TrueMark Investments LLC Buys 42,676 Shares of Chevron Corporation $CVX

TrueMark Investments LLC raised its position in shares of Chevron Corporation (NYSE:CVX) by 123.6% in the first quarter, Holdings Channel.com reports. The institutional investor owned 77,198 shares of the oil and gas company’s stock after buying an additional 42,676 shares during the period. Chevron comprises 3.1% of TrueMark Investments LLC’s holdings, making the stock its 2nd largest position. TrueMark Investments LLC’s holdings in Chevron were worth $15,972,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in CVX. United Bank lifted its position in shares of 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 acquiring an additional 796 shares in the last quarter. Schnieders Capital Management LLC. grew its position in Chevron by 9.0% during the 2nd quarter. Schnieders Capital Management LLC. now owns 50,839 shares of the oil and gas company’s stock worth $7,280,000 after purchasing an additional 4,214 shares in the last quarter. BNP Paribas raised its stake in Chevron by 76.4% during 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. raised its stake in Chevron by 678.9% during 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 lifted its holdings in shares of Chevron by 3.6% in the second 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 in the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Chevron Trading Up 0.4%

Shares of NYSE:CVX opened at $172.19 on Friday. The firm has a fifty day moving average of $185.38 and a two-hundred day moving average of $179.84. The firm has a market capitalization of $342.93 billion, a P/E ratio of 29.84, a price-to-earnings-growth ratio of 0.56 and a beta of 0.48. Chevron Corporation has a 12-month low of $142.40 and a 12-month 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 posted its quarterly earnings results 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 business had revenue of $47.56 billion for the quarter, compared to analysts’ expectations of $51.86 billion. During the same period in the previous year, the company posted $2.18 EPS. Chevron’s revenue was up 2.1% on a year-over-year basis. On average, equities analysts expect that Chevron Corporation will post 15.88 EPS for the current fiscal year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Tuesday, May 19th were paid a $1.78 dividend. The ex-dividend date was Tuesday, May 19th. This represents a $7.12 dividend on an annualized basis and a yield of 4.1%. Chevron’s payout ratio is 123.40%.

Analysts Set New Price Targets

Several analysts have recently commented on CVX shares. Barclays raised their target price on Chevron from $192.00 to $213.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 26th. Bank of America increased their price objective on Chevron from $188.00 to $206.00 and gave the stock a “buy” rating in a research note on Monday, March 2nd. Tudor Pickering upgraded Chevron from a “hold” rating to a “buy” rating and set a $225.00 price objective for the company in a research report on Thursday, April 9th. Scotiabank raised their price objective on Chevron from $168.00 to $187.00 and gave the stock a “sector perform” rating in a research report on Wednesday, April 22nd. Finally, TD Cowen lifted their target price on Chevron from $204.00 to $205.00 and gave the company a “hold” rating in a research note on Friday, May 8th. Eighteen equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $205.70.

Insider Activity

In other news, insider R. Hewitt Pate sold 40,200 shares of the firm’s stock in a transaction dated Monday, March 30th. The stock was sold at an average price of $213.30, for a total transaction of $8,574,660.00. Following the completion of the sale, the insider directly owned 8,638 shares of the company’s stock, valued at $1,842,485.40. This trade represents a 82.31% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John B. Hess sold 380,000 shares of Chevron stock in a transaction dated Wednesday, May 20th. The shares were 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. This represents a 57.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 615,200 shares of company stock worth $118,022,760. Insiders own 0.56% of the company’s stock.

Trending Headlines about Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron’s 20-year deal to supply natural gas for Microsoft’s West Texas AI data center strengthens the company’s role in the AI power buildout and could provide a durable new demand source for Permian gas. Chevron, Microsoft deal fuels West Texas data center expansion
• Positive Sentiment: Market coverage highlights Chevron’s Microsoft partnership as a potential growth platform, with investors increasingly treating natural gas power for AI data centers as a new opportunity for the company. Microsoft Solves AI’s Biggest Bottleneck With Chevron Deal (CVX)
• Neutral Sentiment: Chevron said operations in Venezuela continue after the earthquake, suggesting no immediate disruption there, but the update does not appear to be a major stock-moving development. Update: Market Chatter: Chevron Says Operations in Venezuela Continue After Earthquake
• Negative Sentiment: Trump’s announcement that Exxon Mobil and Chevron are being probed over gasoline pricing has created regulatory overhang and weighed on Big Oil sentiment. Trump says Exxon, Chevron among firms probed as part of surge in gas prices
• Negative Sentiment: Chevron’s CFO acknowledged gasoline prices should ease but warned the pass-through from lower crude prices will take time, reinforcing near-term pressure from public and political scrutiny. Chevron CFO says gas prices will normalize after Trump presses Big Oil

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.