Castellan Group Sells 9,140 Shares of Chevron Corporation $CVX

Key Points

• Castellan Group reduced its Chevron stake by 44.5% in the first quarter, selling 9,140 shares and leaving it with 11,381 shares valued at about $2.36 million.
• Chevron continues to draw strong institutional and analyst interest, with institutions owning 72.42% of the stock and analysts maintaining a Moderate Buy consensus alongside an average price target of $205.52.
• The company reported mixed fundamentals: Q1 EPS of $1.41 beat estimates, but revenue came in below expectations, while Chevron also paid a quarterly dividend of $1.78 per share for a 4.3% annualized yield.

Castellan Group cut its stake in shares of Chevron Corporation (NYSE:CVX - Free Report) by 44.5% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 11,381 shares of the oil and gas company's stock after selling 9,140 shares during the quarter. Chevron makes up approximately 0.3% of Castellan Group's holdings, making the stock its 23rd biggest holding. Castellan Group's holdings in Chevron were worth $2,355,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of CVX. Dakota Wealth Management raised 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 valued at $12,690,000 after acquiring an additional 10,822 shares in the last quarter. Brooklyn FI LLC bought a new position in Chevron during the 3rd quarter worth about $431,000. Clear Trail Advisors LLC purchased a new position in Chevron during the 4th quarter valued at about $10,167,000. Curtis Advisory Group LLC purchased a new position in Chevron during the 4th quarter valued at about $1,381,000. Finally, Indivisible Partners purchased a new position in Chevron during the 4th quarter valued at about $1,923,000. 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 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?

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on CVX. Wells Fargo & Company upped their price target on shares of Chevron from $204.00 to $222.00 and gave the stock an "overweight" rating in a research report on Thursday, April 9th. Piper Sandler lifted their price objective on shares of Chevron from $179.00 to $242.00 and gave the company an "overweight" rating in a report on Thursday, March 12th. Scotiabank boosted their price objective 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. Citigroup upped their target price on Chevron from $210.00 to $235.00 and gave the stock a "buy" rating in a report on Thursday, April 2nd. Finally, Zacks Research lowered Chevron from a "strong-buy" rating to a "hold" rating in a report on Monday, June 8th. Eighteen equities research 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, the stock has an average rating of "Moderate Buy" and an average price target of $205.52.

Chevron Stock Performance

CVX stock opened at $165.69 on Wednesday. Chevron Corporation has a one year low of $142.51 and a one year high of $214.71. The firm has a market cap of $329.99 billion, a price-to-earnings ratio of 28.72, a PEG ratio of 0.57 and a beta of 0.48. 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 simple moving average of $184.34 and a two-hundred day simple moving average of $180.24.

Chevron (NYSE:CVX - Get Free Report) last issued its quarterly earnings data on Friday, May 1st. The oil and gas company reported $1.41 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.00 by $0.41. The firm had revenue of $47.56 billion for the quarter, compared to the consensus estimate of $51.86 billion. Chevron had a net margin of 5.79% and a return on equity of 6.90%. The company's quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.18 EPS. On average, equities analysts forecast that Chevron Corporation will post 15.41 EPS for the current fiscal 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 paid a $1.78 dividend. This represents a $7.12 annualized dividend and a yield of 4.3%. The ex-dividend date was Tuesday, May 19th. Chevron's dividend payout ratio (DPR) is 123.40%.

Insider Transactions at Chevron

In other Chevron 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 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. The trade was a 57.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate 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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