214,687 Shares in Chevron Corporation $CVX Purchased by Aware Super Pty Ltd as trustee of Aware Super

Aware Super Pty Ltd as trustee of Aware Super acquired a new position in Chevron Corporation (NYSE:CVX) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 214,687 shares of the oil and gas company’s stock, valued at approximately $44,419,000. Chevron accounts for about 0.7% of Aware Super Pty Ltd as trustee of Aware Super’s portfolio, making the stock its 26th largest position.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Norges Bank bought a new stake in shares of Chevron in the 4th quarter worth approximately $3,727,586,000. State Street Corp lifted its stake in Chevron by 9.1% in the third quarter. State Street Corp now owns 152,605,988 shares of the oil and gas company’s stock valued at $23,698,184,000 after purchasing an additional 12,789,399 shares during the last quarter. Berkshire Hathaway Inc grew its holdings in Chevron by 6.6% during the fourth quarter. Berkshire Hathaway Inc now owns 130,156,362 shares of the oil and gas company’s stock valued at $19,837,131,000 after purchasing an additional 8,091,570 shares during the period. Northwestern Mutual Wealth Management Co. grew its holdings in Chevron by 822.0% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 6,211,258 shares of the oil and gas company’s stock valued at $946,658,000 after purchasing an additional 5,537,580 shares during the period. Finally, Amundi grew its holdings in Chevron by 41.8% during the third quarter. Amundi now owns 11,760,376 shares of the oil and gas company’s stock valued at $1,811,333,000 after purchasing an additional 3,464,058 shares during the period. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on CVX shares. Wells Fargo & Company boosted their target price on Chevron from $204.00 to $222.00 and gave the company an “overweight” rating in a research note on Thursday, April 9th. Tudor Pickering upgraded Chevron from a “hold” rating to a “buy” rating and set a $225.00 price target for the company in a research note on Thursday, April 9th. Zacks Research lowered Chevron from a “strong-buy” rating to a “hold” rating in a report on Monday, June 8th. TD Cowen boosted their price objective on Chevron from $204.00 to $205.00 and gave the company a “hold” rating in a research note on Friday, May 8th. Finally, Wolfe Research raised shares of Chevron from a “peer perform” rating to an “outperform” rating and set a $210.00 price objective on the stock in a report on Thursday, July 2nd. Nineteen investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Chevron presently has an average rating of “Moderate Buy” and an average target price of $206.83.

Insider Buying and Selling

In other news, Director John B. Hess sold 380,000 shares of the business’s stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $193.20, for a total transaction of $73,416,000.00. Following the completion of the transaction, the director directly owned 278,045 shares in the company, valued at $53,718,294. The trade was a 57.75% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.56% of the stock is currently owned by insiders.

Key Stories Impacting Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron is expected to sign memorandums of understanding with Iraq to advance investment in the West Qurna 2 and Nassiriya oilfields, potentially expanding its long-term production base. Reuters article
• Positive Sentiment: The company is also exploring a pipeline alternative to the Strait of Hormuz, which could reduce export risk and support more reliable Iraqi oil shipments if geopolitical risk stays elevated. WSJ article
• Positive Sentiment: Chevron’s stock has also been helped by broader energy-sector strength, with energy shares rising even as the wider market softened. Yahoo Finance article
• Neutral Sentiment: Analysts and commentary suggest Chevron may be fairly valued after a strong five-year run, which supports the stock but also limits the upside from valuation alone. Yahoo Finance article
• Neutral Sentiment: Recent broker notes have been mixed, including hold ratings and modest price-target cuts, indicating Wall Street is constructive but not aggressively bullish. Yahoo Finance article

Chevron Stock Up 1.1%

CVX stock opened at $183.69 on Friday. The stock has a 50-day simple moving average of $181.42 and a two-hundred day simple moving average of $182.41. Chevron Corporation has a twelve month low of $146.49 and a twelve month high of $214.71. The firm has a market capitalization of $365.83 billion, a PE ratio of 31.83, a PEG ratio of 0.64 and a beta of 0.50. The company has a quick ratio of 0.84, a current ratio of 1.09 and a debt-to-equity ratio of 0.21.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, May 1st. The oil and gas company reported $1.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.00 by $0.41. Chevron had a net margin of 5.79% and a return on equity of 6.90%. The firm had revenue of $47.56 billion for the quarter, compared to the consensus estimate of $51.86 billion. During the same period in the prior year, the firm posted $2.18 earnings per share. The company’s revenue for the quarter was up 2.1% on a year-over-year basis. On average, equities analysts predict that Chevron Corporation will post 14.75 EPS for the current fiscal year.

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Tuesday, May 19th were issued a $1.78 dividend. This represents a $7.12 annualized dividend and a yield of 3.9%. The ex-dividend date of this dividend was Tuesday, May 19th. Chevron’s dividend payout ratio (DPR) is presently 123.40%.

About Chevron

Chevron Corporation (NYSE: CVX) is an American multinational energy company engaged in virtually all aspects of the oil and gas industry. As an integrated energy firm, Chevron’s core activities include upstream oil and natural gas exploration and production, midstream transportation and storage, downstream refining and marketing of fuels and lubricants, and petrochemical manufacturing through joint ventures and subsidiaries. The company markets fuels under brands such as Chevron, Texaco and Caltex and supplies a range of products and services to retail customers, industrial users and commercial fleets worldwide.

Chevron traces its corporate lineage to the early petroleum companies that eventually became Standard Oil of California and has evolved through significant mergers and restructurings, including the acquisitions of Gulf Oil and Texaco.