Chevron (CVX)

• Market cap: $287B
• 1 day: -0.41%
• 5 days: 2.20%
• 1 month: 6.64%
• 3 months: 9.49%
• 6 months: -0.24%
• Year to date: 7.55%
• 1 year: 11.35%
• 5 years: 35.61%
• 10 years: 39.22%
• 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)

2% less repeat investments, than reductions

Existing positions increased: 1,401 | Existing positions reduced: 1,436

5% less call options, than puts

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

2% less funds holding

Funds holding: 3,432 [Q2] → 3,360 (-72) [Q3]

3.58% less ownership

Funds ownership: 76.27% [Q2] → 72.69% (-3.58%) [Q3]

11% less capital invested

Capital invested by funds: $220B [Q2] → $195B (-$25.3B) [Q3]

25% less funds holding in top 10

Funds holding in top 10: 126 [Q2] → 95 (-31) [Q3]

29% less first-time investments, than exits

New positions opened: 173 | Existing positions closed: 245

Research analyst outlook

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

• Low target: $150 7% downside
• Avg. target: $174 8% upside
• High target: $194 21% upside

13 analyst ratings

• positive: 11 85%
• neutral: 2 15%
• negative: 0 0%

UBS Josh Silverstein 75% 1-year accuracy 33 / 44 met price target	21% upside $194	Buy Maintained	4 Nov 2024
RBC Capital Biraj Borkhataria 80% 1-year accuracy 4 / 5 met price target	9% upside $175	Outperform Maintained	4 Nov 2024
Truist Securities Neal Dingmann 52% 1-year accuracy 63 / 122 met price target	4% downside $155	Hold Maintained	4 Nov 2024
Barclays Betty Jiang 59% 1-year accuracy 13 / 22 met price target	8% upside $174	Overweight Maintained	4 Nov 2024
B of A Securities Jean Ann Salisbury 71% 1-year accuracy 10 / 14 met price target	5% upside $168	Buy Reinstated	17 Oct 2024