COFG Advisors LLC bought a new position in Chevron Corporation (NYSE:CVX – Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 2,847 shares of the oil and gas company’s stock, valued at approximately $434,000.
A number of other institutional investors also recently bought and sold shares of the stock. D.B. Root & Company LLC raised its holdings 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 worth $846,000 after purchasing an additional 57 shares during the period. Cornerstone Planning Group LLC raised its holdings in Chevron by 6.8% in the 4th quarter. Cornerstone Planning Group LLC now owns 930 shares of the oil and gas company’s stock worth $142,000 after purchasing an additional 59 shares during the period. MMA Asset Management LLC raised its holdings in Chevron by 3.4% in the 4th 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 raised its holdings in Chevron by 2.8% in the 4th quarter. EWA LLC now owns 2,182 shares of the oil and gas company’s stock worth $333,000 after purchasing an additional 59 shares during the period. Finally, Hantz Financial Services Inc. raised its holdings in Chevron by 0.5% in the 4th quarter. Hantz Financial Services Inc. now owns 12,916 shares of the oil and gas company’s stock worth $1,969,000 after purchasing an additional 59 shares during the period. 72.42% of the stock is owned by institutional investors.
Insider Activity
In other news, Director John B. Hess sold 380,000 shares of Chevron stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $193.20, for a total value of $73,416,000.00. Following the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider R. Hewitt Pate sold 40,200 shares of Chevron stock in a transaction dated Monday, March 30th. The stock was sold at an average price of $213.30, for a total value of $8,574,660.00. Following the completion of the sale, the insider directly owned 8,638 shares in the company, valued at $1,842,485.40. This trade represents a 82.31% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 662,400 shares of company stock worth $127,090,824 over the last ninety days. Insiders own 0.56% of the company’s stock.
Chevron Price Performance
Chevron (NYSE:CVX – Get Free Report) last posted its quarterly earnings results on Friday, May 1st. The oil and gas company reported $1.41 EPS for the quarter, beating analysts’ consensus estimates of $1.00 by $0.41. The business had revenue of $47.56 billion for the quarter, compared to analysts’ expectations of $51.86 billion. Chevron had a return on equity of 6.90% and a net margin of 5.79%.The business’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period last year, the firm earned $2.18 earnings per share. As a group, analysts forecast that Chevron Corporation will post 15.74 EPS for the current fiscal year.
Chevron Dividend Announcement
The company also recently announced 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. This represents a $7.12 annualized dividend and a dividend yield of 3.8%. The ex-dividend date of this dividend is Tuesday, May 19th. Chevron’s payout ratio is 123.40%.
Chevron News Roundup
Here are the key news stories impacting Chevron this week:
- Positive Sentiment: Chevron is attracting fresh bullish research coverage, with several reports highlighting its earnings momentum, growth drivers, and valuation appeal. Barclays also raised its price target on Chevron to $213 from $192 while keeping an Equal Weight rating. Top Research Reports for Chevron, Goldman Sachs & Philip Morris
- Positive Sentiment: Chevron applied to join Argentina’s incentive regime for a $13.8 billion unconventional oil project in Vaca Muerta, signaling a major long-term investment that could expand production and future cash flow. Chevron applies for Argentina tax break program with $13.8 billion investment plan
- Positive Sentiment: Recent commentary also points to Chevron’s production growth and offshore expansion strategy, including its completed Hess acquisition in Guyana and new exploration ambitions in Greece, reinforcing the company’s reserve and output growth story. Chevron Deepens Offshore Bets In Guyana And Greece As Risk Profile Shifts
Wall Street Analyst Weigh In
A number of brokerages recently commented on CVX. Scotiabank raised their target price on Chevron from $168.00 to $187.00 and gave the stock a “sector perform” rating in a report on Wednesday, April 22nd. Argus set a $203.00 target price on Chevron in a report on Tuesday, February 3rd. Melius Research raised Chevron from a “hold” rating to a “buy” rating and set a $205.00 target price on the stock in a report on Tuesday, February 17th. BNP Paribas Exane raised Chevron from a “neutral” rating to an “outperform” rating and set a $174.00 target price on the stock in a report on Friday, April 17th. Finally, Citigroup raised their price target on Chevron from $210.00 to $235.00 and gave the company a “buy” rating in a report on Thursday, April 2nd. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $205.70.
View Our Latest Report on Chevron
Chevron Company 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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