Dimensional Fund Advisors LP Sells 1,343,114 Shares of Chevron Corporation $CVX

Dimensional Fund Advisors LP lessened its position in Chevron Corporation (NYSE:CVX) by 9.1% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 13,353,587 shares of the oil and gas company’s stock after selling 1,343,114 shares during the quarter. Chevron makes up about 0.6% of Dimensional Fund Advisors LP’s investment portfolio, making the stock its 14th largest holding. Dimensional Fund Advisors LP owned about 0.67% of Chevron worth $2,763,210,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in CVX. Dakota Wealth Management boosted its stake in Chevron by 14.9% during the 4th quarter. Dakota Wealth Management now owns 83,265 shares of the oil and gas company’s stock valued at $12,690,000 after purchasing an additional 10,822 shares during the last quarter. Clear Trail Advisors LLC bought a new position in shares of Chevron during the fourth quarter valued at $10,167,000. Curtis Advisory Group LLC bought a new position in shares of Chevron during the fourth quarter valued at $1,381,000. Indivisible Partners purchased a new stake in shares of Chevron during the fourth quarter valued at $1,923,000. Finally, Cypress Wealth Services LLC boosted its position in shares of Chevron by 64.0% during the fourth quarter. Cypress Wealth Services LLC now owns 16,591 shares of the oil and gas company’s stock valued at $2,529,000 after buying an additional 6,475 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Chevron

In other news, Director John B. Hess sold 380,000 shares of the stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $193.20, for a total value of $73,416,000.00. Following the transaction, the director owned 278,045 shares in the company, valued at $53,718,294. This represents a 57.75% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.56% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on CVX. Wells Fargo & Company boosted their target price on Chevron from $204.00 to $222.00 and gave the stock an “overweight” rating in a research report on Thursday, April 9th. BNP Paribas Exane raised shares of Chevron from a “neutral” rating to an “outperform” rating and set a $174.00 price target on the stock in a report on Friday, April 17th. Wolfe Research upgraded shares of Chevron from a “peer perform” rating to an “outperform” rating and set a $210.00 price target for the company in a research note on Thursday, July 2nd. Mizuho boosted their price objective on shares of Chevron from $225.00 to $230.00 and gave the company an “outperform” rating in a report on Wednesday, May 27th. Finally, Jefferies Financial Group reissued a “buy” rating and set a $216.00 price objective on shares of Chevron in a report on Friday, July 10th. Nineteen research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Chevron has an average rating of “Moderate Buy” and an average price target of $206.83.

Chevron Stock Performance

Shares of CVX opened at $187.39 on Monday. The firm has a market capitalization of $373.21 billion, a P/E ratio of 32.48, a PEG ratio of 0.66 and a beta of 0.50. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.09 and a quick ratio of 0.84. Chevron Corporation has a one year low of $146.49 and a one year high of $214.71. The business has a fifty day moving average of $181.54 and a 200 day moving average of $182.66.

Chevron (NYSE:CVX) last posted its earnings results on Friday, May 1st. The oil and gas company reported $1.41 earnings per share for the quarter, beating analysts’ consensus estimates of $1.00 by $0.41. The company had revenue of $47.56 billion for the quarter, compared to the consensus estimate of $51.86 billion. Chevron had a return on equity of 6.90% and a net margin of 5.79%.Chevron’s revenue was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.18 earnings per share. As a group, sell-side analysts anticipate that Chevron Corporation will post 14.78 EPS for the current year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Tuesday, May 19th were given a dividend of $1.78 per share. The ex-dividend date of this dividend was Tuesday, May 19th. This represents a $7.12 annualized dividend and a dividend yield of 3.8%. Chevron’s dividend payout ratio is presently 123.40%.

Chevron News Summary

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron is expected to sign accords with Iraq to advance investments in major oil fields, including West Qurna 2 and Nassiriya, which could expand long-term production opportunities. Reuters article on Iraq oilfield MOUs
• Positive Sentiment: Reports that Chevron is exploring a pipeline alternative to the Strait of Hormuz suggest a potential way to boost Iraqi export capacity and lower shipping disruption risk, which investors may view as strategically important. The Motley Fool article on Hormuz bypass pipeline
• Positive Sentiment: Chevron is being highlighted as a relatively attractive long-term energy stock versus TotalEnergies because of its premium assets, strong balance sheet, and steadier earnings outlook. Yahoo Finance article comparing CVX and TTE
• Neutral Sentiment: Some commentary says Chevron stock looks closer to fairly valued after a strong five-year run, which may limit upside for investors expecting a clear bargain. Yahoo Finance article on valuation
• Neutral Sentiment: Chevron also benefited from broader energy-sector gains, with the sector rising even as the wider market was mixed. Yahoo Finance sector update

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.