Forum Financial Management LP Boosts Holdings in Chevron Corporation $CVX

Forum Financial Management LP lifted its position in shares of Chevron Corporation (NYSE:CVX) by 11.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 36,853 shares of the oil and gas company’s stock after buying an additional 3,846 shares during the period. Forum Financial Management LP’s holdings in Chevron were worth $5,723,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently added to or reduced their stakes in CVX. Kingstone Capital Partners Texas LLC raised its position in Chevron by 652,139.5% in the second quarter. Kingstone Capital Partners Texas LLC now owns 83,714,936 shares of the oil and gas company’s stock valued at $13,214,757,000 after purchasing an additional 83,702,101 shares during the period. Norges Bank acquired a new position in Chevron in the second quarter valued at about $2,721,477,000. Laurel Wealth Advisors LLC boosted its stake in Chevron by 14,194.2% during the second quarter. Laurel Wealth Advisors LLC now owns 3,722,217 shares of the oil and gas company’s stock worth $532,984,000 after buying an additional 3,696,177 shares during the period. Berkshire Hathaway Inc increased its position in shares of Chevron by 2.9% during the second quarter. Berkshire Hathaway Inc now owns 122,064,792 shares of the oil and gas company’s stock valued at $17,478,458,000 after acquiring an additional 3,454,258 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Chevron by 4.0% during the second quarter. Charles Schwab Investment Management Inc. now owns 34,772,753 shares of the oil and gas company’s stock valued at $4,979,255,000 after acquiring an additional 1,342,723 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently commented on CVX shares. Sanford C. Bernstein upped their price objective on shares of Chevron from $170.00 to $172.00 and gave the stock a “market perform” rating in a report on Monday, January 5th. Hsbc Global Res upgraded Chevron from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 1st. Weiss Ratings restated a “hold (c)” rating on shares of Chevron in a research report on Wednesday, October 8th. Zacks Research upgraded Chevron from a “strong sell” rating to a “hold” rating in a report on Tuesday, December 23rd. Finally, Morgan Stanley lifted their target price on Chevron from $177.00 to $180.00 and gave the company an “overweight” rating in a research report on Thursday, November 13th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, nine have issued a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Chevron presently has an average rating of “Hold” and a consensus price target of $167.14.

Chevron Trading Up 1.8%

NYSE:CVX opened at $162.15 on Friday. Chevron Corporation has a 12-month low of $132.04 and a 12-month high of $168.96. The firm has a market cap of $326.49 billion, a PE ratio of 22.81, a price-to-earnings-growth ratio of 10.15 and a beta of 0.70. The company has a current ratio of 1.15, a quick ratio of 0.86 and a debt-to-equity ratio of 0.19. The stock has a fifty day moving average price of $152.31 and a 200 day moving average price of $153.49.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, October 31st. The oil and gas company reported $1.85 earnings per share for the quarter, topping the consensus estimate of $1.71 by $0.14. The company had revenue of $48.17 billion for the quarter, compared to the consensus estimate of $46.99 billion. Chevron had a return on equity of 8.74% and a net margin of 6.57%.Chevron’s revenue was down 1.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.48 EPS. Sell-side analysts anticipate that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 10th. Investors of record on Tuesday, November 18th were issued a $1.71 dividend. The ex-dividend date of this dividend was Tuesday, November 18th. This represents a $6.84 annualized dividend and a yield of 4.2%. Chevron’s dividend payout ratio (DPR) is 96.20%.

Chevron News Roundup

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron is in advanced talks with the U.S. government to expand its Venezuela license, which would allow higher exports to Chevron’s refineries and third parties — a clear potential earnings and volume catalyst. Read More.
• Positive Sentiment: Shipping and operational activity is picking up: data and filings show Chevron loading Venezuelan crude and contracting multiple tankers, signalling the company can scale flows quickly if approvals hold. Read More.
• Positive Sentiment: Market positioning and deal activity: reports show Chevron competing with traders and partners to control Venezuelan exports and lining up bids for international assets — moves that could expand supply links and reserves. Read More.
• Positive Sentiment: Analyst support: Bernstein and other outlets have recently raised targets or reiterated bullish theses on CVX amid the Venezuela angle, providing analyst-driven validation. Read More.
• Neutral Sentiment: White House engagement: President Trump met with oil executives to discuss Venezuela reconstruction — policy backing could help but details, guarantees and timelines remain uncertain. Read More.
• Neutral Sentiment: Companies want guarantees: FT/Reuters reporting that U.S. majors want formal guarantees from Washington before committing large capital, implying any large-scale Venezuela rebuild will be phased and conditional. Read More.
• Neutral Sentiment: Distribution risk: some shipments to traditional buyers (notably Chinese buyers) are paused, tempering near-term cash conversion despite increased loading activity. Read More.
• Negative Sentiment: Large insider selling disclosed (CEO, CFO and other insiders sold sizable blocks in early January), which can be perceived negatively and add short-term selling pressure. Read More.
• Negative Sentiment: Analyst downgrades and sell-side caution: at least one firm cut CVX to “Strong Sell” and others trimmed price targets, reflecting some skepticism about sustainable upside after the recent run. Read More. Read More.
• Negative Sentiment: Political/reputational risk: high-profile criticism and scrutiny around U.S. handling of Venezuela investments raise execution and regulatory uncertainty. Read More.

Insider Activity

In related news, CFO Eimear P. Bonner sold 28,334 shares of Chevron stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $165.05, for a total value of $4,676,526.70. Following the completion of the transaction, the chief financial officer owned 4,366 shares in the company, valued at $720,608.30. The trade was a 86.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John B. Hess sold 275,000 shares of the stock in a transaction that occurred on Thursday, November 20th. The shares were sold at an average price of $150.75, for a total transaction of $41,456,250.00. Following the completion of the sale, the director directly owned 1,128,045 shares in the company, valued at approximately $170,052,783.75. This represents a 19.60% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 631,990 shares of company stock worth $99,716,808 in the last ninety days. 0.21% of the stock is owned by 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.