Norris Perne & French LLP MI Has $303,000 Stake in Chevron Co. (NYSE:CVX)

Norris Perne & French LLP MI decreased its holdings in shares of Chevron Co. (NYSE:CVX) by 13.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,055 shares of the oil and gas company’s stock after selling 306 shares during the quarter. Norris Perne & French LLP MI’s holdings in Chevron were worth $303,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in CVX. Silverlake Wealth Management LLC grew its holdings in shares of Chevron by 2.3% during the first quarter. Silverlake Wealth Management LLC now owns 10,026 shares of the oil and gas company’s stock worth $1,581,000 after purchasing an additional 221 shares during the last quarter. Tower Wealth Partners Inc. grew its holdings in shares of Chevron by 3.5% during the first quarter. Tower Wealth Partners Inc. now owns 3,727 shares of the oil and gas company’s stock worth $588,000 after purchasing an additional 126 shares during the last quarter. Sloy Dahl & Holst LLC grew its holdings in shares of Chevron by 3.4% during the first quarter. Sloy Dahl & Holst LLC now owns 4,087 shares of the oil and gas company’s stock worth $645,000 after purchasing an additional 135 shares during the last quarter. Monument Capital Management grew its holdings in shares of Chevron by 22.6% during the first quarter. Monument Capital Management now owns 6,795 shares of the oil and gas company’s stock worth $1,072,000 after purchasing an additional 1,253 shares during the last quarter. Finally, Carret Asset Management LLC grew its holdings in shares of Chevron by 2.1% during the first quarter. Carret Asset Management LLC now owns 82,532 shares of the oil and gas company’s stock worth $13,019,000 after purchasing an additional 1,712 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently commented on CVX shares. Royal Bank of Canada reiterated an “outperform” rating and issued a $170.00 target price on shares of Chevron in a report on Tuesday, October 8th. Mizuho reduced their target price on Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a report on Monday, September 16th. Barclays reduced their target price on Chevron from $185.00 to $168.00 and set an “overweight” rating on the stock in a report on Thursday, October 3rd. Scotiabank reduced their target price on Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Finally, UBS Group upped their target price on Chevron from $189.00 to $192.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Five research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, Chevron currently has a consensus rating of “Moderate Buy” and an average target price of $173.07.

Chevron Price Performance

Shares of NYSE:CVX opened at $148.80 on Friday. The company has a quick ratio of 0.85, a current ratio of 1.16 and a debt-to-equity ratio of 0.13. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $167.11. The stock’s 50 day moving average is $146.85 and its 200-day moving average is $153.01. The firm has a market capitalization of $272.14 billion, a price-to-earnings ratio of 14.73, a PEG ratio of 3.27 and a beta of 1.09.

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 return on equity of 13.70% and a net margin of 9.31%. The firm had revenue of $51.18 billion for the quarter, compared to analyst estimates of $48.68 billion. During the same period in the previous year, the company earned $3.08 earnings per share. Chevron’s revenue for the quarter was up 4.7% compared to the same quarter last year. Sell-side analysts forecast that Chevron Co. will post 10.74 EPS 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.