Chevron Corporation $CVX Stake Raised by 44 Wealth Management LLC

44 Wealth Management LLC increased its holdings in Chevron Corporation (NYSE:CVX) by 52.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 19,460 shares of the oil and gas company’s stock after buying an additional 6,709 shares during the quarter. Chevron comprises approximately 1.4% of 44 Wealth Management LLC’s investment portfolio, making the stock its 8th largest holding. 44 Wealth Management LLC’s holdings in Chevron were worth $4,026,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Midwest Capital Advisors LLC acquired a new stake in Chevron in the 1st quarter valued at about $25,000. Core Wealth Advisors LLC purchased a new stake in Chevron in the 4th quarter valued at $26,000. Phillip James Consulting Co. purchased a new stake in Chevron in the 4th quarter valued at $26,000. Basso Capital Management L.P. acquired a new stake in shares of Chevron in the 4th quarter worth $27,000. Finally, Karpus Management Inc. acquired a new stake in shares of Chevron in the 4th quarter worth $27,000. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron News Roundup

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 Stock Up 0.2%

Shares of NYSE CVX opened at $194.72 on Friday. The company has a quick ratio of 0.84, a current ratio of 1.09 and a debt-to-equity ratio of 0.21. The business’s 50 day moving average is $182.12 and its two-hundred day moving average is $183.83. Chevron Corporation has a 52-week low of $146.49 and a 52-week high of $214.71. The firm has a market cap of $387.80 billion, a price-to-earnings ratio of 33.75, a PEG ratio of 0.69 and a beta of 0.50.

Chevron (NYSE:CVX) last posted its earnings results on Friday, May 1st. The oil and gas company reported $1.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.41. The firm had revenue of $47.56 billion for the quarter, compared to analyst estimates 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 EPS. Research analysts predict that Chevron Corporation will post 15.6 EPS for the current year.

Chevron Announces Dividend

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

Insider Buying and Selling at Chevron

In other news, Director John B. Hess sold 380,000 shares of the company’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $193.20, for a total transaction of $73,416,000.00. Following the sale, the director owned 278,045 shares of the company’s stock, valued at approximately $53,718,294. This represents a 57.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.56% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on CVX shares. Wells Fargo & Company boosted their target price on shares of Chevron from $204.00 to $222.00 and gave the company an “overweight” rating in a report on Thursday, April 9th. Morgan Stanley cut their price target on shares of Chevron from $214.00 to $210.00 and set an “overweight” rating for the company in a report on Monday, June 29th. Barclays lifted their price target on shares of Chevron from $192.00 to $213.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 26th. Piper Sandler assumed coverage on Chevron in a report on Thursday. They issued an “overweight” rating and a $207.00 price objective on the stock. Finally, The Goldman Sachs Group reiterated a “buy” rating and issued a $216.00 price objective on shares of Chevron in a research report on Wednesday, May 6th. 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 company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $205.17.

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.