Pure Financial Advisors LLC Acquires 4,341 Shares of Chevron Co. (NYSE:CVX)

Pure Financial Advisors LLC increased its holdings in Chevron Co. (NYSE:CVX) by 42.6% during the third quarter, Holdings Channel reports. The firm owned 14,535 shares of the oil and gas company’s stock after acquiring an additional 4,341 shares during the quarter. Pure Financial Advisors LLC’s holdings in Chevron were worth $2,141,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CVX. Arcadia Investment Management Corp MI lifted its holdings in shares of Chevron by 7.4% in the third quarter. Arcadia Investment Management Corp MI now owns 7,214 shares of the oil and gas company’s stock worth $1,062,000 after buying an additional 500 shares in the last quarter. Clear Creek Financial Management LLC increased its holdings in Chevron by 5.4% in the 3rd quarter. Clear Creek Financial Management LLC now owns 17,802 shares of the oil and gas company’s stock valued at $2,622,000 after acquiring an additional 920 shares during the last quarter. Argonautica Private Wealth Management Inc. lifted its stake in Chevron by 0.8% in the 3rd quarter. Argonautica Private Wealth Management Inc. now owns 14,442 shares of the oil and gas company’s stock worth $2,127,000 after purchasing an additional 118 shares in the last quarter. Sollinda Capital Management LLC bought a new position in shares of Chevron during the 3rd quarter valued at about $205,000. Finally, First Interstate Bank grew 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 purchasing an additional 585 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

CVX has been the topic of a number of research analyst reports. Mizuho decreased their target price on Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a research report on Monday, September 16th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $170.00 price objective on shares of Chevron in a report on Tuesday, October 8th. Wells Fargo & Company cut their target price on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a report on Friday, September 27th. Sanford C. Bernstein lowered shares of Chevron from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $183.00 to $167.00 in a research report on Wednesday, July 17th. Finally, Scotiabank reduced their target price on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Five equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $173.07.

Chevron Trading Up 2.9 %

CVX 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 company has a debt-to-equity ratio of 0.13, a quick ratio of 0.85 and a current ratio of 1.16. The stock has a market cap of $279.95 billion, a price-to-earnings ratio of 16.82, a P/E/G ratio of 3.29 and a beta of 1.09. The stock’s 50 day moving average price is $146.96 and its 200-day moving average price is $152.96.

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 the consensus estimate of $2.93 by ($0.38). The company 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 company’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period in the prior year, the business earned $3.08 EPS. On average, equities analysts forecast that Chevron Co. will post 10.74 EPS 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.