Donaldson Capital Management LLC Grows Position in Chevron Co. (NYSE:CVX)

Donaldson Capital Management LLC grew its position in Chevron Co. (NYSE:CVX) by 1.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 250,093 shares of the oil and gas company’s stock after acquiring an additional 3,187 shares during the quarter. Donaldson Capital Management LLC’s holdings in Chevron were worth $36,831,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. KG&L Capital Management LLC raised its stake in shares of Chevron by 17.4% during the third quarter. KG&L Capital Management LLC now owns 13,228 shares of the oil and gas company’s stock worth $1,965,000 after purchasing an additional 1,957 shares during the last quarter. Forum Financial Management LP raised its position in Chevron by 2.8% during the 3rd quarter. Forum Financial Management LP now owns 32,401 shares of the oil and gas company’s stock worth $4,772,000 after buying an additional 877 shares during the last quarter. Harbour Investment Management LLC lifted its stake in shares of Chevron by 17.7% in the 3rd quarter. Harbour Investment Management LLC now owns 18,239 shares of the oil and gas company’s stock worth $2,686,000 after acquiring an additional 2,749 shares during the period. IAG Wealth Partners LLC boosted its holdings in shares of Chevron by 4.3% in the third quarter. IAG Wealth Partners LLC now owns 2,374 shares of the oil and gas company’s stock valued at $350,000 after acquiring an additional 98 shares in the last quarter. Finally, BSW Wealth Partners increased its stake in shares of Chevron by 14.3% during the third quarter. BSW Wealth Partners now owns 4,197 shares of the oil and gas company’s stock worth $618,000 after acquiring an additional 526 shares during the period. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Chevron Stock Performance

NYSE:CVX opened at $153.07 on Monday. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $167.11. The firm has a 50 day simple moving average of $146.96 and a 200-day simple moving average of $152.93. The firm has a market cap of $279.95 billion, a PE ratio of 16.82, 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 current ratio of 1.16 and a quick ratio of 0.85.

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

Analyst Ratings Changes

Several equities analysts have issued reports on CVX shares. Mizuho dropped their target price on Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a research report on Monday, September 16th. UBS Group upped their target price on shares of Chevron from $189.00 to $192.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $170.00 target price on shares of Chevron in a report on Tuesday, October 8th. Truist Financial decreased their price target on Chevron from $154.00 to $150.00 and set a “hold” rating on the stock in a research note on Monday, September 30th. Finally, Wolfe Research assumed coverage on Chevron in a report on Thursday, July 18th. They set a “peer perform” rating for the company. Five equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $173.07.

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.