BXM Wealth LLC Lowers Position in Chevron Corporation $CVX

Key Points

• BXM Wealth LLC sharply reduced its Chevron position by 92.7% in the first quarter, selling 106,540 shares and leaving it with 8,427 shares worth about $1.744 million.
• Chevron reported Q1 EPS of $1.41, beating analyst expectations, even though revenue of $47.56 billion came in below forecasts. Analysts currently have the stock at a Moderate Buy consensus with a target price of $205.52.
• The company recently paid a $1.78 quarterly dividend, equal to an annualized yield of about 4.3%, while insider activity included Director John B. Hess selling 380,000 shares in May.

BXM Wealth LLC cut its stake in shares of Chevron Corporation (NYSE:CVX - Free Report) by 92.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,427 shares of the oil and gas company's stock after selling 106,540 shares during the period. Chevron comprises approximately 1.3% of BXM Wealth LLC's investment portfolio, making the stock its 19th largest holding. BXM Wealth LLC's holdings in Chevron were worth $1,744,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Dakota Wealth Management increased its holdings in shares of Chevron by 14.9% in the fourth quarter. Dakota Wealth Management now owns 83,265 shares of the oil and gas company's stock worth $12,690,000 after purchasing an additional 10,822 shares during the period. Brooklyn FI LLC bought a new stake in Chevron during the third quarter valued at $431,000. Clear Trail Advisors LLC bought a new stake in Chevron during the fourth quarter valued at $10,167,000. Curtis Advisory Group LLC purchased a new position in Chevron during the fourth quarter worth about $1,381,000. Finally, Indivisible Partners purchased a new position in Chevron during the fourth quarter worth about $1,923,000. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Price Performance

Shares of Chevron stock opened at $165.69 on Wednesday. The firm has a market capitalization of $329.99 billion, a PE ratio of 28.72, a price-to-earnings-growth ratio of 0.57 and a beta of 0.48. The company has a current ratio of 1.09, a quick ratio of 0.84 and a debt-to-equity ratio of 0.21. Chevron Corporation has a 12 month low of $142.51 and a 12 month high of $214.71. The business's 50-day moving average price is $184.34 and its 200-day moving average price is $180.24.

Chevron (NYSE:CVX - Get Free Report) last released its earnings results on Friday, May 1st. The oil and gas company reported $1.41 earnings per share for the quarter, topping analysts' consensus estimates of $1.00 by $0.41. The company 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%.Chevron's quarterly 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 EPS. Sell-side analysts forecast that Chevron Corporation will post 15.41 EPS for the current fiscal year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Tuesday, May 19th were paid a dividend of $1.78 per share. The ex-dividend date of this dividend was Tuesday, May 19th. This represents a $7.12 annualized dividend and a dividend yield of 4.3%. Chevron's dividend payout ratio (DPR) is 123.40%.

Analyst Ratings Changes

Several analysts have weighed in on the company. Barclays raised their price target on Chevron from $192.00 to $213.00 and gave the company an "equal weight" rating in a report on Tuesday, May 26th. Zacks Research lowered Chevron from a "strong-buy" rating to a "hold" rating in a report on Monday, June 8th. Morgan Stanley decreased their price objective on shares of Chevron from $214.00 to $210.00 and set an "overweight" rating on the stock in a research report on Monday. Wells Fargo & Company lifted their target price on shares of Chevron from $204.00 to $222.00 and gave the company an "overweight" rating in a research report on Thursday, April 9th. Finally, HSBC raised shares of Chevron from a "hold" rating to a "buy" rating and set a $215.00 price target for the company in a research note on Friday, March 20th. 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 company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $205.52.

Trending Headlines about Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron was highlighted as a reliable income stock with a 4.2% dividend yield, reinforcing its appeal to income-focused investors. This Energy Stock Pays a 4.2% Dividend That You Can Bank On
• Positive Sentiment: Chevron was included among integrated energy stocks expected to benefit from solid oil prices, a stable business mix, and strong midstream operations. 3 Integrated Energy Stocks to Gain From Promising Industry Trend
• Positive Sentiment: Chevron is expanding into data center power projects tied to AI electricity demand, including work beyond Project Kilby, which could create a new growth avenue for its natural gas business. Chevron Expands Data Center Power Strategy Beyond Project Kilby
• Positive Sentiment: Chevron also received attention for securing Texas Pacific Land support for Microsoft’s Project Kilby, signaling progress on a large strategic energy-infrastructure partnership. Chevron Corporation (CVX) Secures Texas Pacific Land Support on Microsoft’s Project Kilby
• Neutral Sentiment: Several recent commentaries focused on Chevron’s positioning in offshore energy and broader oil-and-gas trends, but these pieces were mostly informational rather than directly moving the stock. Chevron NYSE: CVX Pushes Deeper Into Offshore Energy
• Negative Sentiment: Chevron shares came under pressure as energy markets weakened, with lower crude prices and Morgan Stanley’s oil-demand warning weighing on sentiment across the sector. BP, Shell, Chevron shares on edge as Morgan Stanley slashes oil forecast
• Negative Sentiment: A separate analysis suggested Occidental Petroleum may offer more upside than Chevron based on valuation and earnings-growth metrics, which could temper investor enthusiasm for CVX. Occidental Petroleum or Chevron: Which Oil Stock Offers More Upside?

Insider Buying and Selling at Chevron

In other news, Director John B. Hess sold 380,000 shares of the business's stock in a transaction that occurred 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 completion of the sale, 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 position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.56% of the company's stock.

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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