Guild Investment Management Inc. Purchases New Holdings in Chevron Co. (CVX)

Guild Investment Management Inc. purchased a new position in shares of Chevron Co. (NYSE:CVX) in the 3rd quarter, HoldingsChannel.com reports. The firm purchased 1,725 shares of the oil and gas company’s stock, valued at approximately $211,000.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Morgan Stanley increased its stake in shares of Chevron by 3.8% in the 2nd quarter. Morgan Stanley now owns 16,986,164 shares of the oil and gas company’s stock valued at $2,147,560,000 after acquiring an additional 626,514 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Chevron by 1.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 13,217,173 shares of the oil and gas company’s stock valued at $1,671,000,000 after acquiring an additional 190,647 shares in the last quarter. Schwab Charles Investment Management Inc. increased its stake in shares of Chevron by 2.3% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 8,933,341 shares of the oil and gas company’s stock valued at $1,129,443,000 after acquiring an additional 204,547 shares in the last quarter. Standard Life Aberdeen plc increased its stake in shares of Chevron by 78.9% in the 2nd quarter. Standard Life Aberdeen plc now owns 6,790,689 shares of the oil and gas company’s stock valued at $858,547,000 after acquiring an additional 2,994,612 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of Chevron by 10.3% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 6,391,206 shares of the oil and gas company’s stock valued at $808,040,000 after acquiring an additional 594,253 shares in the last quarter. Hedge funds and other institutional investors own 64.59% of the company’s stock.

CVX opened at $112.54 on Friday. The company has a current ratio of 1.22, a quick ratio of 1.01 and a debt-to-equity ratio of 0.19. The firm has a market cap of $216.43 billion, a price-to-earnings ratio of 30.42, a PEG ratio of 2.11 and a beta of 1.09. Chevron Co. has a 1 year low of $100.22 and a 1 year high of $133.88.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, November 2nd. The oil and gas company reported $2.11 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.06 by $0.05. The firm had revenue of $43.99 billion for the quarter, compared to the consensus estimate of $47.17 billion. Chevron had a net margin of 8.79% and a return on equity of 8.19%. The business’s revenue for the quarter was up 21.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.03 EPS. On average, analysts expect that Chevron Co. will post 7.75 EPS for the current fiscal year.

A number of brokerages have commented on CVX. Royal Bank of Canada restated a “hold” rating and set a $130.00 price target on shares of Chevron in a research note on Monday, January 7th. Zacks Investment Research lowered shares of Chevron from a “hold” rating to a “strong sell” rating in a research note on Thursday, January 3rd. Raymond James set a $135.00 price target on shares of Chevron and gave the company a “buy” rating in a research note on Thursday, December 20th. Credit Suisse Group restated a “buy” rating and set a $130.00 price target on shares of Chevron in a research note on Wednesday, December 19th. Finally, Societe Generale decreased their price target on shares of Chevron from $150.00 to $128.00 and set a “buy” rating for the company in a research note on Wednesday, December 19th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $135.59.

In other Chevron news, insider James William Johnson sold 9,500 shares of Chevron stock in a transaction on Thursday, November 29th. The shares were sold at an average price of $118.59, for a total transaction of $1,126,605.00. Following the transaction, the insider now directly owns 9,500 shares of the company’s stock, valued at approximately $1,126,605. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.46% of the stock is owned by insiders.

COPYRIGHT VIOLATION NOTICE: This news story was first published by WKRB News and is the sole property of of WKRB News. If you are viewing this news story on another publication, it was copied illegally and reposted in violation of U.S. & international copyright legislation. The original version of this news story can be viewed at https://www.wkrb13.com/2019/01/12/guild-investment-management-inc-purchases-new-holdings-in-chevron-co-cvx.html.

About Chevron

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.

Featured Story: What is a front-end load?

Want to see what other hedge funds are holding CVX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Chevron Co. (NYSE:CVX).

Institutional Ownership by Quarter for Chevron (NYSE:CVX)

Receive News & Ratings for Chevron Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chevron and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply