REDW Wealth LLC Boosts Stock Holdings in Chevron Co. (NYSE:CVX)

REDW Wealth LLC raised its holdings in shares of Chevron Co. (NYSE:CVX) by 6.2% during the third quarter, according to its most recent filing with the SEC. The firm owned 1,808 shares of the oil and gas company’s stock after purchasing an additional 105 shares during the period. REDW Wealth LLC’s holdings in Chevron were worth $266,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in CVX. Marietta Wealth Management LLC grew its position in shares of Chevron by 10.9% in the 3rd quarter. Marietta Wealth Management LLC now owns 40,484 shares of the oil and gas company’s stock worth $5,962,000 after buying an additional 3,965 shares during the last quarter. Leo Wealth LLC grew its position in shares of Chevron by 19.6% in the 3rd quarter. Leo Wealth LLC now owns 8,246 shares of the oil and gas company’s stock worth $1,214,000 after buying an additional 1,354 shares during the last quarter. KCM Investment Advisors LLC grew its position in shares of Chevron by 2.5% in the 1st quarter. KCM Investment Advisors LLC now owns 331,550 shares of the oil and gas company’s stock worth $52,299,000 after buying an additional 8,168 shares during the last quarter. Hosking Partners LLP purchased a new position in shares of Chevron in the 1st quarter worth approximately $4,924,000. Finally, Garner Asset Management Corp grew its position in shares of Chevron by 14.5% in the 2nd quarter. Garner Asset Management Corp now owns 19,997 shares of the oil and gas company’s stock worth $3,128,000 after buying an additional 2,530 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CVX. Truist Financial cut their price objective on shares of Chevron from $154.00 to $150.00 and set a “hold” rating on the stock in a research report on Monday, September 30th. Royal Bank of Canada reissued an “outperform” rating and set a $170.00 target price on shares of Chevron in a research report on Tuesday, October 8th. Wells Fargo & Company dropped their target price on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating on the stock in a research report on Friday, September 27th. Mizuho dropped their target price on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a research report on Monday, September 16th. Finally, Bank of America assumed coverage on shares of Chevron in a research report on Thursday, October 17th. They set a “buy” rating and a $168.00 target price on the stock. Five investment analysts have rated the stock with a hold rating and twelve have given 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.

Chevron Price Performance

Chevron stock opened at $153.07 on Friday. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $167.11. The stock has a market cap of $279.95 billion, a P/E ratio of 16.82, a PEG ratio of 3.29 and a beta of 1.09. The company has a 50-day moving average price of $146.96 and a 200 day moving average price of $152.96. The company has a current ratio of 1.16, a quick ratio of 0.85 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last announced 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). Chevron had a net margin of 9.31% and a return on equity of 13.70%. The company had revenue of $51.18 billion for the quarter, compared to analyst estimates of $48.68 billion. During the same quarter in the prior year, the business earned $3.08 earnings per share. Chevron’s revenue was up 4.7% on a year-over-year basis. Sell-side analysts anticipate that Chevron Co. will post 10.74 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.