Chapman Investment Management LLC Sells 227 Shares of Chevron Co. (NYSE:CVX)

Chapman Investment Management LLC trimmed its stake in Chevron Co. (NYSE:CVX) by 4.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,724 shares of the oil and gas company’s stock after selling 227 shares during the period. Chevron makes up approximately 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 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Campbell Wealth Management purchased a new stake in Chevron in the third quarter worth approximately $309,000. Gladstone Institutional Advisory LLC raised its position in Chevron by 6.8% in the 3rd quarter. Gladstone Institutional Advisory LLC now owns 49,241 shares of the oil and gas company’s stock worth $7,252,000 after purchasing an additional 3,122 shares during the period. Shepherd Financial Partners LLC boosted its position in Chevron by 6.4% during the third quarter. Shepherd Financial Partners LLC now owns 4,337 shares of the oil and gas company’s stock valued at $639,000 after buying an additional 259 shares during the period. Fonville Wealth Management LLC bought a new position in shares of Chevron during the third quarter valued at about $233,000. Finally, Absher Wealth Management LLC lifted its stake in shares of Chevron by 15.4% in the 3rd quarter. Absher Wealth Management LLC now owns 139,321 shares of the oil and gas company’s stock valued at $20,518,000 after acquiring an additional 18,568 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors.

Chevron Price Performance

NYSE CVX opened at $153.07 on Friday. The business’s fifty day moving average is $146.96 and its 200 day moving average is $152.98. Chevron Co. has a fifty-two week low of $135.37 and a fifty-two week high of $167.11. 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 $279.95 billion, a PE ratio of 15.16, a price-to-earnings-growth ratio of 3.29 and a beta of 1.09.

Chevron (NYSE:CVX) last posted 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). Chevron had a net margin of 9.31% and a return on equity of 13.70%. The company had revenue of $51.18 billion for the quarter, compared to analysts’ expectations of $48.68 billion. During the same period in the previous year, the firm earned $3.08 earnings per share. The firm’s quarterly revenue was up 4.7% on a year-over-year basis. Sell-side analysts predict that Chevron Co. will post 10.74 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on CVX. Wells Fargo & Company dropped their price objective on Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a research note on Friday, September 27th. Bank of America assumed coverage on shares of Chevron in a research report on Thursday, October 17th. They issued a “buy” rating and a $168.00 price objective on the stock. Barclays dropped their target price on shares of Chevron from $185.00 to $168.00 and set an “overweight” rating for the company in a report on Thursday, October 3rd. Wolfe Research started coverage on Chevron in a report on Thursday, July 18th. They set a “peer perform” rating on the stock. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $170.00 target price on shares of Chevron in a research note on Tuesday, October 8th. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, Chevron has a consensus rating of “Moderate Buy” and a consensus 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.