First National Bank Sioux Falls Lowers Holdings in Chevron Co. (NYSE:CVX)

First National Bank Sioux Falls trimmed its position in Chevron Co. (NYSE:CVX) by 7.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,344 shares of the oil and gas company’s stock after selling 332 shares during the period. First National Bank Sioux Falls’ holdings in Chevron were worth $640,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. BSW Wealth Partners lifted its holdings in Chevron by 14.3% in the third quarter. BSW Wealth Partners now owns 4,197 shares of the oil and gas company’s stock valued at $618,000 after acquiring an additional 526 shares during the period. Angeles Wealth Management LLC lifted its holdings in Chevron by 5.7% in the third quarter. Angeles Wealth Management LLC now owns 7,973 shares of the oil and gas company’s stock valued at $1,174,000 after acquiring an additional 429 shares during the period. Van ECK Associates Corp lifted its holdings in Chevron by 45.8% in the third quarter. Van ECK Associates Corp now owns 640,246 shares of the oil and gas company’s stock valued at $96,344,000 after acquiring an additional 201,189 shares during the period. Whitener Capital Management Inc. lifted its holdings in Chevron by 11.1% in the third quarter. Whitener Capital Management Inc. now owns 19,056 shares of the oil and gas company’s stock valued at $2,806,000 after acquiring an additional 1,911 shares during the period. Finally, Prosperitas Financial LLC lifted its holdings in Chevron by 8.6% in the third quarter. Prosperitas Financial LLC now owns 20,953 shares of the oil and gas company’s stock valued at $3,086,000 after acquiring an additional 1,664 shares during the period. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Chevron Price Performance

CVX stock traded up $4.25 during trading 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. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.85 and a current ratio of 1.16. The stock has a market cap of $279.95 billion, a price-to-earnings ratio of 16.82, a price-to-earnings-growth ratio of 3.29 and a beta of 1.09. The company’s 50 day moving average price is $146.96 and its two-hundred day moving average price is $152.96. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $167.11.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.55 EPS for the quarter, missing the consensus estimate of $2.93 by ($0.38). The business had revenue of $51.18 billion during the quarter, compared to analysts’ expectations of $48.68 billion. Chevron had a net margin of 9.31% and a return on equity of 13.70%. The firm’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter last year, the firm earned $3.08 EPS. On average, sell-side analysts forecast that Chevron Co. will post 10.74 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. UBS Group lifted their price target on Chevron from $189.00 to $192.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Sanford C. Bernstein downgraded 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 research note on Wednesday, July 17th. Wells Fargo & Company cut their price target on Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a research note on Friday, September 27th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $170.00 price target on shares of Chevron in a research note on Tuesday, October 8th. Finally, Truist Financial cut their price target on Chevron from $154.00 to $150.00 and set a “hold” rating for the company in a research note on Monday, September 30th. Five analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $173.07.

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.