Chevron Corporation (NYSE:CVX) Shares Bought by Northpointe Capital LLC
Northpointe Capital LLC boosted its stake in shares of Chevron Corporation (NYSE:CVX) by 0.0% during the first quarter, Holdings Channel reports. The firm owned 59,740 shares of the oil and gas company’s stock after buying an additional 21 shares during the period. Northpointe Capital LLC’s holdings in Chevron Corporation were worth $6,414,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Patriot Financial Group Insurance Agency LLC purchased a new position in shares of Chevron Corporation during the fourth quarter valued at $139,000. Americafirst Capital Management LLC purchased a new position in shares of Chevron Corporation during the first quarter valued at $140,000. Tortoise Investment Management LLC increased its position in shares of Chevron Corporation by 46.4% in the fourth quarter. Tortoise Investment Management LLC now owns 1,329 shares of the oil and gas company’s stock valued at $156,000 after buying an additional 421 shares during the period. Intellectus Partners LLC purchased a new position in shares of Chevron Corporation during the fourth quarter valued at $181,000. Finally, MML Investors Services LLC purchased a new position in shares of Chevron Corporation during the fourth quarter valued at $214,000. Institutional investors and hedge funds own 62.52% of the company’s stock.
Chevron Corporation (NYSE CVX) opened at 104.21 on Tuesday. The stock’s 50 day moving average is $105.41 and its 200 day moving average is $109.94. Chevron Corporation has a 52-week low of $97.53 and a 52-week high of $119.00. The company has a market cap of $197.43 billion, a price-to-earnings ratio of 67.62 and a beta of 1.23.
Chevron Corporation (NYSE:CVX) last announced its quarterly earnings data on Friday, April 28th. The oil and gas company reported $1.41 EPS for the quarter, topping the Zacks’ consensus estimate of $0.85 by $0.56. The firm had revenue of $33.42 billion during the quarter, compared to analyst estimates of $34.05 billion. Chevron Corporation had a return on equity of 3.58% and a net margin of 2.34%. The company’s revenue was up 42.0% on a year-over-year basis. During the same period last year, the company earned ($0.39) earnings per share. On average, analysts predict that Chevron Corporation will post $3.89 earnings per share for the current fiscal year.
Several brokerages have recently weighed in on CVX. Simmons decreased their target price on shares of Chevron Corporation from $129.00 to $124.00 and set an “overweight” rating for the company in a research note on Wednesday, April 19th. Exane BNP Paribas cut shares of Chevron Corporation from a “neutral” rating to an “underperform” rating and cut their price target for the company from $105.00 to $100.00 in a report on Friday, May 26th. Vetr raised shares of Chevron Corporation from a “hold” rating to a “buy” rating and set a $119.27 price target on the stock in a report on Tuesday, March 28th. Scotiabank set a $114.00 price target on shares of Chevron Corporation and gave the company a “buy” rating in a report on Monday, May 1st. Finally, Wolfe Research cut shares of Chevron Corporation from an “outperform” rating to a “market perform” rating in a report on Monday. Six analysts have rated the stock with a sell rating, five have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $116.28.
About Chevron Corporation
Chevron Corporation (Chevron) manages its investments in subsidiaries and affiliates, and provides administrative, financial, management and technology support to the United States and international subsidiaries that engage in integrated energy and chemicals operations. The Company operates through two business segments: Upstream and Downstream.
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