Earned Wealth Advisors LLC Acquires New Holdings in Chevron Corporation (NYSE:CVX)

Key Points

• Earned Wealth Advisors LLC acquired a new stake in Chevron Corporation, purchasing 2,356 shares valued at approximately $394,000 during the first quarter.
• Chevron's stock has experienced fluctuations, with a 1-year low of $132.04 and a 1-year high of $168.96, and is currently trading at $151.33.
• The company reported earnings of $1.77 per share for the last quarter, exceeding estimates, despite a 12.4% decline in quarterly revenue year-over-year.

Earned Wealth Advisors LLC acquired a new stake in shares of Chevron Corporation (NYSE:CVX - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,356 shares of the oil and gas company's stock, valued at approximately $394,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Eagle Capital Management LLC raised its position in Chevron by 0.7% in the fourth quarter. Eagle Capital Management LLC now owns 34,600 shares of the oil and gas company's stock worth $5,011,000 after acquiring an additional 242 shares during the period. Bank Pictet & Cie Europe AG raised its position in shares of Chevron by 7.9% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 35,985 shares of the oil and gas company's stock valued at $5,212,000 after purchasing an additional 2,641 shares during the period. Prudential PLC raised its position in shares of Chevron by 19.7% during the 4th quarter. Prudential PLC now owns 31,572 shares of the oil and gas company's stock valued at $4,573,000 after purchasing an additional 5,206 shares during the period. Hurley Capital LLC bought a new stake in shares of Chevron during the 4th quarter valued at $63,000. Finally, Darden Wealth Group Inc raised its position in shares of Chevron by 4.9% during the 4th quarter. Darden Wealth Group Inc now owns 8,141 shares of the oil and gas company's stock valued at $1,179,000 after purchasing an additional 380 shares during the period. Institutional investors own 72.42% of the company's stock.

Chevron Trading Down 0.2%

NYSE:CVX opened at $151.33 on Monday. Chevron Corporation has a 1 year low of $132.04 and a 1 year high of $168.96. The stock has a market cap of $264.28 billion, a price-to-earnings ratio of 19.48, a PEG ratio of 2.31 and a beta of 0.87. The business has a fifty day moving average of $146.86 and a 200-day moving average of $148.73. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.82 and a current ratio of 1.08.

Chevron (NYSE:CVX - Get Free Report) last announced its earnings results on Friday, August 1st. The oil and gas company reported $1.77 earnings per share for the quarter, beating the consensus estimate of $1.58 by $0.19. Chevron had a return on equity of 9.80% and a net margin of 7.02%. The business had revenue of $44.82 billion during the quarter, compared to analysts' expectations of $44.59 billion. During the same quarter last year, the business posted $2.55 earnings per share. The company's quarterly revenue was down 12.4% on a year-over-year basis. Equities analysts predict that Chevron Corporation will post 10.79 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Mizuho cut their target price on shares of Chevron from $188.00 to $186.00 and set an "outperform" rating for the company in a research note on Tuesday, May 13th. Piper Sandler reaffirmed an "overweight" rating on shares of Chevron in a research note on Tuesday, July 15th. TD Cowen cut their target price on shares of Chevron from $155.00 to $150.00 and set a "hold" rating for the company in a research note on Monday, May 5th. Hsbc Global Res cut shares of Chevron from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 13th. Finally, Barclays reissued an "equal weight" rating on shares of Chevron in a research note on Tuesday, July 15th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, Chevron currently has an average rating of "Hold" and a consensus target price of $163.18.

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.

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