Chevron Co. (NYSE:CVX) Shares Acquired by Gamco Investors INC. ET AL

Gamco Investors INC. ET AL boosted its stake in shares of Chevron Co. (NYSE:CVX) by 6.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 27,377 shares of the oil and gas company’s stock after purchasing an additional 1,552 shares during the quarter. Gamco Investors INC. ET AL’s holdings in Chevron were worth $4,318,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Berkshire Hathaway Inc boosted its position in Chevron by 14.4% during the 4th quarter. Berkshire Hathaway Inc now owns 126,093,326 shares of the oil and gas company’s stock valued at $18,808,081,000 after purchasing an additional 15,845,037 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of Chevron by 8.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 26,235,473 shares of the oil and gas company’s stock worth $3,886,821,000 after purchasing an additional 1,999,332 shares in the last quarter. Norges Bank bought a new position in shares of Chevron in the fourth quarter worth $2,902,007,000. Bank of New York Mellon Corp grew its stake in shares of Chevron by 4.2% in the first quarter. Bank of New York Mellon Corp now owns 16,103,302 shares of the oil and gas company’s stock worth $2,540,135,000 after purchasing an additional 654,482 shares in the last quarter. Finally, Capital World Investors grew its stake in shares of Chevron by 3.2% in the first quarter. Capital World Investors now owns 16,009,766 shares of the oil and gas company’s stock worth $2,525,380,000 after purchasing an additional 495,879 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on CVX shares. Truist Financial decreased their price target on Chevron from $166.00 to $156.00 and set a “hold” rating for the company in a research note on Monday, July 22nd. Raymond James increased their price target on Chevron from $170.00 to $174.00 and gave the stock an “outperform” rating in a research note on Monday, April 15th. The Goldman Sachs Group reissued a “buy” rating on shares of Chevron in a research note on Monday, April 1st. Sanford C. Bernstein cut Chevron from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $183.00 to $167.00 in a research note on Wednesday, July 17th. Finally, Scotiabank decreased their price target on 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 analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Chevron presently has an average rating of “Moderate Buy” and an average price target of $185.67.

Chevron Trading Up 0.2 %

Shares of NYSE CVX traded up $0.30 during mid-day trading on Friday, hitting $157.84. 5,232,519 shares of the company traded hands, compared to its average volume of 6,005,936. Chevron Co. has a 1 year low of $139.62 and a 1 year high of $171.70. The stock has a market capitalization of $290.89 billion, a price-to-earnings ratio of 14.52, a PEG ratio of 2.54 and a beta of 1.10. The company has a quick ratio of 0.93, a current ratio of 1.23 and a debt-to-equity ratio of 0.13. The business has a 50 day moving average of $156.68 and a two-hundred day moving average of $155.65.

Chevron (NYSE:CVX) last announced its earnings results on Friday, April 26th. The oil and gas company reported $2.93 EPS for the quarter, beating the consensus estimate of $2.84 by $0.09. Chevron had a return on equity of 14.40% and a net margin of 10.21%. The business had revenue of $48.72 billion during the quarter, compared to the consensus estimate of $48.42 billion. During the same period in the prior year, the business posted $3.55 earnings per share. Chevron’s revenue was down 4.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Chevron Co. will post 12.45 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Enrique Hernandez, Jr. sold 2,549 shares of the company’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $161.00, for a total transaction of $410,389.00. Following the completion of the sale, the director now directly owns 7,647 shares of the company’s stock, valued at $1,231,167. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director Enrique Hernandez, Jr. sold 5,098 shares of the stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $163.50, for a total value of $833,523.00. Following the completion of the sale, the director now directly owns 2,549 shares of the company’s stock, valued at approximately $416,761.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Enrique Hernandez, Jr. sold 2,549 shares of the stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $161.00, for a total value of $410,389.00. Following the completion of the sale, the director now directly owns 7,647 shares of the company’s stock, valued at $1,231,167. The disclosure for this sale can be found here. Insiders sold a total of 13,946 shares of company stock valued at $2,265,971 over the last three months. Insiders own 0.20% of the company’s stock.

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.