Aristotle Capital Management LLC Boosts Stake in Chevron Corporation $CVX

Aristotle Capital Management LLC grew its position in shares of Chevron Corporation (NYSE:CVX) by 653.0% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,526,223 shares of the oil and gas company’s stock after purchasing an additional 3,925,137 shares during the period. Chevron makes up about 2.0% of Aristotle Capital Management LLC’s investment portfolio, making the stock its 16th largest position. Aristotle Capital Management LLC owned approximately 0.23% of Chevron worth $936,492,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. United Bank lifted its stake in shares of Chevron by 7.7% in the 2nd quarter. United Bank now owns 11,079 shares of the oil and gas company’s stock worth $1,586,000 after acquiring an additional 796 shares during the period. Schnieders Capital Management LLC. lifted its position in shares of Chevron by 9.0% in the second quarter. Schnieders Capital Management LLC. now owns 50,839 shares of the oil and gas company’s stock worth $7,280,000 after buying an additional 4,214 shares during the last quarter. BNP Paribas lifted its position in Chevron by 76.4% during the 2nd quarter. BNP Paribas now owns 441 shares of the oil and gas company’s stock worth $63,000 after acquiring an additional 191 shares during the last quarter. Osterweis Capital Management Inc. lifted its position in shares of Chevron by 678.9% during the 2nd quarter. Osterweis Capital Management Inc. now owns 1,363 shares of the oil and gas company’s stock worth $195,000 after purchasing an additional 1,188 shares during the last quarter. Finally, Main Street Financial Solutions LLC increased its holdings in shares of Chevron by 3.6% during the 2nd quarter. Main Street Financial Solutions LLC now owns 16,052 shares of the oil and gas company’s stock worth $2,299,000 after purchasing an additional 553 shares during the period. 72.42% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Tudor Pickering upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $225.00 target price on the stock in a research report on Thursday, April 9th. Morgan Stanley reduced their target price on shares of Chevron from $214.00 to $210.00 and set an “overweight” rating on the stock in a research note on Monday, June 29th. Royal Bank Of Canada restated an “outperform” rating and issued a $220.00 price target on shares of Chevron in a report on Tuesday, May 5th. Citigroup lifted their target price on Chevron from $210.00 to $235.00 and gave the company a “buy” rating in a research report on Thursday, April 2nd. Finally, Sanford C. Bernstein reduced their target price on Chevron from $216.00 to $204.00 and set a “market perform” rating for the company in a research note on Monday, May 11th. Nineteen investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $205.17.

Insiders Place Their Bets

In related news, Director John B. Hess sold 380,000 shares of the firm’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $193.20, for a total transaction of $73,416,000.00. Following the completion of the sale, the director owned 278,045 shares in the company, valued at approximately $53,718,294. This trade represents a 57.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.56% of the company’s stock.

Key Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron was highlighted as one of the biggest beneficiaries of the recent oil rally, with Brent briefly topping $100 a barrel and integrated oil majors gaining as investors price in tighter global supply. BATL, CVX, XOM Stocks Rise As Brent Crude Tops $100 – Trump Threatens Iran With ‘Major Military Punishment’ After Houthi Attack On Saudi Ships
• Positive Sentiment: Chevron was also singled out as the only “outperform”-rated global oil major in Piper Sandler’s new coverage, reinforcing a relatively favorable analyst view versus peers. Chevron only outperform-rated name among global oil majors initiated at Piper Sandler
• Neutral Sentiment: Recent commentary says Chevron is rallying despite a classic bearish signal, suggesting momentum traders are still buying the stock even after the move in oil. Chevron ignored a classic bearish call: Here’s why stock is rallying
• Neutral Sentiment: Several previews ahead of next week’s earnings note that Chevron is expected to report higher earnings, but one Zacks piece warns the company may not have the ideal setup for a clear beat. Chevron (CVX) Earnings Expected to Grow: What to Know Ahead of Next Week’s Release
• Negative Sentiment: Some analysis cautions that Chevron’s rally could face headwinds if Chinese crude demand weakens, which could limit upside even if oil prices remain elevated. Chevron’s Biggest Stock Rally Since 2022 Faces a China-Sized Problem

Chevron Price Performance

Shares of NYSE CVX opened at $194.72 on Friday. The firm has a market capitalization of $387.80 billion, a P/E ratio of 33.75, a P/E/G ratio of 0.69 and a beta of 0.50. The firm’s 50-day moving average price is $182.12 and its 200-day moving average price is $183.83. The company has a current ratio of 1.09, a quick ratio of 0.84 and a debt-to-equity ratio of 0.21. Chevron Corporation has a 1-year low of $146.49 and a 1-year high of $214.71.

Chevron (NYSE:CVX) last issued its earnings results on Friday, May 1st. The oil and gas company reported $1.41 EPS for the quarter, beating analysts’ consensus estimates of $1.00 by $0.41. Chevron had a return on equity of 6.90% and a net margin of 5.79%.The business had revenue of $47.56 billion during the quarter, compared to analyst estimates of $51.86 billion. During the same period in the previous year, the company posted $2.18 EPS. The firm’s revenue was up 2.1% compared to the same quarter last year. Equities research analysts anticipate that Chevron Corporation will post 14.75 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Tuesday, May 19th were given a $1.78 dividend. This represents a $7.12 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date of this dividend was Tuesday, May 19th. Chevron’s dividend payout ratio is presently 123.40%.

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.