Cerity Partners LLC Sells 81,432 Shares of Chevron Corporation $CVX

Key Points

• Cerity Partners LLC reduced its Chevron stake by 6.3% in the fourth quarter, selling 81,432 shares and ending with 1.2 million shares valued at about $183.6 million.
• Insider selling has also been notable, with R. Hewitt Pate and Director John B. Hess both selling large blocks of stock; insiders sold 615,200 shares worth roughly $118 million last quarter.
• Chevron’s fundamentals and outlook remain supported by a recent earnings beat, a quarterly dividend of $1.78 per share, and bullish analyst sentiment, with Wall Street’s consensus rating at “Moderate Buy” and an average price target of $205.70.

Cerity Partners LLC cut its stake in Chevron Corporation (NYSE:CVX - Free Report) by 6.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,204,393 shares of the oil and gas company's stock after selling 81,432 shares during the period. Cerity Partners LLC owned about 0.06% of Chevron worth $183,562,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Core Wealth Advisors LLC bought a new position in shares of Chevron in the fourth quarter worth about $26,000. Strategic Wealth Advisors LLC bought a new position in shares of Chevron in the fourth quarter worth about $33,000. Daytona Street Capital LLC bought a new position in shares of Chevron in the fourth quarter worth about $44,000. Turning Point Benefit Group Inc. bought a new position in shares of Chevron in the third quarter worth about $49,000. Finally, Maseco LLP bought a new position in shares of Chevron in the fourth quarter worth about $49,000. 72.42% of the stock is currently owned by institutional investors.

Insider Activity

In other Chevron news, insider R. Hewitt Pate sold 40,200 shares of Chevron stock in a transaction dated 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 transaction, the insider owned 8,638 shares in the company, valued at $1,842,485.40. The trade was a 82.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John B. Hess sold 380,000 shares of Chevron stock in a transaction dated 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 transaction, the director owned 278,045 shares in the company, valued at $53,718,294. This trade represents a 57.75% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 615,200 shares of company stock worth $118,022,760 in the last quarter. 0.56% of the stock is owned by insiders.

Key Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Analysts and market commentary are pointing to Chevron as a strong long-term buy, citing its scale, integrated business model, and durable cash generation. Why Chevron (CVX) is a Top Stock for the Long-Term
• Positive Sentiment: Chevron was also highlighted as one of the better energy dividend stocks for income investors, with its payout seen as dependable amid oil-price volatility. Want Income? Buy These 3 Top Energy Dividend Stocks Now
• Positive Sentiment: Recent coverage of Chevron’s first-quarter results emphasized a 24% jump in U.S. production and $6 billion returned to shareholders through dividends and buybacks, reinforcing the company’s cash-return story. Q1 Results Are In: Chevron Boosted U.S. Production 24% and Returned $6 Billion to Shareholders. Is CVX Stock a Buy Now?
• Neutral Sentiment: Chevron was included in a Zacks analyst roundup alongside Micron and Quanta Services as a market idea, but the mention was broad and not tied to a fresh company-specific catalyst. The Zacks Analyst Blog Highlights Micron, Chevron and Quanta Services
• Neutral Sentiment: Other energy-sector pieces discussed oil pricing, LNG disruptions, and peers like Exxon Mobil and Matador, which frame the backdrop for Chevron but do not directly change the company’s outlook. Is XOM Worth Betting on at its Premium Price or Should Investors Wait?

Chevron Trading Up 1.0%

Shares of NYSE CVX opened at $189.18 on Tuesday. The business has a fifty day moving average price of $190.29 and a 200 day moving average price of $177.22. Chevron Corporation has a 1-year low of $139.68 and a 1-year high of $214.71. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.09 and a quick ratio of 0.84. The stock has a market capitalization of $376.77 billion, a P/E ratio of 32.79, a price-to-earnings-growth ratio of 0.62 and a beta of 0.48.

Chevron (NYSE:CVX - Get Free Report) last posted its earnings results on Friday, May 1st. The oil and gas company reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $51.86 billion. During the same quarter in the previous year, the firm earned $2.18 earnings per share. The firm's quarterly revenue was up 2.1% compared to the same quarter last year. Equities research analysts expect that Chevron Corporation will post 15.74 EPS for the current fiscal year.

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Shareholders of record on Tuesday, May 19th will be paid a $1.78 dividend. This represents a $7.12 annualized dividend and a yield of 3.8%. The ex-dividend date is Tuesday, May 19th. Chevron's payout ratio is 123.40%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on CVX. Royal Bank Of Canada restated an "outperform" rating and issued a $220.00 price objective on shares of Chevron in a report on Tuesday, May 5th. The Goldman Sachs Group reiterated a "buy" rating and set a $216.00 target price on shares of Chevron in a report on Wednesday, May 6th. Weiss Ratings downgraded shares of Chevron from a "hold (c+)" rating to a "hold (c)" rating in a research report on Tuesday, June 2nd. BNP Paribas Exane raised shares of Chevron from a "neutral" rating to an "outperform" rating and set a $174.00 target price on the stock in a research report on Friday, April 17th. Finally, Melius Research raised shares of Chevron from a "hold" rating to a "buy" rating and set a $205.00 target price on the stock in a research report on Tuesday, February 17th. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $205.70.

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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