First Interstate Bank Has $1.06 Million Stock Position in Chevron Co. (NYSE:CVX)

First Interstate Bank increased its holdings in Chevron Co. (NYSE:CVX) by 8.8% in the 3rd quarter, Holdings Channel reports. The fund owned 7,214 shares of the oil and gas company’s stock after purchasing an additional 585 shares during the period. First Interstate Bank’s holdings in Chevron were worth $1,062,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Ameriprise Financial Inc. boosted its position in Chevron by 3.0% during the second quarter. Ameriprise Financial Inc. now owns 17,111,051 shares of the oil and gas company’s stock valued at $2,676,957,000 after purchasing an additional 501,969 shares during the last quarter. Capital World Investors lifted its holdings in shares of Chevron by 3.2% during the 1st quarter. Capital World Investors now owns 16,009,766 shares of the oil and gas company’s stock valued at $2,525,380,000 after buying an additional 495,879 shares during the last quarter. Legal & General Group Plc grew its stake in shares of Chevron by 4.9% in the 2nd quarter. Legal & General Group Plc now owns 13,570,971 shares of the oil and gas company’s stock valued at $2,122,772,000 after buying an additional 629,644 shares in the last quarter. Capital International Investors increased its holdings in 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 buying an additional 743,042 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in Chevron by 1.0% during the second quarter. Dimensional Fund Advisors LP now owns 13,021,023 shares of the oil and gas company’s stock valued at $2,036,846,000 after acquiring an additional 126,889 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on CVX shares. Truist Financial cut their price target on shares of Chevron from $154.00 to $150.00 and set a “hold” rating on the stock in a report on Monday, September 30th. UBS Group raised their target price on Chevron from $189.00 to $192.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Sanford C. Bernstein lowered Chevron from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $183.00 to $167.00 in a report on Wednesday, July 17th. Scotiabank reduced their target price on Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $170.00 price target on shares of Chevron in a report on Tuesday, October 8th. Five equities research 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, Chevron currently has an average rating of “Moderate Buy” and a consensus target price of $173.07.

Chevron Stock Performance

Chevron stock traded up $4.25 during trading hours on Friday, hitting $153.07. The stock had a trading volume of 11,727,977 shares, compared to its average volume of 5,864,947. Chevron Co. has a fifty-two week low of $135.37 and a fifty-two week high of $167.11. The company has a market cap of $279.95 billion, a PE ratio of 15.16, a price-to-earnings-growth ratio of 3.29 and a beta of 1.09. The company has a 50-day moving average of $146.96 and a two-hundred day moving average of $152.98. The company has a quick ratio of 0.85, a current ratio of 1.16 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last issued 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). Chevron had a net margin of 9.31% and a return on equity of 13.70%. The firm had revenue of $51.18 billion during the quarter, compared to analyst estimates of $48.68 billion. During the same quarter in the previous year, the company posted $3.08 earnings per share. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. On average, equities research analysts anticipate that Chevron Co. will post 10.74 EPS for the current fiscal 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.