85,325 Shares in Chevron Corporation $CVX Purchased by Entropy Technologies LP

Entropy Technologies LP acquired a new position in Chevron Corporation (NYSE:CVX) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 85,325 shares of the oil and gas company’s stock, valued at approximately $17,654,000. Chevron accounts for approximately 0.8% of Entropy Technologies LP’s investment portfolio, making the stock its 7th biggest holding.

A number of other institutional investors and hedge funds have also made changes to their positions in CVX. Bridgewater Advisors Inc. lifted its holdings in shares of Chevron by 0.7% during the first quarter. Bridgewater Advisors Inc. now owns 8,084 shares of the oil and gas company’s stock valued at $1,673,000 after purchasing an additional 57 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its stake in shares of Chevron by 88.4% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 140,947 shares of the oil and gas company’s stock worth $29,162,000 after buying an additional 66,125 shares during the last quarter. Galaxy Digital Inc. purchased a new stake in shares of Chevron in the 1st quarter worth approximately $2,028,000. Bollard Group LLC increased its position in Chevron by 3.5% during the 1st quarter. Bollard Group LLC now owns 135,446 shares of the oil and gas company’s stock valued at $28,024,000 after buying an additional 4,626 shares in the last quarter. Finally, Rockbridge Investment Management LCC bought a new position in Chevron during the 1st quarter valued at approximately $326,000. Institutional investors own 72.42% of the company’s stock.

Chevron Stock Performance

Shares of CVX opened at $194.72 on Friday. The business’s fifty day simple moving average is $182.12 and its two-hundred day simple moving average is $183.83. The company has a current ratio of 1.09, a quick ratio of 0.84 and a debt-to-equity ratio of 0.21. Chevron Corporation has a 12 month low of $146.49 and a 12 month high of $214.71. The company has a market cap of $387.80 billion, a price-to-earnings ratio of 33.75, a P/E/G ratio of 0.69 and a beta of 0.50.

Chevron (NYSE:CVX) last posted 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 business had revenue of $47.56 billion during the quarter, compared to analyst estimates of $51.86 billion. Chevron had a return on equity of 6.90% and a net margin of 5.79%.The company’s quarterly 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 14.75 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Tuesday, May 19th were issued a $1.78 dividend. This represents a $7.12 annualized dividend and a yield of 3.7%. The ex-dividend date was Tuesday, May 19th. Chevron’s dividend payout ratio (DPR) is presently 123.40%.

Key Headlines Impacting Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron was highlighted as one of the biggest beneficiaries of the recent oil rally, with Brent briefly topping $100 a barrel and integrated oil majors gaining as investors price in tighter global supply. BATL, CVX, XOM Stocks Rise As Brent Crude Tops $100 – Trump Threatens Iran With ‘Major Military Punishment’ After Houthi Attack On Saudi Ships
• Positive Sentiment: Chevron was also singled out as the only “outperform”-rated global oil major in Piper Sandler’s new coverage, reinforcing a relatively favorable analyst view versus peers. Chevron only outperform-rated name among global oil majors initiated at Piper Sandler
• Neutral Sentiment: Recent commentary says Chevron is rallying despite a classic bearish signal, suggesting momentum traders are still buying the stock even after the move in oil. Chevron ignored a classic bearish call: Here’s why stock is rallying
• Neutral Sentiment: Several previews ahead of next week’s earnings note that Chevron is expected to report higher earnings, but one Zacks piece warns the company may not have the ideal setup for a clear beat. Chevron (CVX) Earnings Expected to Grow: What to Know Ahead of Next Week’s Release
• Negative Sentiment: Some analysis cautions that Chevron’s rally could face headwinds if Chinese crude demand weakens, which could limit upside even if oil prices remain elevated. Chevron’s Biggest Stock Rally Since 2022 Faces a China-Sized Problem

Insiders Place Their Bets

In other Chevron news, Director John B. Hess sold 380,000 shares of the business’s stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $193.20, for a total value of $73,416,000.00. Following the completion of the transaction, the director owned 278,045 shares of the company’s stock, valued at approximately $53,718,294. The trade was a 57.75% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.56% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on CVX shares. Mizuho boosted their target price on Chevron from $225.00 to $230.00 and gave the stock an “outperform” rating in a report on Wednesday, May 27th. Wells Fargo & Company raised their price target on Chevron from $204.00 to $222.00 and gave the company an “overweight” rating in a report on Thursday, April 9th. Tudor Pickering raised Chevron from a “hold” rating to a “buy” rating and set a $225.00 price target for the company in a research report on Thursday, April 9th. Scotiabank upped their price target on shares of Chevron from $168.00 to $187.00 and gave the stock a “sector perform” rating in a research note on Wednesday, April 22nd. Finally, Morgan Stanley cut their price objective on shares of Chevron from $214.00 to $210.00 and set an “overweight” rating on the stock in a research report on Monday, June 29th. Nineteen analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Chevron has a consensus rating of “Moderate Buy” and a consensus price target of $205.17.

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.