Banque Cantonale Vaudoise Has $7.21 Million Stake in Chevron Corporation $CVX

Key Points

• Banque Cantonale Vaudoise boosted its Chevron stake by 26.8% in the first quarter, ending with 34,832 shares valued at about $7.21 million.
• Chevron reported Q1 earnings of $1.41 per share, beating estimates, though revenue of $47.56 billion fell short of expectations. The company also posted year-over-year revenue growth of 2.1%.
• The stock is supported by a 4.1% dividend yield and broad institutional ownership, while analysts remain constructive overall with a Moderate Buy consensus and a target price around $205.70.

Banque Cantonale Vaudoise increased its stake in shares of Chevron Corporation (NYSE:CVX - Free Report) by 26.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 34,832 shares of the oil and gas company's stock after acquiring an additional 7,365 shares during the quarter. Banque Cantonale Vaudoise's holdings in Chevron were worth $7,208,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the stock. State Street Corp increased its holdings in shares of Chevron by 9.1% during the third quarter. State Street Corp now owns 152,605,988 shares of the oil and gas company's stock valued at $23,698,184,000 after acquiring an additional 12,789,399 shares in the last quarter. Berkshire Hathaway Inc grew its position in Chevron by 6.6% in the 4th quarter. Berkshire Hathaway Inc now owns 130,156,362 shares of the oil and gas company's stock valued at $19,837,131,000 after purchasing an additional 8,091,570 shares during the period. Geode Capital Management LLC grew its position in Chevron by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 43,613,011 shares of the oil and gas company's stock valued at $6,620,187,000 after purchasing an additional 134,890 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Chevron by 2.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 36,036,844 shares of the oil and gas company's stock valued at $5,492,377,000 after purchasing an additional 961,341 shares in the last quarter. Finally, Norges Bank bought a new stake in Chevron during the 4th quarter valued at $3,727,586,000. Institutional investors and hedge funds own 72.42% of the company's stock.

Chevron Stock Performance

CVX stock opened at $172.19 on Friday. 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 has a market cap of $342.93 billion, a PE ratio of 29.84, a P/E/G ratio of 0.56 and a beta of 0.48. The business has a 50 day moving average of $185.38 and a 200-day moving average of $179.84. Chevron Corporation has a 12-month low of $142.40 and a 12-month high of $214.71.

Chevron (NYSE:CVX - Get Free Report) last posted its quarterly earnings data on Friday, May 1st. The oil and gas company reported $1.41 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.41. The business had revenue of $47.56 billion for the quarter, compared to analysts' expectations 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% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.18 earnings per share. As a group, sell-side analysts expect that Chevron Corporation will post 15.88 earnings per share for the current year.

Chevron Dividend Announcement

The business also recently declared 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 annualized dividend and a yield of 4.1%. Chevron's dividend payout ratio is presently 123.40%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CVX. Sanford C. Bernstein reduced their price objective on shares of Chevron from $216.00 to $204.00 and set a "market perform" rating for the company in a report on Monday, May 11th. HSBC raised shares of Chevron from a "hold" rating to a "buy" rating and set a $215.00 price target on the stock in a research report on Friday, March 20th. Morgan Stanley boosted their price objective on Chevron from $212.00 to $214.00 and gave the stock an "overweight" rating in a report on Friday, May 22nd. The Goldman Sachs Group reissued a "buy" rating and issued a $216.00 price objective on shares of Chevron in a research note on Wednesday, May 6th. Finally, Tudor Pickering raised Chevron from a "hold" rating to a "buy" rating and set a $225.00 target price on the stock in a research report on Thursday, April 9th. Eighteen analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Chevron has a consensus rating of "Moderate Buy" and a consensus target price of $205.70.

Insider Transactions at Chevron

In related news, insider R. Hewitt Pate sold 40,200 shares of Chevron stock in a transaction that occurred on Monday, March 30th. The shares were sold at an average price of $213.30, for a total value of $8,574,660.00. Following the sale, the insider owned 8,638 shares of the company's stock, valued at approximately $1,842,485.40. The trade was a 82.31% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 615,200 shares of company stock valued at $118,022,760 in the last 90 days. 0.56% of the stock is currently owned by corporate insiders.

Key Headlines Impacting Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron’s 20-year deal to supply natural gas for Microsoft’s West Texas AI data center strengthens the company’s role in the AI power buildout and could provide a durable new demand source for Permian gas. Chevron, Microsoft deal fuels West Texas data center expansion
• Positive Sentiment: Market coverage highlights Chevron’s Microsoft partnership as a potential growth platform, with investors increasingly treating natural gas power for AI data centers as a new opportunity for the company. Microsoft Solves AI’s Biggest Bottleneck With Chevron Deal (CVX)
• Neutral Sentiment: Chevron said operations in Venezuela continue after the earthquake, suggesting no immediate disruption there, but the update does not appear to be a major stock-moving development. Update: Market Chatter: Chevron Says Operations in Venezuela Continue After Earthquake
• Negative Sentiment: Trump’s announcement that Exxon Mobil and Chevron are being probed over gasoline pricing has created regulatory overhang and weighed on Big Oil sentiment. Trump says Exxon, Chevron among firms probed as part of surge in gas prices
• Negative Sentiment: Chevron’s CFO acknowledged gasoline prices should ease but warned the pass-through from lower crude prices will take time, reinforcing near-term pressure from public and political scrutiny. Chevron CFO says gas prices will normalize after Trump presses Big Oil

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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