LaSalle St. Invests Heavily in Chevron Amidst Institutional Buying Frenzy
LaSalle St. Investment Advisors LLC has acquired a new stake in Chevron Corporation (NYSE:CVX) during the second quarter, according to its latest disclosure with the Securities & Exchange Commission.
The fund purchased approximately 6,295 shares of CVX's stock, valued at about $1,043,000.
This is not the only recent investment activity in Chevron. Cornerstone Advisory LLC increased its stake by 0.9% in the first quarter, while Compton Financial Group LLC lifted its stake by 1.9%. Quantum Portfolio Management LLC also boosted its holdings by 2.7%, and Wealthspire Retirement LLC purchased an additional 56 shares during the period.
Despite this positive sentiment from institutional investors, Chevron's share price has been sensitive to crude prices and Middle East developments. Several analysts have weighed in on the company, with Morgan Stanley raising its target to $218 and maintaining an overweight rating.