Chevron Co. (NYSE:CVX) Stock Position Raised by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC lifted its position in Chevron Co. (NYSE:CVX) by 1.4% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,183,499 shares of the oil and gas company’s stock after buying an additional 16,584 shares during the quarter. Janney Montgomery Scott LLC owned about 0.06% of Chevron worth $174,294,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. New Century Financial Group LLC lifted its stake in shares of Chevron by 277.8% in the first quarter. New Century Financial Group LLC now owns 19,335 shares of the oil and gas company’s stock worth $3,050,000 after buying an additional 14,217 shares during the last quarter. Retirement Guys Formula LLC acquired a new position in Chevron during the 1st quarter worth $733,000. Insight Folios Inc boosted its holdings in Chevron by 0.8% during the first quarter. Insight Folios Inc now owns 43,394 shares of the oil and gas company’s stock valued at $6,845,000 after acquiring an additional 347 shares during the period. FCG Investment Co grew its position in shares of Chevron by 34.1% in the first quarter. FCG Investment Co now owns 5,967 shares of the oil and gas company’s stock valued at $941,000 after purchasing an additional 1,517 shares during the last quarter. Finally, American National Bank & Trust Co. VA bought a new position in shares of Chevron in the first quarter worth about $6,978,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Stock Performance

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

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

Analyst Ratings Changes

A number of research analysts have recently commented on the company. UBS Group upped their price target on Chevron from $189.00 to $192.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Sanford C. Bernstein cut shares of Chevron from an “outperform” rating to a “market perform” rating and cut their target price for the company from $183.00 to $167.00 in a research note on Wednesday, July 17th. Barclays decreased their price target on shares of Chevron from $185.00 to $168.00 and set an “overweight” rating on the stock in a research report on Thursday, October 3rd. Scotiabank reduced their target price on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. Finally, Truist Financial decreased their target price on Chevron from $154.00 to $150.00 and set a “hold” rating on the stock in a research report on Monday, September 30th. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $173.07.

About Chevron

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.