Price T Rowe Associates Inc. MD Has $1.47 Billion Position in Chevron Co. (NYSE:CVX)

Price T Rowe Associates Inc. MD cut its stake in shares of Chevron Co. (NYSE:CVX) by 27.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,342,484 shares of the oil and gas company’s stock after selling 3,533,686 shares during the quarter. Price T Rowe Associates Inc. MD owned approximately 0.51% of Chevron worth $1,473,685,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CVX. BOKF NA raised its position in shares of Chevron by 11.7% in the 1st quarter. BOKF NA now owns 210,052 shares of the oil and gas company’s stock worth $33,415,000 after acquiring an additional 21,926 shares in the last quarter. Kestra Advisory Services LLC raised its position in shares of Chevron by 15.7% in the 1st quarter. Kestra Advisory Services LLC now owns 317,069 shares of the oil and gas company’s stock worth $50,014,000 after acquiring an additional 43,062 shares in the last quarter. Steel Grove Capital Advisors LLC raised its position in shares of Chevron by 28.9% in the 1st quarter. Steel Grove Capital Advisors LLC now owns 18,124 shares of the oil and gas company’s stock worth $2,859,000 after acquiring an additional 4,062 shares in the last quarter. LRI Investments LLC bought a new position in shares of Chevron in the 1st quarter worth about $1,987,000. Finally, 1832 Asset Management L.P. raised its position in shares of Chevron by 27.2% in the 1st quarter. 1832 Asset Management L.P. now owns 71,948 shares of the oil and gas company’s stock worth $11,349,000 after acquiring an additional 15,383 shares in the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Chevron

In related news, VP Jeff B. Gustavson sold 3,750 shares of the firm’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $160.23, for a total transaction of $600,862.50. Following the completion of the sale, the vice president now owns 477 shares in the company, valued at $76,429.71. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, 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 transaction of $833,523.00. Following the completion of the sale, the director now owns 2,549 shares in the company, valued at $416,761.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Jeff B. Gustavson sold 3,750 shares of the firm’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $160.23, for a total transaction of $600,862.50. Following the sale, the vice president now owns 477 shares of the company’s stock, valued at approximately $76,429.71. The disclosure for this sale can be found here. Insiders have sold 13,946 shares of company stock valued at $2,265,971 over the last ninety days. Corporate insiders own 0.20% of the company’s stock.

Chevron Stock Up 0.2 %

Shares of CVX traded up $0.30 during trading hours on Friday, reaching $157.84. 5,232,519 shares of the stock traded hands, compared to its average volume of 6,005,936. The company has a current ratio of 1.23, a quick ratio of 0.93 and a debt-to-equity ratio of 0.13. The stock has a fifty day simple moving average of $156.68 and a 200 day simple moving average of $155.65. Chevron Co. has a 52 week low of $139.62 and a 52 week high of $171.70. The company has a market cap of $290.89 billion, a price-to-earnings ratio of 14.52, a PEG ratio of 2.54 and a beta of 1.10.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, April 26th. The oil and gas company reported $2.93 earnings per share for the quarter, beating analysts’ consensus estimates of $2.84 by $0.09. Chevron had a net margin of 10.21% and a return on equity of 14.40%. The company had revenue of $48.72 billion for the quarter, compared to analyst estimates of $48.42 billion. During the same period last year, the firm earned $3.55 earnings per share. The firm’s revenue was down 4.1% on a year-over-year basis. On average, equities analysts forecast that Chevron Co. will post 12.45 EPS for the current year.

Analyst Ratings Changes

Several research analysts have recently weighed in on CVX shares. Barclays started coverage on Chevron in a research report on Wednesday, April 10th. They issued an “overweight” rating and a $203.00 price objective for the company. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Chevron in a research report on Monday, April 1st. HSBC boosted their target price on Chevron from $175.00 to $178.00 and gave the company a “buy” rating in a research report on Tuesday, April 30th. Scotiabank decreased their target price on Chevron from $195.00 to $180.00 and set a “sector outperform” rating for the company in a research report on Friday, July 12th. Finally, Piper Sandler boosted 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. Seven equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $185.67.

Chevron Company 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.