Phillips Wealth Planners LLC Boosts Stock Holdings in Chevron Co. (NYSE:CVX)

Phillips Wealth Planners LLC lifted its stake in shares of Chevron Co. (NYSE:CVX) by 13.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,946 shares of the oil and gas company’s stock after acquiring an additional 950 shares during the quarter. Chevron accounts for about 1.1% of Phillips Wealth Planners LLC’s portfolio, making the stock its 18th largest position. Phillips Wealth Planners LLC’s holdings in Chevron were worth $1,182,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of CVX. Montz Harcus Wealth Management LLC boosted its stake in Chevron by 2.2% during the 2nd quarter. Montz Harcus Wealth Management LLC now owns 2,943 shares of the oil and gas company’s stock valued at $460,000 after purchasing an additional 63 shares during the period. Hubbell Strickland Wealth Management LLC boosted its stake in Chevron by 0.7% during the 2nd quarter. Hubbell Strickland Wealth Management LLC now owns 9,493 shares of the oil and gas company’s stock valued at $1,485,000 after purchasing an additional 64 shares during the period. Cyndeo Wealth Partners LLC lifted its stake in shares of Chevron by 0.3% in the 3rd quarter. Cyndeo Wealth Partners LLC now owns 19,769 shares of the oil and gas company’s stock worth $2,911,000 after acquiring an additional 67 shares during the period. S.A. Mason LLC raised its holdings in shares of Chevron by 0.7% in the 3rd quarter. S.A. Mason LLC now owns 9,033 shares of the oil and gas company’s stock worth $1,330,000 after purchasing an additional 67 shares in the last quarter. Finally, Jaffetilchin Investment Partners LLC raised its holdings in shares of Chevron by 1.2% in the 2nd quarter. Jaffetilchin Investment Partners LLC now owns 5,777 shares of the oil and gas company’s stock worth $904,000 after purchasing an additional 68 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on CVX shares. Royal Bank of Canada restated an “outperform” rating and set a $170.00 price target on shares of Chevron in a report on Tuesday, October 8th. Barclays cut their price target on shares of Chevron from $185.00 to $168.00 and set an “overweight” rating on the stock in a report on Thursday, October 3rd. Bank of America initiated coverage on shares of Chevron in a research report on Thursday, October 17th. They set a “buy” rating and a $168.00 price objective on the stock. Mizuho lowered their price objective on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a research report on Monday, September 16th. Finally, Scotiabank lowered their price objective on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $173.07.

Chevron Price Performance

NYSE CVX opened at $153.07 on Friday. The company has a current ratio of 1.16, a quick ratio of 0.85 and a debt-to-equity ratio of 0.13. The company has a fifty day simple moving average of $146.96 and a 200 day simple moving average of $152.98. The company has a market cap of $279.95 billion, a P/E ratio of 15.16, a P/E/G ratio of 3.29 and a beta of 1.09. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $167.11.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.93 by ($0.38). The firm had revenue of $51.18 billion for the quarter, compared to the consensus estimate of $48.68 billion. Chevron had a return on equity of 13.70% and a net margin of 9.31%. Chevron’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period in the prior year, the company posted $3.08 earnings per share. On average, sell-side analysts predict that Chevron Co. will post 10.74 EPS 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.