Envestnet Portfolio Solutions Inc. lowered its position in shares of Chevron Corporation (NYSE:CVX – Free Report) by 3.3% in the fourth quarter, Holdings Channel reports. The firm owned 222,350 shares of the oil and gas company’s stock after selling 7,689 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Chevron were worth $33,888,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of the business. D.B. Root & Company LLC lifted its stake in Chevron by 1.0% in the 4th quarter. D.B. Root & Company LLC now owns 5,552 shares of the oil and gas company’s stock valued at $846,000 after acquiring an additional 57 shares in the last quarter. Cornerstone Planning Group LLC increased its position in Chevron by 6.8% during the fourth quarter. Cornerstone Planning Group LLC now owns 930 shares of the oil and gas company’s stock worth $142,000 after buying an additional 59 shares during the last quarter. MMA Asset Management LLC boosted its position in Chevron by 3.4% during the fourth quarter. MMA Asset Management LLC now owns 1,820 shares of the oil and gas company’s stock worth $277,000 after purchasing an additional 59 shares during the period. EWA LLC lifted its position in Chevron by 2.8% during the fourth quarter. EWA LLC now owns 2,182 shares of the oil and gas company’s stock worth $333,000 after acquiring an additional 59 shares during the last quarter. Finally, Barlow Wealth Partners LLC lifted its holdings in Chevron by 1.1% during the 4th quarter. Barlow Wealth Partners LLC now owns 5,363 shares of the oil and gas company’s stock worth $869,000 after purchasing an additional 60 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
Several equities analysts recently commented on the stock. Tudor Pickering upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $225.00 price target on the stock in a research note on Thursday, April 9th. BMO Capital Markets restated an “outperform” rating and set a $190.00 price objective on shares of Chevron in a research note on Monday, February 2nd. Zacks Research upgraded Chevron from a “hold” rating to a “strong-buy” rating in a research report on Friday, April 3rd. HSBC upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $215.00 price objective on the stock in a research note on Friday, March 20th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and set a $220.00 price target on shares of Chevron in a research report on Tuesday, May 5th. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $204.13.
Chevron Price Performance
Shares of NYSE:CVX opened at $196.08 on Tuesday. The firm has a market cap of $390.52 billion, a PE ratio of 33.98, a price-to-earnings-growth ratio of 0.64 and a beta of 0.51. The firm’s fifty day moving average is $193.26 and its 200-day moving average is $173.68. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.84 and a current ratio of 1.09. Chevron Corporation has a 52 week low of $133.77 and a 52 week high of $214.71.
Chevron (NYSE:CVX – Get Free Report) last posted its quarterly earnings data on Friday, May 1st. The oil and gas company reported $1.41 earnings per share for the quarter, beating 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 return on equity of 6.90% and a net margin of 5.79%.Chevron’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period in the prior year, the business posted $2.18 earnings per share. Sell-side analysts predict that Chevron Corporation will post 15.43 earnings per share for the current year.
Chevron Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Tuesday, May 19th will be paid a $1.78 dividend. The ex-dividend date of this dividend is Tuesday, May 19th. This represents a $7.12 annualized dividend and a dividend yield of 3.6%. Chevron’s dividend payout ratio is presently 123.40%.
Insider Activity at Chevron
In other Chevron news, insider Andrew Benjamin Walz sold 11,600 shares of the stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $188.58, for a total transaction of $2,187,528.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael K. Wirth sold 272,624 shares of the firm’s stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $189.35, for a total transaction of $51,621,354.40. Following the transaction, the chief executive officer owned 31,266 shares of the company’s stock, valued at approximately $5,920,217.10. The trade was a 89.71% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 803,570 shares of company stock valued at $151,969,798 over the last ninety days. Insiders own 0.56% of the company’s stock.
Chevron News Roundup
Here are the key news stories impacting Chevron this week:
- Positive Sentiment: Chevron agreed to sell some Asia-Pacific downstream assets and its SRC stake to Japan’s ENEOS for about $2.2 billion, a move that should help streamline the portfolio and unlock cash for higher-return uses. Article Title
- Positive Sentiment: Chevron’s CEO warning about possible physical oil shortages added to the bullish backdrop for energy prices, which can support upstream earnings and cash flow. Article Title
- Positive Sentiment: Unusually heavy call-option buying suggests traders are positioning for more upside in Chevron shares, often a sign of growing short-term optimism.
- Positive Sentiment: Recent commentary also highlighted Chevron as a trending and potentially attractive dividend stock, reinforcing the view that investors see it as a defensive income name with upside potential. Article Title
- Neutral Sentiment: Brokerage optimism and “buy” discussions from analysts may be supporting interest in the stock, but the article itself did not point to a new rating change or specific catalyst. Article Title
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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