Chevron Corporation $CVX Shares Sold by Clg LLC

Clg LLC lessened its position in Chevron Corporation (NYSE:CVX) by 20.3% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 117,686 shares of the oil and gas company’s stock after selling 29,948 shares during the quarter. Chevron accounts for approximately 6.0% of Clg LLC’s portfolio, making the stock its 3rd biggest position. Clg LLC’s holdings in Chevron were worth $24,349,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Midwest Capital Advisors LLC purchased a new position in shares of Chevron in the first quarter valued at approximately $25,000. Core Wealth Advisors LLC purchased a new stake in Chevron during the 4th quarter worth approximately $26,000. Phillip James Consulting Co. purchased a new stake in Chevron during the 4th quarter worth approximately $26,000. Quattro Advisors LLC acquired a new stake in Chevron during the 4th quarter worth approximately $27,000. Finally, Karpus Management Inc. acquired a new stake in Chevron during the 4th quarter worth approximately $27,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

More Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Piper Sandler initiated coverage on Chevron as the only global oil major with an outperform rating, a constructive signal versus peers. Chevron only outperform-rated name among global oil majors initiated at Piper Sandler
• Positive Sentiment: Oil prices surged above $100 a barrel intraday amid geopolitical tensions, which should improve Chevron’s realized prices and near-term earnings prospects. 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 highlighted as an outperformer among dividend and integrated energy names, reinforcing its appeal as a defensive income stock in a stronger oil market. Chevron Leads 3 Dividend Aristocrats Paying Up to 4% and Beating the S&P 500
• Neutral Sentiment: Chevron shut production at a U.S. Gulf platform ahead of a tropical storm, a precautionary move that may temporarily limit output but is not necessarily a long-term issue. Chevron shuts production at U.S. Gulf platform ahead of tropical storm
• Neutral Sentiment: TD Cowen raised Chevron’s price target to $200 from $197 while keeping a hold rating, suggesting modest upside but not a major change in sentiment. Chevron price target raised by TD Cowen
• Negative Sentiment: One warning sign is that some strategists see a possible China demand slowdown and falling crude imports as a threat to the recent oil-driven rally later this year. Chevron’s Biggest Stock Rally Since 2022 Faces a China-Sized Problem

Wall Street Analyst Weigh In

CVX has been the subject of several recent research reports. Zacks Research cut shares of Chevron from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 8th. Wolfe Research raised Chevron from a “peer perform” rating to an “outperform” rating and set a $210.00 price objective on the stock in a research report on Thursday, July 2nd. Wells Fargo & Company increased their price objective on Chevron from $204.00 to $222.00 and gave the company an “overweight” rating in a research note on Thursday, April 9th. Piper Sandler initiated coverage on Chevron in a report on Thursday. They issued an “overweight” rating and a $207.00 target price for the company. Finally, Weiss Ratings cut Chevron from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, June 2nd. Nineteen 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 stock has a consensus rating of “Moderate Buy” and an average price target of $205.17.

Insider Activity at Chevron

In related news, 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 completion of the transaction, the director owned 278,045 shares in the company, valued at approximately $53,718,294. The trade was a 57.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.56% of the company’s stock.

Chevron Stock Up 0.7%

Shares of Chevron stock opened at $194.39 on Friday. Chevron Corporation has a 52-week low of $146.49 and a 52-week high of $214.71. The company has a 50 day moving average of $182.04 and a 200 day moving average of $183.75. 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 company has a market capitalization of $387.15 billion, a P/E ratio of 33.69, a P/E/G ratio of 0.68 and a beta of 0.50.

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, topping 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 company had revenue of $47.56 billion during the quarter, compared to analysts’ expectations of $51.86 billion. During the same quarter in the previous year, the business posted $2.18 EPS. The firm’s revenue was up 2.1% on a year-over-year basis. As a group, research analysts forecast that Chevron Corporation will post 14.75 EPS for the current fiscal year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Tuesday, May 19th were given a dividend of $1.78 per share. This represents a $7.12 annualized dividend and a dividend yield of 3.7%. The ex-dividend date of this dividend was Tuesday, May 19th. Chevron’s payout ratio is 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.