Clearstead Trust LLC Lowers Holdings in Chevron Corporation (NYSE:CVX)

Clearstead Trust LLC cut its holdings in Chevron Corporation (NYSE:CVX) by 1.1% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,387 shares of the oil and gas company’s stock after selling 171 shares during the period. Clearstead Trust LLC’s holdings in Chevron were worth $2,574,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Sage Capital Advisors llc raised its holdings in shares of Chevron by 2.2% during the 1st quarter. Sage Capital Advisors llc now owns 42,421 shares of the oil and gas company’s stock worth $7,097,000 after acquiring an additional 919 shares in the last quarter. CCG Wealth Management LLC raised its holdings in shares of Chevron by 2.3% during the 1st quarter. CCG Wealth Management LLC now owns 6,334 shares of the oil and gas company’s stock worth $1,060,000 after acquiring an additional 145 shares in the last quarter. Ignite Planners LLC raised its holdings in shares of Chevron by 14.1% during the 1st quarter. Ignite Planners LLC now owns 12,316 shares of the oil and gas company’s stock worth $2,060,000 after acquiring an additional 1,519 shares in the last quarter. Vista Capital Partners Inc. raised its holdings in shares of Chevron by 9.1% during the 1st quarter. Vista Capital Partners Inc. now owns 5,938 shares of the oil and gas company’s stock worth $993,000 after acquiring an additional 495 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund raised its holdings in shares of Chevron by 0.5% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 143,914 shares of the oil and gas company’s stock worth $24,075,000 after acquiring an additional 675 shares in the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Price Performance

CVX opened at $151.33 on Monday. Chevron Corporation has a 12-month low of $132.04 and a 12-month high of $168.96. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.17. The business’s fifty day simple moving average is $146.86 and its 200-day simple moving average is $148.73. The company has a market capitalization of $264.28 billion, a price-to-earnings ratio of 19.48, a PEG ratio of 2.31 and a beta of 0.87.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, August 1st. The oil and gas company reported $1.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.58 by $0.19. Chevron had a return on equity of 9.80% and a net margin of 7.02%. The business had revenue of $44.82 billion for the quarter, compared to the consensus estimate of $44.59 billion. During the same quarter in the prior year, the company earned $2.55 EPS. The business’s revenue was down 12.4% compared to the same quarter last year. On average, equities research analysts anticipate that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Analysts Set New Price Targets

CVX has been the topic of several recent research reports. UBS Group decreased their price objective on Chevron from $194.00 to $185.00 and set a “buy” rating on the stock in a report on Monday, April 7th. BNP Paribas downgraded Chevron to a “cautious” rating in a research report on Tuesday, April 15th. Redburn Atlantic reissued a “sell” rating and set a $124.00 target price (down previously from $156.00) on shares of Chevron in a research report on Wednesday, April 23rd. Wells Fargo & Company reissued an “overweight” rating and set a $178.00 target price on shares of Chevron in a research report on Friday. Finally, Scotiabank reissued a “sector perform” rating and set a $160.00 target price (up previously from $143.00) on shares of Chevron in a research report on Friday, July 11th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target 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.