Campbell Capital Management Inc. Acquires 6,302 Shares of Chevron Co. (NYSE:CVX)

Campbell Capital Management Inc. raised its holdings in shares of Chevron Co. (NYSE:CVX) by 15.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 46,658 shares of the oil and gas company’s stock after purchasing an additional 6,302 shares during the period. Chevron accounts for about 2.7% of Campbell Capital Management Inc.’s holdings, making the stock its 11th largest holding. Campbell Capital Management Inc.’s holdings in Chevron were worth $6,871,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Anfield Capital Management LLC raised its position in shares of Chevron by 118.0% in the 2nd quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock worth $34,000 after acquiring an additional 118 shares in the last quarter. Cyrus J. Lawrence LLC raised its position in shares of Chevron by 66.7% in the 2nd quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock worth $39,000 after acquiring an additional 100 shares in the last quarter. Krane Funds Advisors LLC bought a new position in shares of Chevron in the 3rd quarter worth approximately $47,000. Livelsberger Financial Advisory bought a new position in shares of Chevron in the 3rd quarter worth approximately $47,000. Finally, MFA Wealth Advisors LLC bought a new position in shares of Chevron in the 2nd quarter worth approximately $59,000. Institutional investors own 72.42% of the company’s stock.

Chevron Price Performance

Shares of Chevron stock opened at $153.07 on Friday. Chevron Co. has a one year low of $135.37 and a one year high of $167.11. The stock’s fifty day moving average is $146.96 and its 200 day moving average is $152.96. The stock has a market cap of $279.95 billion, a P/E ratio of 16.82, a P/E/G ratio of 3.29 and a beta of 1.09. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.85 and a current ratio of 1.16.

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

Analyst Ratings Changes

Several brokerages have recently issued reports on CVX. Wolfe Research began coverage on Chevron in a research report on Thursday, July 18th. They issued a “peer perform” rating for the company. Mizuho cut their price target on Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a research note on Monday, September 16th. Truist Financial cut their price target on Chevron from $154.00 to $150.00 and set a “hold” rating on the stock in a research note on Monday, September 30th. Scotiabank cut their price target on Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. Finally, UBS Group upped their price target on Chevron from $189.00 to $192.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Chevron has an average rating of “Moderate Buy” and an average target price of $173.07.

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.