Naples Global Advisors LLC boosted its holdings in shares of Chevron Co. (NYSE:CVX) by 25.8% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 19,536 shares of the oil and gas company’s stock after acquiring an additional 4,006 shares during the quarter. Naples Global Advisors LLC’s holdings in Chevron were worth $1,407,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. State Street Corp grew its stake in Chevron by 2.6% during the first quarter. State Street Corp now owns 117,055,351 shares of the oil and gas company’s stock worth $8,481,831,000 after purchasing an additional 2,914,316 shares during the period. Morgan Stanley raised its holdings in Chevron by 2.0% in the 1st quarter. Morgan Stanley now owns 17,804,427 shares of the oil and gas company’s stock valued at $1,290,108,000 after acquiring an additional 341,664 shares during the last quarter. Cox Capital Mgt LLC raised its holdings in Chevron by 3.0% in the 2nd quarter. Cox Capital Mgt LLC now owns 6,862 shares of the oil and gas company’s stock valued at $612,000 after acquiring an additional 201 shares during the last quarter. Ellenbecker Investment Group raised its holdings in Chevron by 12.9% in the 2nd quarter. Ellenbecker Investment Group now owns 3,791 shares of the oil and gas company’s stock valued at $338,000 after acquiring an additional 433 shares during the last quarter. Finally, First Financial Bank Trust Division raised its holdings in Chevron by 3.6% in the 2nd quarter. First Financial Bank Trust Division now owns 84,307 shares of the oil and gas company’s stock valued at $7,523,000 after acquiring an additional 2,891 shares during the last quarter. Institutional investors own 64.01% of the company’s stock.

In related news, insider David A. Inchausti sold 5,750 shares of Chevron stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $92.00, for a total transaction of $529,000.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 0.28% of the stock is owned by company insiders.

Shares of CVX traded down $1.23 during midday trading on Tuesday, reaching $69.71. The stock had a trading volume of 1,084,901 shares, compared to its average volume of 10,782,414. Chevron Co. has a 1-year low of $51.60 and a 1-year high of $122.94. The company’s fifty day simple moving average is $74.53 and its two-hundred day simple moving average is $85.34. The company has a market cap of $132.47 billion, a price-to-earnings ratio of -14.96 and a beta of 1.26. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.14 and a quick ratio of 0.87.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, July 31st. The oil and gas company reported ($1.59) earnings per share for the quarter, missing the Zacks’ 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 firm had revenue of $13.95 billion during the quarter, compared to analyst estimates of $21.71 billion. During the same quarter in the previous year, the business posted $1.77 earnings per share. Chevron’s revenue for the quarter was down 64.1% compared to the same quarter last year. On average, sell-side analysts forecast that Chevron Co. will post -0.36 earnings per share for the current year.

CVX has been the subject of several analyst reports. Truist Securiti dropped their price target on shares of Chevron from $113.00 to $112.00 and set a “buy” rating for the company in a research note on Friday, October 9th. Morgan Stanley lowered their price objective on shares of Chevron from $108.00 to $105.00 and set an “overweight” rating for the company in a research report on Monday, October 19th. Bank of America raised shares of Chevron from a “neutral” rating to a “buy” rating and set a $96.00 price objective for the company in a research report on Monday, September 28th. SunTrust Banks assumed coverage on shares of Chevron in a research report on Thursday, July 23rd. They set a “buy” rating and a $120.00 price objective for the company. Finally, MKM Partners assumed coverage on shares of Chevron in a research report on Thursday, September 24th. They set a “buy” rating and a $121.00 price objective for the company. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. Chevron currently has a consensus rating of “Buy” and a consensus target price of $107.48.

Chevron Company Profile

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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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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