Chevron Co. (NYSE:CVX) Stake Raised by Allen Wealth Management LLC

by · The Markets Daily

Allen Wealth Management LLC boosted its stake in Chevron Co. (NYSE:CVX – Free Report) by 7.8% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 27,067 shares of the oil and gas company’s stock after acquiring an additional 1,966 shares during the period. Chevron comprises approximately 2.8% of Allen Wealth Management LLC’s investment portfolio, making the stock its 6th largest position. Allen Wealth Management LLC’s holdings in Chevron were worth $3,986,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently bought and sold shares of the company. Anfield Capital Management LLC boosted its position in shares of Chevron by 118.0% during the second quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock worth $34,000 after buying an additional 118 shares during the period. Cyrus J. Lawrence LLC lifted its stake in Chevron by 66.7% during the 2nd quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock worth $39,000 after acquiring an additional 100 shares in the last quarter. Livelsberger Financial Advisory purchased a new position in Chevron during the 3rd quarter valued at about $47,000. Krane Funds Advisors LLC acquired a new position in Chevron in the 3rd quarter valued at about $47,000. Finally, MFA Wealth Advisors LLC purchased a new stake in Chevron during the second quarter worth about $59,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Price Performance

CVX stock opened at $153.07 on Friday. The stock has a market cap of $279.95 billion, a price-to-earnings ratio of 16.82, a PEG ratio of 3.29 and a beta of 1.09. Chevron Co. has a fifty-two week low of $135.37 and a fifty-two week high of $167.11. 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 business has a 50 day moving average price of $146.96 and a 200 day moving average price of $152.96.

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

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. Wells Fargo & Company lowered their price objective on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a research note on Friday, September 27th. UBS Group raised their price target on shares of Chevron from $189.00 to $192.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Barclays cut their price objective on Chevron from $185.00 to $168.00 and set an “overweight” rating on the stock in a research report on Thursday, October 3rd. Truist Financial decreased their target price on Chevron from $154.00 to $150.00 and set a “hold” rating for the company in a report on Monday, September 30th. Finally, Scotiabank lowered their target price on Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. Five equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $173.07.

View Our Latest Stock Report on Chevron

Chevron Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding CVX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Chevron Co. (NYSE:CVX – Free Report).