Burford Brothers Inc. reduced its holdings in Chevron Corporation (NYSE:CVX – Free Report) by 31.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,107 shares of the oil and gas company’s stock after selling 4,209 shares during the period. Burford Brothers Inc.’s holdings in Chevron were worth $1,388,000 at the end of the most recent quarter.
Several other institutional investors also recently bought and sold shares of CVX. Strategic Wealth Advisors LLC acquired a new stake in Chevron in the fourth quarter valued at approximately $33,000. Daytona Street Capital LLC purchased a new position in shares of Chevron in the fourth quarter valued at approximately $44,000. Maseco LLP purchased a new position in shares of Chevron in the fourth quarter valued at approximately $49,000. Turning Point Benefit Group Inc. purchased a new position in shares of Chevron in the third quarter valued at approximately $49,000. Finally, High Point Wealth Management LLC purchased a new position in shares of Chevron in the fourth quarter valued at approximately $53,000. 72.42% of the stock is owned by institutional investors and hedge funds.
More Chevron News
Here are the key news stories impacting Chevron this week:
- Positive Sentiment: Chevron agreed to sell its Singapore refining stake and other Asia-Pacific downstream assets to ENEOS for roughly $2.17 billion, reinforcing its strategy to streamline the portfolio and potentially improve returns. Reuters article on ENEOS buying Chevron assets
- Positive Sentiment: Another report framed Chevron’s recent earnings as less weak than the headline numbers suggested, noting that the company’s share price did not fall sharply after the results, which may indicate investors are focusing on underlying cash generation and strategic actions rather than the revenue miss. Yahoo Finance article on Chevron earnings
- Neutral Sentiment: Market commentary this week also compared Chevron with TotalEnergies and discussed broader oil-sector themes, but those pieces were more about sector positioning than a direct new fundamental change for Chevron. Motley Fool comparison article
- Negative Sentiment: Chevron’s latest quarter was mixed, with earnings per share beating estimates but revenue coming in below expectations, which could temper enthusiasm if investors refocus on operating performance rather than asset sales. Chevron stock background
Chevron Stock Performance
Chevron (NYSE:CVX – Get Free Report) last released its quarterly earnings data on Friday, May 1st. The oil and gas company reported $1.41 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $0.41. The company 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%.The firm’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.18 earnings per share. On average, research analysts anticipate that Chevron Corporation will post 15.43 earnings per share for the current year.
Chevron Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Shareholders of record on Tuesday, May 19th will be paid a dividend of $1.78 per share. The ex-dividend date of this dividend is Tuesday, May 19th. This represents a $7.12 annualized dividend and a yield of 3.7%. Chevron’s dividend payout ratio (DPR) is 123.40%.
Wall Street Analyst Weigh In
Several equities analysts have recently weighed in on CVX shares. Mizuho raised their target price on Chevron from $206.00 to $217.00 and gave the company an “outperform” rating in a research report on Tuesday, March 17th. Wall Street Zen upgraded Chevron from a “sell” rating to a “hold” rating in a research report on Saturday, January 31st. TD Cowen raised their target price on Chevron from $204.00 to $205.00 and gave the company a “hold” rating in a research report on Friday, May 8th. JPMorgan Chase & Co. upgraded Chevron from a “neutral” rating to an “overweight” rating and set a $176.00 target price on the stock in a research report on Tuesday, January 20th. Finally, Argus set a $203.00 target price on Chevron in a research report on Tuesday, February 3rd. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Chevron currently has an average rating of “Moderate Buy” and an average target price of $204.13.
Check Out Our Latest Report on Chevron
Insider Activity at Chevron
In other Chevron news, insider R. Hewitt Pate sold 40,200 shares of the firm’s stock in a transaction on Monday, March 30th. The stock was sold at an average price of $213.30, for a total transaction of $8,574,660.00. Following the completion of the sale, the insider owned 8,638 shares of the company’s stock, valued at $1,842,485.40. This trade represents a 82.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Andrew Benjamin Walz sold 11,600 shares of the firm’s stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $188.58, for a total value of $2,187,528.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 803,570 shares of company stock valued at $151,969,798 over the last 90 days. Corporate insiders own 0.56% of the company’s stock.
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.
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