Strategic Wealth Partners Ltd. Raises Holdings in Chevron Co. (NYSE:CVX)

Strategic Wealth Partners Ltd. boosted its stake in shares of Chevron Co. (NYSE:CVX) by 15.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,782 shares of the oil and gas company’s stock after buying an additional 898 shares during the period. Strategic Wealth Partners Ltd.’s holdings in Chevron were worth $1,070,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CVX. American Capital Advisory LLC lifted its stake in shares of Chevron by 403.2% during the first quarter. American Capital Advisory LLC now owns 156 shares of the oil and gas company’s stock worth $25,000 after purchasing an additional 125 shares in the last quarter. Bare Financial Services Inc acquired a new position in shares of Chevron during the fourth quarter worth approximately $27,000. Frank Rimerman Advisors LLC acquired a new stake in Chevron in the fourth quarter worth approximately $30,000. Cooksen Wealth LLC acquired a new stake in shares of Chevron during the 4th quarter valued at $40,000. Finally, Clear Investment Research LLC lifted its position in shares of Chevron by 264.9% during the 4th quarter. Clear Investment Research LLC now owns 281 shares of the oil and gas company’s stock valued at $42,000 after acquiring an additional 204 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on CVX. TD Cowen lifted their price objective on Chevron from $155.00 to $160.00 and gave the company a “hold” rating in a report on Monday, April 29th. Wells Fargo & Company increased their price target on shares of Chevron from $198.00 to $206.00 and gave the company an “overweight” rating in a report on Tuesday, April 30th. HSBC raised their target price on shares of Chevron from $175.00 to $178.00 and gave the company a “buy” rating in a research report on Tuesday, April 30th. Piper Sandler boosted their target price on shares of Chevron from $180.00 to $204.00 and gave the stock an “overweight” rating in a research report on Thursday, April 18th. Finally, Sanford C. Bernstein cut shares of Chevron from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $183.00 to $167.00 in a report on Wednesday, July 17th. Seven equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $185.59.

Chevron Trading Down 2.7 %

Shares of NYSE:CVX traded down $4.12 during mid-day trading on Friday, hitting $148.50. The stock had a trading volume of 13,271,745 shares, compared to its average volume of 7,860,695. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.93 and a current ratio of 1.23. The company has a market cap of $273.68 billion, a PE ratio of 13.66, a P/E/G ratio of 2.58 and a beta of 1.10. Chevron Co. has a 12-month low of $139.62 and a 12-month high of $171.70. The company’s 50 day moving average is $156.55 and its 200-day moving average is $155.91.

Chevron (NYSE:CVX) last posted its earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.34 by ($0.79). The firm had revenue of $51.18 billion during the quarter, compared to analyst estimates of $48.68 billion. Chevron had a net margin of 10.21% and a return on equity of 14.40%. The business’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.08 earnings per share. On average, sell-side analysts predict that Chevron Co. will post 12.45 EPS for the current year.

Insider Buying and Selling

In other Chevron news, VP Jeff B. Gustavson sold 3,750 shares of the stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $160.23, for a total transaction of $600,862.50. Following the transaction, the vice president now owns 477 shares in the company, valued at approximately $76,429.71. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Enrique Hernandez, Jr. sold 5,098 shares of the company’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $163.50, for a total transaction of $833,523.00. Following the completion of the sale, the director now owns 2,549 shares in the company, valued at $416,761.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Jeff B. Gustavson sold 3,750 shares of the company’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $160.23, for a total value of $600,862.50. Following the transaction, the vice president now directly owns 477 shares in the company, valued at approximately $76,429.71. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 11,397 shares of company stock worth $1,855,582. 0.20% of the stock is owned by insiders.

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.