Greenwich Wealth Management LLC Trims Stock Holdings in Chevron Co. (NYSE:CVX)

Greenwich Wealth Management LLC lowered its holdings in shares of Chevron Co. (NYSE:CVX) by 2.8% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,786 shares of the oil and gas company’s stock after selling 80 shares during the quarter. Greenwich Wealth Management LLC’s holdings in Chevron were worth $410,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Community Bank & Trust Waco Texas raised its position in Chevron by 6.8% during the 1st 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 purchasing an additional 3,028 shares in the last quarter. Norden Group LLC lifted its stake in Chevron by 2,882.0% in the first quarter. Norden Group LLC now owns 239,870 shares of the oil and gas company’s stock worth $37,836,000 after acquiring an additional 231,826 shares during the period. Westside Investment Management Inc. grew its holdings in Chevron by 26.5% during 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 in the last quarter. Abundance Wealth Counselors increased its position in Chevron by 3.2% during the 1st quarter. Abundance Wealth Counselors now owns 14,415 shares of the oil and gas company’s stock valued at $2,274,000 after purchasing an additional 450 shares during the period. Finally, DMC Group LLC raised its holdings in shares of Chevron by 6.5% in the 1st 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 in the last quarter. Institutional investors own 72.42% of the company’s stock.

Chevron Price Performance

Shares of Chevron stock traded up $4.25 on Friday, reaching $153.07. The company’s stock had a trading volume of 11,727,977 shares, compared to its average volume of 5,864,947. The company has a quick ratio of 0.85, a current ratio of 1.16 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $279.95 billion, a P/E ratio of 15.16, a PEG ratio of 3.29 and a beta of 1.09. The stock has a 50-day moving average price of $146.96 and a 200-day moving average price of $152.98. Chevron Co. has a 52-week low of $135.37 and a 52-week high of $167.11.

Chevron (NYSE:CVX) last issued its quarterly 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). The company had revenue of $51.18 billion during the quarter, compared to analysts’ expectations of $48.68 billion. Chevron had a return on equity of 13.70% and a net margin of 9.31%. Chevron’s revenue was up 4.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.08 EPS. Analysts expect that Chevron Co. will post 10.74 EPS for the current year.

Wall Street Analysts Forecast Growth

CVX has been the topic of several recent research reports. Wells Fargo & Company dropped their target price on Chevron from $196.00 to $169.00 and set an “overweight” rating on the stock in a research report on Friday, September 27th. Bank of America began coverage on shares of Chevron in a research report on Thursday, October 17th. They set a “buy” rating and a $168.00 target price on the stock. Truist Financial cut their price objective on Chevron from $154.00 to $150.00 and set a “hold” rating on the stock in a report on Monday, September 30th. Barclays reduced their target price on shares of Chevron from $185.00 to $168.00 and set an “overweight” rating for the company in a report on Thursday, October 3rd. Finally, Sanford C. Bernstein lowered shares of Chevron from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $183.00 to $167.00 in a report on Wednesday, July 17th. Five research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target 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.