QRG Capital Management Inc. Sells 10,229 Shares of Chevron Co. (NYSE:CVX)

QRG Capital Management Inc. lowered its stake in Chevron Co. (NYSE:CVX) by 4.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 237,734 shares of the oil and gas company’s stock after selling 10,229 shares during the period. QRG Capital Management Inc.’s holdings in Chevron were worth $35,011,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the business. Anfield Capital Management LLC lifted its position in Chevron by 118.0% during the 2nd quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock valued at $34,000 after acquiring an additional 118 shares during the period. Cyrus J. Lawrence LLC grew its stake in Chevron by 66.7% during the second quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock valued at $39,000 after acquiring an additional 100 shares in the last quarter. Livelsberger Financial Advisory bought a new position in shares of Chevron during the 3rd quarter valued at approximately $47,000. Krane Funds Advisors LLC purchased a new position in Chevron in the third quarter worth about $47,000. Finally, MFA Wealth Advisors LLC purchased a new position in Chevron in the second quarter worth about $59,000. Institutional investors own 72.42% of the company’s stock.

Analyst Upgrades and Downgrades

CVX has been the subject of several analyst reports. Sanford C. Bernstein downgraded shares of Chevron from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $183.00 to $167.00 in a research note on Wednesday, July 17th. Royal Bank of Canada reiterated an “outperform” rating and issued a $170.00 price objective on shares of Chevron in a report on Tuesday, October 8th. Wolfe Research began coverage on Chevron in a report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Barclays boosted their target price on Chevron from $168.00 to $174.00 and gave the company an “overweight” rating in a research report on Monday. Finally, UBS Group boosted their target price on Chevron from $189.00 to $192.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $173.47.

Chevron Stock Up 0.4 %

CVX stock traded up $0.59 during trading hours on Monday, reaching $153.66. 483,492 shares of the stock were exchanged, compared to its average volume of 7,629,754. Chevron Co. has a 12 month low of $135.37 and a 12 month high of $167.11. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.16 and a quick ratio of 0.85. The company has a market cap of $281.03 billion, a price-to-earnings ratio of 16.82, a PEG ratio of 3.29 and a beta of 1.09. The firm’s 50-day moving average is $146.96 and its 200-day moving average is $152.93.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share for the quarter, missing the consensus estimate of $2.93 by ($0.38). The company had revenue of $51.18 billion during the quarter, compared to the consensus estimate of $48.68 billion. Chevron had a net margin of 9.31% and a return on equity of 13.70%. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period last year, the firm posted $3.08 earnings per share. On average, equities research analysts expect that Chevron Co. will post 10.74 earnings per share for the current year.

Chevron Profile

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.