South Dakota Investment Council Sells 21,716 Shares of Chevron Corporation $CVX

South Dakota Investment Council trimmed its holdings in shares of Chevron Corporation (NYSE:CVX) by 21.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 79,126 shares of the oil and gas company’s stock after selling 21,716 shares during the period. South Dakota Investment Council’s holdings in Chevron were worth $16,371,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in CVX. Curtis Advisory Group LLC purchased a new stake in Chevron during the 4th quarter valued at $1,381,000. Indivisible Partners bought a new stake in Chevron in the 4th quarter worth $1,923,000. Janney Montgomery Scott LLC grew its holdings in Chevron by 6.8% in the 1st quarter. Janney Montgomery Scott LLC now owns 1,251,102 shares of the oil and gas company’s stock worth $258,853,000 after acquiring an additional 79,439 shares during the last quarter. Galaxy Digital Inc. purchased a new position in shares of Chevron in the first quarter valued at about $2,028,000. Finally, Nations Financial Group Inc. IA ADV increased its position in shares of Chevron by 35.0% in the fourth quarter. Nations Financial Group Inc. IA ADV now owns 42,882 shares of the oil and gas company’s stock valued at $6,536,000 after acquiring an additional 11,120 shares during the period. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Chevron Trading Up 2.3%

NYSE:CVX opened at $191.91 on Thursday. The company has a 50-day moving average price of $181.81 and a 200-day moving average price of $184.66. The stock has a market cap of $382.21 billion, a price-to-earnings 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. Chevron Corporation has a 12 month low of $146.49 and a 12 month high of $214.71.

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, beating 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 for the quarter, compared to analysts’ expectations of $51.86 billion. During the same quarter in the previous year, the company earned $2.18 earnings per share. Chevron’s quarterly revenue was up 2.1% on a year-over-year basis. Equities analysts predict that Chevron Corporation will post 15.61 EPS for the current year.

Insider Buying and Selling

In other Chevron news, Director John B. Hess sold 380,000 shares of Chevron stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $193.20, for a total transaction of $73,416,000.00. Following the sale, the director directly owned 278,045 shares of the company’s stock, valued at approximately $53,718,294. The trade was a 57.75% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.56% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Citigroup increased their target price on shares of Chevron from $210.00 to $235.00 and gave the stock a “buy” rating in a report on Thursday, April 2nd. Piper Sandler initiated coverage on Chevron in a report on Thursday, July 23rd. They set an “overweight” rating and a $207.00 price target on the stock. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $220.00 price target on shares of Chevron in a research report on Tuesday, May 5th. Morgan Stanley dropped their price objective on Chevron from $214.00 to $210.00 and set an “overweight” rating for the company in a report on Monday, June 29th. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $216.00 price objective on shares of Chevron in a research report on Friday, July 10th. Nineteen investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Chevron currently has an average rating of “Moderate Buy” and a consensus price target of $206.04.

Key Headlines Impacting Chevron

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?

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.