Diligent Investors LLC Raises Stake in Chevron Co. (NYSE:CVX)

Diligent Investors LLC boosted its holdings in shares of Chevron Co. (NYSE:CVXFree Report) by 1.7% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 23,621 shares of the oil and gas company’s stock after purchasing an additional 390 shares during the period. Chevron makes up 1.2% of Diligent Investors LLC’s investment portfolio, making the stock its 11th largest holding. Diligent Investors LLC’s holdings in Chevron were worth $3,983,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. NorthCrest Asset Manangement LLC lifted its stake in shares of Chevron by 247.8% in the second quarter. NorthCrest Asset Manangement LLC now owns 3,400 shares of the oil and gas company’s stock valued at $25,000 after purchasing an additional 5,700 shares during the period. DHJJ Financial Advisors Ltd. acquired a new stake in shares of Chevron in the third quarter valued at about $35,000. Worth Asset Management LLC acquired a new stake in shares of Chevron in the first quarter valued at about $36,000. Legacy Financial Group LLC acquired a new stake in shares of Chevron in the third quarter valued at about $43,000. Finally, Mizuho Securities Co. Ltd. acquired a new stake in shares of Chevron in the second quarter valued at about $50,000. Hedge funds and other institutional investors own 68.87% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on CVX shares. Raymond James cut their target price on shares of Chevron from $200.00 to $175.00 and set an “outperform” rating for the company in a research report on Monday, October 30th. Royal Bank of Canada reiterated an “outperform” rating and set a $180.00 price target on shares of Chevron in a report on Tuesday, October 24th. Sanford C. Bernstein upgraded shares of Chevron from a “market perform” rating to an “outperform” rating and lowered their price target for the stock from $184.00 to $182.00 in a report on Thursday, November 2nd. UBS Group lowered their price target on shares of Chevron from $194.00 to $185.00 and set a “buy” rating for the company in a report on Thursday, December 14th. Finally, Truist Financial lowered their price target on shares of Chevron from $175.00 to $169.00 and set a “hold” rating for the company in a report on Tuesday, October 24th. Six equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $181.53.

Read Our Latest Stock Report on Chevron

Chevron Stock Up 0.4 %

NYSE CVX traded up $0.58 during trading on Friday, reaching $149.15. The company’s stock had a trading volume of 9,148,482 shares, compared to its average volume of 9,223,539. The company has a current ratio of 1.25, a quick ratio of 0.97 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $281.56 billion, a PE ratio of 11.03, a PEG ratio of 0.75 and a beta of 1.12. The business has a 50-day moving average price of $146.49 and a 200-day moving average price of $155.02. Chevron Co. has a 1-year low of $139.62 and a 1-year high of $184.23.

Chevron (NYSE:CVXGet Free Report) last posted its earnings results on Friday, October 27th. The oil and gas company reported $3.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.70 by ($0.65). Chevron had a net margin of 12.11% and a return on equity of 16.15%. The business had revenue of $54.08 billion during the quarter, compared to analyst estimates of $51.41 billion. During the same quarter last year, the firm earned $5.56 earnings per share. Chevron’s revenue was down 18.9% compared to the same quarter last year. On average, research analysts forecast that Chevron Co. will post 12.99 earnings per share for the current fiscal year.

About Chevron

(Free Report)

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; liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and processing, transportation, storage, and marketing of natural gas, as well as a gas-to-liquids plant.

Further Reading

Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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