Chevron Corporation $CVX Holdings Boosted by Virginia Wealth Management Group Inc.

Key Points

• Virginia Wealth Management Group increased its Chevron stake by 35.6% in the first quarter, buying 9,155 more shares and bringing its total to 34,839 shares worth about $7.2 million. Chevron is now its second-largest holding and makes up roughly 3.9% of the portfolio.
• Chevron’s latest earnings beat analyst expectations, posting $1.41 EPS versus the $1.00 consensus, even though revenue of $47.56 billion came in below forecasts. Analysts still expect the company to generate 15.28 EPS for the full fiscal year.
• The company continues to attract income investors with a 4.0% dividend yield, but its payout ratio is high at 123.4%. Recent headlines also point to support from higher oil prices, geopolitical tensions, and a new technology-sharing move to boost shale output.

Virginia Wealth Management Group Inc. increased its holdings in Chevron Corporation (NYSE:CVX - Free Report) by 35.6% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 34,839 shares of the oil and gas company's stock after buying an additional 9,155 shares during the period. Chevron comprises approximately 3.9% of Virginia Wealth Management Group Inc.'s investment portfolio, making the stock its 2nd biggest holding. Virginia Wealth Management Group Inc.'s holdings in Chevron were worth $7,208,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of CVX. United Bank boosted its position in Chevron by 7.7% during the second quarter. United Bank now owns 11,079 shares of the oil and gas company's stock valued at $1,586,000 after purchasing an additional 796 shares in the last quarter. Schnieders Capital Management LLC. raised its holdings in Chevron by 9.0% in the second quarter. Schnieders Capital Management LLC. now owns 50,839 shares of the oil and gas company's stock worth $7,280,000 after purchasing an additional 4,214 shares in the last quarter. BNP Paribas raised its holdings in Chevron by 76.4% in the second quarter. BNP Paribas now owns 441 shares of the oil and gas company's stock worth $63,000 after purchasing an additional 191 shares in the last quarter. Osterweis Capital Management Inc. lifted its position in shares of Chevron by 678.9% during the second quarter. Osterweis Capital Management Inc. now owns 1,363 shares of the oil and gas company's stock valued at $195,000 after buying an additional 1,188 shares during the last quarter. Finally, Main Street Financial Solutions LLC lifted its position in shares of Chevron by 3.6% during the second quarter. Main Street Financial Solutions LLC now owns 16,052 shares of the oil and gas company's stock valued at $2,299,000 after buying an additional 553 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company's stock.

Chevron Stock Performance

CVX opened at $175.89 on Thursday. The company has a market cap of $350.31 billion, a P/E ratio of 30.48, a price-to-earnings-growth ratio of 0.59 and a beta of 0.50. 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's 50-day moving average price is $182.51 and its 200-day moving average price is $181.14. Chevron Corporation has a 52-week low of $146.49 and a 52-week high of $214.71.

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 the consensus estimate of $1.00 by $0.41. The company 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%. Chevron's 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. As a group, equities analysts anticipate that Chevron Corporation will post 15.28 EPS for the current fiscal year.

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Tuesday, May 19th were paid a dividend of $1.78 per share. This represents a $7.12 annualized dividend and a dividend yield of 4.0%. The ex-dividend date was Tuesday, May 19th. Chevron's payout ratio is presently 123.40%.

Key Headlines Impacting Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron stock is benefiting from a jump in oil prices, which boosts expected upstream earnings and improves sentiment across the energy sector. Why Is Chevron Stock Gaining Wednesday?
• Positive Sentiment: Rising geopolitical tensions and the unraveling of the U.S.–Iran ceasefire have pushed crude and risk premiums higher, giving integrated oil names like Chevron a lift. Ceasefire Cracks, Oil Bounces: Why Exxon, Chevron Stocks Are Hot Again
• Positive Sentiment: Chevron announced it will offer rival drillers access to its chemical technology to help boost shale output, reinforcing its role in U.S. energy production and potentially creating a new commercialization opportunity. Chevron offers rival drillers its chemical technology to boost shale oil output
• Positive Sentiment: Chevron remains in focus for investors seeking dependable income, with articles highlighting its attractive dividend yield and its status as a preferred blue-chip energy holding. Chevron (CVX) – Among the 14 Best Blue Chip Dividend Stocks to Buy According to Hedge Funds
• Neutral Sentiment: Market commentary also notes Chevron’s stock has held up despite recent index removal and continuing debate over valuation, Guyana growth, and cash-flow durability. Chevron (CVX) Following Index Removal And Guyana Upgrades, Is The Valuation Case Intact?
• Neutral Sentiment: Coverage around Chevron’s AI-related energy demand exposure and a new technology licensing agreement with ZL Chemicals adds longer-term strategic interest, but these headlines are less likely to drive near-term trading than oil prices. Chevron NYSE: CVX Powers AI Demand Across Energy Markets Chevron, ZL Chemicals sign technology licensing agreement
• Negative Sentiment: Chevron also faced a negative operational headline after one of its tankers used for CPC shipments was reportedly hit by a drone in the Black Sea, which could raise transportation and geopolitical risk concerns. Chevron tanker used for CPC oil hit by drone in Black Sea

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $216.00 price objective on shares of Chevron in a research report on Wednesday, May 6th. Tudor Pickering raised shares of Chevron from a "hold" rating to a "buy" rating and set a $225.00 target price for the company in a research report on Thursday, April 9th. Royal Bank Of Canada restated an "outperform" rating and issued a $220.00 target price on shares of Chevron in a research note on Tuesday, May 5th. Scotiabank lifted their price target on shares of Chevron from $168.00 to $187.00 and gave the stock a "sector perform" rating in a report on Wednesday, April 22nd. Finally, Sanford C. Bernstein reduced their price target on Chevron from $216.00 to $204.00 and set a "market perform" rating on the stock in a research report on Monday, May 11th. Nineteen research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Chevron presently has a consensus rating of "Moderate Buy" and a consensus target price of $205.71.

Insider Activity at Chevron

In other news, Director John B. Hess sold 380,000 shares of the business's stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $193.20, for a total transaction of $73,416,000.00. Following the sale, the director directly owned 278,045 shares of the company's stock, valued at $53,718,294. The trade was a 57.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available 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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