4% during the third quarter. Janney Montgomery Scott LLC now owns 1,183,499 shares of the oil and gas company’s stock valued at $174,294,000 after acquiring an additional 16,584 shares in the last quarter. Allen Wealth Management LLC increased its position in shares of Chevron by 7.8% during the third quarter. Allen Wealth Management LLC now owns 27,067 shares of the oil and gas company’s stock worth $3,986,000 after acquiring an additional 1,966 shares during the last quarter. Finally, White Pine Investment CO lifted its stake in shares of Chevron by 2.1% in the third quarter. White Pine Investment CO now owns 39,413 shares of the oil and gas company’s stock worth $5,804,000 after acquiring an additional 800 shares in the last quarter. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have issued reports on CVX shares. Scotiabank dropped their price objective on Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Wells Fargo & Company decreased their price target on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a research report on Friday, September 27th. Bank of America began coverage on shares of Chevron in a report on Thursday, October 17th. They issued a “buy” rating and a $168.00 price target on the stock. Royal Bank of Canada reissued an “outperform” rating and set a $170.00 price objective on shares of Chevron in a report on Tuesday, October 8th. Finally, Sanford C. Bernstein cut shares of Chevron from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $183.00 to $167.00 in a research report on Wednesday, July 17th. Five equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, Chevron presently has an average rating of “Moderate Buy” and an average price target of $173.07.

Chevron Stock Performance

Shares of CVX stock opened at $153.07 on Friday. The company has a market cap of $279.95 billion, a P/E ratio of 16.82, a PEG ratio of 3.29 and a beta of 1.09. The business has a 50 day moving average of $146.96 and a two-hundred day moving average of $152.96. Chevron Co. has a 52 week low of $135.37 and a 52 week high of $167.11. The company has a quick ratio of 0.85, a current ratio of 1.16 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last released 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 net margin of 9.31% and a return on equity of 13.70%. The company had revenue of $51.18 billion for the quarter, compared to analyst estimates of $48.68 billion. During the same quarter in the prior year, the firm earned $3.08 EPS. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. As a group, analysts anticipate that Chevron Co. will post 10.74 EPS 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.