Absher Wealth Management LLC Buys 18,568 Shares of Chevron Co. (NYSE:CVX)

Absher Wealth Management LLC boosted its stake in shares of Chevron Co. (NYSE:CVX) by 15.4% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 139,321 shares of the oil and gas company’s stock after purchasing an additional 18,568 shares during the quarter. Chevron comprises 2.6% of Absher Wealth Management LLC’s holdings, making the stock its 24th largest position. Absher Wealth Management LLC’s holdings in Chevron were worth $20,518,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CVX. Ameriprise Financial Inc. boosted its position in Chevron by 3.0% in the second quarter. Ameriprise Financial Inc. now owns 17,111,051 shares of the oil and gas company’s stock valued at $2,676,957,000 after buying an additional 501,969 shares in the last quarter. Capital World Investors grew its position in Chevron by 3.2% during the 1st quarter. Capital World Investors now owns 16,009,766 shares of the oil and gas company’s stock worth $2,525,380,000 after acquiring an additional 495,879 shares during the last quarter. Legal & General Group Plc increased its holdings in Chevron by 4.9% during the 2nd quarter. Legal & General Group Plc now owns 13,570,971 shares of the oil and gas company’s stock valued at $2,122,772,000 after purchasing an additional 629,644 shares in the last quarter. Capital International Investors raised its position in Chevron by 5.9% in the 1st quarter. Capital International Investors now owns 13,418,287 shares of the oil and gas company’s stock valued at $2,116,600,000 after purchasing an additional 743,042 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Chevron by 1.0% during the second quarter. Dimensional Fund Advisors LP now owns 13,021,023 shares of the oil and gas company’s stock worth $2,036,846,000 after purchasing an additional 126,889 shares during the last quarter. 72.42% of the stock is owned by institutional investors.

Chevron Stock Up 4.2 %

Shares of CVX traded up $6.32 on Friday, hitting $155.14. The company’s stock had a trading volume of 2,584,563 shares, compared to its average volume of 7,620,334. The firm’s fifty day moving average price is $146.85 and its 200-day moving average price is $153.01. 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 firm has a market capitalization of $283.74 billion, a price-to-earnings ratio of 14.73, a P/E/G ratio of 3.27 and a beta of 1.09.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share 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 last year, the company earned $3.08 EPS. The firm’s quarterly revenue was up 4.7% compared to the same quarter last year. On average, equities research analysts expect that Chevron Co. will post 10.74 EPS for the current year.

Analyst Ratings Changes

CVX has been the topic of a number of research analyst reports. Sanford C. Bernstein lowered shares of Chevron from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $183.00 to $167.00 in a report on Wednesday, July 17th. Bank of America assumed coverage on shares of Chevron in a research report on Thursday, October 17th. They issued a “buy” rating and a $168.00 price objective for the company. Royal Bank of Canada reiterated an “outperform” rating and issued a $170.00 price objective on shares of Chevron in a research report on Tuesday, October 8th. UBS Group boosted their target price on Chevron from $189.00 to $192.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Finally, Barclays decreased their price target on Chevron from $185.00 to $168.00 and set an “overweight” rating on the stock in a report on Thursday, October 3rd. Five research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the company presently has a consensus 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.