Sound Financial Strategies Group LLC Makes New $854,000 Investment in Chevron Corporation (NYSE:CVX)

Key Points

• Sound Financial Strategies Group LLC has made a new investment of approximately $854,000 in Chevron Corporation, acquiring 5,107 shares which now constitutes about 0.8% of its portfolio.
• Chevron's recent earnings report indicated an EPS of $1.77, surpassing analysts' estimates of $1.58, despite a 12.4% year-over-year revenue decline to $44.82 billion.
• Analysts have set target prices for Chevron, with Scotiabank raising its target from $143.00 to $160.00, while others have lowered their forecasts, reflecting mixed sentiment about the company's stock performance.

Sound Financial Strategies Group LLC bought a new position in Chevron Corporation (NYSE:CVX - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 5,107 shares of the oil and gas company's stock, valued at approximately $854,000. Chevron makes up approximately 0.8% of Sound Financial Strategies Group LLC's investment portfolio, making the stock its 22nd biggest position.

A number of other large investors have also added to or reduced their stakes in the company. CoreCap Advisors LLC increased its position in Chevron by 0.3% during the fourth quarter. CoreCap Advisors LLC now owns 28,248 shares of the oil and gas company's stock worth $4,091,000 after buying an additional 71 shares during the period. Clayton Financial Group LLC grew its stake in shares of Chevron by 4.6% in the 1st quarter. Clayton Financial Group LLC now owns 1,702 shares of the oil and gas company's stock valued at $285,000 after purchasing an additional 75 shares during the last quarter. Cordatus Wealth Management LLC grew its stake in shares of Chevron by 0.4% in the 1st quarter. Cordatus Wealth Management LLC now owns 19,723 shares of the oil and gas company's stock valued at $3,299,000 after purchasing an additional 76 shares during the last quarter. Requisite Capital Management LLC grew its stake in shares of Chevron by 1.2% in the 1st quarter. Requisite Capital Management LLC now owns 6,362 shares of the oil and gas company's stock valued at $1,064,000 after purchasing an additional 77 shares during the last quarter. Finally, Silverlake Wealth Management LLC grew its stake in shares of Chevron by 0.7% in the 1st quarter. Silverlake Wealth Management LLC now owns 10,929 shares of the oil and gas company's stock valued at $1,828,000 after purchasing an additional 78 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors.

Chevron Stock Down 0.2%

CVX opened at $151.33 on Friday. The business's fifty day moving average is $146.86 and its two-hundred day moving average is $148.80. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.82 and a current ratio of 1.08. The company has a market cap of $264.28 billion, a price-to-earnings ratio of 19.48, a PEG ratio of 2.39 and a beta of 0.87. Chevron Corporation has a one year low of $132.04 and a one year high of $168.96.

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

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Scotiabank reiterated a "sector perform" rating and issued a $160.00 target price (up from $143.00) on shares of Chevron in a research note on Friday, July 11th. Piper Sandler reiterated an "overweight" rating on shares of Chevron in a research note on Tuesday, July 15th. TD Cowen lowered their target price on Chevron from $155.00 to $150.00 and set a "hold" rating on the stock in a research note on Monday, May 5th. UBS Group lowered their target price on 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 Global Res downgraded Chevron from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 13th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, Chevron has a consensus rating of "Hold" and a consensus target price of $163.18.

About Chevron

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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