Arcadia Investment Management Corp MI Purchases 500 Shares of Chevron Co. (NYSE:CVX)

Arcadia Investment Management Corp MI lifted its position in shares of Chevron Co. (NYSE:CVX) by 7.4% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 7,214 shares of the oil and gas company’s stock after acquiring an additional 500 shares during the quarter. Arcadia Investment Management Corp MI’s holdings in Chevron were worth $1,062,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Anfield Capital Management LLC grew its stake in shares of Chevron by 118.0% during 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 during the period. Cyrus J. Lawrence LLC boosted its stake in 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 purchasing an additional 100 shares during the period. Livelsberger Financial Advisory bought a new position in Chevron in the 3rd quarter worth about $47,000. Krane Funds Advisors LLC bought a new position in Chevron in the 3rd quarter worth about $47,000. Finally, MFA Wealth Advisors LLC bought a new position in Chevron in the 2nd quarter worth about $59,000. Institutional investors own 72.42% of the company’s stock.

Wall Street Analyst Weigh In

CVX has been the subject of several analyst reports. Truist Financial cut their target price on Chevron from $154.00 to $150.00 and set a “hold” rating for the company in a research note on Monday, September 30th. Sanford C. Bernstein downgraded Chevron from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $183.00 to $167.00 in a research note on Wednesday, July 17th. Royal Bank of Canada restated an “outperform” rating and issued a $170.00 target price on shares of Chevron in a research note on Tuesday, October 8th. Barclays cut their target price on Chevron from $185.00 to $168.00 and set an “overweight” rating for the company in a research note on Thursday, October 3rd. Finally, Mizuho dropped their price target on Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a research report on Monday, September 16th. Five equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, Chevron currently has an average rating of “Moderate Buy” and a consensus target price of $173.07.

Chevron Stock Performance

Shares of NYSE CVX opened at $153.07 on Friday. 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 company has a current ratio of 1.16, a quick ratio of 0.85 and a debt-to-equity ratio of 0.13. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $167.11. The stock’s 50-day moving average is $146.96 and its 200 day moving average is $152.96.

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