Apollon Wealth Management LLC Purchases 10,733 Shares of Chevron Corporation $CVX

Key Points

• Apollon Wealth Management increased its Chevron stake by 11.5% in the first quarter, buying 10,733 additional shares and bringing its total holdings to 104,285 shares worth about $21.6 million.
• Chevron reported stronger-than-expected quarterly earnings, posting $1.41 EPS versus the $1.00 consensus estimate, though revenue came in below expectations at $47.56 billion.
• The company continues to support investors with a 4.2% dividend yield, while analysts remain mostly constructive overall with a consensus rating of Moderate Buy and an average price target of $205.52.

Apollon Wealth Management LLC raised its position in shares of Chevron Corporation (NYSE:CVX - Free Report) by 11.5% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 104,285 shares of the oil and gas company's stock after buying an additional 10,733 shares during the quarter. Apollon Wealth Management LLC's holdings in Chevron were worth $21,577,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Phillip James Consulting Co. purchased a new stake in Chevron during the fourth quarter valued at approximately $26,000. Core Wealth Advisors LLC purchased a new position in Chevron in the fourth quarter worth $26,000. Karpus Management Inc. purchased a new position in Chevron in the fourth quarter worth $27,000. Basso Capital Management L.P. acquired a new position in shares of Chevron during the fourth quarter worth $27,000. Finally, Quattro Advisors LLC acquired a new position in shares of Chevron during the fourth quarter worth $27,000. 72.42% of the stock is currently owned by institutional investors.

Chevron Stock Down 1.4%

Shares of CVX stock opened at $168.61 on Tuesday. The stock's 50-day simple moving average is $184.71 and its 200-day simple moving average is $180.14. 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 market capitalization of $335.81 billion, a PE ratio of 29.22, a P/E/G ratio of 0.56 and a beta of 0.48. Chevron Corporation has a fifty-two week low of $142.40 and a fifty-two week high of $214.71.

Chevron (NYSE:CVX - Get Free Report) last released 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 firm had revenue of $47.56 billion during the quarter, compared to the consensus estimate of $51.86 billion. Chevron had a return on equity of 6.90% and a net margin of 5.79%.The company's revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.18 earnings per share. Equities analysts expect that Chevron Corporation will post 15.88 earnings per share for the current year.

Chevron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Tuesday, May 19th were issued a $1.78 dividend. This represents a $7.12 annualized dividend and a dividend yield of 4.2%. The ex-dividend date of this dividend was Tuesday, May 19th. Chevron's dividend payout ratio is 123.40%.

Analyst Ratings Changes

A number of research firms have recently weighed in on CVX. Mizuho raised their price objective on Chevron from $225.00 to $230.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 27th. The Goldman Sachs Group reaffirmed a "buy" rating and set a $216.00 target price on shares of Chevron in a research report on Wednesday, May 6th. Scotiabank increased their price target on Chevron from $168.00 to $187.00 and gave the company a "sector perform" rating in a research note on Wednesday, April 22nd. HSBC raised Chevron from a "hold" rating to a "buy" rating and set a $215.00 price target for the company in a report on Friday, March 20th. Finally, Royal Bank Of Canada restated an "outperform" rating and set a $220.00 price target on shares of Chevron in a research note on Tuesday, May 5th. Eighteen equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $205.52.

Key Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron is expanding its data-center power strategy beyond Project Kilby, using natural gas to target rising AI-related electricity demand and potentially opening a new growth avenue. Chevron Expands Data Center Power Strategy Beyond Project Kilby
• Positive Sentiment: Chevron secured Texas Pacific Land support for Project Kilby, a large joint initiative with Microsoft, reinforcing execution on a potentially meaningful infrastructure and power project. Chevron Corporation (CVX) Secures Texas Pacific Land Support on Microsoft’s Project Kilby
• Positive Sentiment: Morgan Stanley kept an overweight rating on Chevron while trimming its price target only slightly to $210, signaling continued analyst confidence in upside from current levels. Benzinga report on Morgan Stanley price target cut
• Neutral Sentiment: Several recent articles highlight Chevron’s push deeper into offshore energy and its broader role in a volatile oil market, but these are more about strategy and sector positioning than a clear near-term catalyst. Chevron NYSE: CVX Pushes Deeper Into Offshore Energy
• Neutral Sentiment: Comparisons with Occidental Petroleum and commentary on Chevron’s valuation suggest investors are still weighing CVX’s upside versus peers, but no decisive new fundamental shift was reported. Occidental Petroleum or Chevron: Which Oil Stock Offers More Upside?
• Negative Sentiment: Chevron is being hurt by weaker crude prices, which pressure near-term oil and gas earnings expectations and weigh on sentiment across the sector. Why Is Chevron NYSE: CVX in Focus As Crude Slips?
• Negative Sentiment: Coverage noting that oil prices have fallen back toward pre-Iran-war levels suggests the broader commodity backdrop is less supportive for CVX in the near term. Energy ETFs to Buy as Oil Price Slides to Pre-Iran War Level

Insider Activity at Chevron

In other news, Director John B. Hess sold 380,000 shares of the 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 sale, the director owned 278,045 shares in the company, valued at $53,718,294. This represents a 57.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.56% of the stock is owned by company insiders.

About Chevron

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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