Rathbones Group PLC Increases Position in Chevron Corporation $CVX

Key Points

• Rathbones Group PLC increased its Chevron stake by 0.9% in the fourth quarter, ending with 746,934 shares valued at about $113.8 million.
• Several other institutional investors also bought Chevron shares, and 72.42% of the stock is owned by hedge funds and other institutions, showing continued Wall Street interest in the company.
• Chevron reported better-than-expected quarterly EPS of $1.41, and analysts remain constructive overall with a consensus rating of Moderate Buy and an average price target of $204.13.

Rathbones Group PLC increased its stake in Chevron Corporation (NYSE:CVX - Free Report) by 0.9% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 746,934 shares of the oil and gas company's stock after acquiring an additional 6,558 shares during the period. Rathbones Group PLC's holdings in Chevron were worth $113,840,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Strategic Wealth Advisors LLC purchased a new position in Chevron in the fourth quarter worth $33,000. Daytona Street Capital LLC purchased a new position in Chevron in the fourth quarter worth $44,000. Maseco LLP bought a new stake in Chevron in the fourth quarter worth $49,000. Turning Point Benefit Group Inc. bought a new stake in Chevron in the third quarter worth $49,000. Finally, High Point Wealth Management LLC bought a new stake in Chevron in the fourth quarter worth $53,000. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Andrew Benjamin Walz sold 11,600 shares of the stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $188.58, for a total value of $2,187,528.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Vice Chairman Mark A. Nelson sold 139,600 shares of the stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $187.92, for a total transaction of $26,233,632.00. Following the completion of the transaction, the insider directly owned 11,337 shares of the company's stock, valued at approximately $2,130,449.04. The trade was a 92.49% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 799,699 shares of company stock valued at $151,259,517. 0.56% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Citigroup boosted their price target on shares of Chevron from $210.00 to $235.00 and gave the stock a "buy" rating in a research note on Thursday, April 2nd. Bank of America boosted their price target on shares of Chevron from $188.00 to $206.00 and gave the stock a "buy" rating in a research note on Monday, March 2nd. Sanford C. Bernstein lowered their price target on shares of Chevron from $216.00 to $204.00 and set a "market perform" rating for the company in a research note on Monday, May 11th. Weiss Ratings reissued a "hold (c)" rating on shares of Chevron in a research note on Wednesday, January 21st. Finally, The Goldman Sachs Group reissued a "buy" rating and issued a $216.00 price target on shares of Chevron in a research note on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $204.13.

Key Stories Impacting Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Oil prices remain elevated, and Zacks said WTI above $100 keeps Chevron and other Permian-focused energy names in the spotlight, supporting cash flow and investor interest. Article Title
• Positive Sentiment: Barrons argued Chevron can keep rising as oil prices increase, reinforcing the view that the company still has upside despite recent gains. Article Title
• Positive Sentiment: Bernstein analyst Bob Brackett said energy stocks like Chevron may be undervalued relative to Treasuries, framing CVX as an attractive income and total-return play. Article Title
• Positive Sentiment: Several recent pieces highlighted Chevron as a long-term, blue-chip energy holding, and Zacks noted rising earnings estimates for CVX, which can support the stock. Article Title
• Neutral Sentiment: Comparisons with Shell and ExxonMobil mainly keep Chevron in the investment conversation without adding a clear new catalyst. Article Title
• Negative Sentiment: The biggest overhang is Berkshire Hathaway’s latest stake reduction in Chevron, which can weigh on sentiment even though Berkshire still holds a meaningful position. Article Title

Chevron Stock Performance

Shares of NYSE:CVX opened at $191.39 on Thursday. The company has a market cap of $381.18 billion, a price-to-earnings ratio of 33.17, a price-to-earnings-growth ratio of 0.66 and a beta of 0.51. The company has a 50-day moving average price of $193.45 and a 200-day moving average price of $174.25. 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 Corporation has a 12 month low of $133.77 and a 12 month high of $214.71.

Chevron (NYSE:CVX - Get Free Report) last issued its quarterly earnings data on Friday, May 1st. The oil and gas company reported $1.41 EPS for the quarter, beating the consensus estimate of $1.00 by $0.41. The firm had revenue of $47.56 billion during 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 quarterly revenue was up 2.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.18 earnings per share. As a group, equities analysts anticipate that Chevron Corporation will post 15.43 EPS for the current year.

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Tuesday, May 19th will be paid 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 of this dividend is 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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