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

Greenwich Wealth Management LLC decreased its position in Chevron Co. (NYSE:CVX) by 2.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,786 shares of the oil and gas company’s stock after selling 80 shares during the period. Greenwich Wealth Management LLC’s holdings in Chevron were worth $410,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in CVX. Invesco LLC increased its position in shares of Chevron by 1.5% during the 3rd quarter. Invesco LLC now owns 11,658 shares of the oil and gas company’s stock worth $1,717,000 after purchasing an additional 169 shares during the last quarter. Fullcircle Wealth LLC lifted its stake in Chevron by 14.1% during the third quarter. Fullcircle Wealth LLC now owns 10,841 shares of the oil and gas company’s stock worth $1,632,000 after purchasing an additional 1,340 shares in the last quarter. Tower Wealth Partners Inc. boosted its position in shares of Chevron by 3.7% during the third quarter. Tower Wealth Partners Inc. now owns 3,052 shares of the oil and gas company’s stock worth $449,000 after buying an additional 109 shares during the period. Phillips Wealth Planners LLC grew its stake in shares of Chevron by 13.6% in the third quarter. Phillips Wealth Planners LLC now owns 7,946 shares of the oil and gas company’s stock valued at $1,182,000 after buying an additional 950 shares in the last quarter. Finally, Farther Finance Advisors LLC raised its holdings in shares of Chevron by 4.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 73,638 shares of the oil and gas company’s stock valued at $10,845,000 after buying an additional 3,159 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Scotiabank dropped their target price on Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Barclays cut their price objective on Chevron from $185.00 to $168.00 and set an “overweight” rating on the stock in a research report on Thursday, October 3rd. Bank of America began coverage on Chevron in a research note on Thursday, October 17th. They issued a “buy” rating and a $168.00 price objective for the company. 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 note on Tuesday, October 8th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $170.00 price objective on shares of Chevron in a research report on Tuesday, October 8th. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $173.07.

Chevron Stock Performance

NYSE CVX traded up $4.25 during trading hours on Friday, hitting $153.07. 11,727,977 shares of the stock were exchanged, 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 cap of $279.95 billion, a price-to-earnings ratio of 15.16, a price-to-earnings-growth ratio of 3.29 and a beta of 1.09. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $167.11. The stock has a 50-day moving average of $146.96 and a 200 day moving average of $152.98.

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

Chevron Company 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.