Hilltop Holdings Inc. lessened its holdings in Chevron Corporation (NYSE:CVX – Free Report) by 64.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 30,703 shares of the oil and gas company’s stock after selling 55,927 shares during the quarter. Hilltop Holdings Inc.’s holdings in Chevron were worth $6,352,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. United Bank increased its stake in Chevron by 7.7% in the second 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 during the last quarter. Schnieders Capital Management LLC. lifted its position in shares of 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 buying an additional 4,214 shares during the last quarter. BNP Paribas lifted its position in shares of Chevron by 76.4% during the 2nd quarter. BNP Paribas now owns 441 shares of the oil and gas company’s stock worth $63,000 after buying an additional 191 shares during the last quarter. Osterweis Capital Management Inc. boosted its holdings in shares of Chevron by 678.9% in 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 buying an additional 1,188 shares in the last quarter. Finally, Main Street Financial Solutions LLC boosted its holdings in shares of Chevron by 3.6% in the 2nd 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 institutional investors and hedge funds.
Chevron Stock Performance
Shares of CVX opened at $194.72 on Friday. The company has a current ratio of 1.09, a quick ratio of 0.84 and a debt-to-equity ratio of 0.21. The firm has a market cap of $387.80 billion, a PE ratio of 33.75, a price-to-earnings-growth ratio of 0.69 and a beta of 0.50. The company’s 50 day simple moving average is $182.12 and its 200-day simple moving average is $183.83. Chevron Corporation has a 12-month low of $146.49 and a 12-month high of $214.71.
Chevron Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Tuesday, May 19th were given a dividend of $1.78 per share. This represents a $7.12 annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend was Tuesday, May 19th. Chevron’s dividend payout ratio (DPR) is presently 123.40%.
Insider Transactions at Chevron
In other Chevron news, Director John B. Hess sold 380,000 shares of Chevron stock in a transaction on 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 transaction, the director directly 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 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
Analyst Upgrades and Downgrades
A number of research analysts recently commented on CVX shares. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $216.00 target price on shares of Chevron in a research report on Wednesday, May 6th. Weiss Ratings cut shares of Chevron from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, June 2nd. Morgan Stanley decreased their price objective 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. Barclays raised their price objective on Chevron from $192.00 to $213.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 26th. Finally, Jefferies Financial Group reiterated a “buy” rating and set a $216.00 target price on shares of Chevron in a research report on Friday, July 10th. Nineteen analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $205.17.
Check Out Our Latest Stock Analysis on CVX
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.
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