F M Investments LLC Has $9.35 Million Holdings in Chevron Co. (NYSE:CVX)

F M Investments LLC lowered its stake in shares of Chevron Co. (NYSE:CVX) by 2.9% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 63,369 shares of the oil and gas company’s stock after selling 1,913 shares during the period. F M Investments LLC’s holdings in Chevron were worth $9,352,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Anfield Capital Management LLC raised its position in Chevron by 118.0% in the 2nd quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock valued at $34,000 after buying an additional 118 shares during the last quarter. Cyrus J. Lawrence LLC raised its holdings in shares of Chevron by 66.7% in the second quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock valued at $39,000 after purchasing an additional 100 shares during the last quarter. Krane Funds Advisors LLC bought a new position in shares of Chevron during the third quarter valued at about $47,000. Livelsberger Financial Advisory bought a new stake in Chevron in the 3rd quarter worth about $47,000. Finally, MFA Wealth Advisors LLC bought a new position in shares of Chevron during the 2nd quarter worth approximately $59,000. 72.42% of the stock is owned by institutional investors.

Chevron Price Performance

NYSE CVX traded up $4.25 during trading hours on Friday, reaching $153.07. 11,727,977 shares of the stock traded hands, compared to its average volume of 5,864,947. The stock has a 50 day simple moving average of $146.96 and a two-hundred day simple moving average of $152.98. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $167.11. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.16 and a quick ratio of 0.85. The company has a market cap of $279.95 billion, a price-to-earnings ratio of 15.16, a price-to-earnings-growth ratio of 3.29 and a beta of 1.09.

Chevron (NYSE:CVX) last issued its earnings results 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 during the quarter, compared to analysts’ expectations of $48.68 billion. Chevron had a return on equity of 13.70% and a net margin of 9.31%. The firm’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period in the prior year, the company earned $3.08 EPS. On average, analysts predict that Chevron Co. will post 10.74 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

CVX has been the topic of several research analyst reports. Truist Financial cut their price objective on Chevron from $154.00 to $150.00 and set a “hold” rating on the stock in a research report on Monday, September 30th. Barclays reduced their target price on shares of Chevron from $185.00 to $168.00 and set an “overweight” rating for the company in a research report on Thursday, October 3rd. Royal Bank of Canada reissued an “outperform” rating and issued a $170.00 target price on shares of Chevron in a research report on Tuesday, October 8th. UBS Group lifted their price objective on Chevron from $189.00 to $192.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Finally, Wolfe Research started coverage on shares of Chevron in a report on Thursday, July 18th. They set a “peer perform” rating on the stock. Five equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target 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.