Rokos Capital Management LLP lowered its position in shares of Chevron Corporation (NYSE:CVX – Free Report) by 78.4% during the first quarter, HoldingsChannel reports. The firm owned 116,387 shares of the oil and gas company’s stock after selling 423,113 shares during the period. Rokos Capital Management LLP’s holdings in Chevron were worth $24,076,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in CVX. Midwest Capital Advisors LLC purchased a new stake in Chevron during the 1st quarter worth $25,000. Core Wealth Advisors LLC purchased a new position in Chevron in the 4th quarter valued at about $26,000. Phillip James Consulting Co. acquired a new stake in shares of Chevron during the fourth quarter valued at about $26,000. Basso Capital Management L.P. acquired a new stake in shares of Chevron during the fourth quarter valued at about $27,000. Finally, Karpus Management Inc. purchased a new stake in shares of Chevron during the fourth quarter worth about $27,000. 72.42% of the stock is owned by institutional investors and hedge funds.
Chevron Stock Performance
CVX stock opened at $189.84 on Tuesday. The company has a current ratio of 1.09, a quick ratio of 0.84 and a debt-to-equity ratio of 0.21. The firm has a market cap of $378.09 billion, a P/E ratio of 32.90, a P/E/G ratio of 0.65 and a beta of 0.50. Chevron Corporation has a 12-month low of $146.49 and a 12-month high of $214.71. The stock’s 50 day simple moving average is $181.99 and its 200 day simple moving average is $184.20.
Chevron Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Tuesday, May 19th were given a $1.78 dividend. This represents a $7.12 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date was Tuesday, May 19th. Chevron’s dividend payout ratio (DPR) is presently 123.40%.
Chevron News Summary
Here are the key news stories impacting Chevron this week:
- Positive Sentiment: Chevron raised its quarterly dividend, extending its decades-long streak of dividend increases and reinforcing its appeal to income-focused investors. Chevron lifts quarterly dividend
- Positive Sentiment: A Chevron subsidiary awarded Velesto a multiyear, $51 million drilling contract for the North Malay Basin gas development in Malaysia. The agreement supports Chevron’s offshore growth plans, although its direct financial impact is likely modest relative to the company’s overall scale. Chevron North Malay Basin contract
- Neutral Sentiment: CEO Mike Wirth reportedly met with U.S. officials about protecting Chevron’s Kazakhstan oil assets from becoming entangled in the Russia-Ukraine war. The discussions highlight the strategic importance of the assets but also underscore geopolitical and regulatory risks. Chevron Kazakhstan assets discussions
- Negative Sentiment: Brent crude settled 12% lower at $86.49 per barrel, while West Texas Intermediate fell 7.5% to $82.61, after President Trump suggested a potential breakthrough with Iran. Lower oil prices can pressure Chevron’s upstream revenue, cash flow and earnings expectations. Oil prices slide on Iran negotiations
- Negative Sentiment: The broader energy sector also declined as crude prices weakened, while investors favored technology and AI-related stocks ahead of major earnings reports. This sector rotation added to selling pressure on Chevron. Energy sector update
Insider Activity at Chevron
In other news, Director John B. Hess sold 380,000 shares of Chevron 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 transaction, the director directly owned 278,045 shares of the company’s stock, valued at approximately $53,718,294. The trade was a 57.75% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.56% of the company’s stock.
Wall Street Analyst Weigh In
Several research firms recently commented on CVX. Weiss Ratings cut Chevron from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, June 2nd. UBS Group restated a “buy” rating on shares of Chevron in a report on Tuesday, June 23rd. TD Cowen increased their target price on Chevron from $197.00 to $200.00 and gave the company a “hold” rating in a research note on Wednesday, July 22nd. BNP Paribas Exane raised shares of Chevron from a “neutral” rating to an “outperform” rating and set a $174.00 price target for the company in a research report on Friday, April 17th. Finally, Mizuho lifted their price target on shares of Chevron from $225.00 to $230.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 27th. Nineteen equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price 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.
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