Chevron Corporation $CVX Stock Position Cut by Telos Capital Management Inc.

Telos Capital Management Inc. trimmed its holdings in Chevron Corporation (NYSE:CVX) by 4.6% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 103,076 shares of the oil and gas company’s stock after selling 4,950 shares during the period. Chevron comprises approximately 2.0% of Telos Capital Management Inc.’s holdings, making the stock its 8th largest holding. Telos Capital Management Inc.’s holdings in Chevron were worth $21,326,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. United Bank raised its stake 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 purchasing an additional 796 shares in the last quarter. Schnieders Capital Management LLC. grew its stake in Chevron by 9.0% in the second 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 increased its holdings in Chevron by 76.4% in the second quarter. BNP Paribas now owns 441 shares of the oil and gas company’s stock valued at $63,000 after buying an additional 191 shares during the last quarter. Osterweis Capital Management Inc. increased its holdings in Chevron by 678.9% in the second quarter. Osterweis Capital Management Inc. now owns 1,363 shares of the oil and gas company’s stock valued at $195,000 after buying an additional 1,188 shares during the last quarter. Finally, Main Street Financial Solutions LLC raised its stake in Chevron by 3.6% during 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 buying an additional 553 shares in the last quarter. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CVX has been the topic of a number of research analyst reports. Bank of America increased their target price on Chevron from $188.00 to $206.00 and gave the stock a “buy” rating in a report on Monday, March 2nd. BNP Paribas Exane upgraded Chevron from a “neutral” rating to an “outperform” rating and set a $174.00 price target for the company in a report on Friday, April 17th. TD Cowen upped their price target on Chevron from $204.00 to $205.00 and gave the company a “hold” rating in a research report on Friday, May 8th. Tudor Pickering upgraded Chevron from a “hold” rating to a “buy” rating and set a $225.00 price objective on the stock in a research note on Thursday, April 9th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $220.00 price objective on shares of Chevron in a report on Tuesday, May 5th. 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 company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $205.70.

Chevron News Roundup

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron’s Microsoft deal could create a new long-duration revenue source tied to AI data center growth, improving cash flow stability. Reuters article
• Positive Sentiment: The project may help Chevron monetize excess Permian gas that has faced pipeline bottlenecks and weak regional pricing. Business Wire article
• Neutral Sentiment: Several analysts and commentary pieces said lower crude prices are still a headwind for energy stocks, which may limit upside if oil weakness continues. Kalkine Media article
• Negative Sentiment: One article argued Chevron could be overvalued if crude keeps slipping, noting downside risk versus its recent trading levels. 24/7 Wall St. article

Insider Buying and Selling

In other Chevron news, insider R. Hewitt Pate sold 40,200 shares of the firm’s stock in a transaction on Monday, March 30th. The stock was sold at an average price of $213.30, for a total value of $8,574,660.00. Following the sale, the insider directly owned 8,638 shares in the company, valued at approximately $1,842,485.40. This trade represents a 82.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director John B. Hess sold 380,000 shares of the business’s stock in a transaction on Wednesday, May 20th. The shares were 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 of the company’s stock, valued at approximately $53,718,294. This trade represents a 57.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 615,200 shares of company stock valued at $118,022,760 in the last 90 days. Insiders own 0.56% of the company’s stock.

Chevron Stock Performance

Shares of NYSE CVX opened at $176.19 on Wednesday. The company has a quick ratio of 0.84, a current ratio of 1.09 and a debt-to-equity ratio of 0.21. The firm’s 50-day moving average price is $186.07 and its two-hundred day moving average price is $179.55. Chevron Corporation has a 52-week low of $142.40 and a 52-week high of $214.71. The stock has a market capitalization of $350.90 billion, a P/E ratio of 30.54, a P/E/G ratio of 0.57 and a beta of 0.48.

Chevron (NYSE:CVX) last posted its 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. The company 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 business’s revenue was up 2.1% compared to the same quarter last year. During the same period in the prior year, the company earned $2.18 earnings per share. As a group, sell-side analysts forecast that Chevron Corporation will post 15.88 earnings per share for the current year.

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Tuesday, May 19th were given a dividend of $1.78 per share. The ex-dividend date was Tuesday, May 19th. This represents a $7.12 dividend on an annualized basis and a yield of 4.0%. Chevron’s payout ratio is currently 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.