Caprock Group LLC Acquires 2,533 Shares of Chevron Co. (NYSE:CVX)

Caprock Group LLC raised its holdings in shares of Chevron Co. (NYSE:CVX) by 4.1% during the fourth quarter, HoldingsChannel reports. The fund owned 64,853 shares of the oil and gas company’s stock after purchasing an additional 2,533 shares during the quarter. Caprock Group LLC’s holdings in Chevron were worth $9,393,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in CVX. Quarry LP grew its stake in Chevron by 172.2% during the second quarter. Quarry LP now owns 411 shares of the oil and gas company’s stock valued at $64,000 after acquiring an additional 260 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in Chevron by 75.8% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 138,885 shares of the oil and gas company’s stock valued at $21,724,000 after purchasing an additional 59,885 shares during the period. Czech National Bank grew its position in shares of Chevron by 6.1% during the 3rd quarter. Czech National Bank now owns 346,490 shares of the oil and gas company’s stock valued at $51,028,000 after purchasing an additional 19,878 shares in the last quarter. Curbstone Financial Management Corp increased its holdings in shares of Chevron by 3.7% in the third quarter. Curbstone Financial Management Corp now owns 13,604 shares of the oil and gas company’s stock worth $2,003,000 after purchasing an additional 486 shares during the period. Finally, Farmers Trust Co. raised its position in shares of Chevron by 3.6% in the third quarter. Farmers Trust Co. now owns 9,704 shares of the oil and gas company’s stock worth $1,429,000 after buying an additional 334 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Wall Street Analysts Forecast Growth

CVX has been the subject of several recent analyst reports. Scotiabank reduced their target price on Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Truist Financial boosted their price objective on Chevron from $160.00 to $164.00 and gave the stock a “hold” rating in a report on Monday, January 13th. Piper Sandler lowered their target price on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. Bank of America began coverage on shares of Chevron in a research note on Thursday, October 17th. They issued a “buy” rating and a $168.00 price target for the company. Finally, Raymond James raised their price objective on shares of Chevron from $175.00 to $180.00 and gave the company an “outperform” rating in a research report on Friday, January 17th. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Chevron has an average rating of “Moderate Buy” and a consensus price target of $175.27.

Chevron Stock Performance

Chevron stock opened at $149.21 on Friday. The firm has a fifty day simple moving average of $153.46 and a two-hundred day simple moving average of $151.20. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $167.11. The company has a market capitalization of $268.14 billion, a PE ratio of 16.40, a P/E/G ratio of 1.35 and a beta of 1.12. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last released its earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.36). Chevron had a net margin of 8.44% and a return on equity of 13.15%. During the same period in the prior year, the business posted $3.45 earnings per share. Research analysts expect that Chevron Co. will post 10.18 EPS for the current year.

Insider Activity

In related news, CEO Michael K. Wirth sold 164,600 shares of the company’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the completion of the sale, the chief executive officer now directly owns 4,280 shares in the company, valued at $685,356.40. This represents a 97.47 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.20% of the company’s stock.

About Chevron

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.