Whalerock Point Partners LLC Has $3.49 Million Stake in Chevron Co. (NYSE:CVX)

Whalerock Point Partners LLC lifted its position in shares of Chevron Co. (NYSE:CVX) by 1.6% during the 1st quarter, HoldingsChannel reports. The fund owned 22,146 shares of the oil and gas company’s stock after purchasing an additional 348 shares during the period. Whalerock Point Partners LLC’s holdings in Chevron were worth $3,493,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. American Capital Advisory LLC lifted its holdings in Chevron by 403.2% during the 1st quarter. American Capital Advisory LLC now owns 156 shares of the oil and gas company’s stock worth $25,000 after buying an additional 125 shares during the period. Bare Financial Services Inc acquired a new position in Chevron during the 4th quarter worth about $27,000. Frank Rimerman Advisors LLC acquired a new position in Chevron during the 4th quarter worth about $30,000. Cooksen Wealth LLC acquired a new position in Chevron during the 4th quarter worth about $40,000. Finally, Clear Investment Research LLC lifted its holdings in Chevron by 264.9% during the 4th quarter. Clear Investment Research LLC now owns 281 shares of the oil and gas company’s stock worth $42,000 after buying an additional 204 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Stock Up 1.9 %

Shares of Chevron stock traded up $2.97 on Tuesday, hitting $159.57. The company had a trading volume of 5,740,372 shares, compared to its average volume of 7,773,868. The stock has a market capitalization of $294.08 billion, a price-to-earnings ratio of 14.68, a P/E/G ratio of 2.54 and a beta of 1.10. Chevron Co. has a 1 year low of $139.62 and a 1 year high of $171.70. The stock has a 50 day moving average of $156.58 and a 200-day moving average of $155.90. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.93 and a current ratio of 1.23.

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

Insider Transactions at Chevron

In other news, Director Enrique Hernandez, Jr. sold 2,549 shares of the stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $161.00, for a total value of $410,389.00. Following the completion of the sale, the director now directly owns 7,647 shares of the company’s stock, valued at $1,231,167. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Director Enrique Hernandez, Jr. sold 2,549 shares of the stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $161.00, for a total value of $410,389.00. Following the sale, the director now owns 7,647 shares in the company, valued at $1,231,167. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Enrique Hernandez, Jr. sold 5,098 shares of the firm’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $163.50, for a total value of $833,523.00. Following the sale, the director now owns 2,549 shares in the company, valued at approximately $416,761.50. The disclosure for this sale can be found here. Insiders sold a total of 13,946 shares of company stock valued at $2,265,971 over the last ninety days. 0.20% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Barclays assumed coverage on Chevron in a report on Wednesday, April 10th. They set an “overweight” rating and a $203.00 target price on the stock. Scotiabank cut their target price on Chevron from $195.00 to $180.00 and set a “sector outperform” rating on the stock in a research report on Friday, July 12th. Truist Financial cut their target price on Chevron from $166.00 to $156.00 and set a “hold” rating on the stock in a research report on Monday, July 22nd. Piper Sandler upped their target price on Chevron from $180.00 to $204.00 and gave the company an “overweight” rating in a research report on Thursday, April 18th. Finally, Wolfe Research began coverage on Chevron in a research report on Thursday, July 18th. They set a “peer perform” rating on the stock. Seven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $185.67.

Chevron Profile

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.