AM Investment Strategies LLC Has $947,000 Stock Holdings in Chevron Co. (NYSE:CVX)

AM Investment Strategies LLC lowered its holdings in Chevron Co. (NYSE:CVX) by 1.0% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,433 shares of the oil and gas company’s stock after selling 68 shares during the quarter. AM Investment Strategies LLC’s holdings in Chevron were worth $947,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Community Bank & Trust Waco Texas raised its position in shares of Chevron by 6.8% during the first quarter. Community Bank & Trust Waco Texas now owns 47,378 shares of the oil and gas company’s stock valued at $7,473,000 after buying an additional 3,028 shares during the last quarter. Norden Group LLC raised its holdings in Chevron by 2,882.0% in the 1st quarter. Norden Group LLC now owns 239,870 shares of the oil and gas company’s stock valued at $37,836,000 after acquiring an additional 231,826 shares in the last quarter. Westside Investment Management Inc. lifted its position in shares of Chevron by 26.5% in the 1st quarter. Westside Investment Management Inc. now owns 3,124 shares of the oil and gas company’s stock worth $493,000 after acquiring an additional 655 shares during the period. Abundance Wealth Counselors grew its holdings in shares of Chevron by 3.2% during the 1st quarter. Abundance Wealth Counselors now owns 14,415 shares of the oil and gas company’s stock worth $2,274,000 after purchasing an additional 450 shares in the last quarter. Finally, DMC Group LLC increased its position in shares of Chevron by 6.5% during the first quarter. DMC Group LLC now owns 7,200 shares of the oil and gas company’s stock valued at $1,136,000 after purchasing an additional 441 shares during the period. 72.42% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

CVX has been the subject of several research reports. Wells Fargo & Company reduced their target price on Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a research report on Friday, September 27th. Royal Bank of Canada reiterated an “outperform” rating and set a $170.00 target price on shares of Chevron in a research report on Tuesday, October 8th. Wolfe Research assumed coverage on shares of Chevron in a research report on Thursday, July 18th. They issued a “peer perform” rating for the company. UBS Group lifted their price objective on Chevron from $189.00 to $192.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Finally, Truist Financial dropped their target price on Chevron from $154.00 to $150.00 and set a “hold” rating for the company in a report on Monday, September 30th. Five equities 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, Chevron has a consensus rating of “Moderate Buy” and a consensus price target of $173.07.

Chevron Price Performance

CVX traded up $4.25 during midday trading on Friday, hitting $153.07. The company had a trading volume of 11,727,977 shares, compared to its average volume of 5,864,947. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $167.11. The company has a market capitalization of $279.95 billion, a PE ratio of 15.16, a P/E/G ratio of 3.29 and a beta of 1.09. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.85 and a current ratio of 1.16. The firm’s 50-day simple moving average is $146.96 and its 200-day simple moving average is $152.98.

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