Guinness Atkinson Asset Management Inc decreased its stake in shares of Chevron Co. (NYSE:CVX – Free Report) by 4.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,822 shares of the oil and gas company’s stock after selling 163 shares during the period. Guinness Atkinson Asset Management Inc’s holdings in Chevron were worth $644,000 at the end of the most recent reporting period.
Several other institutional investors have also added to or reduced their stakes in CVX. Bank Julius Baer & Co. Ltd Zurich grew its stake in Chevron by 100,509.4% during the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 426,861,553 shares of the oil and gas company’s stock valued at $67,166,665,000 after acquiring an additional 426,437,277 shares in the last quarter. Morgan Stanley lifted its holdings in Chevron by 12.7% during the 4th quarter. Morgan Stanley now owns 32,906,060 shares of the oil and gas company’s stock valued at $5,906,309,000 after buying an additional 3,711,923 shares in the last quarter. Moneta Group Investment Advisors LLC lifted its holdings in Chevron by 104,997.3% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 24,490,824 shares of the oil and gas company’s stock valued at $4,395,858,000 after buying an additional 24,467,521 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Chevron by 0.8% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 23,867,243 shares of the oil and gas company’s stock valued at $3,732,044,000 after buying an additional 199,759 shares in the last quarter. Finally, Norges Bank bought a new stake in Chevron during the 4th quarter valued at about $3,058,235,000. 68.87% of the stock is currently owned by institutional investors.
Chevron Stock Performance
Shares of CVX traded up $0.58 during trading hours on Friday, hitting $149.15. The stock had a trading volume of 9,148,482 shares, compared to its average volume of 9,223,539. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.97 and a current ratio of 1.25. The firm has a 50-day moving average price of $146.49 and a 200 day moving average price of $155.02. Chevron Co. has a fifty-two week low of $139.62 and a fifty-two week high of $184.23. The firm has a market capitalization of $281.56 billion, a price-to-earnings ratio of 11.03, a PEG ratio of 0.75 and a beta of 1.12.
Wall Street Analyst Weigh In
CVX has been the topic of a number of research reports. StockNews.com initiated coverage on shares of Chevron in a research report on Thursday, October 5th. They set a “hold” rating on the stock. Royal Bank of Canada reissued an “outperform” rating and set a $180.00 target price on shares of Chevron in a research report on Tuesday, October 24th. Bank of America raised shares of Chevron from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $190.00 to $200.00 in a research report on Monday, October 30th. Scotiabank downgraded shares of Chevron from a “sector outperform” rating to a “sector perform” rating and set a $170.00 price objective on the stock. in a research report on Tuesday, January 16th. Finally, TD Cowen downgraded shares of Chevron from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $170.00 to $150.00 in a research report on Tuesday. Six research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $181.53.
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; liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and processing, transportation, storage, and marketing of natural gas, as well as a gas-to-liquids plant.
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