Sollinda Capital Management LLC Acquires New Shares in Chevron Co. (NYSE:CVX)

Sollinda Capital Management LLC bought a new position in shares of Chevron Co. (NYSE:CVX) in the third quarter, HoldingsChannel.com reports. The firm bought 1,389 shares of the oil and gas company’s stock, valued at approximately $205,000.

A number of other large investors have also made changes to their positions in the stock. First Interstate Bank raised its position in shares of Chevron by 8.8% during the third quarter. First Interstate Bank now owns 7,214 shares of the oil and gas company’s stock valued at $1,062,000 after buying an additional 585 shares during the last quarter. Invesco LLC grew its stake in Chevron by 1.5% during the third quarter. Invesco LLC now owns 11,658 shares of the oil and gas company’s stock worth $1,717,000 after buying an additional 169 shares during the last quarter. Fullcircle Wealth LLC grew its stake in Chevron by 14.1% during the third quarter. Fullcircle Wealth LLC now owns 10,841 shares of the oil and gas company’s stock worth $1,632,000 after buying an additional 1,340 shares during the last quarter. Tower Wealth Partners Inc. grew its stake in Chevron by 3.7% during the third quarter. Tower Wealth Partners Inc. now owns 3,052 shares of the oil and gas company’s stock worth $449,000 after buying an additional 109 shares during the last quarter. Finally, Phillips Wealth Planners LLC grew its stake in Chevron by 13.6% during the third quarter. Phillips Wealth Planners LLC now owns 7,946 shares of the oil and gas company’s stock worth $1,182,000 after buying an additional 950 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on CVX shares. Barclays cut their price objective 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. Wolfe Research assumed coverage on shares of Chevron in a report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Scotiabank lowered their price objective on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Mizuho lowered their price target on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a research note on Monday, September 16th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $170.00 price target on shares of Chevron in a research note on Tuesday, October 8th. Five research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $173.07.

Chevron Stock Performance

NYSE CVX traded up $4.25 during trading hours on Friday, reaching $153.07. 11,727,977 shares of the company were exchanged, compared to its average volume of 5,864,947. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $167.11. The business’s 50 day simple moving average is $146.96 and its 200-day simple moving average is $152.98. The company has a quick ratio of 0.85, a current ratio of 1.16 and a debt-to-equity ratio of 0.13. The stock has a market capitalization 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 (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 analysts’ consensus estimates of $2.93 by ($0.38). Chevron had a return on equity of 13.70% and a net margin of 9.31%. The company had revenue of $51.18 billion for the quarter, compared to analysts’ expectations of $48.68 billion. During the same quarter last year, the business posted $3.08 EPS. The business’s quarterly revenue was up 4.7% on a year-over-year basis. On average, equities research analysts expect that Chevron Co. will post 10.74 earnings per share for the current year.

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.