Bradley Foster & Sargent Inc. CT Raises Stake in Chevron Corporation $CVX

Key Points

• Bradley Foster & Sargent Inc. CT increased its Chevron stake by 3.0% in the first quarter, bringing its holdings to 310,303 shares worth about $64.2 million.
• Chevron continues to attract institutional interest, with several other funds adding positions and 72.42% of the stock now owned by hedge funds and other institutions.
• Analysts remain generally positive on Chevron: recent ratings included multiple Buy or Outperform calls, and the consensus rating is Moderate Buy with a target price of $205.17.

Bradley Foster & Sargent Inc. CT increased its holdings in Chevron Corporation (NYSE:CVX - Free Report) by 3.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 310,303 shares of the oil and gas company's stock after buying an additional 9,087 shares during the quarter. Chevron comprises approximately 1.0% of Bradley Foster & Sargent Inc. CT's investment portfolio, making the stock its 28th largest holding. Bradley Foster & Sargent Inc. CT's holdings in Chevron were worth $64,202,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the business. Dakota Wealth Management grew its stake in shares of Chevron by 14.9% during the 4th quarter. Dakota Wealth Management now owns 83,265 shares of the oil and gas company's stock worth $12,690,000 after purchasing an additional 10,822 shares during the period. Curtis Advisory Group LLC acquired a new position in shares of Chevron in the 4th quarter valued at $1,381,000. Indivisible Partners acquired a new position in shares of Chevron in the 4th quarter valued at $1,923,000. Cypress Wealth Services LLC boosted its holdings in Chevron by 64.0% during the fourth quarter. Cypress Wealth Services LLC now owns 16,591 shares of the oil and gas company's stock worth $2,529,000 after buying an additional 6,475 shares in the last quarter. Finally, Janney Montgomery Scott LLC boosted its holdings in Chevron by 6.8% during the first quarter. Janney Montgomery Scott LLC now owns 1,251,102 shares of the oil and gas company's stock worth $258,853,000 after buying an additional 79,439 shares in the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

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

Insider Buying and Selling at Chevron

In related news, Director John B. Hess sold 380,000 shares of the firm's stock in a transaction dated Wednesday, May 20th. The shares were 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 of the company's stock, valued at approximately $53,718,294. This trade represents a 57.75% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.56% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts recently commented on the stock. The Goldman Sachs Group restated a "buy" rating and set a $216.00 price target on shares of Chevron in a research report on Wednesday, May 6th. UBS Group reissued a "buy" rating on shares of Chevron in a research note on Tuesday, June 23rd. Barclays raised their target price on Chevron from $192.00 to $213.00 and gave the company an "equal weight" rating in a research report on Tuesday, May 26th. Wolfe Research upgraded Chevron from a "peer perform" rating to an "outperform" rating and set a $210.00 price target for the company in a research note on Thursday, July 2nd. Finally, Royal Bank Of Canada restated an "outperform" rating and issued a $220.00 price target on shares of Chevron in a research note on Tuesday, May 5th. Nineteen research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, Chevron has a consensus rating of "Moderate Buy" and a consensus target price of $205.17.

Chevron Price Performance

Shares of NYSE CVX opened at $194.72 on Friday. The firm has a market cap of $387.80 billion, a PE ratio of 33.75, a PEG ratio of 0.69 and a beta of 0.50. The firm has a fifty day moving average of $182.12 and a 200 day moving average of $183.83. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.84 and a current ratio of 1.09. Chevron Corporation has a one year low of $146.49 and a one year high of $214.71.

Chevron (NYSE:CVX - Get Free Report) last posted its quarterly earnings data on Friday, May 1st. The oil and gas company reported $1.41 earnings per share for the quarter, topping analysts' consensus estimates of $1.00 by $0.41. The company had revenue of $47.56 billion during the quarter, compared to analysts' expectations of $51.86 billion. Chevron had a net margin of 5.79% and a return on equity of 6.90%. The firm's revenue for the quarter was up 2.1% on a year-over-year basis. During the same period in the prior year, the business posted $2.18 earnings per share. As a group, research analysts predict that Chevron Corporation will post 15.6 EPS for the current fiscal year.

Chevron Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Tuesday, May 19th were given a dividend of $1.78 per share. This represents a $7.12 annualized dividend and a dividend yield of 3.7%. The ex-dividend date was Tuesday, May 19th. Chevron's dividend payout ratio is 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.

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