Chevron Co. (NYSE:CVX) Shares Sold by Congress Asset Management Co.

Congress Asset Management Co. trimmed its holdings in shares of Chevron Co. (NYSE:CVX) by 1.5% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 86,930 shares of the oil and gas company’s stock after selling 1,359 shares during the period. Congress Asset Management Co.’s holdings in Chevron were worth $12,802,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of CVX. Anfield Capital Management LLC boosted its position in shares of Chevron by 118.0% in the second quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock worth $34,000 after buying an additional 118 shares during the period. Cyrus J. Lawrence LLC increased its holdings in shares of Chevron by 66.7% in the 2nd quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock valued at $39,000 after purchasing an additional 100 shares during the period. Krane Funds Advisors LLC acquired a new position in Chevron in the 3rd quarter valued at approximately $47,000. Livelsberger Financial Advisory purchased a new position in Chevron in the third quarter valued at about $47,000. Finally, MFA Wealth Advisors LLC acquired a new position in Chevron in the 2nd quarter worth about $59,000. 72.42% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently weighed in on CVX shares. Sanford C. Bernstein lowered shares of Chevron from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $183.00 to $167.00 in a research report on Wednesday, July 17th. Wolfe Research initiated coverage on Chevron in a report on Thursday, July 18th. They issued a “peer perform” rating for the company. Wells Fargo & Company lowered their price target on Chevron from $196.00 to $169.00 and set an “overweight” rating on the stock in a report on Friday, September 27th. Mizuho reduced their price objective on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a research note on Monday, September 16th. Finally, 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. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $173.07.

Chevron Stock Up 0.5 %

CVX opened at $148.80 on Friday. The firm has a market cap of $272.14 billion, a price-to-earnings ratio of 14.73, a PEG ratio of 3.27 and a beta of 1.09. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $167.11. 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 $146.85 and its 200-day simple moving average is $153.01.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $48.68 billion. During the same period in the prior year, the firm earned $3.08 earnings per share. The business’s quarterly revenue was up 4.7% compared to the same quarter last year. Equities research analysts anticipate 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.