Chevron Co. (NYSE:CVX) Shares Sold by Sheets Smith Wealth Management

Sheets Smith Wealth Management lowered its stake in shares of Chevron Co. (NYSE:CVX) by 3.2% during the 4th quarter, HoldingsChannel.com reports. The fund owned 8,201 shares of the oil and gas company’s stock after selling 270 shares during the quarter. Sheets Smith Wealth Management’s holdings in Chevron were worth $693,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Demars Financial Group LLC acquired a new position in Chevron in the 2nd quarter worth approximately $32,000. BNC Wealth Management LLC acquired a new position in Chevron in the 3rd quarter worth approximately $33,000. Kathmere Capital Management LLC acquired a new position in Chevron in the 3rd quarter worth approximately $33,000. Evolution Wealth Advisors LLC increased its holdings in Chevron by 136.4% in the 3rd quarter. Evolution Wealth Advisors LLC now owns 636 shares of the oil and gas company’s stock worth $46,000 after buying an additional 367 shares during the period. Finally, Toth Financial Advisory Corp increased its holdings in Chevron by 36.0% in the 3rd quarter. Toth Financial Advisory Corp now owns 756 shares of the oil and gas company’s stock worth $54,000 after buying an additional 200 shares during the period. Institutional investors own 62.27% of the company’s stock.

Shares of CVX opened at $93.25 on Thursday. Chevron Co. has a 52-week low of $51.60 and a 52-week high of $117.29. The company has a market capitalization of $174.13 billion, a PE ratio of -15.19, a price-to-earnings-growth ratio of 6.13 and a beta of 1.33. The stock has a fifty day simple moving average of $89.04 and a two-hundred day simple moving average of $83.07. The company has a quick ratio of 0.97, a current ratio of 1.26 and a debt-to-equity ratio of 0.26.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Wednesday, November 4th. The oil and gas company reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.38. The firm had revenue of $24.45 billion during the quarter, compared to the consensus estimate of $26.34 billion. Chevron had a positive return on equity of 1.75% and a negative net margin of 10.86%. The company’s quarterly revenue was down 32.3% on a year-over-year basis. During the same period last year, the company earned $1.55 EPS. As a group, equities analysts anticipate that Chevron Co. will post -0.09 earnings per share for the current fiscal year.

CVX has been the topic of several recent research reports. Morgan Stanley lowered their price objective on Chevron from $114.00 to $113.00 and set an “overweight” rating on the stock in a research report on Monday. Zacks Investment Research upgraded Chevron from a “sell” rating to a “hold” rating and set a $95.00 price objective on the stock in a research report on Tuesday, December 15th. Truist upped their price objective on Chevron in a research report on Monday, January 4th. Smith Barney Citigroup upped their price objective on Chevron from $69.00 to $90.00 in a research report on Wednesday, December 9th. Finally, MKM Partners initiated coverage on Chevron in a research report on Thursday, September 24th. They issued a “buy” rating and a $121.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eighteen have assigned a buy rating to the company’s stock. Chevron currently has a consensus rating of “Buy” and a consensus target price of $103.00.

Chevron Profile

Chevron Corporation, through its subsidiaries, engages in integrated energy, chemicals, and petroleum operations worldwide. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, and production of crude oil and natural gas; processing, liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and transportation, storage, and marketing of natural gas, as well as operates a gas-to-liquids plant.

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