Smith Salley Wealth Management boosted its position in Chevron Corporation (NYSE:CVX – Free Report) by 3.4% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 126,862 shares of the oil and gas company’s stock after purchasing an additional 4,198 shares during the period. Chevron comprises 1.3% of Smith Salley Wealth Management’s holdings, making the stock its 22nd largest position. Smith Salley Wealth Management’s holdings in Chevron were worth $26,248,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of the business. D.B. Root & Company LLC increased its holdings in shares of Chevron by 1.0% during 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 acquiring an additional 57 shares during the last quarter. Fox Hill Wealth Management boosted its position in Chevron by 1.7% during the fourth quarter. Fox Hill Wealth Management now owns 3,443 shares of the oil and gas company’s stock worth $525,000 after purchasing an additional 57 shares during the period. Cornerstone Planning Group LLC boosted 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 purchasing an additional 59 shares during the period. MMA Asset Management LLC increased its holdings in shares of Chevron by 3.4% in the fourth quarter. MMA Asset Management LLC now owns 1,820 shares of the oil and gas company’s stock valued at $277,000 after purchasing an additional 59 shares during the last quarter. Finally, EWA LLC increased its holdings in shares of Chevron by 2.8% in the fourth quarter. EWA LLC now owns 2,182 shares of the oil and gas company’s stock valued at $333,000 after purchasing an additional 59 shares during the last quarter. Institutional investors own 72.42% of the company’s stock.
Analyst Ratings Changes
A number of analysts have recently issued reports on the stock. Royal Bank Of Canada restated an “outperform” rating and set a $220.00 target price on shares of Chevron in a research note on Tuesday, May 5th. HSBC upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $215.00 price target on the stock in a research note on Friday, March 20th. BNP Paribas Exane upgraded shares of Chevron from a “neutral” rating to an “outperform” rating and set a $174.00 price objective for the company in a research report on Friday, April 17th. Zacks Research cut Chevron from a “strong-buy” rating to a “hold” rating in a report on Monday, June 8th. Finally, Wells Fargo & Company upped their target price on Chevron from $204.00 to $222.00 and gave the company an “overweight” rating in a research report on Thursday, April 9th. Eighteen equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $205.70.
Chevron Trading Up 0.7%
CVX stock opened at $174.87 on Tuesday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.84 and a current ratio of 1.09. The company’s 50-day simple moving average is $186.32 and its 200 day simple moving average is $179.37. Chevron Corporation has a 52 week low of $142.40 and a 52 week high of $214.71. The company has a market capitalization of $348.27 billion, a PE ratio of 30.31, a price-to-earnings-growth ratio of 0.57 and a beta of 0.48.
Chevron (NYSE:CVX – Get Free Report) last released its quarterly earnings results on Friday, May 1st. The oil and gas company reported $1.41 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.41. The business had revenue of $47.56 billion for the quarter, compared to analyst estimates 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 last year, the firm earned $2.18 earnings per share. As a group, sell-side analysts anticipate that Chevron Corporation will post 15.88 earnings per share for the current year.
Chevron Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Tuesday, May 19th were given a $1.78 dividend. This represents a $7.12 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date was Tuesday, May 19th. Chevron’s payout ratio is presently 123.40%.
Insider Buying and Selling
In related news, insider R. Hewitt Pate sold 40,200 shares of the business’s stock in a transaction that occurred on 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 approximately $1,842,485.40. The trade was a 82.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director John B. Hess sold 380,000 shares of the stock in a transaction that occurred on 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 in the company, valued at $53,718,294. This represents a 57.75% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 615,200 shares of company stock valued at $118,022,760. 0.56% of the stock is owned by company insiders.
Chevron News Summary
Here are the key news stories impacting Chevron this week:
- Positive Sentiment: Chevron signed a 20-year agreement with Microsoft to help power Project Kilby, a planned 2.67-gigawatt data center campus in West Texas. The deal could create a steadier, long-duration revenue stream and positions Chevron as a beneficiary of rising AI-related electricity demand. Chevron signs power supply deal with Microsoft for Texas data center
- Positive Sentiment: The project highlights Chevron’s move beyond traditional oil and gas into lower-volatility, infrastructure-like cash flows tied to AI data center power needs. That strategic shift has been viewed favorably by investors looking for growth outside commodity swings. Chevron Signs 20-year Deal to Power Microsoft’s AI Data Centers
- Neutral Sentiment: Separately, reports noted that Treasury issued a temporary license allowing Iranian oil sales, which could affect global crude supply and energy pricing, but the immediate impact on Chevron’s stock appears secondary to the Microsoft deal. Treasury Issues 60-Day License for Iranian Oil Sales Following Switzerland Talks
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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