Chevron (NYSE:CVX) Gets an Upgrade to a Market Perform Rating

Marco Green
January 14, 2018

New Capital Management LP now owns 1,455 shares of the oil and gas company's stock valued at $156,000 after acquiring an additional 4 shares during the last quarter. The institutional investor held 639,422 shares of the clothing and shoe and accessory stores company at the end of 2017Q3, valued at $15.76 million, up from 558,510 at the end of the previous reported quarter. John G Ullman & Associates Inc who had been investing in Mosaic Co for a number of months, seems to be less bullish one the $9.04 billion market cap company. Citigroup increased their price target on shares of Chevron from $118.00 to $128.00 and gave the stock a "buy" rating in a report on Monday, October 30th. About 673,867 shares traded. It is up 0.00% since January 11, 2017 and is. It has underperformed by 10.02% the S&P500.

Exxonmobil Investment Management Inc decreased American Express Co (AXP) stake by 7.05% reported in 2017Q3 SEC filing. Symphony Asset Management Llc acquired 6,853 shares as Chevron Corp New (CVX)'s stock declined 3.45%. Valley National Advisers Inc. now owns 2,612 shares of the oil and gas company's stock worth $273,000 after purchasing an additional 11 shares during the period. Chevron Corp New now has $244.28 billion valuation. The company's stock had a trading volume of 5,287,251 shares, compared to its average volume of 5,160,000. Chevron Corporation (NYSE:CVX) has risen 6.68% since January 10, 2017 and is uptrending. It has underperformed by 6.99% the S&P500.

Since August 1, 2017, it had 0 insider buys, and 4 sales for $11.07 million activity. Deily Linnet F had sold 2,312 shares worth $248,274 on Wednesday, August 16.

In related news, VP R. Hewitt Pate sold 25,500 shares of the company's stock in a transaction on Monday, October 16th. Eagleclaw Capital Managment Llc acquired 6,125 shares as Chevron Corp New (CVX)'s stock declined 3.45%.

Among 34 analysts covering Chevron Corporation (NYSE:CVX), 21 have Buy rating, 1 Sell and 12 Hold. Therefore 62% are positive. The firm's revenue for the quarter was up 20.1% on a year-over-year basis. sell-side analysts predict that Chevron Co. will post 4.35 EPS for the current fiscal year. The company was upgraded on Tuesday, September 29 by Wolfe Research. Bank of America maintained the stock with "Buy" rating in Thursday, October 19 report. On Friday, January 13 the stock rating was initiated by Standpoint Research with "Buy". Needham upgraded the shares of INFN in report on Thursday, October 8 to "Buy" rating. CVX's past Market Perform rating is has been discontinued by the brokerage firm. Moreover, City has 1.07% invested in Chevron Corporation (NYSE:CVX) for 27,269 shares.

Country Club Trust Company, which manages about $729.76 million US Long portfolio, decreased its stake in Berkshire Hathaway Inc Del (BRKB) by 1,705 shares to 9,901 shares, valued at $1.82M in 2017Q3, according to the filing. It also upped Clorox Co Del (NYSE:CLX) stake by 2,659 shares and now owns 35,843 shares.

That's a potential -0.65 decrease relative to where Chevron Corporation (NYSE:CVX) has been trading recently.

Chevron Corporation has a current ratio of 1, indicating whether the company's short-term assets (cash, cash equivalents, marketable securities, receivables and inventory) are readily obtainable to pay off its short-term liabilities. It turned negative, as 43 investors sold CVX shares while 696 reduced holdings. 47 funds opened positions while 157 raised stakes. The current amount sensibly gauges the company's liability per unit of shareholder ownership and indicates whether it is a key driver of share prices. Greatmark Ptnrs accumulated 1.5% or 33,383 shares. Boston Family Office Limited Liability Co holds 42,681 shares or 0.57% of its portfolio. These analysts have also projected a Low Estimate of $0.96/share and a High Estimate of $1.58/share. Allstate accumulated 1,733 shares. Argent Trust Comm holds 2.48% or 77,193 shares. Shares of CVX have uptrended 8.3% in the past three months, while the S&P 500 has moved -0.24% in that time. Weatherstone holds 0.26% or 3,262 shares. Birinyi Associates accumulated 0.78% or 14,020 shares. Bush James Peter had sold 3,391 shares worth $322,145 on Thursday, October 26. Amer Bankshares owns 53,761 shares. Community Services Gru Inc Ltd Llc owns 3,246 shares or 0.16% of their U.S. portfolio. Its down 0.02, from 0.97 in 2017Q2. Finally, Keel Point LLC increased its holdings in shares of Chevron by 0.5% in the second quarter. 78 funds opened positions while 188 raised stakes. Strategic Financial Group LLC now owns 8,979 shares of the oil and gas company's stock worth $964,000 after buying an additional 510 shares in the last quarter. 12,799 were accumulated by Ing Groep Nv. (NYSE:NEE) for 10,000 shares. 37,927 were reported by P Schoenfeld Asset Management Limited Partnership. Ivory Investment Management Llc, a California-based fund reported 3.13 million shares. Chemical Bancorp has invested 0.41% in NextEra Energy, Inc. (NYSE:HBI) for 101,008 shares. Prelude Mgmt Ltd invested 0.03% of its portfolio in Chevron Corporation (NYSE:CVX).

The market experts are predicting a 24.48% rally, based on the high target price ($160) for Chevron Corporation shares that is likely to be hit in the 52 weeks. (NYSE:HBI) for 424,272 shares. Btr Capital Mngmt Inc holds 120,728 shares or 2.89% of its portfolio. Noting its average daily volume at 5.14 million shares each day over the month, this signifies a pretty significant change over the norm. Guardian Lp has 14,796 shares for 0.03% of their portfolio. 16,416 were reported by Wharton Business Gru Limited Liability Company. The company has market cap of $187.43 million. It also reduced its holding in Ventas Inc (NYSE:VTR) by 7,511 shares in the quarter, leaving it with 260,206 shares, and cut its stake in Kinder Morgan Inc Del (NYSE:KMI). Therefore 55% are positive. The firm has "Sell" rating by Goldman Sachs given on Tuesday, November 22. (NYSE:NEE) rating on Monday, April 3.

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