Daymark Wealth Partners LLC Has $14.73 Million Stock Holdings in Chevron Corporation $CVX

Daymark Wealth Partners LLC grew its stake in Chevron Corporation (NYSE:CVX) by 2.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 96,641 shares of the oil and gas company’s stock after acquiring an additional 2,453 shares during the period. Daymark Wealth Partners LLC’s holdings in Chevron were worth $14,729,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. grew its stake in Chevron by 17.9% in the third quarter. Vanguard Group Inc. now owns 183,790,028 shares of the oil and gas company’s stock valued at $28,540,753,000 after purchasing an additional 27,961,463 shares in the last quarter. Norges Bank acquired a new position in shares of Chevron during the 2nd quarter worth approximately $2,721,477,000. State Street Corp raised its stake in shares of Chevron by 9.1% during the 3rd quarter. State Street Corp now owns 152,605,988 shares of the oil and gas company’s stock worth $23,698,184,000 after purchasing an additional 12,789,399 shares in the last quarter. Primecap Management Co. CA bought a new stake in shares of Chevron during the 3rd quarter worth approximately $988,083,000. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Chevron by 27.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 19,627,146 shares of the oil and gas company’s stock valued at $3,047,900,000 after buying an additional 4,279,918 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Stock Performance

NYSE CVX opened at $206.77 on Wednesday. The firm has a 50-day moving average price of $183.03 and a two-hundred day moving average price of $164.16. Chevron Corporation has a 12-month low of $132.04 and a 12-month high of $209.79. The company has a market capitalization of $412.59 billion, a P/E ratio of 31.05, a P/E/G ratio of 1.90 and a beta of 0.67. The company has a quick ratio of 0.86, a current ratio of 1.15 and a debt-to-equity ratio of 0.21.

Chevron (NYSE:CVX) last announced its earnings results on Friday, January 30th. The oil and gas company reported $1.52 EPS for the quarter, topping 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 company had revenue of $45.79 billion for the quarter, compared to analysts’ expectations of $48.18 billion. During the same period last year, the firm earned $2.06 earnings per share. The business’s revenue for the quarter was down 10.2% on a year-over-year basis. Analysts anticipate that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 10th. Investors of record on Tuesday, February 17th were given a dividend of $1.78 per share. This is an increase from Chevron’s previous quarterly dividend of $1.71. This represents a $7.12 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date of this dividend was Tuesday, February 17th. Chevron’s dividend payout ratio (DPR) is currently 106.91%.

Insider Buying and Selling

In other Chevron news, insider R. Hewitt Pate sold 58,000 shares of Chevron stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $188.65, for a total value of $10,941,700.00. Following the completion of the transaction, the insider directly owned 8,558 shares of the company’s stock, valued at $1,614,466.70. The trade was a 87.14% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Eimear P. Bonner sold 32,100 shares of the company’s stock in a transaction on Friday, January 30th. The shares were sold at an average price of $175.01, for a total value of $5,617,821.00. Following the sale, the chief financial officer owned 4,366 shares of the company’s stock, valued at approximately $764,093.66. The trade was a 88.03% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 1,099,397 shares of company stock worth $196,196,468 in the last quarter. Insiders own 0.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. JPMorgan Chase & Co. upgraded shares of Chevron from a “neutral” rating to an “overweight” rating and set a $176.00 target price on the stock in a report on Tuesday, January 20th. Bank of America increased their price target on shares of Chevron from $188.00 to $206.00 and gave the company a “buy” rating in a research note on Monday, March 2nd. Wells Fargo & Company lifted their price objective on shares of Chevron from $196.00 to $204.00 and gave the company an “overweight” rating in a research report on Monday, February 2nd. Zacks Research upgraded shares of Chevron from a “strong sell” rating to a “hold” rating in a research note on Tuesday, December 23rd. Finally, Citigroup upped their target price on shares of Chevron from $179.00 to $210.00 and gave the company a “buy” rating in a report on Monday, March 2nd. Fourteen 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 data from MarketBeat.com, Chevron has a consensus rating of “Hold” and a consensus target price of $184.77.

Key Stories Impacting Chevron

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

Chevron 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.