Fairfield Financial Advisors LTD Sells 608 Shares of Chevron Co. (NYSE:CVX)

Fairfield Financial Advisors LTD reduced its stake in shares of Chevron Co. (NYSE:CVX) by 16.1% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 3,170 shares of the oil and gas company’s stock after selling 608 shares during the period. Fairfield Financial Advisors LTD’s holdings in Chevron were worth $467,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Silverlake Wealth Management LLC lifted its stake in shares of Chevron by 2.3% during the 1st quarter. Silverlake Wealth Management LLC now owns 10,026 shares of the oil and gas company’s stock valued at $1,581,000 after buying an additional 221 shares in the last quarter. Tower Wealth Partners Inc. lifted its stake in shares of Chevron by 3.5% during the 1st quarter. Tower Wealth Partners Inc. now owns 3,727 shares of the oil and gas company’s stock valued at $588,000 after buying an additional 126 shares in the last quarter. Sloy Dahl & Holst LLC lifted its stake in shares of Chevron by 3.4% during the 1st quarter. Sloy Dahl & Holst LLC now owns 4,087 shares of the oil and gas company’s stock valued at $645,000 after buying an additional 135 shares in the last quarter. Monument Capital Management lifted its stake in shares of Chevron by 22.6% during the 1st quarter. Monument Capital Management now owns 6,795 shares of the oil and gas company’s stock valued at $1,072,000 after buying an additional 1,253 shares in the last quarter. Finally, Carret Asset Management LLC lifted its stake in shares of Chevron by 2.1% during the 1st quarter. Carret Asset Management LLC now owns 82,532 shares of the oil and gas company’s stock valued at $13,019,000 after buying an additional 1,712 shares in the last quarter. 72.42% of the stock is owned by institutional investors.

Analyst Ratings Changes

CVX has been the topic of several recent analyst reports. Scotiabank lowered their target price on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. Truist Financial lowered their target price on shares of Chevron from $154.00 to $150.00 and set a “hold” rating on the stock in a research note on Monday, September 30th. Bank of America initiated coverage on shares of Chevron in a research note on Thursday, October 17th. They issued a “buy” rating and a $168.00 target price on the stock. Barclays lowered their target price on shares of Chevron from $185.00 to $168.00 and set an “overweight” rating on the stock in a research note on Thursday, October 3rd. Finally, Wells Fargo & Company lowered their target price on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating on the stock in a research note on Friday, September 27th. Five equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $173.07.

Chevron Price Performance

CVX stock opened at $148.80 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.85 and a current ratio of 1.16. Chevron Co. has a 52 week low of $135.37 and a 52 week high of $167.11. The firm’s fifty day moving average is $146.85 and its 200 day moving average is $153.01. The firm has a market cap of $272.14 billion, a P/E ratio of 14.73, a P/E/G ratio of 3.27 and a beta of 1.09.

Chevron (NYSE:CVX) last released its earnings results on Friday, August 2nd. The oil and gas company reported $2.55 EPS for the quarter, missing the consensus estimate of $2.93 by ($0.38). Chevron had a net margin of 9.31% and a return on equity of 13.70%. The business had revenue of $51.18 billion for the quarter, compared to the consensus estimate of $48.68 billion. During the same period in the prior year, the business posted $3.08 EPS. Chevron’s revenue for the quarter was up 4.7% on a year-over-year basis. Research analysts predict that Chevron Co. will post 10.74 earnings per share for the current year.

About Chevron

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.