Cheviot Value Management LLC Raises Holdings in Chevron Corporation (NYSE:CVX)

Cheviot Value Management LLC increased its holdings in Chevron Corporation (NYSE:CVX) by 1.4% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 78,908 shares of the oil and gas company’s stock after acquiring an additional 1,122 shares during the period. Chevron makes up about 1.6% of Cheviot Value Management LLC’s holdings, making the stock its 17th largest holding. Cheviot Value Management LLC’s holdings in Chevron were worth $13,201,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. CoreCap Advisors LLC increased its holdings in shares of Chevron by 0.3% during the 4th quarter. CoreCap Advisors LLC now owns 28,248 shares of the oil and gas company’s stock worth $4,091,000 after buying an additional 71 shares during the last quarter. Clayton Financial Group LLC boosted its position in Chevron by 4.6% during the 1st quarter. Clayton Financial Group LLC now owns 1,702 shares of the oil and gas company’s stock worth $285,000 after purchasing an additional 75 shares during the period. Cordatus Wealth Management LLC boosted its position in Chevron by 0.4% during the 1st quarter. Cordatus Wealth Management LLC now owns 19,723 shares of the oil and gas company’s stock worth $3,299,000 after purchasing an additional 76 shares during the period. Requisite Capital Management LLC boosted its position in Chevron by 1.2% during the 1st quarter. Requisite Capital Management LLC now owns 6,362 shares of the oil and gas company’s stock worth $1,064,000 after purchasing an additional 77 shares during the period. Finally, Silverlake Wealth Management LLC boosted its position in Chevron by 0.7% during the 1st quarter. Silverlake Wealth Management LLC now owns 10,929 shares of the oil and gas company’s stock worth $1,828,000 after purchasing an additional 78 shares during the period. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Chevron Stock Performance

Shares of CVX stock opened at $151.33 on Friday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.82 and a current ratio of 1.08. Chevron Corporation has a one year low of $132.04 and a one year high of $168.96. The company’s 50-day simple moving average is $146.86 and its 200-day simple moving average is $148.80. The stock has a market capitalization of $264.28 billion, a price-to-earnings ratio of 19.48, a PEG ratio of 2.39 and a beta of 0.87.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, August 1st. The oil and gas company reported $1.77 EPS for the quarter, topping the consensus estimate of $1.58 by $0.19. Chevron had a net margin of 7.76% and a return on equity of 10.73%. The business had revenue of $44.82 billion for the quarter, compared to analysts’ expectations of $44.59 billion. During the same quarter last year, the company posted $2.55 earnings per share. The company’s quarterly revenue was down 12.4% compared to the same quarter last year. Equities analysts anticipate that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on CVX. Piper Sandler reaffirmed an “overweight” rating on shares of Chevron in a research report on Tuesday, July 15th. UBS Group decreased their price target on shares of Chevron from $194.00 to $185.00 and set a “buy” rating for the company in a research report on Monday, April 7th. BNP Paribas cut shares of Chevron to a “cautious” rating in a research report on Tuesday, April 15th. DZ Bank cut shares of Chevron from a “buy” rating to a “sell” rating and set a $130.00 price objective for the company. in a research report on Tuesday, May 6th. Finally, Redburn Atlantic restated a “sell” rating and set a $124.00 target price (down from $156.00) on shares of Chevron in a research note on Wednesday, April 23rd. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, Chevron currently has a consensus rating of “Hold” and a consensus target price of $163.18.

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.