Lavaca Capital LLC Acquires New Stake in Chevron Co. (NYSE:CVX)

Lavaca Capital LLC bought a new position in shares of Chevron Co. (NYSE:CVX) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund bought 1,305 shares of the oil and gas company’s stock, valued at approximately $206,000.

Other large investors have also modified their holdings of the company. Berkshire Hathaway Inc lifted its position in Chevron by 14.4% during the fourth quarter. Berkshire Hathaway Inc now owns 126,093,326 shares of the oil and gas company’s stock worth $18,808,081,000 after buying an additional 15,845,037 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Chevron by 8.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 26,235,473 shares of the oil and gas company’s stock valued at $3,886,821,000 after purchasing an additional 1,999,332 shares during the period. Norges Bank acquired a new stake in Chevron during the fourth quarter worth about $2,902,007,000. Bank of New York Mellon Corp boosted its holdings in Chevron by 4.2% in the 1st quarter. Bank of New York Mellon Corp now owns 16,103,302 shares of the oil and gas company’s stock valued at $2,540,135,000 after purchasing an additional 654,482 shares during the last quarter. Finally, Capital World Investors grew its stake in shares of Chevron by 3.2% in the 1st quarter. Capital World Investors now owns 16,009,766 shares of the oil and gas company’s stock valued at $2,525,380,000 after buying an additional 495,879 shares during the period. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Price Performance

Shares of Chevron stock traded down $1.22 on Monday, hitting $156.62. The company had a trading volume of 5,071,211 shares, compared to its average volume of 7,787,999. Chevron Co. has a 52 week low of $139.62 and a 52 week high of $171.70. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.23 and a quick ratio of 0.93. The business has a 50-day simple moving average of $156.59 and a 200-day simple moving average of $155.81. The company has a market cap of $288.65 billion, a PE ratio of 14.41, a PEG ratio of 2.54 and a beta of 1.10.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, April 26th. The oil and gas company reported $2.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.84 by $0.09. The firm had revenue of $48.72 billion for the quarter, compared to the consensus estimate of $48.42 billion. Chevron had a return on equity of 14.40% and a net margin of 10.21%. The business’s revenue for the quarter was down 4.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.55 EPS. Research analysts expect that Chevron Co. will post 12.45 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on CVX. Piper Sandler raised their price objective on Chevron from $180.00 to $204.00 and gave the stock an “overweight” rating in a research report on Thursday, April 18th. Wolfe Research started coverage on shares of Chevron in a research report on Thursday, July 18th. They issued a “peer perform” rating for the company. Sanford C. Bernstein cut shares of Chevron from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $183.00 to $167.00 in a report on Wednesday, July 17th. Truist Financial lowered their target price on Chevron from $166.00 to $156.00 and set a “hold” rating on the stock in a research note on Monday, July 22nd. Finally, Mizuho lifted their target price on shares of Chevron from $200.00 to $205.00 and gave the company a “buy” rating in a report on Monday, May 13th. Seven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $185.67.

Insider Transactions at Chevron

In related news, VP Jeff B. Gustavson sold 3,750 shares of Chevron 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 directly owns 477 shares of the company’s stock, valued at $76,429.71. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Chevron news, Director Enrique Hernandez, Jr. sold 5,098 shares of the business’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $163.50, for a total value of $833,523.00. Following the transaction, the director now owns 2,549 shares of the company’s stock, valued at $416,761.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Jeff B. Gustavson sold 3,750 shares of the company’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 transaction, the vice president now owns 477 shares in the company, valued at approximately $76,429.71. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 13,946 shares of company stock valued at $2,265,971. 0.20% of the stock is owned by insiders.

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.