Asset Management One Co. Ltd. Lowers Position in Chevron Co. (NYSE:CVX)

Asset Management One Co. Ltd. decreased its position in shares of Chevron Co. (NYSE:CVX) by 1.5% during the third quarter, according to its most recent filing with the SEC. The firm owned 780,782 shares of the oil and gas company’s stock after selling 11,681 shares during the period. Asset Management One Co. Ltd.’s holdings in Chevron were worth $114,986,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Montz Harcus Wealth Management LLC lifted its position in Chevron by 2.2% during the second quarter. Montz Harcus Wealth Management LLC now owns 2,943 shares of the oil and gas company’s stock valued at $460,000 after purchasing an additional 63 shares during the last quarter. Hubbell Strickland Wealth Management LLC raised its position in shares of Chevron by 0.7% during the 2nd quarter. Hubbell Strickland Wealth Management LLC now owns 9,493 shares of the oil and gas company’s stock valued at $1,485,000 after buying an additional 64 shares in the last quarter. Cyndeo Wealth Partners LLC lifted its holdings in shares of Chevron by 0.3% in the 3rd quarter. Cyndeo Wealth Partners LLC now owns 19,769 shares of the oil and gas company’s stock valued at $2,911,000 after acquiring an additional 67 shares during the last quarter. S.A. Mason LLC grew its position in Chevron by 0.7% in the third quarter. S.A. Mason LLC now owns 9,033 shares of the oil and gas company’s stock worth $1,330,000 after acquiring an additional 67 shares in the last quarter. Finally, Jaffetilchin Investment Partners LLC increased its stake in Chevron by 1.2% during the second quarter. Jaffetilchin Investment Partners LLC now owns 5,777 shares of the oil and gas company’s stock worth $904,000 after acquiring an additional 68 shares during the last quarter. Institutional investors own 72.42% of the company’s stock.

Chevron Stock Performance

Chevron stock opened at $153.81 on Monday. 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 company has a market capitalization of $281.31 billion, a PE ratio of 16.82, a P/E/G ratio of 3.29 and a beta of 1.09. The company has a 50 day moving average price of $146.96 and a 200-day moving average price of $152.93. Chevron Co. has a fifty-two week low of $135.37 and a fifty-two week high of $167.11.

Chevron (NYSE:CVX) last issued its earnings results 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). Chevron had a net margin of 9.31% and a return on equity of 13.70%. The firm had revenue of $51.18 billion for the quarter, compared to the consensus estimate of $48.68 billion. During the same period last year, the firm earned $3.08 earnings per share. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. As a group, equities analysts forecast that Chevron Co. will post 10.74 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CVX. Scotiabank dropped their target price on Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $170.00 price objective on shares of Chevron in a research note on Tuesday, October 8th. Mizuho reduced their target price on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a research note on Monday, September 16th. Bank of America began coverage on shares of Chevron in a report on Thursday, October 17th. They issued a “buy” rating and a $168.00 target price for the company. Finally, Sanford C. Bernstein downgraded shares of Chevron from an “outperform” rating to a “market perform” rating and cut their price target for the company from $183.00 to $167.00 in a report on Wednesday, July 17th. Five equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, Chevron has a consensus rating of “Moderate Buy” and a consensus target price of $173.47.

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.