Silver Coast Investments LLC Has $587,000 Stake in Chevron Co. (NYSE:CVX)

Silver Coast Investments LLC lowered its stake in shares of Chevron Co. (NYSE:CVX) by 4.0% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 3,989 shares of the oil and gas company’s stock after selling 165 shares during the period. Silver Coast Investments LLC’s holdings in Chevron were worth $587,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in CVX. Anfield Capital Management LLC raised its position in Chevron by 118.0% in the second quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock worth $34,000 after purchasing an additional 118 shares in the last quarter. Cyrus J. Lawrence LLC grew its stake in shares of Chevron by 66.7% in the 2nd quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock valued at $39,000 after purchasing an additional 100 shares during the period. Livelsberger Financial Advisory acquired a new position in shares of Chevron in the 3rd quarter worth approximately $47,000. Krane Funds Advisors LLC bought a new position in shares of Chevron during the 3rd quarter worth approximately $47,000. Finally, MFA Wealth Advisors LLC acquired a new stake in Chevron in the 2nd quarter valued at $59,000. Institutional investors own 72.42% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on CVX. Wells Fargo & Company reduced their target price on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating on the stock in a research note on Friday, September 27th. Scotiabank cut their price target on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. UBS Group upped their price objective on shares of Chevron from $189.00 to $192.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Barclays dropped their price objective on shares of Chevron from $185.00 to $168.00 and set an “overweight” rating for the company in a report on Thursday, October 3rd. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $170.00 target price on shares of Chevron in a report on Tuesday, October 8th. Five analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $173.07.

Chevron Stock Up 4.0 %

Shares of NYSE:CVX traded up $5.92 during trading on Friday, hitting $154.74. 3,907,754 shares of the company’s stock traded hands, compared to its average volume of 7,626,576. The company has a 50-day moving average price of $146.85 and a 200-day moving average price of $153.01. Chevron Co. has a 52 week low of $135.37 and a 52 week high of $167.11. The company has a current ratio of 1.16, a quick ratio of 0.85 and a debt-to-equity ratio of 0.13. The company has a market cap of $283.01 billion, a price-to-earnings ratio of 14.73, a price-to-earnings-growth ratio of 3.27 and a beta of 1.09.

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