Catalyst Capital Advisors LLC grew its stake in shares of Chevron Corporation (NYSE:CVX – Free Report) by 16.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 19,998 shares of the oil and gas company’s stock after acquiring an additional 2,764 shares during the period. Catalyst Capital Advisors LLC’s holdings in Chevron were worth $3,048,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. Strategic Wealth Advisors LLC purchased a new stake in shares of Chevron during the fourth quarter worth $33,000. Daytona Street Capital LLC purchased a new stake in shares of Chevron during the fourth quarter worth $44,000. Turning Point Benefit Group Inc. purchased a new stake in shares of Chevron during the third quarter worth $49,000. Maseco LLP purchased a new stake in shares of Chevron during the fourth quarter worth $49,000. Finally, High Point Wealth Management LLC purchased a new stake in shares of Chevron during the fourth quarter worth $53,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.
Chevron Trading Down 0.3%
Chevron stock opened at $182.44 on Friday. The stock has a market cap of $363.34 billion, a P/E ratio of 31.62, a PEG ratio of 0.60 and a beta of 0.51. Chevron Corporation has a fifty-two week low of $135.21 and a fifty-two week high of $214.71. The firm’s fifty day moving average price is $192.27 and its 200-day moving average price is $175.69. 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 Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Tuesday, May 19th will be issued 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 3.9%. Chevron’s dividend payout ratio is presently 123.40%.
Trending Headlines about Chevron
Here are the key news stories impacting Chevron this week:
- Positive Sentiment: Chevron CEO Mike Wirth warned that attacks on ships in the Strait of Hormuz highlight “very real” supply risks, reinforcing the case for tighter oil markets and potentially higher prices for Chevron’s production. Ships Attacked in Strait of Hormuz This Week, Chevron Says
- Positive Sentiment: Chevron and Exxon executives also warned that falling inventories could push oil higher, which would likely support Chevron’s cash flow and earnings if crude prices continue rising. Exxon, Chevron heads warn of higher oil prices amid falling inventories
- Positive Sentiment: Chevron filed to take a 70% stake in a Greek offshore gas block, signaling continued international expansion and a larger long-term resource base. Chevron files request to acquire offshore Greek block, energy ministry says
- Positive Sentiment: Chevron said it will not pay a toll to move ships through Hormuz, showing it is holding firm on operational and geopolitical terms while the region remains volatile. Chevron won’t pay toll to move ships through Hormuz, CEO tells Bloomberg TV
- Neutral Sentiment: Chevron announced Scott A. Keller will become general counsel, while current chief legal officer R. Hewitt Pate’s retirement is expected later, a routine leadership transition with limited near-term operating impact. Chevron Names New General Counsel
- Neutral Sentiment: Market commentary and investor-interest pieces suggest Chevron remains on traders’ radar, but these items do not add major new fundamentals by themselves. Chevron Corporation (CVX) is Attracting Investor Attention: Here is What You Should Know
- Negative Sentiment: Oil prices softened on hopes for a U.S.-Iran truce extension, which could ease supply fears and weigh on Chevron shares if crude remains under pressure. Oil Prices Soften as Traders Bet on Renewal of US-Iran Truce
- Negative Sentiment: Draft ceasefire and shipping-normalization talks around the Strait of Hormuz could reduce the geopolitical risk premium embedded in oil prices, which may cap near-term upside for CVX. U.S. and Iran Reach Draft 60-Day Ceasefire and Nuclear Talks Framework Pending Trump Approval
Insider Transactions at Chevron
In other news, insider Andrew Benjamin Walz sold 11,600 shares of the company’s stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $188.58, for a total value of $2,187,528.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director John B. Hess sold 380,000 shares of the company’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $193.20, for a total transaction of $73,416,000.00. Following the completion of the transaction, the director directly owned 278,045 shares in the company, valued at approximately $53,718,294. The trade was a 57.75% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 1,144,224 shares of company stock valued at $218,075,038. Corporate insiders own 0.56% of the company’s stock.
Analyst Upgrades and Downgrades
Several equities research analysts have issued reports on the company. Piper Sandler increased their target price on Chevron from $179.00 to $242.00 and gave the stock an “overweight” rating in a research report on Thursday, March 12th. Bank of America increased their target price on Chevron from $188.00 to $206.00 and gave the stock a “buy” rating in a research report on Monday, March 2nd. Scotiabank increased their target price on Chevron from $168.00 to $187.00 and gave the stock a “sector perform” rating in a research report on Wednesday, April 22nd. Sanford C. Bernstein dropped their target price on Chevron from $216.00 to $204.00 and set a “market perform” rating on the stock in a research report on Monday, May 11th. Finally, HSBC upgraded Chevron from a “hold” rating to a “buy” rating and set a $215.00 target price on the stock in a research report on Friday, March 20th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $205.70.
Get Our Latest Stock Report on CVX
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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