Hoxton Planning & Management LLC Takes $394,000 Position in Chevron Corporation (NYSE:CVX)

Key Points

• Hoxton Planning & Management LLC purchased a stake in Chevron Corporation worth approximately $394,000, acquiring 2,355 shares during the first quarter.
• Chevron reported a quarterly earnings per share (EPS) of $2.18, beating estimates by $0.03, but had a revenue of $47.61 billion, which was below expectations.
• The company's stock has seen recent target price adjustments from multiple brokerages, with a consensus target price of $163.18 and a current rating of "Hold."

Hoxton Planning & Management LLC purchased a new stake in shares of Chevron Corporation (NYSE:CVX - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 2,355 shares of the oil and gas company's stock, valued at approximately $394,000.

Several other hedge funds also recently modified their holdings of CVX. Eagle Capital Management LLC grew its holdings in shares of Chevron by 0.7% during the fourth quarter. Eagle Capital Management LLC now owns 34,600 shares of the oil and gas company's stock valued at $5,011,000 after buying an additional 242 shares in the last quarter. Bank Pictet & Cie Europe AG grew its stake in Chevron by 7.9% in the fourth 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 in the last quarter. Bryce Point Capital LLC acquired a new stake in shares of Chevron in the fourth quarter worth about $851,000. Cinctive Capital Management LP acquired a new stake in shares of Chevron in the fourth quarter worth about $4,368,000. Finally, OneAscent Financial Services LLC lifted its position in shares of Chevron by 39.8% in the fourth quarter. OneAscent Financial Services LLC now owns 5,551 shares of the oil and gas company's stock worth $804,000 after buying an additional 1,580 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Chevron Price Performance

CVX opened at $151.75 on Friday. The stock has a market cap of $265.01 billion, a P/E ratio of 17.34, a P/E/G ratio of 2.42 and a beta of 0.83. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.17. The company has a fifty day simple moving average of $146.57 and a 200 day simple moving average of $148.90. Chevron Corporation has a 12 month low of $132.04 and a 12 month high of $168.96.

Chevron (NYSE:CVX - Get Free Report) last posted its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $2.18 EPS for the quarter, beating the consensus estimate of $2.15 by $0.03. The business had revenue of $47.61 billion for the quarter, compared to analysts' expectations of $49.05 billion. Chevron had a net margin of 7.76% and a return on equity of 10.73%. The firm's revenue was down 2.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.93 EPS. On average, research analysts expect that Chevron Corporation will post 10.79 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on CVX. TD Cowen decreased their target price on Chevron from $155.00 to $150.00 and set a "hold" rating for the company in a research note on Monday, May 5th. UBS Group cut their price target on Chevron from $194.00 to $185.00 and set a "buy" rating for the company in a report on Monday, April 7th. BNP Paribas cut Chevron to a "cautious" rating in a report on Tuesday, April 15th. Evercore ISI reaffirmed an "outperform" rating and set a $180.00 price target on shares of Chevron in a report on Thursday. Finally, Mizuho dropped their price target on Chevron from $188.00 to $186.00 and set an "outperform" rating for the company in a report on Tuesday, May 13th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and ten have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus 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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