Rathbones Group PLC Increases Position in Chevron Corporation $CVX

Rathbones Group PLC boosted its holdings in Chevron Corporation (NYSE:CVX) by 0.9% during the fourth quarter, Holdings Channel.com reports. The firm owned 746,934 shares of the oil and gas company’s stock after acquiring an additional 6,558 shares during the quarter. Rathbones Group PLC’s holdings in Chevron were worth $113,840,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in CVX. Vanguard Group Inc. boosted its position in shares of Chevron by 17.9% in the 3rd quarter. Vanguard Group Inc. now owns 183,790,028 shares of the oil and gas company’s stock worth $28,540,753,000 after purchasing an additional 27,961,463 shares in the last quarter. State Street Corp grew its stake in shares of 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 worth $23,698,184,000 after acquiring an additional 12,789,399 shares during the last quarter. Primecap Management Co. CA purchased a new stake in shares of Chevron in the third quarter worth $988,083,000. Northwestern Mutual Wealth Management Co. increased its holdings in shares of 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, Bank of New York Mellon Corp increased its holdings in shares of Chevron by 27.9% during the third quarter. Bank of New York Mellon Corp now owns 19,627,146 shares of the oil and gas company’s stock valued at $3,047,900,000 after acquiring an additional 4,279,918 shares in the last quarter. 72.42% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director John B. Hess sold 195,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $184.78, for a total value of $36,032,100.00. Following the sale, the director owned 658,045 shares in the company, valued at approximately $121,593,555.10. This trade represents a 22.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Vice Chairman Mark A. Nelson sold 139,600 shares of the firm’s stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $187.92, for a total transaction of $26,233,632.00. Following the completion of the sale, the insider owned 11,337 shares in the company, valued at $2,130,449.04. This represents a 92.49% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 799,699 shares of company stock valued at $151,259,517 in the last ninety days. Corporate insiders own 0.56% of the company’s stock.

Chevron Stock Down 3.0%

Chevron stock opened at $191.39 on Thursday. The firm has a market cap of $381.18 billion, a price-to-earnings ratio of 33.17, a PEG ratio of 0.66 and a beta of 0.51. The stock has a fifty day simple moving average of $193.45 and a two-hundred day simple moving average of $174.25. Chevron Corporation has a 12 month low of $133.77 and a 12 month high of $214.71. The company has a current ratio of 1.09, a quick ratio of 0.84 and a debt-to-equity ratio of 0.21.

Chevron (NYSE:CVX) last posted its earnings results on Friday, May 1st. The oil and gas company reported $1.41 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.41. The business had revenue of $47.56 billion during the quarter, compared to analyst estimates of $51.86 billion. Chevron had a return on equity of 6.90% and a net margin of 5.79%.The company’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter last year, the company earned $2.18 EPS. Equities analysts predict that Chevron Corporation will post 15.43 EPS for the current fiscal year.

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Tuesday, May 19th will be issued a $1.78 dividend. The ex-dividend date is Tuesday, May 19th. This represents a $7.12 annualized dividend and a yield of 3.7%. Chevron’s dividend payout ratio (DPR) is currently 123.40%.

Key Headlines Impacting Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Oil prices remain elevated, and Zacks said WTI above $100 keeps Chevron and other Permian-focused energy names in the spotlight, supporting cash flow and investor interest. Article Title
• Positive Sentiment: Barrons argued Chevron can keep rising as oil prices increase, reinforcing the view that the company still has upside despite recent gains. Article Title
• Positive Sentiment: Bernstein analyst Bob Brackett said energy stocks like Chevron may be undervalued relative to Treasuries, framing CVX as an attractive income and total-return play. Article Title
• Positive Sentiment: Several recent pieces highlighted Chevron as a long-term, blue-chip energy holding, and Zacks noted rising earnings estimates for CVX, which can support the stock. Article Title
• Neutral Sentiment: Comparisons with Shell and ExxonMobil mainly keep Chevron in the investment conversation without adding a clear new catalyst. Article Title
• Negative Sentiment: The biggest overhang is Berkshire Hathaway’s latest stake reduction in Chevron, which can weigh on sentiment even though Berkshire still holds a meaningful position. Article Title

Wall Street Analysts Forecast Growth

CVX has been the subject of several analyst reports. TD Cowen raised their price target on Chevron from $204.00 to $205.00 and gave the company a “hold” rating in a report on Friday, May 8th. Morgan Stanley raised their price target on Chevron from $174.00 to $212.00 and gave the company an “overweight” rating in a report on Friday, March 27th. Argus set a $203.00 price target on Chevron in a report on Tuesday, February 3rd. Royal Bank Of Canada reiterated an “outperform” rating and set a $220.00 price target on shares of Chevron in a report on Tuesday, May 5th. Finally, HSBC upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $215.00 price target on the stock in a report on Friday, March 20th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $204.13.

Chevron Company Profile

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.