Liberty Wealth Management LLC Has $35.30 Million Stock Position in Chevron Corporation (NYSE:CVX)

Key Points

• Liberty Wealth Management LLC significantly increased its stake in Chevron Corporation, acquiring a total of 211,004 shares valued at approximately $35.30 million, reflecting an 845.1% increase during the first quarter.
• Chevron's quarterly earnings surpassed expectations, with the company reporting $1.77 earnings per share, exceeding the consensus estimate of $1.58, despite a 12.4% decline in revenue compared to the same quarter last year.
• Chevron's stock currently holds an average rating of "Hold" from analysts, with a consensus price target of $163.18, indicating mixed sentiments about the company's future performance amidst fluctuating market conditions.

Liberty Wealth Management LLC increased its position in shares of Chevron Corporation (NYSE:CVX - Free Report) by 845.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 211,004 shares of the oil and gas company's stock after purchasing an additional 188,678 shares during the period. Liberty Wealth Management LLC's holdings in Chevron were worth $35,299,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Sage Capital Advisors llc lifted its position in shares of Chevron by 2.2% in the first quarter. Sage Capital Advisors llc now owns 42,421 shares of the oil and gas company's stock worth $7,097,000 after purchasing an additional 919 shares in the last quarter. CCG Wealth Management LLC increased its stake in shares of Chevron by 2.3% in the 1st quarter. CCG Wealth Management LLC now owns 6,334 shares of the oil and gas company's stock valued at $1,060,000 after purchasing an additional 145 shares during the last quarter. Ignite Planners LLC grew its stake in shares of Chevron by 14.1% during the first quarter. Ignite Planners LLC now owns 12,316 shares of the oil and gas company's stock worth $2,060,000 after buying an additional 1,519 shares during the last quarter. Vista Capital Partners Inc. grew its holdings in Chevron by 9.1% during the 1st quarter. Vista Capital Partners Inc. now owns 5,938 shares of the oil and gas company's stock worth $993,000 after acquiring an additional 495 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund boosted its holdings in Chevron by 0.5% in the first quarter. Oregon Public Employees Retirement Fund now owns 143,914 shares of the oil and gas company's stock valued at $24,075,000 after acquiring an additional 675 shares during the last quarter. Institutional investors own 72.42% of the company's stock.

Analysts Set New Price Targets

CVX has been the topic of several recent analyst reports. Jefferies Financial Group restated a "buy" rating on shares of Chevron in a research note on Friday, July 18th. DZ Bank downgraded Chevron from a "buy" rating to a "sell" rating and set a $130.00 price target on the stock. in a research report on Tuesday, May 6th. Mizuho decreased their target price on shares of Chevron from $188.00 to $186.00 and set an "outperform" rating on the stock in a research report on Tuesday, May 13th. UBS Group decreased their target price on shares of Chevron from $194.00 to $185.00 and set a "buy" rating on the stock in a research note on Monday, April 7th. Finally, HSBC cut Chevron from a "buy" rating to a "hold" rating and reduced their target price for the company from $176.00 to $158.00 in a research note on Tuesday, May 13th. Three equities 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 stock. According to MarketBeat, Chevron presently has an average rating of "Hold" and a consensus price target of $163.18.

Chevron Stock Performance

Shares of Chevron stock opened at $151.33 on Friday. The firm has a market cap of $264.28 billion, a PE ratio of 19.48, a price-to-earnings-growth ratio of 2.39 and a beta of 0.87. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.17. Chevron Corporation has a 52 week low of $132.04 and a 52 week high of $168.96. The business's fifty day simple moving average is $146.86 and its 200-day simple moving average is $148.80.

Chevron (NYSE:CVX - Get Free Report) last announced its quarterly earnings results on Friday, August 1st. The oil and gas company reported $1.77 earnings per share for the quarter, beating analysts' consensus estimates of $1.58 by $0.19. The firm had revenue of $44.82 billion during the quarter, compared to analysts' expectations of $44.59 billion. Chevron had a net margin of 7.76% and a return on equity of 10.73%. Chevron's quarterly revenue was down 12.4% compared to the same quarter last year. During the same period in the previous year, the company earned $2.55 earnings per share. Equities analysts forecast that Chevron Corporation will post 10.79 earnings per share for the current year.

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.

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