LPL Financial LLC grew its holdings in shares of Chevron Corporation (NYSE:CVX – Free Report) by 0.9% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 4,134,009 shares of the oil and gas company’s stock after acquiring an additional 35,099 shares during the quarter. LPL Financial LLC’s holdings in Chevron were worth $630,064,000 as of its most recent SEC filing.
Other institutional investors also recently added to or reduced their stakes in the company. Core Wealth Advisors LLC acquired a new position in Chevron during the 4th quarter worth $26,000. Strategic Wealth Advisors LLC acquired a new position in Chevron during the 4th quarter worth $33,000. Daytona Street Capital LLC acquired a new position in Chevron during the 4th quarter worth $44,000. Turning Point Benefit Group Inc. acquired a new position in Chevron during the 3rd quarter worth $49,000. Finally, Maseco LLP acquired a new position in Chevron during the 4th quarter worth $49,000. Institutional investors and hedge funds own 72.42% of the company’s stock.
Trending Headlines about Chevron
Here are the key news stories impacting Chevron this week:
- Positive Sentiment: Several recent articles highlight Chevron as a durable, low-beta energy name with resilient assets, strong cash flow, and a dependable dividend, which can attract buyers during volatile markets. 4 Best Low-Beta Stocks to Buy Right Away: LQDA, CVX, OXY & VLO
- Positive Sentiment: Chevron has outperformed its industry and sector over the past month, with commentary pointing to dividend growth and 2030 cash flow targets as reasons investors remain constructive. CVX Stock Outpaces Industry in a Month: Should Investors Stay Bullish?
- Positive Sentiment: Oil-stock forecasts remain supportive as conflict-related supply worries keep crude in focus, which tends to benefit Chevron through improved upstream pricing and sector rotation into energy. CVX, XOM and SHEL Forecasts – Oil Stocks in Focus as Conflict Continues
- Positive Sentiment: Street commentary also suggests Chevron is still a long-term hold, with articles calling it an “ultra-safe” dividend stock and saying its long-term prospects remain rosy. Got $3,000? 1 Ultra-Safe Dow Dividend Stock to Buy and Hold Forever
- Neutral Sentiment: Analyst notes show a mixed valuation picture: some targets were lifted modestly, but others say Chevron looks fully valued if oil prices ease, leaving the stock sensitive to commodity assumptions. How The Chevron (CVX) Story Is Shifting With New Analyst Targets And Oil Market Risks
- Negative Sentiment: One recent downgrade argued Chevron could be pressured if an Iran deal or easing geopolitical risk sends oil prices lower, which would reduce the stock’s near-term upside. Chevron Looks Fully Valued As An Iran Deal Could Send Oil Lower (Rating Downgrade)
Wall Street Analysts Forecast Growth
Read Our Latest Stock Report on CVX
Insiders Place Their Bets
In related news, Director John B. Hess sold 380,000 shares of Chevron stock in a transaction dated Wednesday, May 20th. The stock was 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 of the company’s stock, valued at approximately $53,718,294. This trade represents a 57.75% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider R. Hewitt Pate sold 40,200 shares of Chevron stock in a transaction dated Monday, March 30th. The stock was sold at an average price of $213.30, for a total value of $8,574,660.00. Following the completion of the transaction, the insider directly owned 8,638 shares in the company, valued at $1,842,485.40. This represents a 82.31% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 615,200 shares of company stock valued at $118,022,760 in the last quarter. 0.56% of the stock is currently owned by corporate insiders.
Chevron Trading Up 0.1%
Shares of Chevron stock opened at $187.46 on Monday. 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 firm has a market cap of $373.35 billion, a price-to-earnings ratio of 32.49, a price-to-earnings-growth ratio of 0.62 and a beta of 0.48. The business has a fifty day simple moving average of $190.66 and a 200-day simple moving average of $176.97. Chevron Corporation has a fifty-two week low of $138.09 and a fifty-two week high of $214.71.
Chevron (NYSE:CVX – Get Free Report) last announced its quarterly earnings data on Friday, May 1st. The oil and gas company reported $1.41 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.41. The business had revenue of $47.56 billion during 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 company’s revenue was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.18 earnings per share. On average, equities analysts forecast that Chevron Corporation will post 15.74 EPS for the current fiscal year.
Chevron Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Tuesday, May 19th will be issued a dividend of $1.78 per share. This represents a $7.12 annualized dividend and a dividend yield of 3.8%. The ex-dividend date of this dividend is Tuesday, May 19th. Chevron’s dividend payout ratio is currently 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.
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