Deroy & Devereaux Private Investment Counsel Inc. Purchases 2,021 Shares of Chevron Co. (NYSE:CVX)

by · The Markets Daily

Deroy & Devereaux Private Investment Counsel Inc. grew its position in Chevron Co. (NYSE:CVX – Free Report) by 1.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 197,947 shares of the oil and gas company’s stock after acquiring an additional 2,021 shares during the quarter. Chevron accounts for about 1.7% of Deroy & Devereaux Private Investment Counsel Inc.’s holdings, making the stock its 22nd largest position. Deroy & Devereaux Private Investment Counsel Inc.’s holdings in Chevron were worth $29,152,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the company. Silverlake Wealth Management LLC raised its holdings in shares of Chevron by 2.3% in the 1st quarter. Silverlake Wealth Management LLC now owns 10,026 shares of the oil and gas company’s stock worth $1,581,000 after buying an additional 221 shares in the last quarter. Tower Wealth Partners Inc. raised its holdings in shares of Chevron by 3.5% in the 1st quarter. Tower Wealth Partners Inc. now owns 3,727 shares of the oil and gas company’s stock worth $588,000 after buying an additional 126 shares in the last quarter. Sloy Dahl & Holst LLC raised its holdings in shares of Chevron by 3.4% in the 1st quarter. Sloy Dahl & Holst LLC now owns 4,087 shares of the oil and gas company’s stock worth $645,000 after buying an additional 135 shares in the last quarter. Monument Capital Management raised its holdings in shares of Chevron by 22.6% in the 1st quarter. Monument Capital Management now owns 6,795 shares of the oil and gas company’s stock worth $1,072,000 after buying an additional 1,253 shares in the last quarter. Finally, Carret Asset Management LLC raised its holdings in shares of Chevron by 2.1% in the 1st quarter. Carret Asset Management LLC now owns 82,532 shares of the oil and gas company’s stock worth $13,019,000 after buying an additional 1,712 shares in the last quarter. Institutional investors own 72.42% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on CVX shares. Scotiabank dropped their price target on Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Sanford C. Bernstein cut Chevron from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $183.00 to $167.00 in a report on Wednesday, July 17th. Bank of America started coverage on Chevron in a report on Thursday, October 17th. They set a “buy” rating and a $168.00 price target for the company. Barclays dropped their price target on Chevron from $185.00 to $168.00 and set an “overweight” rating for the company in a report 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 report on Monday, September 16th. Five equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $173.07.

Read Our Latest Research Report on CVX

Chevron Price Performance

NYSE:CVX opened at $148.80 on Friday. 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’s 50-day simple moving average is $146.85 and its 200 day simple moving average is $153.01. The company has a market cap of $272.14 billion, a P/E ratio of 14.73, a P/E/G ratio of 3.27 and a beta of 1.09. Chevron Co. has a 52-week low of $135.37 and a 52-week high of $167.11.

Chevron (NYSE:CVX – Get Free Report) last released its earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). The company had revenue of $51.18 billion during the quarter, compared to analyst estimates 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 firm posted $3.08 EPS. As a group, sell-side analysts forecast that Chevron Co. will post 10.74 EPS for the current fiscal year.

Chevron Profile

(Free Report)

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.

Further Reading