United Asset Strategies Inc. Acquires 3,105 Shares of Chevron Co. (NYSE:CVX)

United Asset Strategies Inc. grew its holdings in shares of Chevron Co. (NYSE:CVX) by 4.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 80,380 shares of the oil and gas company’s stock after buying an additional 3,105 shares during the quarter. United Asset Strategies Inc.’s holdings in Chevron were worth $11,838,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. Marietta Wealth Management LLC lifted its stake in Chevron by 10.9% in the third quarter. Marietta Wealth Management LLC now owns 40,484 shares of the oil and gas company’s stock valued at $5,962,000 after acquiring an additional 3,965 shares during the last quarter. Leo Wealth LLC lifted its position in shares of Chevron by 19.6% in the third quarter. Leo Wealth LLC now owns 8,246 shares of the oil and gas company’s stock valued at $1,214,000 after buying an additional 1,354 shares during the last quarter. KCM Investment Advisors LLC increased its holdings in shares of Chevron by 2.5% during the 1st quarter. KCM Investment Advisors LLC now owns 331,550 shares of the oil and gas company’s stock worth $52,299,000 after acquiring an additional 8,168 shares during the last quarter. Hosking Partners LLP acquired a new stake in Chevron during the 1st quarter valued at $4,924,000. Finally, Garner Asset Management Corp boosted its position in Chevron by 14.5% during the second quarter. Garner Asset Management Corp now owns 19,997 shares of the oil and gas company’s stock worth $3,128,000 after purchasing an additional 2,530 shares during the period. Institutional investors own 72.42% of the company’s stock.

Chevron Trading Up 0.5 %

CVX opened at $148.80 on Friday. The company’s 50 day moving average is $146.85 and its 200-day moving average is $153.01. The company has a market cap of $272.14 billion, a P/E ratio of 14.73, a PEG ratio of 3.27 and a beta of 1.09. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $167.11. The company has a current ratio of 1.16, a quick ratio of 0.85 and a debt-to-equity ratio of 0.13.

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

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Truist Financial reduced their target price on shares of Chevron from $154.00 to $150.00 and set a “hold” rating for the company in a report on Monday, September 30th. Scotiabank dropped their price target on Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. UBS Group increased their price objective on Chevron from $189.00 to $192.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Wells Fargo & Company lowered their price target on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating on the stock in a research report on Friday, September 27th. Finally, Wolfe Research started coverage on shares of Chevron in a report on Thursday, July 18th. They issued a “peer perform” rating for the company. Five research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $173.07.

Chevron 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.