AlTi Global Inc. Purchases 14,557 Shares of Chevron Corporation $CVX

AlTi Global Inc. boosted its position in Chevron Corporation (NYSE:CVX) by 8.5% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 185,654 shares of the oil and gas company’s stock after purchasing an additional 14,557 shares during the period. Chevron comprises 0.8% of AlTi Global Inc.’s portfolio, making the stock its 21st biggest holding. AlTi Global Inc.’s holdings in Chevron were worth $38,109,000 at the end of the most recent quarter.

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

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on CVX. Morgan Stanley decreased their target price on shares of Chevron from $214.00 to $210.00 and set an “overweight” rating on the stock in a research report on Monday, June 29th. Sanford C. Bernstein dropped their price target on Chevron from $216.00 to $204.00 and set a “market perform” rating for the company in a research report on Monday, May 11th. Jefferies Financial Group reissued a “buy” rating and set a $216.00 price objective on shares of Chevron in a research note on Friday, July 10th. Mizuho upped their price objective on Chevron from $225.00 to $230.00 and gave the company an “outperform” rating in a research report on Wednesday, May 27th. Finally, Zacks Research lowered Chevron from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 8th. Nineteen equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Chevron has a consensus rating of “Moderate Buy” and an average price target of $206.83.

Trending Headlines about Chevron

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

Insiders Place Their Bets

In other Chevron news, Director John B. Hess sold 380,000 shares of the business’s stock in a transaction dated 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 completion of the sale, the director directly owned 278,045 shares of the company’s stock, valued at $53,718,294. The trade was a 57.75% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.56% of the stock is owned by insiders.

Chevron Price Performance

CVX opened at $187.39 on Monday. The business has a fifty day moving average of $181.54 and a 200 day moving average of $182.66. The stock has a market cap 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 quick ratio of 0.84, a current ratio of 1.09 and a debt-to-equity ratio of 0.21. Chevron Corporation has a 52-week low of $146.49 and a 52-week high of $214.71.

Chevron (NYSE:CVX) last released its earnings results on Friday, May 1st. The oil and gas company reported $1.41 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.41. The business had revenue of $47.56 billion during 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%.The business’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period last 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 business also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Tuesday, May 19th were paid a $1.78 dividend. This represents a $7.12 annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend was Tuesday, May 19th. Chevron’s dividend payout ratio (DPR) is currently 123.40%.

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.