Chevron Co. (NYSE:CVX) Shares Sold by Private Wealth Partners LLC

Private Wealth Partners LLC lowered its stake in shares of Chevron Co. (NYSE:CVX) by 9.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 191,039 shares of the oil and gas company’s stock after selling 19,275 shares during the quarter. Chevron makes up about 2.2% of Private Wealth Partners LLC’s holdings, making the stock its 13th biggest position. Private Wealth Partners LLC’s holdings in Chevron were worth $28,134,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of the stock. Anfield Capital Management LLC lifted its stake in Chevron by 118.0% in the second quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock valued at $34,000 after buying an additional 118 shares during the last quarter. Cyrus J. Lawrence LLC grew its position 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 purchasing an additional 100 shares during the last quarter. Livelsberger Financial Advisory purchased a new position in shares of Chevron during the third quarter worth 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 2nd quarter valued at approximately $59,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Stock Performance

NYSE:CVX opened at $153.07 on Friday. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $167.11. The company has a market capitalization of $279.95 billion, a P/E ratio of 16.82, a price-to-earnings-growth ratio of 3.29 and a beta of 1.09. The company has a current ratio of 1.16, a quick ratio of 0.85 and a debt-to-equity ratio of 0.13. The firm has a 50-day moving average price of $146.96 and a two-hundred day moving average price of $152.96.

Chevron (NYSE:CVX) last issued its quarterly earnings data 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). The company had revenue of $51.18 billion for the quarter, compared to analyst estimates of $48.68 billion. Chevron had a return on equity of 13.70% and a net margin of 9.31%. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.08 earnings per share. As a group, research analysts expect that Chevron Co. will post 10.74 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on CVX shares. Mizuho lowered their target price on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a report on Monday, September 16th. Truist Financial dropped their target price on Chevron from $154.00 to $150.00 and set a “hold” rating on the stock in a research report on Monday, September 30th. Barclays reduced their price target on Chevron from $185.00 to $168.00 and set an “overweight” rating for the company in a report on Thursday, October 3rd. Sanford C. Bernstein downgraded Chevron from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $183.00 to $167.00 in a research note on Wednesday, July 17th. Finally, Scotiabank cut their price objective on Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $173.07.

Chevron Company 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.