Contravisory Investment Management Inc. Decreases Holdings in Chevron Corporation $CVX

Contravisory Investment Management Inc. decreased its stake in Chevron Corporation (NYSE:CVX) by 6.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 42,402 shares of the oil and gas company’s stock after selling 2,732 shares during the quarter. Contravisory Investment Management Inc.’s holdings in Chevron were worth $6,462,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of CVX. Perigon Wealth Management LLC boosted its stake in shares of 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 during the last quarter. Brooklyn FI LLC acquired a new position in Chevron in the 3rd quarter valued at $431,000. New York State Teachers Retirement System raised its stake in Chevron by 15.3% in the 3rd quarter. New York State Teachers Retirement System now owns 1,620,231 shares of the oil and gas company’s stock valued at $251,606,000 after purchasing an additional 215,345 shares during the last quarter. Finemark National Bank & Trust lifted its holdings in Chevron by 40.3% in the 3rd quarter. Finemark National Bank & Trust now owns 56,535 shares of the oil and gas company’s stock valued at $8,779,000 after purchasing an additional 16,243 shares in the last quarter. Finally, Pictet North America Advisors SA purchased a new position in Chevron in the 3rd quarter valued at $5,662,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on CVX. JPMorgan Chase & Co. raised shares of Chevron from a “neutral” rating to an “overweight” rating and set a $176.00 target price for the company in a report on Tuesday, January 20th. Bank of America raised their price target on shares of Chevron from $188.00 to $206.00 and gave the stock a “buy” rating in a research note on Monday, March 2nd. Morgan Stanley lowered their price target on shares of Chevron from $180.00 to $174.00 and set an “overweight” rating on the stock in a research report on Friday, January 23rd. Citigroup upped their price objective on shares of Chevron from $179.00 to $210.00 and gave the company a “buy” rating in a research note on Monday, March 2nd. Finally, Scotiabank reissued a “sector perform” rating and issued a $168.00 target price on shares of Chevron in a research note on Friday, January 16th. Fourteen investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $184.77.

Chevron Stock Up 0.8%

Shares of CVX opened at $206.77 on Wednesday. Chevron Corporation has a 52-week low of $132.04 and a 52-week high of $209.79. The company has a quick ratio of 0.86, a current ratio of 1.15 and a debt-to-equity ratio of 0.21. The stock has a fifty day simple moving average of $183.03 and a two-hundred day simple moving average of $164.16. The company has a market capitalization of $412.59 billion, a PE ratio of 31.05, a price-to-earnings-growth ratio of 1.90 and a beta of 0.67.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, January 30th. The oil and gas company reported $1.52 earnings per share for the quarter, beating the consensus estimate of $1.44 by $0.08. Chevron had a net margin of 6.51% and a return on equity of 7.89%. The firm had revenue of $45.79 billion for the quarter, compared to analysts’ expectations of $48.18 billion. During the same quarter in the previous year, the company posted $2.06 EPS. The company’s revenue was down 10.2% compared to the same quarter last year. As a group, equities analysts forecast that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 10th. Shareholders of record on Tuesday, February 17th were issued a $1.78 dividend. This represents a $7.12 annualized dividend and a yield of 3.4%. The ex-dividend date was Tuesday, February 17th. This is a positive change from Chevron’s previous quarterly dividend of $1.71. Chevron’s dividend payout ratio (DPR) is presently 106.91%.

Insiders Place Their Bets

In related news, CEO Michael K. Wirth sold 272,624 shares of the company’s stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $189.35, for a total value of $51,621,354.40. Following the transaction, the chief executive officer directly owned 31,266 shares in the company, valued at approximately $5,920,217.10. This represents a 89.71% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Andrew Benjamin Walz sold 11,600 shares of the stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $188.58, for a total value of $2,187,528.00. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 1,099,397 shares of company stock worth $196,196,468. 0.20% of the stock is currently owned by company insiders.

Key Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron CEO Mike Wirth warned markets are underpricing the supply shock from the Strait of Hormuz closure, signaling potential for sustained higher oil prices that support upstream earnings and cash flow. Chevron CEO says Iran war impact isn’t fully priced into oil market
• Positive Sentiment: New informal transit fees and disruptions in the Strait of Hormuz increase shipping costs and tighten global crude/LNG flows, a supply-side shock that typically benefits large integrated producers like Chevron. Iran Imposes Up to $2M Transit Fees on Ships in Strait of Hormuz
• Positive Sentiment: Chevron signaled operational buying for its California refinery (boosting near-term crude demand); that development lifted smaller suppliers and highlights refinery throughput that can bolster margins. Sable Offshore rises as Chevron says planning to buy oil for California refinery
• Positive Sentiment: Momentum: markets note CVX’s multi-session gains and strong YTD performance as investors rotate into energy amid tight supply expectations. Chevron extends winning streak to seventh session
• Positive Sentiment: Management push on Venezuela reforms and Chevron’s early production increases there point to potential medium-term supply upside if legal/contract certainty improves. Chevron Spots Market Gaps and Calls for Venezuela Reforms
• Neutral Sentiment: HSBC upgrade and analyst target increases give technical/psychological support to the rally but may already be priced in given CVX’s strong recent run. Chevron (NYSE:CVX) Upgraded at HSBC
• Negative Sentiment: Geopolitical headlines remain a double-edged sword — pauses in strikes or peace negotiations have previously triggered quick oil pullbacks, creating volatility risk that can reverse recent gains. Trump Pauses Iran Energy Strikes for 5 Days

About Chevron

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.