Chevron Corporation $CVX Shares Purchased by Kentucky Retirement Systems

Kentucky Retirement Systems increased its holdings in shares of Chevron Corporation (NYSE:CVX) by 31.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 158,780 shares of the oil and gas company’s stock after buying an additional 38,186 shares during the quarter. Chevron comprises approximately 1.1% of Kentucky Retirement Systems’ portfolio, making the stock its 14th biggest holding. Kentucky Retirement Systems’ holdings in Chevron were worth $32,852,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CVX. Centaurus Financial Inc. grew its holdings in Chevron by 1.0% in the first quarter. Centaurus Financial Inc. now owns 12,634 shares of the oil and gas company’s stock valued at $2,614,000 after purchasing an additional 129 shares during the period. Bull Harbor Capital LLC acquired a new position in shares of Chevron in the 1st quarter valued at $437,000. Strategic Investment Advisors MI boosted its holdings in shares of Chevron by 380.6% in the 1st quarter. Strategic Investment Advisors MI now owns 10,611 shares of the oil and gas company’s stock valued at $2,195,000 after purchasing an additional 8,403 shares during the last quarter. Ashton Thomas Securities LLC grew its stake in shares of Chevron by 22.0% during the 1st quarter. Ashton Thomas Securities LLC now owns 6,971 shares of the oil and gas company’s stock valued at $1,443,000 after buying an additional 1,257 shares during the period. Finally, Arkadios Wealth Advisors increased its holdings in shares of Chevron by 4.2% during the 1st quarter. Arkadios Wealth Advisors now owns 155,177 shares of the oil and gas company’s stock worth $32,106,000 after buying an additional 6,254 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on CVX. Morgan Stanley cut their target price on Chevron from $214.00 to $210.00 and set an “overweight” rating on the stock in a research report on Monday, June 29th. Citigroup raised their price objective on Chevron from $210.00 to $235.00 and gave the stock a “buy” rating in a report on Thursday, April 2nd. Wolfe Research raised Chevron from a “peer perform” rating to an “outperform” rating and set a $210.00 price objective on the stock in a research note on Thursday, July 2nd. Weiss Ratings cut Chevron from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, June 2nd. Finally, Tudor Pickering raised shares of Chevron from a “hold” rating to a “buy” rating and set a $225.00 target price for the company in a research report on Thursday, April 9th. Nineteen analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Chevron presently has an average rating of “Moderate Buy” and a consensus price target of $206.04.

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?

Chevron Trading Up 2.3%

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

Chevron (NYSE:CVX) last posted its earnings results on Friday, May 1st. The oil and gas company reported $1.41 earnings per share (EPS) for the quarter, beating 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 revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter last year, the firm earned $2.18 earnings per share. Research analysts predict that Chevron Corporation will post 15.61 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Chevron news, Director John B. Hess sold 380,000 shares of the stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $193.20, for a total value of $73,416,000.00. Following the completion of the sale, the director owned 278,045 shares of the company’s stock, valued at $53,718,294. This trade represents a 57.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.56% of the stock is currently owned by corporate insiders.

Chevron 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.