Larson Financial Group LLC Acquires 4,959 Shares of Chevron Corporation $CVX

Larson Financial Group LLC increased its holdings in Chevron Corporation (NYSE:CVX) by 23.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 26,113 shares of the oil and gas company’s stock after buying an additional 4,959 shares during the period. Larson Financial Group LLC’s holdings in Chevron were worth $3,980,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. United Bank boosted its holdings in Chevron by 7.7% in the 2nd quarter. United Bank now owns 11,079 shares of the oil and gas company’s stock valued at $1,586,000 after purchasing an additional 796 shares during the period. Schnieders Capital Management LLC. boosted its holdings in Chevron by 9.0% in the 2nd quarter. Schnieders Capital Management LLC. now owns 50,839 shares of the oil and gas company’s stock valued at $7,280,000 after purchasing an additional 4,214 shares during the period. BNP Paribas boosted its holdings in Chevron by 76.4% in the 2nd quarter. BNP Paribas now owns 441 shares of the oil and gas company’s stock valued at $63,000 after purchasing an additional 191 shares during the period. Osterweis Capital Management Inc. boosted its holdings in Chevron by 678.9% in the 2nd quarter. Osterweis Capital Management Inc. now owns 1,363 shares of the oil and gas company’s stock valued at $195,000 after purchasing an additional 1,188 shares during the period. Finally, Main Street Financial Solutions LLC boosted its holdings in Chevron by 3.6% in the 2nd quarter. Main Street Financial Solutions LLC now owns 16,052 shares of the oil and gas company’s stock valued at $2,299,000 after purchasing an additional 553 shares during the period. 72.42% of the stock is owned by institutional investors.

Trending Headlines about Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Wall Street commentary has turned more upbeat on Chevron, with Zacks noting rising earnings estimate revisions and arguing that CVX could keep moving higher in the near term. Article Title
• Positive Sentiment: Chevron was highlighted as a long-term blue-chip idea, reinforcing the view that the company remains attractive for dividend and energy investors. Article Title
• Positive Sentiment: Chevron also drew unusually heavy call-option buying, suggesting traders are positioning for more upside in the near term. Article Title
• Positive Sentiment: Chevron agreed to sell a stake in its Asia-Pacific refining business to Japan’s Eneos for $2.2 billion, a move that can help streamline operations and raise cash. Article Title
• Neutral Sentiment: Several articles framed Chevron as a stock to watch or a “hold” at current levels, which does not point to a major fundamental surprise but helps explain continued investor focus. Article Title
• Neutral Sentiment: Coverage around Berkshire Hathaway trimming its Chevron stake created headlines, but the broader message was that Berkshire still appears committed to the company despite the sale. Article Title
• Negative Sentiment: Buffett-related reports that Berkshire Hathaway sold the largest chunk of Chevron in its Q1 stock trimming campaign may create some pressure, since investors often read Berkshire’s moves as a cautionary signal. Article Title

Insider Buying and Selling

In related news, insider Andrew Benjamin Walz sold 11,600 shares of Chevron stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $188.58, for a total value of $2,187,528.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Vice Chairman Mark A. Nelson sold 139,600 shares of Chevron stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $187.92, for a total transaction of $26,233,632.00. Following the completion of the transaction, the insider owned 11,337 shares in the company, valued at approximately $2,130,449.04. The trade was a 92.49% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 799,699 shares of company stock worth $151,259,517 over the last 90 days. Insiders own 0.56% of the company’s stock.

Wall Street Analysts Forecast Growth

CVX has been the subject of several analyst reports. Wells Fargo & Company raised their price target on shares of Chevron from $204.00 to $222.00 and gave the company an “overweight” rating in a report on Thursday, April 9th. Tudor Pickering raised shares of Chevron from a “hold” rating to a “buy” rating and set a $225.00 price target for the company in a report on Thursday, April 9th. Scotiabank raised their price target on shares of Chevron from $168.00 to $187.00 and gave the company a “sector perform” rating in a report on Wednesday, April 22nd. Zacks Research raised shares of Chevron from a “hold” rating to a “strong-buy” rating in a report on Friday, April 3rd. Finally, TD Cowen raised their price target on shares of Chevron from $204.00 to $205.00 and gave the company a “hold” rating in a report on Friday, May 8th. One 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 assigned a Sell rating to the stock. Based on data from MarketBeat.com, Chevron presently has a consensus rating of “Moderate Buy” and a consensus price target of $204.13.

Chevron Price Performance

Shares of NYSE:CVX opened at $197.38 on Wednesday. The stock has a market cap of $393.11 billion, a PE ratio of 34.21, a PEG ratio of 0.66 and a beta of 0.51. The company’s fifty day moving average is $193.41 and its 200 day moving average is $173.98. Chevron Corporation has a 52 week low of $133.77 and a 52 week high of $214.71. The company has a quick ratio of 0.84, a current ratio of 1.09 and a debt-to-equity ratio of 0.21.

Chevron (NYSE:CVX) last issued its 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 company had revenue of $47.56 billion for the quarter, compared to analysts’ expectations of $51.86 billion. Chevron had a net margin of 5.79% and a return on equity of 6.90%. The firm’s revenue was up 2.1% compared to the same quarter last year. During the same quarter last year, the company earned $2.18 EPS. Research analysts anticipate that Chevron Corporation will post 15.43 earnings per share for the current year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Tuesday, May 19th will be given a $1.78 dividend. This represents a $7.12 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date is Tuesday, May 19th. Chevron’s dividend payout ratio (DPR) is presently 123.40%.

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.