Chapman Investment Management LLC Decreases Stake in Chevron Co. (NYSE:CVX)

Chapman Investment Management LLC lessened its position in shares of Chevron Co. (NYSE:CVX) by 4.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,724 shares of the oil and gas company’s stock after selling 227 shares during the quarter. Chevron comprises 0.5% of Chapman Investment Management LLC’s portfolio, making the stock its 27th biggest holding. Chapman Investment Management LLC’s holdings in Chevron were worth $696,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Ameriprise Financial Inc. raised its stake in Chevron by 3.0% during the second quarter. Ameriprise Financial Inc. now owns 17,111,051 shares of the oil and gas company’s stock valued at $2,676,957,000 after purchasing an additional 501,969 shares in the last quarter. Capital World Investors lifted its holdings in shares of Chevron by 3.2% in the 1st quarter. Capital World Investors now owns 16,009,766 shares of the oil and gas company’s stock valued at $2,525,380,000 after acquiring an additional 495,879 shares during the last quarter. Legal & General Group Plc lifted its holdings in shares of Chevron by 4.9% in the 2nd quarter. Legal & General Group Plc now owns 13,570,971 shares of the oil and gas company’s stock valued at $2,122,772,000 after acquiring an additional 629,644 shares during the last quarter. Capital International Investors grew its position in Chevron by 5.9% in the first quarter. Capital International Investors now owns 13,418,287 shares of the oil and gas company’s stock worth $2,116,600,000 after acquiring an additional 743,042 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Chevron by 1.0% during the second quarter. Dimensional Fund Advisors LP now owns 13,021,023 shares of the oil and gas company’s stock worth $2,036,846,000 after acquiring an additional 126,889 shares during the last quarter. Institutional investors own 72.42% of the company’s stock.

Chevron Stock Performance

CVX stock opened at $153.07 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.16 and a quick ratio of 0.85. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $167.11. The business has a 50-day moving average price of $146.96 and a 200 day moving average price of $152.98. The company has a market capitalization of $279.95 billion, a P/E ratio of 15.16, a PEG ratio of 3.29 and a beta of 1.09.

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 business had revenue of $51.18 billion during the quarter, compared to the consensus estimate of $48.68 billion. Chevron had a net margin of 9.31% and a return on equity of 13.70%. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.08 EPS. As a group, equities research analysts forecast that Chevron Co. will post 10.74 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Sanford C. Bernstein cut Chevron from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $183.00 to $167.00 in a report on Wednesday, July 17th. Truist Financial dropped their price objective on shares of Chevron from $154.00 to $150.00 and set a “hold” rating for the company in a research note on Monday, September 30th. Wolfe Research began coverage on shares of Chevron in a research note on Thursday, July 18th. They issued a “peer perform” rating on the stock. Scotiabank dropped their price target on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. Finally, Mizuho reduced their price objective on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a research report on Monday, September 16th. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $173.07.

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.