Berkeley Capital Partners LLC Raises Holdings in Chevron Co. (NYSE:CVX)

Berkeley Capital Partners LLC increased its position in Chevron Co. (NYSE:CVXGet Rating) by 7.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 12,193 shares of the oil and gas company’s stock after buying an additional 889 shares during the quarter. Chevron comprises about 0.8% of Berkeley Capital Partners LLC’s investment portfolio, making the stock its 21st biggest position. Berkeley Capital Partners LLC’s holdings in Chevron were worth $1,752,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in CVX. Worth Asset Management LLC purchased a new position in shares of Chevron in the 1st quarter worth $36,000. Win Advisors Inc. increased its holdings in Chevron by 61.2% in the 2nd quarter. Win Advisors Inc. now owns 316 shares of the oil and gas company’s stock valued at $46,000 after purchasing an additional 120 shares in the last quarter. Joseph P. Lucia & Associates LLC increased its holdings in Chevron by 80.6% in the 2nd quarter. Joseph P. Lucia & Associates LLC now owns 336 shares of the oil and gas company’s stock valued at $49,000 after purchasing an additional 150 shares in the last quarter. LFA Lugano Financial Advisors SA acquired a new stake in Chevron in the 2nd quarter valued at $72,000. Finally, Goodman Advisory Group LLC acquired a new stake in Chevron in the 2nd quarter valued at $72,000. 69.37% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CVX has been the subject of several recent research reports. Wells Fargo & Company increased their price target on Chevron from $199.00 to $202.00 and gave the company an “overweight” rating in a report on Tuesday, January 10th. Cowen increased their price target on Chevron from $160.00 to $185.00 and gave the company an “outperform” rating in a report on Monday, October 31st. Cowen increased their price target on Chevron from $160.00 to $185.00 and gave the company an “outperform” rating in a report on Monday, October 31st. Citigroup raised their target price on Chevron from $155.00 to $180.00 in a research note on Tuesday, November 22nd. Finally, Piper Sandler lowered their target price on Chevron from $206.00 to $199.00 and set an “overweight” rating for the company in a research note on Monday, December 19th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $186.71.

Chevron Stock Up 0.1 %

NYSE:CVX opened at $180.83 on Wednesday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.15 and a current ratio of 1.40. The stock has a 50-day simple moving average of $177.39 and a 200 day simple moving average of $166.01. Chevron Co. has a one year low of $125.27 and a one year high of $189.68. The company has a market capitalization of $349.66 billion, a price-to-earnings ratio of 10.29, a price-to-earnings-growth ratio of 0.81 and a beta of 1.18.

Chevron (NYSE:CVXGet Rating) last issued its earnings results on Friday, October 28th. The oil and gas company reported $5.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.02 by $0.54. Chevron had a net margin of 14.36% and a return on equity of 22.36%. The firm had revenue of $66.64 billion for the quarter, compared to analysts’ expectations of $61.44 billion. During the same quarter last year, the company posted $2.96 earnings per share. Chevron’s revenue was up 49.1% on a year-over-year basis. Sell-side analysts predict that Chevron Co. will post 18.91 EPS for the current fiscal year.

Insiders Place Their Bets

In other Chevron news, EVP James William Johnson sold 143,466 shares of the firm’s stock in a transaction dated Monday, November 28th. The shares were sold at an average price of $179.30, for a total value of $25,723,453.80. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, CFO Pierre R. Breber sold 25,000 shares of Chevron stock in a transaction that occurred on Monday, November 28th. The stock was sold at an average price of $179.64, for a total transaction of $4,491,000.00. Following the sale, the chief financial officer now owns 8 shares of the company’s stock, valued at $1,437.12. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP James William Johnson sold 143,466 shares of Chevron stock in a transaction that occurred on Monday, November 28th. The shares were sold at an average price of $179.30, for a total value of $25,723,453.80. The disclosure for this sale can be found here. Insiders have sold 293,563 shares of company stock valued at $53,186,421 over the last quarter. Insiders own 0.32% of the company’s stock.

Chevron Profile

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Chevron Corp. engages in the provision of administrative, financial management, and technology support for energy and chemical operations. It operates through the Upstream and Downstream segments. The Upstream segment consists of the exploration, development, and production of crude oil and natural gas, the liquefaction, transportation, and regasification associated with liquefied natural gas, the transporting of crude oil by major international oil export pipelines, the processing, transporting, storage, and marketing of natural gas, and a gas-to-liquids plant.

Further Reading

Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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