Royal Fund Management LLC Buys 2,782 Shares of Chevron Corporation $CVX

Royal Fund Management LLC increased its stake in Chevron Corporation (NYSE:CVX) by 12.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 25,345 shares of the oil and gas company’s stock after buying an additional 2,782 shares during the period. Royal Fund Management LLC’s holdings in Chevron were worth $5,244,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Chevron during the fourth quarter worth approximately $3,727,586,000. State Street Corp grew its stake in Chevron by 9.1% in the third quarter. State Street Corp now owns 152,605,988 shares of the oil and gas company’s stock worth $23,698,184,000 after purchasing an additional 12,789,399 shares in the last quarter. Berkshire Hathaway Inc grew its stake in Chevron by 6.6% in the fourth quarter. Berkshire Hathaway Inc now owns 130,156,362 shares of the oil and gas company’s stock worth $19,837,131,000 after purchasing an additional 8,091,570 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in Chevron by 822.0% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 6,211,258 shares of the oil and gas company’s stock worth $946,658,000 after purchasing an additional 5,537,580 shares during the period. Finally, Aristotle Capital Management LLC raised its position in Chevron by 653.0% during the 1st quarter. Aristotle Capital Management LLC now owns 4,526,223 shares of the oil and gas company’s stock valued at $936,492,000 after purchasing an additional 3,925,137 shares in the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on CVX shares. Jefferies Financial Group reissued a “buy” rating and set a $216.00 price target on shares of Chevron in a research report on Friday, July 10th. Piper Sandler began coverage on shares of Chevron in a report on Thursday, July 23rd. They set an “overweight” rating and a $207.00 target price on the stock. Bank of America boosted their price target on shares of Chevron from $210.00 to $227.00 and gave the company a “buy” rating in a report on Tuesday. The Goldman Sachs Group reissued a “buy” rating and set a $216.00 price objective on shares of Chevron in a report on Wednesday, May 6th. Finally, BNP Paribas Exane upgraded Chevron from a “neutral” rating to an “outperform” rating and set a $174.00 target price for the company in a report on Friday, April 17th. Nineteen research 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $206.04.

Chevron Price Performance

Shares of NYSE CVX opened at $191.91 on Thursday. Chevron Corporation has a fifty-two week low of $146.49 and a fifty-two week high of $214.71. The company has a market cap of $382.21 billion, a PE ratio of 33.26, a P/E/G ratio of 0.62 and a beta of 0.50. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.84 and a current ratio of 1.09. The business has a 50-day simple moving average of $181.81 and a two-hundred day simple moving average of $184.66.

Chevron (NYSE:CVX) last posted its quarterly earnings data 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. The firm had revenue of $47.56 billion for the quarter, compared to the consensus estimate of $51.86 billion. Chevron had a net margin of 5.79% and a return on equity of 6.90%. The company’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.18 earnings per share. As a group, equities analysts expect that Chevron Corporation will post 15.61 EPS for the current fiscal year.

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?

Insiders Place Their Bets

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

About Chevron

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.