GatePass Capital LLC Makes New Investment in Chevron Corporation $CVX

GatePass Capital LLC acquired a new position in shares of Chevron Corporation (NYSE:CVX) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 5,391 shares of the oil and gas company’s stock, valued at approximately $837,000.

A number of other hedge funds have also recently modified their holdings of the stock. Perigon Wealth Management LLC raised its position in Chevron by 19.3% in the third quarter. Perigon Wealth Management LLC now owns 73,448 shares of the oil and gas company’s stock worth $11,406,000 after acquiring an additional 11,875 shares in the last quarter. New York State Teachers Retirement System boosted its position in shares of Chevron by 15.3% during the 3rd quarter. New York State Teachers Retirement System now owns 1,620,231 shares of the oil and gas company’s stock worth $251,606,000 after purchasing an additional 215,345 shares in the last quarter. Solitude Financial Services grew its stake in shares of Chevron by 8.2% during the 2nd quarter. Solitude Financial Services now owns 25,325 shares of the oil and gas company’s stock worth $3,626,000 after purchasing an additional 1,913 shares during the period. Pictet North America Advisors SA purchased a new position in shares of Chevron in the 3rd quarter valued at about $5,662,000. Finally, Shell Asset Management Co. lifted its stake in shares of Chevron by 21.4% in the second quarter. Shell Asset Management Co. now owns 51,115 shares of the oil and gas company’s stock valued at $7,319,000 after purchasing an additional 9,002 shares during the period. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron News Summary

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron took a Final Investment Decision (FID) to expand the Leviathan offshore gas platform, adding wells and capacity to send more gas to Israel, Egypt and Jordan — a concrete growth project that should strengthen Chevron’s Eastern Mediterranean gas production and near‑term cash flow. Reuters: Chevron takes final investment decision on Leviathan gas expansion
• Positive Sentiment: Multiple outlets report Chevron is likely to receive an expanded U.S. license to operate in Venezuela, which — if finalized and implemented — would enable higher production and exports from a large resource basin and materially improve future production upside. Reuters: Chevron expected to receive expanded Venezuela license
• Neutral Sentiment: Republican bill H.R.7084 (Defending American Property Abroad Act) would give the U.S. government additional tools related to ports and assets seized by foreign states — could be helpful for U.S. companies with expropriation risk, but timing and use of the law are uncertain. QuiverQuant: H.R.7084 summary
• Neutral Sentiment: Investor commentary and screening pieces are flagging Chevron as a dividend and income name worth buying on weakness — supportive to longer‑term demand for the stock but less relevant to near‑term price moves. Seeking Alpha: Buy the dip — dividend growth stocks
• Negative Sentiment: New legislation proposed (H.R.7094, No Aid for Russian Energy Act) would restrict U.S. persons and parent companies from supplying equipment/services to Russia’s energy sector — a potential regulatory headwind for U.S. majors with any exposure or plans tied to Russia. QuiverQuant: H.R.7094 summary
• Negative Sentiment: Insider selling: an executive sold 3,200 shares at roughly $168 — common but can be interpreted as a modest near‑term negative signal to sentiment. SEC Form 4: insider sale
• Negative Sentiment: Oil prices slipped after an easing of Iran‑related geopolitical risk, which pressures upstream margins and can temper short‑term earnings for integrated majors including Chevron. Barron’s: Oil prices fall as Iran tensions ease

Insider Activity

In other Chevron news, Director John B. Hess sold 275,000 shares of the business’s stock in a transaction on Thursday, November 20th. The stock was sold at an average price of $150.75, for a total value of $41,456,250.00. Following the completion of the transaction, the director directly owned 1,128,045 shares in the company, valued at approximately $170,052,783.75. The trade was a 19.60% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Eimear P. Bonner sold 28,334 shares of the stock in a transaction on Monday, January 5th. The stock was sold at an average price of $165.05, for a total value of $4,676,526.70. Following the transaction, the chief financial officer directly owned 4,366 shares in the company, valued at approximately $720,608.30. This represents a 86.65% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 635,190 shares of company stock worth $100,254,408. Corporate insiders own 0.21% of the company’s stock.

Analyst Upgrades and Downgrades

CVX has been the topic of several recent analyst reports. UBS Group restated a “buy” rating on shares of Chevron in a research report on Monday, December 1st. Mizuho upped their price target on Chevron from $204.00 to $206.00 and gave the stock an “outperform” rating in a report on Friday, December 12th. Wells Fargo & Company lifted their price objective on Chevron from $190.00 to $196.00 and gave the stock an “overweight” rating in a report on Friday, November 14th. Zacks Research upgraded Chevron from a “strong sell” rating to a “hold” rating in a research report on Tuesday, December 23rd. Finally, HSBC set a $169.00 price target on Chevron and gave the company a “buy” rating in a research report on Monday, December 1st. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, nine have given a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat, Chevron currently has a consensus rating of “Hold” and a consensus price target of $168.27.

Chevron Stock Performance

Chevron stock opened at $166.27 on Friday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.86 and a current ratio of 1.15. Chevron Corporation has a fifty-two week low of $132.04 and a fifty-two week high of $169.37. The stock has a fifty day moving average of $153.46 and a two-hundred day moving average of $154.22. The company has a market capitalization of $334.79 billion, a price-to-earnings ratio of 23.39, a PEG ratio of 10.29 and a beta of 0.70.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, October 31st. The oil and gas company reported $1.85 EPS for the quarter, topping analysts’ consensus estimates of $1.71 by $0.14. Chevron had a return on equity of 8.74% and a net margin of 6.57%.The firm had revenue of $48.17 billion during the quarter, compared to analysts’ expectations of $46.99 billion. During the same quarter last year, the business posted $2.48 EPS. The firm’s quarterly revenue was down 1.9% compared to the same quarter last year. On average, analysts anticipate that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 10th. Stockholders of record on Tuesday, November 18th were given a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date of this dividend was Tuesday, November 18th. Chevron’s payout ratio is currently 96.20%.

Chevron Company 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.