PNC Financial Services Group Inc. Decreases Position in Chevron Corporation (NYSE:CVX) – MarketBeat

PNC Financial Services Group Inc. cut its position in Chevron Corporation (NYSE:CVX – Free Report) by 0.3% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 3,852,456 shares of the oil and gas company’s stock after selling 11,188 shares during the period. PNC Financial Services Group Inc. owned approximately 0.22% of Chevron worth $644,477,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. Sage Capital Advisors llc raised its holdings in shares of Chevron by 2.2% during the first quarter. Sage Capital Advisors llc now owns 42,421 shares of the oil and gas company’s stock valued at $7,097,000 after purchasing an additional 919 shares during the last quarter. CCG Wealth Management LLC raised its holdings in shares of Chevron by 2.3% during the first quarter. CCG Wealth Management LLC now owns 6,334 shares of the oil and gas company’s stock valued at $1,060,000 after purchasing an additional 145 shares during the last quarter. Ignite Planners LLC raised its holdings in shares of Chevron by 14.1% during the first quarter. Ignite Planners LLC now owns 12,316 shares of the oil and gas company’s stock valued at $2,060,000 after purchasing an additional 1,519 shares during the last quarter. Vista Capital Partners Inc. raised its holdings in shares of Chevron by 9.1% during the first quarter. Vista Capital Partners Inc. now owns 5,938 shares of the oil and gas company’s stock valued at $993,000 after purchasing an additional 495 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund raised its holdings in shares of Chevron by 0.5% during the first quarter. Oregon Public Employees Retirement Fund now owns 143,914 shares of the oil and gas company’s stock valued at $24,075,000 after purchasing an additional 675 shares during the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Stock Performance

CVX opened at $151.33 on Friday. The firm has a market cap of $264.28 billion, a P/E ratio of 17.29, a PEG ratio of 2.39 and a beta of 0.87. Chevron Corporation has a 1-year low of $132.04 and a 1-year high of $168.96. The company has a 50 day simple moving average of $146.86 and a two-hundred day simple moving average of $148.87. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.08 and a quick ratio of 0.82.

Chevron (NYSE:CVX – Get Free Report) last issued its earnings results on Friday, August 1st. The oil and gas company reported $1.77 earnings per share for the quarter, topping analysts’ consensus estimates of $1.58 by $0.19. Chevron had a net margin of 7.76% and a return on equity of 10.73%. The firm had revenue of $44.82 billion during the quarter, compared to analyst estimates of $44.59 billion. During the same quarter in the prior year, the business earned $2.55 earnings per share. Chevron’s revenue for the quarter was down 12.4% on a year-over-year basis. Equities analysts forecast that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Jefferies Financial Group reissued a “buy” rating on shares of Chevron in a report on Friday, July 18th. BNP Paribas cut shares of Chevron to a “cautious” rating in a report on Tuesday, April 15th. DZ Bank lowered shares of Chevron from a “buy” rating to a “sell” rating and set a $130.00 target price for the company. in a research report on Tuesday, May 6th. Evercore ISI restated an “outperform” rating and set a $180.00 target price on shares of Chevron in a research report on Thursday. Finally, Piper Sandler restated an “overweight” rating on shares of Chevron in a research report on Tuesday, July 15th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Chevron has a consensus rating of “Hold” and a consensus price target of $163.18.

Check Out Our Latest Stock Analysis on CVX

About Chevron

(Free Report)

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.

Further Reading

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