Key Financial Inc Sells 331 Shares of Chevron Co. (NYSE:CVX)

Key Financial Inc reduced its stake in Chevron Co. (NYSE:CVX) by 3.9% in the third quarter, Holdings Channel.com reports. The institutional investor owned 8,218 shares of the oil and gas company’s stock after selling 331 shares during the period. Key Financial Inc’s holdings in Chevron were worth $1,210,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. International Assets Investment Management LLC increased its stake in shares of Chevron by 19,404.1% in the 3rd quarter. International Assets Investment Management LLC now owns 4,901,390 shares of the oil and gas company’s stock worth $7,218,280,000 after acquiring an additional 4,876,260 shares in the last quarter. Pathway Financial Advisers LLC increased its stake in shares of Chevron by 15,750.1% during the third quarter. Pathway Financial Advisers LLC now owns 3,901,345 shares of the oil and gas company’s stock valued at $574,551,000 after purchasing an additional 3,876,731 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of Chevron by 55.5% during the second quarter. Massachusetts Financial Services Co. MA now owns 8,537,859 shares of the oil and gas company’s stock valued at $1,335,492,000 after purchasing an additional 3,048,819 shares during the last quarter. Wulff Hansen & CO. boosted its position in shares of Chevron by 15,542.0% in the 2nd quarter. Wulff Hansen & CO. now owns 1,175,653 shares of the oil and gas company’s stock worth $183,896,000 after purchasing an additional 1,168,137 shares in the last quarter. Finally, Capital International Investors grew its stake in shares of Chevron by 5.9% in the first quarter. Capital International Investors now owns 13,418,287 shares of the oil and gas company’s stock worth $2,116,600,000 after acquiring an additional 743,042 shares during the last quarter. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently issued reports on CVX shares. Sanford C. Bernstein lowered Chevron from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $183.00 to $167.00 in a research report on Wednesday, July 17th. Wells Fargo & Company decreased their target price on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a report on Friday, September 27th. UBS Group raised their price target on shares of Chevron from $189.00 to $192.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Truist Financial lowered their price objective on Chevron from $154.00 to $150.00 and set a “hold” rating on the stock in a research report on Monday, September 30th. Finally, Mizuho reduced their target price on Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a report on Monday, September 16th. Five research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, Chevron has a consensus rating of “Moderate Buy” and a consensus target price of $173.07.

Chevron Stock Performance

Shares of NYSE CVX traded up $4.25 during trading on Friday, hitting $153.07. The company had a trading volume of 11,727,977 shares, compared to its average volume of 5,864,947. The stock has a 50 day simple moving average of $146.96 and a 200 day simple moving average of $152.98. The firm has a market capitalization of $279.95 billion, a P/E ratio of 15.16, a price-to-earnings-growth ratio of 3.29 and a beta of 1.09. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.85 and a current ratio of 1.16. Chevron Co. has a 12 month low of $135.37 and a 12 month high of $167.11.

Chevron (NYSE:CVX) last released its 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 for the quarter, compared to the consensus estimate of $48.68 billion. Chevron had a return on equity of 13.70% and a net margin of 9.31%. Chevron’s revenue was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.08 EPS. As a group, analysts anticipate that Chevron Co. will post 10.74 earnings per share for the current year.

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.