BTR Capital Management Inc. Boosts Stock Holdings in Chevron Co. (NYSE:CVX)
BTR Capital Management Inc. boosted its stake in shares of Chevron Co. (NYSE:CVX) by 0.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 133,631 shares of the oil and gas company’s stock after purchasing an additional 476 shares during the period. Chevron makes up approximately 1.7% of BTR Capital Management Inc.’s portfolio, making the stock its 23rd biggest holding. BTR Capital Management Inc.’s holdings in Chevron were worth $9,621,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. Winslow Evans & Crocker Inc. raised its stake in shares of Chevron by 2.3% in the 2nd quarter. Winslow Evans & Crocker Inc. now owns 29,423 shares of the oil and gas company’s stock valued at $2,625,000 after acquiring an additional 653 shares during the period. Horizon Investments LLC raised its stake in shares of Chevron by 105.2% in the 2nd quarter. Horizon Investments LLC now owns 53,029 shares of the oil and gas company’s stock valued at $4,732,000 after acquiring an additional 27,185 shares during the period. Braun Stacey Associates Inc. raised its stake in shares of Chevron by 11.3% in the 2nd quarter. Braun Stacey Associates Inc. now owns 146,455 shares of the oil and gas company’s stock valued at $13,068,000 after acquiring an additional 14,915 shares during the period. Cornerstone Wealth Management LLC raised its stake in shares of Chevron by 4.0% in the 3rd quarter. Cornerstone Wealth Management LLC now owns 17,864 shares of the oil and gas company’s stock valued at $1,286,000 after acquiring an additional 686 shares during the period. Finally, Rampart Investment Management Company LLC raised its stake in shares of Chevron by 11.8% in the 2nd quarter. Rampart Investment Management Company LLC now owns 15,901 shares of the oil and gas company’s stock valued at $1,419,000 after acquiring an additional 1,680 shares during the period. 64.01% of the stock is currently owned by institutional investors.
In other news, insider David A. Inchausti sold 5,750 shares of Chevron stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $92.00, for a total value of $529,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.28% of the company’s stock.
Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, July 31st. The oil and gas company reported ($1.59) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.93) by ($0.66). Chevron had a negative net margin of 7.41% and a positive return on equity of 3.61%. The business had revenue of $13.95 billion during the quarter, compared to analyst estimates of $21.71 billion. During the same period last year, the firm posted $1.77 earnings per share. The company’s quarterly revenue was down 64.1% on a year-over-year basis. On average, sell-side analysts expect that Chevron Co. will post 0.01 EPS for the current year.
CVX has been the topic of a number of research reports. Jefferies Financial Group reissued a “buy” rating and issued a $108.00 target price on shares of Chevron in a research note on Tuesday, August 11th. Piper Sandler downgraded shares of Chevron from an “overweight” rating to a “neutral” rating and set a $108.00 target price on the stock. in a research note on Monday, August 17th. MKM Partners began coverage on shares of Chevron in a report on Thursday, September 24th. They set a “buy” rating and a $121.00 price target for the company. Zacks Investment Research raised shares of Chevron from a “hold” rating to a “strong-buy” rating and set a $105.00 price target for the company in a report on Wednesday, July 22nd. Finally, Morgan Stanley raised their price target on shares of Chevron from $104.00 to $108.00 and gave the company an “overweight” rating in a report on Friday, August 21st. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Chevron has an average rating of “Buy” and an average price target of $107.27.
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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