Clear Trail Advisors LLC raised its stake in Chevron Corporation (NYSE:CVX – Free Report) by 14.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 76,192 shares of the oil and gas company’s stock after purchasing an additional 9,481 shares during the period. Chevron comprises 2.6% of Clear Trail Advisors LLC’s investment portfolio, making the stock its 8th biggest position. Clear Trail Advisors LLC’s holdings in Chevron were worth $15,764,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also made changes to their positions in CVX. Norges Bank acquired a new stake in Chevron in the fourth quarter valued at approximately $3,727,586,000. State Street Corp lifted its stake in Chevron by 9.1% in the third quarter. State Street Corp now owns 152,605,988 shares of the oil and gas company’s stock worth $23,698,184,000 after acquiring an additional 12,789,399 shares during the last quarter. Berkshire Hathaway Inc grew its holdings in Chevron by 6.6% during the 4th quarter. Berkshire Hathaway Inc now owns 130,156,362 shares of the oil and gas company’s stock worth $19,837,131,000 after acquiring an additional 8,091,570 shares in the last quarter. Primecap Management Co. CA acquired a new position in Chevron during the 3rd quarter worth approximately $988,083,000. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in 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 acquiring an additional 5,537,580 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.
Key Stories Impacting Chevron
Here are the key news stories impacting Chevron this week:
- Positive Sentiment: Chevron’s Microsoft deal could create a new long-duration revenue source tied to AI data center growth, improving cash flow stability. Reuters article
- Positive Sentiment: The project may help Chevron monetize excess Permian gas that has faced pipeline bottlenecks and weak regional pricing. Business Wire article
- Neutral Sentiment: Several analysts and commentary pieces said lower crude prices are still a headwind for energy stocks, which may limit upside if oil weakness continues. Kalkine Media article
- Negative Sentiment: One article argued Chevron could be overvalued if crude keeps slipping, noting downside risk versus its recent trading levels. 24/7 Wall St. article
Wall Street Analyst Weigh In
Check Out Our Latest Research Report on Chevron
Chevron Stock Performance
NYSE:CVX opened at $176.19 on Wednesday. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.09 and a quick ratio of 0.84. The firm has a market cap of $350.90 billion, a price-to-earnings ratio of 30.54, a price-to-earnings-growth ratio of 0.57 and a beta of 0.48. The firm’s fifty day moving average price is $186.07 and its 200 day moving average price is $179.55. Chevron Corporation has a 1-year low of $142.40 and a 1-year high of $214.71.
Chevron (NYSE:CVX – Get Free Report) last announced its quarterly earnings data 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. Chevron had a net margin of 5.79% and a return on equity of 6.90%. The company had revenue of $47.56 billion during the quarter, compared to the consensus estimate of $51.86 billion. During the same quarter in the prior year, the firm earned $2.18 EPS. Chevron’s quarterly revenue was up 2.1% on a year-over-year basis. On average, sell-side analysts expect that Chevron Corporation will post 15.88 EPS for the current year.
Chevron Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Tuesday, May 19th were issued a dividend of $1.78 per share. This represents a $7.12 annualized dividend and a yield of 4.0%. The ex-dividend date of this dividend was Tuesday, May 19th. Chevron’s dividend payout ratio is currently 123.40%.
Insider Activity
In other Chevron news, Director John B. Hess sold 380,000 shares of Chevron 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 owned 278,045 shares of the company’s stock, valued at approximately $53,718,294. The trade was a 57.75% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 transaction, the insider owned 8,638 shares in the company, valued at $1,842,485.40. The trade was a 82.31% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 615,200 shares of company stock valued at $118,022,760 over the last three months. 0.56% of the stock is currently owned by corporate insiders.
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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