Rice Hall James & Associates LLC Decreases Stock Holdings in Chevron Co. (NYSE:CVX)

Rice Hall James & Associates LLC lowered its position in shares of Chevron Co. (NYSE:CVX) by 9.6% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,377 shares of the oil and gas company’s stock after selling 360 shares during the period. Rice Hall James & Associates LLC’s holdings in Chevron were worth $497,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Marietta Wealth Management LLC increased its holdings in Chevron by 10.9% during the 3rd quarter. Marietta Wealth Management LLC now owns 40,484 shares of the oil and gas company’s stock valued at $5,962,000 after purchasing an additional 3,965 shares during the period. Leo Wealth LLC grew its position in shares of Chevron by 19.6% in the 3rd quarter. Leo Wealth LLC now owns 8,246 shares of the oil and gas company’s stock worth $1,214,000 after buying an additional 1,354 shares during the last quarter. KCM Investment Advisors LLC increased its stake in shares of Chevron by 2.5% during the first quarter. KCM Investment Advisors LLC now owns 331,550 shares of the oil and gas company’s stock valued at $52,299,000 after buying an additional 8,168 shares during the period. Hosking Partners LLP bought a new position in shares of Chevron during the first quarter valued at approximately $4,924,000. Finally, Garner Asset Management Corp lifted its stake in Chevron by 14.5% in the second quarter. Garner Asset Management Corp now owns 19,997 shares of the oil and gas company’s stock worth $3,128,000 after acquiring an additional 2,530 shares during the period. Institutional investors own 72.42% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on CVX shares. Barclays reduced their price objective on shares of Chevron from $185.00 to $168.00 and set an “overweight” rating on the stock in a research report on Thursday, October 3rd. Mizuho reduced their price target 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. Wolfe Research began coverage on shares of Chevron in a report on Thursday, July 18th. They issued a “peer perform” rating for the company. Wells Fargo & Company reduced their target price on Chevron from $196.00 to $169.00 and set an “overweight” rating on the stock in a report on Friday, September 27th. Finally, UBS Group increased their target price on Chevron from $189.00 to $192.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Five equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $173.07.

Chevron Price Performance

CVX opened at $153.07 on Friday. The firm has a market cap of $279.95 billion, a PE ratio of 16.82, a P/E/G ratio of 3.29 and a beta of 1.09. The stock has a 50-day moving average price of $146.96 and a 200-day moving average price of $152.96. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $167.11. 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 (NYSE:CVX) last issued its earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.93 by ($0.38). The firm had revenue of $51.18 billion during the quarter, compared to analysts’ expectations of $48.68 billion. Chevron had a return on equity of 13.70% and a net margin of 9.31%. The firm’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period last year, the firm posted $3.08 earnings per share. Sell-side analysts predict that Chevron Co. will post 10.74 earnings per share for the current fiscal year.

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.