111 Capital Lowers Holdings in Chevron Corporation $CVX

Key Points

• 111 Capital sharply cut its Chevron stake in the fourth quarter, reducing holdings by 72.6% to 4,918 shares worth about $750,000. Several other hedge funds opened small new positions, while institutional investors still own 72.42% of Chevron’s stock.
• Chevron insiders have been selling shares, including Director John B. Hess, who sold 380,000 shares for about $73.4 million. Over the last 90 days, insiders sold 615,200 shares total, though insiders still own only 0.56% of the company.
• Analysts remain broadly constructive despite mixed views, with Chevron carrying a consensus “Moderate Buy” rating and a $205.70 price target. The company also beat EPS expectations in its latest quarter and declared a $1.78 quarterly dividend, yielding 3.8% annually.

111 Capital reduced its position in shares of Chevron Corporation (NYSE:CVX - Free Report) by 72.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,918 shares of the oil and gas company's stock after selling 13,017 shares during the quarter. 111 Capital's holdings in Chevron were worth $750,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Core Wealth Advisors LLC purchased a new position in Chevron in the 4th quarter valued at about $26,000. Strategic Wealth Advisors LLC purchased a new position in Chevron in the 4th quarter valued at about $33,000. Daytona Street Capital LLC purchased a new position in Chevron in the 4th quarter valued at about $44,000. Turning Point Benefit Group Inc. purchased a new position in Chevron in the 3rd quarter valued at about $49,000. Finally, Maseco LLP purchased a new position in Chevron in the 4th quarter valued at about $49,000. 72.42% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Chevron

In other 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 transaction of $73,416,000.00. Following the completion of the sale, the director directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider R. Hewitt Pate sold 40,200 shares of Chevron stock in a transaction on Monday, March 30th. The stock was sold at an average price of $213.30, for a total transaction of $8,574,660.00. Following the sale, the insider directly owned 8,638 shares of the company's stock, valued at approximately $1,842,485.40. This trade represents a 82.31% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 615,200 shares of company stock valued at $118,022,760. Insiders own 0.56% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Weiss Ratings lowered shares of Chevron from a "hold (c+)" rating to a "hold (c)" rating in a research note on Tuesday. Barclays raised their target price on shares of Chevron from $192.00 to $213.00 and gave the stock an "equal weight" rating in a research note on Tuesday, May 26th. Bank of America raised their target price on shares of Chevron from $188.00 to $206.00 and gave the stock a "buy" rating in a research note on Monday, March 2nd. Scotiabank raised their target price 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 raised their target price on shares of Chevron from $212.00 to $214.00 and gave the stock an "overweight" rating in a research note on Friday, May 22nd. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Chevron currently has a consensus rating of "Moderate Buy" and a consensus price target of $205.70.

Chevron Stock Down 0.5%

Chevron stock opened at $187.46 on Friday. Chevron Corporation has a fifty-two week low of $138.09 and a fifty-two week high of $214.71. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.84 and a current ratio of 1.09. The firm has a 50 day moving average price of $190.66 and a 200 day moving average price of $176.82. The company has a market capitalization of $373.35 billion, a PE ratio of 32.49, a price-to-earnings-growth ratio of 0.62 and a beta of 0.48.

Chevron (NYSE:CVX - Get Free Report) last posted its earnings results on Friday, May 1st. The oil and gas company reported $1.41 earnings per share for the quarter, beating 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 firm had revenue of $47.56 billion during the quarter, compared to the consensus estimate of $51.86 billion. During the same quarter last year, the firm earned $2.18 EPS. The firm's revenue for the quarter was up 2.1% on a year-over-year basis. Research analysts expect that Chevron Corporation will post 15.74 earnings per share for the current year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Shareholders of record on Tuesday, May 19th will be paid a $1.78 dividend. The ex-dividend date is Tuesday, May 19th. This represents a $7.12 annualized dividend and a dividend yield of 3.8%. Chevron's payout ratio is 123.40%.

Key Stories Impacting Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Several recent articles highlight Chevron as a durable, low-beta energy name with resilient assets, strong cash flow, and a dependable dividend, which can attract buyers during volatile markets. 4 Best Low-Beta Stocks to Buy Right Away: LQDA, CVX, OXY & VLO
• Positive Sentiment: Chevron has outperformed its industry and sector over the past month, with commentary pointing to dividend growth and 2030 cash flow targets as reasons investors remain constructive. CVX Stock Outpaces Industry in a Month: Should Investors Stay Bullish?
• Positive Sentiment: Oil-stock forecasts remain supportive as conflict-related supply worries keep crude in focus, which tends to benefit Chevron through improved upstream pricing and sector rotation into energy. CVX, XOM and SHEL Forecasts – Oil Stocks in Focus as Conflict Continues
• Positive Sentiment: Street commentary also suggests Chevron is still a long-term hold, with articles calling it an “ultra-safe” dividend stock and saying its long-term prospects remain rosy. Got $3,000? 1 Ultra-Safe Dow Dividend Stock to Buy and Hold Forever
• Neutral Sentiment: Analyst notes show a mixed valuation picture: some targets were lifted modestly, but others say Chevron looks fully valued if oil prices ease, leaving the stock sensitive to commodity assumptions. How The Chevron (CVX) Story Is Shifting With New Analyst Targets And Oil Market Risks
• Negative Sentiment: One recent downgrade argued Chevron could be pressured if an Iran deal or easing geopolitical risk sends oil prices lower, which would reduce the stock’s near-term upside. Chevron Looks Fully Valued As An Iran Deal Could Send Oil Lower (Rating Downgrade)

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.

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