Capital International Sarl Has $5.05 Million Position in Chevron Co. (NYSE:CVX)

Capital International Sarl lowered its holdings in Chevron Co. (NYSE:CVX) by 14.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 32,032 shares of the oil and gas company’s stock after selling 5,264 shares during the quarter. Capital International Sarl’s holdings in Chevron were worth $5,053,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of CVX. Norges Bank acquired a new stake in Chevron in the 4th quarter valued at $2,902,007,000. Berkshire Hathaway Inc boosted its holdings in Chevron by 14.4% during the 4th quarter. Berkshire Hathaway Inc now owns 126,093,326 shares of the oil and gas company’s stock worth $18,808,081,000 after acquiring an additional 15,845,037 shares during the last quarter. Capital World Investors boosted its holdings in Chevron by 43.5% during the 4th quarter. Capital World Investors now owns 15,513,887 shares of the oil and gas company’s stock worth $2,314,070,000 after acquiring an additional 4,700,289 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in Chevron by 73,888.2% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 4,602,805 shares of the oil and gas company’s stock worth $686,554,000 after acquiring an additional 4,596,584 shares during the last quarter. Finally, International Assets Investment Management LLC boosted its holdings in Chevron by 15,548.2% during the 4th quarter. International Assets Investment Management LLC now owns 3,202,411 shares of the oil and gas company’s stock worth $4,776,720,000 after acquiring an additional 3,181,946 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Analyst Ratings Changes

CVX has been the topic of a number of analyst reports. Wells Fargo & Company lifted their price objective on shares of Chevron from $198.00 to $206.00 and gave the stock an “overweight” rating in a report on Tuesday, April 30th. Piper Sandler lifted their price objective on shares of Chevron from $180.00 to $204.00 and gave the stock an “overweight” rating in a report on Thursday, April 18th. Mizuho boosted their price target on shares of Chevron from $200.00 to $205.00 and gave the stock a “buy” rating in a report on Monday, May 13th. Wolfe Research began coverage on shares of Chevron in a report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Finally, TD Cowen boosted their price target on shares of Chevron from $155.00 to $160.00 and gave the stock a “hold” rating in a report on Monday, April 29th. Seven equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Chevron presently has an average rating of “Moderate Buy” and an average price target of $185.67.

Chevron Price Performance

Shares of CVX traded up $0.35 during midday trading on Friday, hitting $157.89. 5,232,189 shares of the company traded hands, compared to its average volume of 7,806,996. The stock has a 50-day moving average of $156.68 and a 200-day moving average of $155.58. Chevron Co. has a one year low of $139.62 and a one year high of $171.70. The firm has a market cap of $290.99 billion, a P/E ratio of 14.53, a PEG ratio of 2.49 and a beta of 1.10. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.23 and a quick ratio of 0.93.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, April 26th. The oil and gas company reported $2.93 earnings per share for the quarter, beating the consensus estimate of $2.84 by $0.09. Chevron had a return on equity of 14.40% and a net margin of 10.21%. The firm had revenue of $48.72 billion for the quarter, compared to analysts’ expectations of $48.42 billion. During the same period in the prior year, the business posted $3.55 earnings per share. The company’s revenue was down 4.1% on a year-over-year basis. As a group, sell-side analysts predict that Chevron Co. will post 12.45 EPS for the current fiscal year.

Insider Activity

In other news, Director Enrique Hernandez, Jr. sold 5,098 shares of the business’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $163.50, for a total transaction of $833,523.00. Following the completion of the transaction, the director now owns 2,549 shares of the company’s stock, valued at $416,761.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Enrique Hernandez, Jr. sold 2,549 shares of the business’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $165.24, for a total transaction of $421,196.76. Following the completion of the transaction, the director now owns 27,725 shares of the company’s stock, valued at $4,581,279. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Enrique Hernandez, Jr. sold 5,098 shares of the business’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $163.50, for a total value of $833,523.00. Following the transaction, the director now directly owns 2,549 shares of the company’s stock, valued at approximately $416,761.50. The disclosure for this sale can be found here. Insiders have sold a total of 13,946 shares of company stock worth $2,265,971 over the last ninety days. Company insiders own 0.20% of the company’s stock.

About Chevron

Chevron Corporation, through its subsidiaries, engages in the integrated energy and chemicals operations in the United States and internationally. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, production, and transportation of crude oil and natural gas; processing, liquefaction, transportation, and regasification of liquefied natural gas; transportation of crude oil through pipelines; transportation, storage, and marketing of natural gas; and carbon capture and storage, as well as a gas-to-liquids plant.