Abel Hall LLC Acquires 148 Shares of Chevron Co. (NYSE:CVX)

Abel Hall LLC boosted its holdings in shares of Chevron Co. (NYSE:CVX) by 4.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,782 shares of the oil and gas company’s stock after purchasing an additional 148 shares during the period. Abel Hall LLC’s holdings in Chevron were worth $548,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CVX. Synergy Asset Management LLC raised its stake in shares of Chevron by 10.3% in the fourth quarter. Synergy Asset Management LLC now owns 53,895 shares of the oil and gas company’s stock valued at $7,907,000 after acquiring an additional 5,018 shares during the last quarter. Gries Financial LLC raised its stake in shares of Chevron by 213.3% in the fourth quarter. Gries Financial LLC now owns 7,691 shares of the oil and gas company’s stock valued at $1,114,000 after acquiring an additional 5,236 shares during the last quarter. Milestone Asset Management LLC raised its stake in shares of Chevron by 25.9% in the fourth quarter. Milestone Asset Management LLC now owns 25,321 shares of the oil and gas company’s stock valued at $3,668,000 after acquiring an additional 5,213 shares during the last quarter. Hanson & Doremus Investment Management raised its stake in shares of Chevron by 27.4% in the fourth quarter. Hanson & Doremus Investment Management now owns 5,586 shares of the oil and gas company’s stock valued at $809,000 after acquiring an additional 1,200 shares during the last quarter. Finally, VanderPol Investments L.L.C. raised its stake in shares of Chevron by 14.8% in the fourth quarter. VanderPol Investments L.L.C. now owns 1,734 shares of the oil and gas company’s stock valued at $251,000 after acquiring an additional 223 shares during the last quarter. Institutional investors own 72.42% of the company’s stock.

Analyst Upgrades and Downgrades

CVX has been the subject of a number of research analyst reports. Barclays lifted their target price on shares of Chevron from $168.00 to $174.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. Scotiabank lowered 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. Wells Fargo & Company raised their price target on shares of Chevron from $171.00 to $188.00 and gave the company an “overweight” rating in a report on Monday, December 9th. DZ Bank raised shares of 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, Piper Sandler lowered their price target on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, Chevron currently has an average rating of “Moderate Buy” and a consensus price target of $175.27.

Insider Activity

In other news, CEO Michael K. Wirth sold 164,600 shares of the business’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $160.13, for a total value of $26,357,398.00. Following the completion of the transaction, the chief executive officer now owns 4,280 shares of the company’s stock, valued at $685,356.40. The trade was a 97.47 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.20% of the stock is owned by company insiders.

Chevron Price Performance

Shares of CVX stock opened at $156.19 on Friday. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $167.11. The firm has a market capitalization of $280.68 billion, a price-to-earnings ratio of 17.16, a price-to-earnings-growth ratio of 1.35 and a beta of 1.12. 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 fifty day moving average of $153.56 and a 200-day moving average of $151.16.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.47 by $0.04. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The company had revenue of $50.67 billion during the quarter, compared to analyst estimates of $48.86 billion. During the same quarter in the previous year, the business earned $3.05 EPS. The firm’s revenue was down 6.3% on a year-over-year basis. On average, equities research analysts forecast that Chevron Co. will post 10.18 earnings per share for the current 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.