Chevron (CVX)

• Market cap: $255B
• 1 day: 1.20%
• 5 days: -7.17%
• 1 month: -11.45%
• 3 months: -1.94%
• 6 months: -8.80%
• Year to date: -4.44%
• 1 year: -4.93%
• 5 years: 19.36%
• 10 years: 27.51%
• Sector: Energy
• Industry: Petroleum Refining

About: Chevron is an integrated energy company with exploration, production, and refining operations worldwide. It is the second-largest oil company in the United States with production of 3.1 million of barrels of oil equivalent a day, including 7.7 million cubic feet a day of natural gas and 1.8 million of barrels of liquids a day. Production activities take place in North America, South America, Europe, Africa, Asia, and Australia. Its refineries are in the US and Asia for total refining capacity of 1.8 million barrels of oil a day. Proven reserves at year-end 2023 stood at 11.1 billion barrels of oil equivalent, including 6.0 billion barrels of liquids and 30.4 trillion cubic feet of natural gas.

Employees: 45,600

Fund manager confidence

Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)

1% less funds holding

Funds holding: 3,437 [Q2] → 3,405 (-32) [Q3]

2% less repeat investments, than reductions

Existing positions increased: 1,420 | Existing positions reduced: 1,456

5% less call options, than puts

Call options by funds: $3.1B | Put options by funds: $3.27B

3.44% less ownership

Funds ownership: 76.28% [Q2] → 72.84% (-3.44%) [Q3]

11% less capital invested

Capital invested by funds: $220B [Q2] → $195B (-$24.9B) [Q3]

15% less first-time investments, than exits

New positions opened: 176 | Existing positions closed: 208

23% less funds holding in top 10

Funds holding in top 10: 127 [Q2] → 98 (-29) [Q3]

Research analyst outlook

9 Wall Street Analysts provided 1 year price targets over the past 3 months

• Low target: $160 12% upside
• Avg. target: $176 23% upside
• High target: $195 37% upside

9 analyst ratings

• positive: 8 89%
• neutral: 1 11%
• negative: 0 0%

Piper Sandler Ryan Todd 17% 1-year accuracy 6 / 36 met price target	21% upside $173	Overweight Maintained	19 Dec 2024
Wells Fargo Roger Read 23% 1-year accuracy 23 / 99 met price target	32% upside $188	Overweight Maintained	9 Dec 2024
Truist Securities Neal Dingmann 33% 1-year accuracy 47 / 141 met price target	12% upside $160	Hold Maintained	6 Dec 2024
UBS Josh Silverstein 11% 1-year accuracy 5 / 47 met price target	37% upside $195	Buy Maintained	3 Dec 2024
Citigroup Alastair Syme 0% 1-year accuracy 0 / 1 met price target	30% upside $185	Buy Upgraded	26 Nov 2024