Sonora Investment Management Group LLC Raises Stake in Chevron Co. (NYSE:CVX)

Sonora Investment Management Group LLC lifted its position in shares of Chevron Co. (NYSE:CVX) by 8.0% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 83,143 shares of the oil and gas company’s stock after buying an additional 6,154 shares during the quarter. Sonora Investment Management Group LLC’s holdings in Chevron were worth $12,042,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Legacy Investment Solutions LLC purchased a new stake in Chevron in the third quarter valued at approximately $29,000. Rational Advisors LLC purchased a new stake in Chevron in the third quarter valued at approximately $29,000. Darwin Wealth Management LLC purchased a new stake in Chevron in the third quarter valued at approximately $30,000. RPg Family Wealth Advisory LLC purchased a new stake in Chevron in the third quarter valued at approximately $31,000. Finally, Livelsberger Financial Advisory purchased a new stake in Chevron in the third quarter valued at approximately $47,000. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Raymond James boosted their target price on shares of Chevron from $175.00 to $180.00 and gave the company an “outperform” rating in a report on Friday, January 17th. Royal Bank of Canada lifted their price target on shares of Chevron from $170.00 to $175.00 and gave the company an “outperform” rating in a research report on Monday, November 4th. Piper Sandler reduced their price target on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. Citigroup raised shares of Chevron from a “neutral” rating to a “buy” rating and lifted their price target for the company from $145.00 to $185.00 in a research report on Tuesday, November 26th. Finally, Truist Financial lifted their price target on shares of Chevron from $160.00 to $164.00 and gave the company a “hold” rating in a research report on Monday, January 13th. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $175.27.

Insider Buying and Selling at Chevron

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of the stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the transaction, the chief executive officer now directly owns 4,280 shares in the company, valued at $685,356.40. This represents a 97.47 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.20% of the stock is currently owned by insiders.

Chevron Trading Down 4.5 %

NYSE CVX opened at $149.21 on Friday. The company’s fifty day simple moving average is $153.46 and its 200-day simple moving average is $151.20. Chevron Co. has a 52 week low of $135.37 and a 52 week high of $167.11. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. The stock has a market cap of $268.14 billion, a P/E ratio of 16.40, a PEG ratio of 1.35 and a beta of 1.12.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, January 31st. The oil and gas company reported $2.06 EPS for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.36). Chevron had a net margin of 8.44% and a return on equity of 13.15%. During the same quarter in the prior year, the company earned $3.45 EPS. Equities research analysts predict that Chevron Co. will post 10.18 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.