Sapient Capital LLC raised its position in Chevron Corporation (NYSE:CVX – Free Report) by 2.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 301,059 shares of the oil and gas company’s stock after buying an additional 8,359 shares during the period. Chevron accounts for about 0.6% of Sapient Capital LLC’s investment portfolio, making the stock its 25th biggest position. Sapient Capital LLC’s holdings in Chevron were worth $45,856,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Strategic Wealth Advisors LLC acquired a new position in Chevron in the fourth quarter valued at about $33,000. Daytona Street Capital LLC acquired a new position in shares of Chevron during the fourth quarter worth approximately $44,000. Maseco LLP acquired a new position in shares of Chevron during the fourth quarter worth approximately $49,000. Turning Point Benefit Group Inc. acquired a new position in shares of Chevron during the third quarter worth approximately $49,000. Finally, High Point Wealth Management LLC acquired a new position in shares of Chevron during the fourth quarter worth approximately $53,000. 72.42% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling at Chevron
In other Chevron news, CEO Michael K. Wirth sold 272,624 shares of the company’s stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $189.35, for a total value of $51,621,354.40. Following the completion of the sale, the chief executive officer owned 31,266 shares of the company’s stock, valued at approximately $5,920,217.10. This represents a 89.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider R. Hewitt Pate sold 40,200 shares of the company’s stock in a transaction that occurred on Monday, March 30th. The shares were 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 directly owned 8,638 shares of the company’s stock, valued at $1,842,485.40. The trade was a 82.31% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 803,570 shares of company stock valued at $151,969,798 over the last 90 days. Company insiders own 0.56% of the company’s stock.
Chevron Trading Down 0.1%
Chevron (NYSE:CVX – Get Free Report) last posted its quarterly earnings results 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 business had revenue of $47.56 billion during the quarter, compared to the consensus estimate of $51.86 billion. Chevron had a net margin of 5.79% and a return on equity of 6.90%. Chevron’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.18 earnings per share. On average, sell-side analysts anticipate that Chevron Corporation will post 15.43 earnings per share for the current year.
Chevron Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Tuesday, May 19th will be paid a dividend of $1.78 per share. This represents a $7.12 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend is Tuesday, May 19th. Chevron’s payout ratio is 123.40%.
Wall Street Analysts Forecast Growth
A number of brokerages have recently issued reports on CVX. Bank of America upped their target price on shares of Chevron from $188.00 to $206.00 and gave the stock a “buy” rating in a research report on Monday, March 2nd. JPMorgan Chase & Co. upgraded shares of 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. BNP Paribas Exane upgraded shares of Chevron from a “neutral” rating to an “outperform” rating and set a $174.00 target price on the stock in a research report on Friday, April 17th. Morgan Stanley upped their target price on shares of Chevron from $174.00 to $212.00 and gave the stock an “overweight” rating in a research report on Friday, March 27th. Finally, Scotiabank upped their target price on shares of Chevron from $168.00 to $187.00 and gave the stock a “sector perform” rating in a research report on Wednesday, April 22nd. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $204.13.
Key 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 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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