Chevron Corporation $CVX Shares Bought by Strategic Investment Advisors MI

Strategic Investment Advisors MI raised its holdings in Chevron Corporation (NYSE:CVX) by 380.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 10,611 shares of the oil and gas company’s stock after purchasing an additional 8,403 shares during the quarter. Strategic Investment Advisors MI’s holdings in Chevron were worth $2,195,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Chevron in the 4th quarter valued at about $3,727,586,000. State Street Corp grew its holdings in Chevron by 9.1% during the third quarter. State Street Corp now owns 152,605,988 shares of the oil and gas company’s stock worth $23,698,184,000 after acquiring an additional 12,789,399 shares during the period. Berkshire Hathaway Inc raised its position 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 acquiring an additional 8,091,570 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its position 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 acquiring an additional 5,537,580 shares in the last quarter. Finally, Aristotle Capital Management LLC lifted its holdings in Chevron by 653.0% in the first quarter. Aristotle Capital Management LLC now owns 4,526,223 shares of the oil and gas company’s stock valued at $936,492,000 after acquiring an additional 3,925,137 shares during the period. 72.42% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Chevron

In related news, Director John B. Hess sold 380,000 shares of Chevron stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $193.20, for a total value of $73,416,000.00. Following the sale, the director directly owned 278,045 shares in the company, valued at approximately $53,718,294. The trade was a 57.75% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.56% of the company’s stock.

Wall Street Analyst Weigh In

CVX has been the topic of several recent research reports. Piper Sandler initiated coverage on Chevron in a research report on Thursday, July 23rd. They issued an “overweight” rating and a $207.00 price objective on the stock. Wells Fargo & Company lifted their target price on shares of Chevron from $204.00 to $222.00 and gave the company an “overweight” rating in a report on Thursday, April 9th. Scotiabank boosted their target price on shares of Chevron from $168.00 to $187.00 and gave the company a “sector perform” rating in a research note on Wednesday, April 22nd. Tudor Pickering raised shares of Chevron from a “hold” rating to a “buy” rating and set a $225.00 price target on the stock in a report on Thursday, April 9th. Finally, Morgan Stanley dropped their price target on shares of Chevron from $214.00 to $210.00 and set an “overweight” rating on the stock in a research report on Monday, June 29th. Nineteen research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $206.04.

Chevron Stock Performance

Shares of CVX stock opened at $191.91 on Thursday. Chevron Corporation has a 12-month low of $146.49 and a 12-month high of $214.71. The company has a market capitalization of $382.21 billion, a P/E ratio of 33.26, a P/E/G ratio of 0.62 and a beta of 0.50. The company has a current ratio of 1.09, a quick ratio of 0.84 and a debt-to-equity ratio of 0.21. The business’s 50 day moving average is $181.81 and its two-hundred day moving average is $184.66.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, May 1st. The oil and gas company reported $1.41 EPS for the quarter, topping the consensus estimate of $1.00 by $0.41. Chevron had a net margin of 5.79% and a return on equity of 6.90%. The company had revenue of $47.56 billion during the quarter, compared to analyst estimates of $51.86 billion. During the same quarter in the previous year, the firm earned $2.18 EPS. The firm’s revenue was up 2.1% compared to the same quarter last year. Analysts expect that Chevron Corporation will post 15.61 EPS for the current fiscal year.

Chevron News Roundup

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Geopolitical tensions lifted oil prices. Renewed hostilities involving Iran, U.S. forces and Iran-backed groups reduced hopes that the Strait of Hormuz would quickly reopen, supporting crude prices. Higher commodity prices generally benefit Chevron’s production and profitability. Oil Prices Spike After Iran Launches Surprise Attack on U.S. Forces
• Positive Sentiment: Chevron is benefiting from stronger Venezuelan production. Reports highlighted rising oil output following the U.S. takeover of Venezuela, adding to the company’s production growth narrative and helping CVX outperform many other Dow stocks. Dow Leader Rides Surging Oil Prices And Trump’s Venezuela Spoils
• Positive Sentiment: Bank of America’s relative preference supports CVX. BofA downgraded Exxon Mobil to Neutral while maintaining a Buy-rated view on Chevron, providing a favorable analyst comparison for CVX within the large-cap oil sector. Exxon Cut to Neutral at BofA, Which Favors Buy-Rated Chevron
• Neutral Sentiment: Second-quarter earnings are the next major catalyst. Chevron is scheduled to report on July 31. Investors are weighing the benefit of higher oil prices against potentially volatile commodity-driven earnings and the company’s prior year-over-year earnings decline. Pre-Q2 Earnings: Is Chevron Stock a Buy, Hold, or Sell?
• Neutral Sentiment: International expansion remains an opportunity with execution risks. Chevron is discussing Iraqi oil fields and export projects while also seeking U.S. government support to protect its Kazakhstan assets. The initiatives could expand production, but they expose the company to geopolitical and regulatory uncertainty. Chevron Returns to Iraq: What Do the Latest Oilfield Talks Signal?

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.