Barings LLC Increases Holdings in Chevron Corporation $CVX

Barings LLC boosted its stake in shares of Chevron Corporation (NYSE:CVX) by 8.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 100,446 shares of the oil and gas company’s stock after buying an additional 8,048 shares during the period. Barings LLC’s holdings in Chevron were worth $20,782,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Midwest Capital Advisors LLC purchased a new position in shares of Chevron during the 1st quarter worth $25,000. Core Wealth Advisors LLC purchased a new stake in shares of Chevron in the fourth quarter valued at about $26,000. Phillip James Consulting Co. purchased a new stake in shares of Chevron in the fourth quarter valued at about $26,000. Basso Capital Management L.P. acquired a new stake in Chevron during the fourth quarter worth about $27,000. Finally, Karpus Management Inc. acquired a new stake in Chevron during the fourth quarter worth about $27,000. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Key Headlines Impacting Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron is expected to sign memorandums of understanding with Iraq to advance investment in the West Qurna 2 and Nassiriya oilfields, potentially expanding its long-term production base. Reuters article
• Positive Sentiment: The company is also exploring a pipeline alternative to the Strait of Hormuz, which could reduce export risk and support more reliable Iraqi oil shipments if geopolitical risk stays elevated. WSJ article
• Positive Sentiment: Chevron’s stock has also been helped by broader energy-sector strength, with energy shares rising even as the wider market softened. Yahoo Finance article
• Neutral Sentiment: Analysts and commentary suggest Chevron may be fairly valued after a strong five-year run, which supports the stock but also limits the upside from valuation alone. Yahoo Finance article
• Neutral Sentiment: Recent broker notes have been mixed, including hold ratings and modest price-target cuts, indicating Wall Street is constructive but not aggressively bullish. Yahoo Finance article

Insider Buying and Selling

In other Chevron news, Director John B. Hess sold 380,000 shares of the company’s stock in a transaction 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 transaction, the director directly owned 278,045 shares in the company, valued at $53,718,294. This represents a 57.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.56% of the stock is owned by company insiders.

Chevron Price Performance

Shares of CVX opened at $183.69 on Friday. The firm has a 50-day simple moving average of $181.42 and a two-hundred day simple moving average of $182.41. The stock has a market cap of $365.83 billion, a PE ratio of 31.83, a P/E/G ratio of 0.64 and a beta of 0.50. Chevron Corporation has a 1-year low of $146.49 and a 1-year high of $214.71. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.09 and a quick ratio of 0.84.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, May 1st. The oil and gas company reported $1.41 EPS for the quarter, topping the consensus estimate of $1.00 by $0.41. The firm had revenue of $47.56 billion for the quarter, compared to analyst estimates of $51.86 billion. Chevron had a net margin of 5.79% and a return on equity of 6.90%. The business’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period in the prior year, the business posted $2.18 EPS. As a group, analysts forecast that Chevron Corporation will post 14.75 EPS for the current 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 given a $1.78 dividend. The ex-dividend date of this dividend was Tuesday, May 19th. This represents a $7.12 dividend on an annualized basis and a yield of 3.9%. Chevron’s payout ratio is presently 123.40%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on CVX shares. Sanford C. Bernstein decreased their target price on shares of Chevron from $216.00 to $204.00 and set a “market perform” rating on the stock in a report on Monday, May 11th. Morgan Stanley dropped their price target on shares of Chevron from $214.00 to $210.00 and set an “overweight” rating for the company in a research note on Monday, June 29th. The Goldman Sachs Group restated a “buy” rating and set a $216.00 price target on shares of Chevron in a report on Wednesday, May 6th. Barclays lifted their price target on shares of Chevron from $192.00 to $213.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 26th. Finally, BNP Paribas Exane upgraded Chevron from a “neutral” rating to an “outperform” rating and set a $174.00 price objective on the stock in a report on Friday, April 17th. Nineteen research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $206.83.

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.