BKM Wealth Management LLC Sells 5,036 Shares of Chevron Corporation $CVX

BKM Wealth Management LLC lessened its holdings in shares of Chevron Corporation (NYSE:CVX) by 33.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 10,231 shares of the oil and gas company’s stock after selling 5,036 shares during the quarter. BKM Wealth Management LLC’s holdings in Chevron were worth $1,559,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in Chevron by 17.9% during the 3rd 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 during the period. State Street Corp raised its stake in 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 valued at $23,698,184,000 after purchasing an additional 12,789,399 shares during the period. Northern Trust Corp raised its stake in Chevron by 15.3% during the 3rd quarter. Northern Trust Corp now owns 22,724,515 shares of the oil and gas company’s stock valued at $3,528,890,000 after purchasing an additional 3,007,403 shares during the period. Fisher Asset Management LLC raised its stake in Chevron by 1.6% during the 3rd quarter. Fisher Asset Management LLC now owns 21,152,060 shares of the oil and gas company’s stock valued at $3,284,704,000 after purchasing an additional 325,255 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in Chevron by 27.9% during 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 purchasing an additional 4,279,918 shares during the period. Institutional investors own 72.42% of the company’s stock.

Insider Buying and Selling at Chevron

In other Chevron news, Vice Chairman Mark A. Nelson sold 139,600 shares of the company’s stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $187.92, for a total transaction of $26,233,632.00. Following the sale, the insider directly owned 11,337 shares in the company, valued at $2,130,449.04. This represents a 92.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider R. Hewitt Pate sold 40,200 shares of the company’s stock in a transaction that occurred on Monday, March 30th. The shares were sold at an average price of $213.30, for a total value of $8,574,660.00. Following the sale, the insider owned 8,638 shares in the company, valued at approximately $1,842,485.40. This trade represents a 82.31% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 779,407 shares of company stock valued at $145,972,971. Corporate insiders own 0.56% of the company’s stock.

Chevron Stock Down 1.3%

Shares of NYSE CVX opened at $185.13 on Friday. The company has a current ratio of 1.15, a quick ratio of 0.86 and a debt-to-equity ratio of 0.21. Chevron Corporation has a 12-month low of $133.77 and a 12-month high of $214.71. The firm’s 50-day moving average price is $192.56 and its 200-day moving average price is $170.16. The stock has a market capitalization of $368.82 billion, a price-to-earnings ratio of 27.80, a P/E/G ratio of 0.79 and a beta of 0.60.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, January 30th. The oil and gas company reported $1.52 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $48.18 billion. During the same quarter last year, the firm earned $2.06 EPS. The firm’s revenue for the quarter was down 10.2% compared to the same quarter last year. On average, equities research analysts anticipate that Chevron Corporation will post 12.49 EPS for the current fiscal year.

Chevron Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 10th. Shareholders of record on Tuesday, February 17th were given a dividend of $1.78 per share. This represents a $7.12 dividend on an annualized basis and a yield of 3.8%. This is a boost from Chevron’s previous quarterly dividend of $1.71. The ex-dividend date was Tuesday, February 17th. Chevron’s dividend payout ratio (DPR) is currently 106.91%.

Key Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Wheatstone LNG has fully resumed production after cyclone repairs, restoring expected cash flow from the Australian LNG asset and removing a short-term production drag. Chevron resumes full production at Wheatstone LNG after repairs for cyclone damage
• Positive Sentiment: Chevron says it reached an asset-swap agreement that expands its stake in Venezuelan heavy oil operations — a move that could lift reserves and long-term production potential if implemented. Chevron Corporation (CVX) Expands Stakes in Venezuela Oil Operations
• Positive Sentiment: Warren Buffett’s ongoing stake and commentary on Chevron continue to be cited as a vote of confidence for long-term investors, supporting sentiment versus peers. Deepening Growth Pipeline Sustains Warren Buffett’s Confidence In Chevron (CVX)
• Positive Sentiment: Zacks has highlighted Chevron as a Bull of the Day and it’s included in lists of high-flying “old economy” stocks with room to run — analyst attention can help prop up demand in a pullback. Chevron and Avis Budget have been highlighted as Zacks Bull and Bear of the Day
• Neutral Sentiment: Chevron is a trending stock with increased retail and analyst attention; that raises liquidity and volatility but is ambivalent for direction without fresh catalysts. Chevron Corporation (CVX) Is a Trending Stock: Facts to Know Before Betting on It
• Negative Sentiment: Venezuelan partner Suelopetrol says it was not informed of Chevron’s reported expansion — a public dispute that raises execution, legal and geopolitical risk around the asset-swap and could delay realization of the announced upside. Suelopetrol says it has not been Informed of Chevron’s (CVX) Expansion at Venezuela Joint Venture
• Negative Sentiment: Zacks preview flags an expected decline in Q1 earnings, which raises the risk of a disappointing release and near-term downside if results or guidance miss. Earnings Preview: Chevron (CVX) Q1 Earnings Expected to Decline
• Negative Sentiment: After a strong YTD rally, articles note a month-long cooldown and profit-taking in big oil names; that broader flow explains part of today’s pullback even without company-specific bad news. Exxon Stock and Chevron Stock Are Up 20%+ YTD – Why the Long Oil Trade Is Stalling Out

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on CVX shares. HSBC raised Chevron from a “hold” rating to a “buy” rating and set a $215.00 target price on the stock in a report on Friday, March 20th. Sanford C. Bernstein raised their price target on Chevron from $170.00 to $172.00 and gave the company a “market perform” rating in a report on Monday, January 5th. Tudor Pickering raised Chevron from a “hold” rating to a “buy” rating and set a $225.00 price objective on the stock in a research note on Thursday, April 9th. Royal Bank Of Canada upped their price objective on Chevron from $200.00 to $220.00 and gave the stock an “outperform” rating in a report on Monday, April 13th. Finally, BMO Capital Markets reiterated an “outperform” rating and set a $190.00 target price on shares of Chevron in a research report on Monday, February 2nd. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, Chevron presently has a consensus rating of “Moderate Buy” and an average price target of $198.09.

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.