Chevron (NYSE:CVX) Sets New 52-Week Low at $110.06

Chevron Co. (NYSE:CVX) reached a new 52-week low during trading on Monday . The company traded as low as $110.06 and last traded at $110.29, with a volume of 1050311 shares. The stock had previously closed at $111.85.

CVX has been the subject of a number of research reports. Berenberg Bank restated a “hold” rating and set a $128.00 target price on shares of Chevron in a research report on Thursday, December 12th. Bank of America lowered Chevron from a “neutral” rating to an “underperform” rating in a research note on Tuesday, January 7th. Piper Jaffray Companies started coverage on Chevron in a research note on Tuesday, November 26th. They issued a “buy” rating and a $143.00 price objective on the stock. Scotiabank raised shares of Chevron from a “sector perform” rating to a “sector outperform” rating and set a $137.00 price target on the stock in a research note on Thursday. Finally, Cowen lowered their price objective on shares of Chevron from $140.00 to $134.00 and set an “outperform” rating for the company in a research report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, six have given a hold rating and nine have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $138.87.

The company has a market capitalization of $211.49 billion, a P/E ratio of 15.81, a P/E/G ratio of 4.46 and a beta of 1.02. The firm’s fifty day moving average is $118.10 and its 200 day moving average is $119.15. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.93 and a current ratio of 1.12.

Chevron (NYSE:CVX) last announced its earnings results on Friday, November 1st. The oil and gas company reported $1.36 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.47 by ($0.11). The business had revenue of $36.12 billion for the quarter, compared to analysts’ expectations of $37.69 billion. Chevron had a net margin of 8.70% and a return on equity of 8.89%. The firm’s quarterly revenue was down 17.9% on a year-over-year basis. During the same quarter last year, the firm earned $2.11 EPS. On average, analysts forecast that Chevron Co. will post 6.29 EPS for the current year.

In related news, insider David A. Inchausti sold 15,000 shares of the firm’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $119.89, for a total value of $1,798,350.00. Following the transaction, the insider now owns 15,000 shares of the company’s stock, valued at approximately $1,798,350. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Rhonda J. Morris sold 7,800 shares of the firm’s stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $119.68, for a total transaction of $933,504.00. The disclosure for this sale can be found here. Insiders have sold a total of 90,300 shares of company stock valued at $10,904,079 over the last three months. 0.31% of the stock is owned by corporate insiders.

A number of hedge funds have recently modified their holdings of CVX. Venturi Wealth Management LLC raised its position in Chevron by 646.9% during the 4th quarter. Venturi Wealth Management LLC now owns 30,139 shares of the oil and gas company’s stock valued at $3,632,000 after purchasing an additional 26,104 shares in the last quarter. Usca Ria LLC grew its position in shares of Chevron by 12.8% during the 4th quarter. Usca Ria LLC now owns 76,641 shares of the oil and gas company’s stock worth $9,236,000 after buying an additional 8,670 shares in the last quarter. Birch Capital Management LLC purchased a new position in shares of Chevron during the fourth quarter valued at $45,000. Trust Co. of Oklahoma increased its stake in shares of Chevron by 2.5% during the fourth quarter. Trust Co. of Oklahoma now owns 32,342 shares of the oil and gas company’s stock valued at $3,898,000 after buying an additional 779 shares during the period. Finally, Welch Group LLC increased its stake in shares of Chevron by 2.5% during the fourth quarter. Welch Group LLC now owns 249,332 shares of the oil and gas company’s stock valued at $30,047,000 after buying an additional 6,120 shares during the period. Institutional investors and hedge funds own 65.54% of the company’s stock.

Chevron Company Profile (NYSE:CVX)

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.

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