Quantinno Capital Management LP raised its position in Chevron Corporation (NYSE:CVX – Free Report) by 32.6% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 899,637 shares of the oil and gas company’s stock after acquiring an additional 221,211 shares during the period. Quantinno Capital Management LP’s holdings in Chevron were worth $186,135,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also recently modified their holdings of CVX. Copley Financial Group Inc. grew its holdings in shares of Chevron by 22.4% during the first quarter. Copley Financial Group Inc. now owns 8,406 shares of the oil and gas company’s stock valued at $1,739,000 after buying an additional 1,538 shares during the last quarter. Lazard Asset Management LLC increased its position in shares of Chevron by 4.4% during the first quarter. Lazard Asset Management LLC now owns 203,477 shares of the oil and gas company’s stock worth $42,099,000 after acquiring an additional 8,662 shares in the last quarter. Castleark Management LLC acquired a new stake in shares of Chevron in the 1st quarter worth about $28,252,000. Family Manage LLC raised its holdings in shares of Chevron by 36.1% in the 1st quarter. Family Manage LLC now owns 3,896 shares of the oil and gas company’s stock worth $806,000 after acquiring an additional 1,033 shares during the last quarter. Finally, Gateway Wealth Partners LLC raised its holdings in shares of Chevron by 622.1% in the 1st quarter. Gateway Wealth Partners LLC now owns 12,536 shares of the oil and gas company’s stock worth $2,594,000 after acquiring an additional 10,800 shares during the last quarter. Institutional investors own 72.42% of the company’s stock.
Analyst Ratings Changes
A number of equities analysts have issued reports on the company. 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. Barclays increased their price objective on Chevron from $192.00 to $213.00 and gave the stock an “equal weight” rating in a research note on Tuesday, May 26th. Weiss Ratings lowered Chevron from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, June 2nd. Piper Sandler started coverage on Chevron in a research report on Thursday. They set an “overweight” rating and a $207.00 target price on the stock. Finally, UBS Group reiterated a “buy” rating on shares of Chevron in a report on Tuesday, June 23rd. Nineteen research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $205.17.
Chevron Stock Down 2.5%
Chevron stock opened at $189.84 on Tuesday. Chevron Corporation has a fifty-two week low of $146.49 and a fifty-two week high of $214.71. The stock has a market cap of $378.09 billion, a PE ratio of 32.90, a price-to-earnings-growth ratio of 0.65 and a beta of 0.50. The firm’s 50-day simple moving average is $181.99 and its 200 day simple moving average is $184.20. 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 (NYSE:CVX – Get Free Report) last posted its quarterly earnings data on Friday, May 1st. The oil and gas company reported $1.41 EPS 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 analyst estimates of $51.86 billion. During the same quarter last year, the business posted $2.18 EPS. The company’s revenue for the quarter was up 2.1% on a year-over-year basis. Research analysts predict that Chevron Corporation will post 15.6 EPS for the current fiscal year.
Chevron Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Tuesday, May 19th were issued a $1.78 dividend. The ex-dividend date of this dividend was Tuesday, May 19th. This represents a $7.12 annualized dividend and a dividend yield of 3.8%. Chevron’s dividend payout ratio is currently 123.40%.
Trending Headlines about Chevron
Here are the key news stories impacting Chevron this week:
- Positive Sentiment: Chevron raised its quarterly dividend, extending its decades-long streak of dividend increases and reinforcing its appeal to income-focused investors. Chevron lifts quarterly dividend
- Positive Sentiment: A Chevron subsidiary awarded Velesto a multiyear, $51 million drilling contract for the North Malay Basin gas development in Malaysia. The agreement supports Chevron’s offshore growth plans, although its direct financial impact is likely modest relative to the company’s overall scale. Chevron North Malay Basin contract
- Neutral Sentiment: CEO Mike Wirth reportedly met with U.S. officials about protecting Chevron’s Kazakhstan oil assets from becoming entangled in the Russia-Ukraine war. The discussions highlight the strategic importance of the assets but also underscore geopolitical and regulatory risks. Chevron Kazakhstan assets discussions
- Negative Sentiment: Brent crude settled 12% lower at $86.49 per barrel, while West Texas Intermediate fell 7.5% to $82.61, after President Trump suggested a potential breakthrough with Iran. Lower oil prices can pressure Chevron’s upstream revenue, cash flow and earnings expectations. Oil prices slide on Iran negotiations
- Negative Sentiment: The broader energy sector also declined as crude prices weakened, while investors favored technology and AI-related stocks ahead of major earnings reports. This sector rotation added to selling pressure on Chevron. Energy sector update
Insider Activity
In related news, 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 transaction of $73,416,000.00. Following the completion of the sale, the director directly owned 278,045 shares of the company’s stock, valued at approximately $53,718,294. This trade represents a 57.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.56% of the stock is currently owned by corporate insiders.
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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