Brown Advisory Inc. Grows Position in Chevron Corporation $CVX

Key Points

• Brown Advisory Inc. increased its Chevron stake by 4.7% in the fourth quarter, adding 10,645 shares and bringing its total holding to 235,633 shares valued at about $35.9 million.
• Insiders have been selling shares, including Director John B. Hess and insider R. Hewitt Pate, with total insider sales reaching 615,200 shares worth $118.0 million over the last quarter.
• Chevron beat quarterly earnings expectations with EPS of $1.41 versus $1.00 expected, but revenue came in below estimates; meanwhile, the company paid a $1.78 quarterly dividend yielding 3.9% and analysts hold a consensus “Moderate Buy” rating with a $205.70 target.

Brown Advisory Inc. raised its position in shares of Chevron Corporation (NYSE:CVX - Free Report) by 4.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 235,633 shares of the oil and gas company's stock after buying an additional 10,645 shares during the quarter. Brown Advisory Inc.'s holdings in Chevron were worth $35,913,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Core Wealth Advisors LLC purchased a new position in shares of Chevron in the 4th quarter worth approximately $26,000. Karpus Management Inc. purchased a new position in shares of Chevron in the 4th quarter worth approximately $27,000. Quattro Advisors LLC purchased a new position in shares of Chevron in the 4th quarter worth approximately $27,000. Strategic Wealth Advisors LLC purchased a new position in shares of Chevron in the 4th quarter worth approximately $33,000. Finally, Daytona Street Capital LLC purchased a new position in shares of Chevron in the 4th quarter worth approximately $44,000. Hedge funds and other institutional investors own 72.42% of the company's stock.

Trending Headlines about Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron’s long-term growth outlook could improve if its newly expanded asset base from the Hess acquisition and upcoming projects in Argentina boost production and cash generation. Chevron Stock Is an Absolute Steal at 11 Times Forward Earnings
• Positive Sentiment: Some analysts still view CVX as attractively valued and have price targets above the current share price, suggesting upside if oil stabilizes. Chevron (CVX) Stock Sinks As Market Gains: Here's Why
• Neutral Sentiment: Commentary from Jim Cramer highlighted Chevron during broader geopolitical discussions, but it did not point to any company-specific catalyst. Jim Cramer Discusses Chevron During Presidential War Related Talks
• Neutral Sentiment: Chevron’s Argentina investment push could reshape its growth profile over time, but the market appears focused today on oil’s sharp decline rather than this longer-term development. Chevron’s Argentina Push Reshapes Growth Outlook And Risk Profile
• Negative Sentiment: Crude prices fell to three-month lows on the U.S.-Iran deal news, pressuring integrated oil producers like Chevron as investors reduced expectations for near-term upstream profits and free cash flow. Oil Prices Slump to 3-Month Lows, Exxon and Chevron Stocks Fall After U.S., Iran Deal
• Negative Sentiment: Multiple reports said Chevron fell alongside the broader energy sector because the market expects lower crude realizations if geopolitical supply risks ease. Oil Prices Slump to 3-Month Lows, Exxon and Chevron Stocks Fall After U.S., Iran Deal

Insider Buying and Selling at Chevron

In other Chevron news, insider R. Hewitt Pate sold 40,200 shares of the company's stock in a transaction on Monday, March 30th. The stock was sold at an average price of $213.30, for a total value of $8,574,660.00. Following the completion of the sale, the insider directly owned 8,638 shares in the company, valued at approximately $1,842,485.40. This represents a 82.31% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John B. Hess sold 380,000 shares of the company's stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $193.20, for a total value of $73,416,000.00. Following the completion of the sale, the director owned 278,045 shares of the company's stock, valued at $53,718,294. This represents a 57.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 615,200 shares of company stock valued at $118,022,760 over the last quarter. Company insiders own 0.56% of the company's stock.

Wall Street Analysts Forecast Growth

CVX has been the subject of a number of recent research reports. Bank of America lifted their target price on Chevron from $188.00 to $206.00 and gave the stock a "buy" rating in a report on Monday, March 2nd. TD Cowen boosted their price objective on Chevron from $204.00 to $205.00 and gave the company a "hold" rating in a report on Friday, May 8th. HSBC upgraded Chevron from a "hold" rating to a "buy" rating and set a $215.00 price objective for the company in a report on Friday, March 20th. Weiss Ratings cut Chevron from a "hold (c+)" rating to a "hold (c)" rating in a report on Tuesday, June 2nd. Finally, Zacks Research cut Chevron from a "strong-buy" rating to a "hold" rating in a report on Monday, June 8th. Eighteen investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $205.70.

Chevron Price Performance

CVX opened at $180.49 on Tuesday. The business has a fifty day moving average of $188.38 and a 200 day moving average of $178.49. Chevron Corporation has a 52-week low of $142.40 and a 52-week high of $214.71. 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 stock has a market cap of $359.47 billion, a P/E ratio of 31.28, a PEG ratio of 0.61 and a beta of 0.48.

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 (EPS) for the quarter, beating analysts' consensus estimates of $1.00 by $0.41. Chevron had a return on equity of 6.90% and a net margin of 5.79%.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 earned $2.18 EPS. Chevron's revenue was up 2.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Chevron Corporation will post 15.88 EPS for the current year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Tuesday, May 19th were issued a $1.78 dividend. This represents a $7.12 annualized dividend and a dividend yield of 3.9%. The ex-dividend date was Tuesday, May 19th. Chevron's dividend payout ratio is currently 123.40%.

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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