Kingsview Wealth Management LLC grew its stake in shares of Chevron Corporation (NYSE:CVX – Free Report) by 4.7% during the 4th quarter, Holdings Channel.com reports. The firm owned 114,215 shares of the oil and gas company’s stock after acquiring an additional 5,177 shares during the period. Kingsview Wealth Management LLC’s holdings in Chevron were worth $17,407,000 at the end of the most recent reporting period.
Several other institutional investors also recently made changes to their positions in CVX. Vanguard Group Inc. boosted its position in shares of Chevron by 17.9% during the 3rd quarter. Vanguard Group Inc. now owns 183,790,028 shares of the oil and gas company’s stock worth $28,540,753,000 after purchasing an additional 27,961,463 shares in the last quarter. State Street Corp boosted its position in shares of Chevron by 9.1% during the 3rd quarter. State Street Corp now owns 152,605,988 shares of the oil and gas company’s stock worth $23,698,184,000 after purchasing an additional 12,789,399 shares in the last quarter. Primecap Management Co. CA purchased a new stake in shares of Chevron during the 3rd quarter worth $988,083,000. Northwestern Mutual Wealth Management Co. raised its stake in shares of Chevron by 822.0% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 6,211,258 shares of the oil and gas company’s stock worth $946,658,000 after buying an additional 5,537,580 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of Chevron by 27.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 19,627,146 shares of the oil and gas company’s stock worth $3,047,900,000 after buying an additional 4,279,918 shares during the last quarter. 72.42% of the stock is currently owned by hedge funds and other institutional investors.
Insider Transactions at Chevron
In other news, Vice Chairman Mark A. Nelson sold 139,600 shares of the company’s stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $187.92, for a total transaction of $26,233,632.00. Following the completion of the transaction, the insider owned 11,337 shares of the company’s stock, valued at $2,130,449.04. This represents a 92.49% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director John B. Hess sold 380,000 shares of the company’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $193.20, for a total transaction of $73,416,000.00. Following the transaction, the director directly owned 278,045 shares of the company’s stock, valued at approximately $53,718,294. This represents a 57.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 1,179,699 shares of company stock worth $224,675,517 in the last ninety days. Company insiders own 0.56% of the company’s stock.
Key Stories Impacting Chevron
- Positive Sentiment: Mizuho raised its price target on Chevron to $230 and kept an outperform rating, signaling expectations for meaningful upside from current levels.
- Positive Sentiment: RBC Capital and UBS remained bullish after strong Q1 results, reinforcing the view that Chevron’s earnings strength and free cash flow can support the shares.
- Positive Sentiment: New coverage highlighted Chevron as a top high-yield energy name, with analysts emphasizing its dividend appeal and resilience for long-term income investors.
- Positive Sentiment: Chevron shareholders rejected a proposal for an independent board chair, which preserves the company’s current leadership structure and may be seen as a vote of confidence in management. Reuters article
- Neutral Sentiment: Multiple articles continued to frame Chevron as a durable, income-oriented energy stock, but these pieces were mostly commentary rather than new company-specific catalysts.
- Neutral Sentiment: Reports about Chevron’s Mediterranean gas expansion and recent valuation checks suggest long-term growth potential, though they did not provide a fresh short-term catalyst.
- Negative Sentiment: Some market commentary noted that Chevron is already trading at a premium to recent levels, which may be encouraging investors to wait for a better entry point.
Chevron Trading Down 1.3%
Shares of CVX stock opened at $182.24 on Thursday. The firm has a 50-day moving average price of $192.89 and a 200 day moving average price of $175.45. Chevron Corporation has a twelve month low of $135.21 and a twelve month high of $214.71. The company has a market capitalization of $362.95 billion, a price-to-earnings ratio of 31.58, a PEG ratio of 0.61 and a beta of 0.51. The company has a current ratio of 1.09, a quick ratio of 0.84 and a debt-to-equity ratio of 0.21.
Chevron (NYSE:CVX – Get Free Report) last announced its earnings results 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. Chevron had a net margin of 5.79% and a return on equity of 6.90%. The firm had revenue of $47.56 billion during the quarter, compared to the consensus estimate of $51.86 billion. During the same quarter in the previous year, the company posted $2.18 EPS. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. Research analysts forecast that Chevron Corporation will post 15.74 earnings per share for the current fiscal year.
Chevron Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Investors 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 yield of 3.9%. Chevron’s payout ratio is presently 123.40%.
Analyst Ratings Changes
Several research analysts have recently issued reports on CVX shares. Wall Street Zen raised Chevron from a “sell” rating to a “hold” rating in a research note on Saturday, January 31st. Morgan Stanley lifted their price target on Chevron from $212.00 to $214.00 and gave the stock an “overweight” rating in a research note on Friday, May 22nd. Zacks Research raised Chevron from a “hold” rating to a “strong-buy” rating in a research note on Friday, April 3rd. Argus set a $203.00 price target on Chevron in a research note on Tuesday, February 3rd. Finally, Sanford C. Bernstein cut their price target on Chevron from $216.00 to $204.00 and set a “market perform” rating for the company in a research note on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $205.70.
Get Our Latest Stock Report on Chevron
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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