Rathbones Group PLC Lowers Position in Chevron Corporation $CVX

Rathbones Group PLC decreased its stake in shares of Chevron Corporation (NYSE:CVX) by 6.6% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 697,392 shares of the oil and gas company’s stock after selling 49,542 shares during the period. Rathbones Group PLC’s holdings in Chevron were worth $144,290,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of CVX. Farmers National Bank boosted its holdings in Chevron by 9.0% in the first quarter. Farmers National Bank now owns 52,412 shares of the oil and gas company’s stock valued at $10,844,000 after acquiring an additional 4,347 shares during the last quarter. Wealthquest Corp increased its stake in Chevron by 1.2% during the first quarter. Wealthquest Corp now owns 5,886 shares of the oil and gas company’s stock worth $1,218,000 after acquiring an additional 68 shares during the last quarter. Parallel Advisors LLC raised its holdings in shares of Chevron by 0.3% in the 1st quarter. Parallel Advisors LLC now owns 112,048 shares of the oil and gas company’s stock worth $23,183,000 after purchasing an additional 384 shares during the period. Blue Edge Capital LLC raised its holdings in shares of Chevron by 4.0% in the 1st quarter. Blue Edge Capital LLC now owns 3,423 shares of the oil and gas company’s stock worth $708,000 after purchasing an additional 132 shares during the period. Finally, First Nebraska Trust Co acquired a new position in shares of Chevron in the 1st quarter valued at about $19,978,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Price Performance

CVX opened at $197.10 on Monday. The company has a fifty day simple moving average of $181.95 and a 200 day simple moving average of $185.12. The firm has a market cap of $392.55 billion, a price-to-earnings ratio of 18.90, a PEG ratio of 0.61 and a beta of 0.49. Chevron Corporation has a twelve month low of $146.49 and a twelve month high of $214.71. The company has a current ratio of 1.09, a quick ratio of 0.84 and a debt-to-equity ratio of 0.21.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, July 31st. The oil and gas company reported $6.06 EPS for the quarter, topping the consensus estimate of $5.55 by $0.51. Chevron had a return on equity of 11.14% and a net margin of 9.57%.The business had revenue of $67.20 billion for the quarter, compared to analysts’ expectations of $62.72 billion. During the same quarter in the previous year, the firm posted $1.77 earnings per share. The company’s revenue was up 57.4% compared to the same quarter last year. Equities research analysts expect that Chevron Corporation will post 15.64 EPS for the current fiscal year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Wednesday, August 19th will be paid a dividend of $1.78 per share. The ex-dividend date is Wednesday, August 19th. This represents a $7.12 annualized dividend and a yield of 3.6%. Chevron’s dividend payout ratio is presently 123.40%.

Insider Buying and Selling at Chevron

In related news, Director John B. Hess sold 380,000 shares of the stock in a transaction dated 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 sale, the director owned 278,045 shares in the company, valued at $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 Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.56% of the company’s stock.

Wall Street Analysts Forecast Growth

CVX has been the subject of a number of research analyst reports. Wolfe Research raised shares of Chevron from a “peer perform” rating to an “outperform” rating and set a $210.00 target price for the company in a research report on Thursday, July 2nd. Morgan Stanley reduced their price target on shares of Chevron from $214.00 to $210.00 and set an “overweight” rating on the stock in a research report on Monday, June 29th. TD Cowen boosted their price objective on shares of Chevron from $197.00 to $200.00 and gave the stock a “hold” rating in a research note on Wednesday, July 22nd. Royal Bank Of Canada reissued an “outperform” rating and issued a $220.00 price objective on shares of Chevron in a research report on Tuesday, May 5th. Finally, The Goldman Sachs Group reissued a “buy” rating and issued a $216.00 target price on shares of Chevron in a research note on Wednesday, May 6th. Eighteen investment 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. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $207.17.

More Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Strong earnings beat: Chevron reported adjusted earnings of $12.0 billion, or $6.06 per diluted share, versus analysts’ expectation of $5.55. Reported earnings reached $12.1 billion, the company’s highest quarterly profit in at least six years, while revenue rose 57.4% year over year to $67.2 billion. Chevron records highest quarterly profit in six years, tops estimates
• Positive Sentiment: Higher production and refining performance: Global oil-equivalent production increased 20% to 4.07 million barrels per day, supported by Hess-related assets, the Permian Basin and the Gulf of America. Record U.S. production, strong refining margins and near-full-capacity operations boosted results. CVX Q2 Earnings Beat on Higher Output and Strong Refining Margins
• Positive Sentiment: Excellent cash generation and growth opportunities: Operating cash flow was $22.6 billion, and Chevron maintained its $1.78 quarterly dividend. Management also highlighted expansion plans involving Iraq, Venezuela, Argentina and a 20-year power agreement to supply a Microsoft data center. Chevron CFO on second-quarter earnings, growth plan and Iraq accord
• Neutral Sentiment: Energy-sector tailwind: Rising crude, gasoline and diesel prices, driven by Middle East supply disruptions, lifted Chevron and other integrated oil companies and supported broader energy ETFs. Supermajor Earnings: Exxon and Chevron’s Impact on ETF Market
• Negative Sentiment: Geopolitical and valuation risks remain: Chevron said the conflict reduced output in the Saudi Arabia–Kuwait Partitioned Zone. Executives also warned of escalating supply risks, while potential gasoline-price interventions or windfall taxes could pressure future profits. Analysts noted that some of the earnings improvement may already be reflected in the stock price. Chevron’s Strong Quarter Shows Why It Still Leads the Energy Sector

Chevron Company 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.