Bradley Foster & Sargent Inc. CT Grows Position in Chevron Corporation $CVX

Bradley Foster & Sargent Inc. CT raised its holdings in shares of Chevron Corporation (NYSE:CVX) by 3.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 310,303 shares of the oil and gas company’s stock after buying an additional 9,087 shares during the quarter. Chevron comprises about 1.0% of Bradley Foster & Sargent Inc. CT’s portfolio, making the stock its 28th biggest holding. Bradley Foster & Sargent Inc. CT’s holdings in Chevron were worth $64,202,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. State Street Corp grew its stake in Chevron by 9.1% during the 3rd quarter. State Street Corp now owns 152,605,988 shares of the oil and gas company’s stock valued at $23,698,184,000 after acquiring an additional 12,789,399 shares in the last quarter. Berkshire Hathaway Inc raised its holdings in Chevron by 6.6% in the 4th quarter. Berkshire Hathaway Inc now owns 130,156,362 shares of the oil and gas company’s stock valued at $19,837,131,000 after acquiring an additional 8,091,570 shares during the last quarter. Geode Capital Management LLC lifted its stake in Chevron by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 43,613,011 shares of the oil and gas company’s stock worth $6,620,187,000 after purchasing an additional 134,890 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Chevron by 2.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 36,036,844 shares of the oil and gas company’s stock worth $5,492,377,000 after purchasing an additional 961,341 shares in the last quarter. Finally, Norges Bank purchased a new position in Chevron in the 4th quarter worth approximately $3,727,586,000. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

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

Trending Headlines about Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron was highlighted as one of the biggest beneficiaries of the recent oil rally, with Brent briefly topping $100 a barrel and integrated oil majors gaining as investors price in tighter global supply. BATL, CVX, XOM Stocks Rise As Brent Crude Tops $100 – Trump Threatens Iran With ‘Major Military Punishment’ After Houthi Attack On Saudi Ships
• Positive Sentiment: Chevron was also singled out as the only “outperform”-rated global oil major in Piper Sandler’s new coverage, reinforcing a relatively favorable analyst view versus peers. Chevron only outperform-rated name among global oil majors initiated at Piper Sandler
• Neutral Sentiment: Recent commentary says Chevron is rallying despite a classic bearish signal, suggesting momentum traders are still buying the stock even after the move in oil. Chevron ignored a classic bearish call: Here’s why stock is rallying
• Neutral Sentiment: Several previews ahead of next week’s earnings note that Chevron is expected to report higher earnings, but one Zacks piece warns the company may not have the ideal setup for a clear beat. Chevron (CVX) Earnings Expected to Grow: What to Know Ahead of Next Week’s Release
• Negative Sentiment: Some analysis cautions that Chevron’s rally could face headwinds if Chinese crude demand weakens, which could limit upside even if oil prices remain elevated. Chevron’s Biggest Stock Rally Since 2022 Faces a China-Sized Problem

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Scotiabank upped their price target on Chevron from $168.00 to $187.00 and gave the company a “sector perform” rating in a research report on Wednesday, April 22nd. Tudor Pickering upgraded Chevron from a “hold” rating to a “buy” rating and set a $225.00 price objective on the stock in a research report on Thursday, April 9th. Piper Sandler began coverage on Chevron in a research report on Thursday. They set an “overweight” rating and a $207.00 price objective on the stock. Jefferies Financial Group reissued a “buy” rating and set a $216.00 price objective on shares of Chevron in a research note on Friday, July 10th. Finally, Wolfe Research upgraded Chevron from a “peer perform” rating to an “outperform” rating and set a $210.00 target price for the company in a report on Thursday, July 2nd. Nineteen equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Chevron has a consensus rating of “Moderate Buy” and a consensus target price of $205.17.

Chevron Price Performance

Shares of CVX stock opened at $194.72 on Friday. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.09 and a quick ratio of 0.84. The company has a market capitalization of $387.80 billion, a PE ratio of 33.75, a price-to-earnings-growth ratio of 0.69 and a beta of 0.50. The firm’s 50-day moving average is $182.12 and its two-hundred day moving average is $183.83. Chevron Corporation has a 12 month low of $146.49 and a 12 month high of $214.71.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, May 1st. The oil and gas company reported $1.41 earnings per share 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 business had revenue of $47.56 billion during the quarter, compared to analysts’ expectations of $51.86 billion. During the same quarter in the prior year, the company posted $2.18 EPS. The business’s revenue for the quarter was up 2.1% on a year-over-year basis. Analysts predict that Chevron Corporation will post 15.6 earnings per share for the current year.

Chevron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Tuesday, May 19th were issued a $1.78 dividend. The ex-dividend date was Tuesday, May 19th. This represents a $7.12 dividend on an annualized basis and a yield of 3.7%. Chevron’s dividend payout ratio is currently 123.40%.

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.