RWWM Inc. Lowers Holdings in Chevron Co. (NYSE:CVX)

RWWM Inc. decreased its position in shares of Chevron Co. (NYSE:CVX) by 5.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,426 shares of the oil and gas company’s stock after selling 216 shares during the period. Chevron makes up approximately 0.1% of RWWM Inc.’s investment portfolio, making the stock its 19th biggest position. RWWM Inc.’s holdings in Chevron were worth $536,000 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. Gilbert & Cook Inc. raised its stake in shares of Chevron by 3.7% during the 4th quarter. Gilbert & Cook Inc. now owns 10,312 shares of the oil and gas company’s stock worth $1,538,000 after acquiring an additional 369 shares in the last quarter. Aveo Capital Partners LLC raised its position in shares of Chevron by 1.0% in the fourth quarter. Aveo Capital Partners LLC now owns 8,617 shares of the oil and gas company’s stock worth $1,285,000 after acquiring an additional 82 shares during the period. Gryphon Financial Partners LLC grew its holdings in Chevron by 55.0% in the fourth quarter. Gryphon Financial Partners LLC now owns 11,404 shares of the oil and gas company’s stock valued at $1,648,000 after purchasing an additional 4,047 shares during the period. TrinityPoint Wealth LLC grew its stake in Chevron by 6.8% in the 4th quarter. TrinityPoint Wealth LLC now owns 10,646 shares of the oil and gas company’s stock valued at $1,588,000 after acquiring an additional 680 shares during the period. Finally, AXS Investments LLC increased its stake in shares of Chevron by 14.1% during the fourth quarter. AXS Investments LLC now owns 1,095 shares of the oil and gas company’s stock worth $163,000 after purchasing an additional 135 shares in the last quarter. Institutional investors own 72.42% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on CVX. Sanford C. Bernstein cut shares of Chevron from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $183.00 to $167.00 in a research note on Wednesday, July 17th. Truist Financial reduced their price objective on shares of Chevron from $156.00 to $154.00 and set a “hold” rating on the stock in a report on Monday, August 5th. Mizuho decreased their target price on Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a research note on Monday, September 16th. Barclays lowered their target price on Chevron from $203.00 to $185.00 and set an “overweight” rating for the company in a research note on Tuesday, August 6th. Finally, Scotiabank lowered their target price on shares of Chevron from $195.00 to $180.00 and set a “sector outperform” rating for the company in a research note on Friday, July 12th. Seven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $182.41.

Chevron Price Performance

NYSE CVX opened at $145.68 on Monday. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $171.70. The stock’s 50-day moving average price is $148.06 and its two-hundred day moving average price is $154.53. The company has a current ratio of 1.16, a quick ratio of 0.85 and a debt-to-equity ratio of 0.13. The company has a market cap of $268.48 billion, a PE ratio of 13.40, a PEG ratio of 2.48 and a beta of 1.09.

Chevron (NYSE:CVX) last announced 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 firm 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 quarterly revenue was up 4.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.08 EPS. On average, analysts predict that Chevron Co. will post 11.48 EPS for the current year.

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.48%. The ex-dividend date was Monday, August 19th. Chevron’s dividend payout ratio is 59.98%.

Chevron Company 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.