Milestone Asset Management LLC Has $3.67 Million Position in Chevron Co. (NYSE:CVX)

Milestone Asset Management LLC grew its position in shares of Chevron Co. (NYSE:CVX) by 25.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 25,321 shares of the oil and gas company’s stock after purchasing an additional 5,213 shares during the quarter. Milestone Asset Management LLC’s holdings in Chevron were worth $3,668,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in CVX. Rational Advisors LLC bought a new stake in Chevron during the 3rd quarter worth approximately $29,000. Legacy Investment Solutions LLC bought a new stake in shares of Chevron in the third quarter worth $29,000. Darwin Wealth Management LLC acquired a new stake in Chevron in the third quarter valued at $30,000. RPg Family Wealth Advisory LLC bought a new position in Chevron during the 3rd quarter worth $31,000. Finally, Krane Funds Advisors LLC acquired a new position in Chevron during the 3rd quarter worth about $47,000. 72.42% of the stock is currently owned by institutional investors.

Insider Transactions at Chevron

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of Chevron stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the completion of the transaction, the chief executive officer now owns 4,280 shares in the company, valued at approximately $685,356.40. The trade was a 97.47 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.20% of the stock is currently owned by insiders.

Chevron Price Performance

Shares of NYSE:CVX opened at $156.19 on Friday. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $167.11. The stock’s 50 day moving average is $153.56 and its 200-day moving average is $151.16. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $280.68 billion, a price-to-earnings ratio of 17.16, a PEG ratio of 1.35 and a beta of 1.12.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, topping the consensus estimate of $2.47 by $0.04. The firm had revenue of $50.67 billion for the quarter, compared to the consensus estimate of $48.86 billion. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The business’s revenue was down 6.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.05 earnings per share. Sell-side analysts forecast that Chevron Co. will post 10.18 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on CVX shares. Raymond James increased their price target on Chevron from $175.00 to $180.00 and gave the company an “outperform” rating in a research note on Friday, January 17th. Citigroup raised shares of Chevron from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $145.00 to $185.00 in a research note on Tuesday, November 26th. Piper Sandler cut their price target on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. DZ Bank upgraded Chevron from a “hold” rating to a “buy” rating and set a $170.00 price target for the company in a report on Tuesday, November 5th. Finally, Truist Financial boosted their price objective on Chevron from $160.00 to $164.00 and gave the company a “hold” rating in a research note on Monday, January 13th. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, Chevron currently has a consensus rating of “Moderate Buy” and a consensus target price of $175.27.

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.