Aries Wealth Management reduced its stake in Chevron Co. (NYSE:CVX) by 11.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,716 shares of the oil and gas company’s stock after selling 1,546 shares during the period. Aries Wealth Management’s holdings in Chevron were worth $844,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds also recently modified their holdings of CVX. Selective Wealth Management Inc. bought a new position in shares of Chevron during the 2nd quarter worth approximately $25,000. Demars Financial Group LLC bought a new position in shares of Chevron during the second quarter valued at $32,000. Marshall & Sullivan Inc. WA bought a new position in shares of Chevron during the second quarter valued at $36,000. Asset Advisors Investment Management LLC acquired a new stake in shares of Chevron in the 2nd quarter valued at $36,000. Finally, Watson Rebecca acquired a new stake in shares of Chevron in the 2nd quarter valued at $39,000. 64.01% of the stock is owned by institutional investors and hedge funds.
In other news, insider David A. Inchausti sold 5,750 shares of the company’s stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $92.00, for a total value of $529,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.28% of the stock is currently owned by insiders.
Shares of Chevron stock opened at $72.89 on Friday. The firm has a fifty day moving average of $76.82 and a two-hundred day moving average of $85.44. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.87 and a current ratio of 1.14. The stock has a market capitalization of $136.11 billion, a price-to-earnings ratio of -15.64, a PEG ratio of 2,483.67 and a beta of 1.26. Chevron Co. has a 52 week low of $51.60 and a 52 week high of $122.94.
Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, July 31st. The oil and gas company reported ($1.59) EPS for the quarter, missing analysts’ consensus estimates of ($0.93) by ($0.66). Chevron had a positive return on equity of 3.61% and a negative net margin of 7.41%. The company had revenue of $13.95 billion for the quarter, compared to analyst estimates of $21.71 billion. During the same period last year, the firm earned $1.77 earnings per share. The firm’s revenue for the quarter was down 64.1% on a year-over-year basis. As a group, research analysts forecast that Chevron Co. will post 0.01 EPS for the current fiscal year.
Several equities analysts recently issued reports on CVX shares. Truist Securiti cut their price target on shares of Chevron from $113.00 to $112.00 and set a “buy” rating for the company in a report on Friday, October 9th. Bank of America upgraded shares of Chevron from a “neutral” rating to a “buy” rating and set a $96.00 target price for the company in a research note on Monday, September 28th. Scotia Howard Weill cut Chevron from a “buy” rating to a “sector perform” rating and set a $121.00 price target for the company. in a report on Thursday, September 24th. Raymond James lifted their price objective on Chevron from $95.00 to $100.00 and gave the company an “outperform” rating in a research report on Monday, July 20th. Finally, MKM Partners initiated coverage on Chevron in a research note on Thursday, September 24th. They issued a “buy” rating and a $121.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $107.27.
Chevron Corporation, through its subsidiaries, engages in integrated energy, chemicals, and petroleum operations worldwide. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, and production of crude oil and natural gas; processing, liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and transportation, storage, and marketing of natural gas, as well as operates a gas-to-liquids plant.
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