Sollinda Capital Management LLC Makes New $205,000 Investment in Chevron Co. (NYSE:CVX)

Sollinda Capital Management LLC acquired a new position in Chevron Co. (NYSE:CVX) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 1,389 shares of the oil and gas company’s stock, valued at approximately $205,000.

A number of other institutional investors have also added to or reduced their stakes in CVX. Community Bank & Trust Waco Texas raised its stake in Chevron by 6.8% during the 1st quarter. Community Bank & Trust Waco Texas now owns 47,378 shares of the oil and gas company’s stock valued at $7,473,000 after purchasing an additional 3,028 shares during the period. Norden Group LLC boosted its holdings in shares of Chevron by 2,882.0% in the 1st quarter. Norden Group LLC now owns 239,870 shares of the oil and gas company’s stock worth $37,836,000 after purchasing an additional 231,826 shares during the period. Westside Investment Management Inc. boosted its holdings in Chevron by 26.5% during the 1st quarter. Westside Investment Management Inc. now owns 3,124 shares of the oil and gas company’s stock valued at $493,000 after acquiring an additional 655 shares during the period. Abundance Wealth Counselors boosted its holdings in Chevron by 3.2% during the 1st quarter. Abundance Wealth Counselors now owns 14,415 shares of the oil and gas company’s stock valued at $2,274,000 after acquiring an additional 450 shares during the period. Finally, DMC Group LLC boosted its holdings in Chevron by 6.5% during the 1st quarter. DMC Group LLC now owns 7,200 shares of the oil and gas company’s stock valued at $1,136,000 after acquiring an additional 441 shares during the period. Institutional investors own 72.42% of the company’s stock.

Chevron Stock Performance

CVX stock traded up $4.25 during midday trading on Friday, reaching $153.07. The company had a trading volume of 11,727,977 shares, compared to its average volume of 5,864,947. The company has a quick ratio of 0.85, a current ratio of 1.16 and a debt-to-equity ratio of 0.13. The stock has a 50 day moving average price of $146.96 and a 200 day moving average price of $152.98. Chevron Co. has a fifty-two week low of $135.37 and a fifty-two week high of $167.11. The firm has a market capitalization of $279.95 billion, a PE ratio of 15.16, a P/E/G ratio of 3.29 and a beta of 1.09.

Chevron (NYSE:CVX) last released its quarterly 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). The business had revenue of $51.18 billion for the quarter, compared to the consensus estimate of $48.68 billion. Chevron had a net margin of 9.31% and a return on equity of 13.70%. The business’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period last year, the firm posted $3.08 EPS. Analysts anticipate that Chevron Co. will post 10.74 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on CVX shares. UBS Group boosted their price target on Chevron from $189.00 to $192.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Wolfe Research began coverage on Chevron in a research note on Thursday, July 18th. They issued a “peer perform” rating on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $170.00 price objective on shares of Chevron in a report on Tuesday, October 8th. Scotiabank lowered their price target on Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. Finally, Sanford C. Bernstein lowered Chevron from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $183.00 to $167.00 in a research note on Wednesday, July 17th. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $173.07.

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.