Chevron Corporation $CVX Position Cut by TD Private Client Wealth LLC

Key Points

• TD Private Client Wealth LLC reduced its Chevron stake by 7.5% in the fourth quarter, selling 6,492 shares and leaving it with 80,003 shares valued at about $12.2 million.
• Chevron reported mixed quarterly results: EPS of $1.41 beat estimates, but revenue of $47.56 billion fell short of expectations. Despite that miss, the stock has held up relatively well as investors focus on cash generation and strategy.
• The company continues to reward shareholders, declaring a $1.78 quarterly dividend payable June 10, which equals a 3.7% annualized yield. Chevron also agreed to sell its Singapore refining stake and other Asia-Pacific downstream assets to ENEOS for about $2.17 billion.

TD Private Client Wealth LLC trimmed its stake in Chevron Corporation (NYSE:CVX - Free Report) by 7.5% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 80,003 shares of the oil and gas company's stock after selling 6,492 shares during the quarter. TD Private Client Wealth LLC's holdings in Chevron were worth $12,193,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Strategic Wealth Advisors LLC bought a new stake in Chevron in the fourth quarter valued at $33,000. Daytona Street Capital LLC bought a new stake in shares of Chevron during the fourth quarter valued at about $44,000. Turning Point Benefit Group Inc. bought a new stake in shares of Chevron during the third quarter valued at about $49,000. Maseco LLP bought a new stake in shares of Chevron during the fourth quarter valued at about $49,000. Finally, High Point Wealth Management LLC bought a new stake in shares of Chevron during the fourth quarter valued at about $53,000. 72.42% of the stock is currently owned by institutional investors.

Key Stories Impacting Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron agreed to sell its Singapore refining stake and other Asia-Pacific downstream assets to ENEOS for roughly $2.17 billion, reinforcing its strategy to streamline the portfolio and potentially improve returns. Reuters article on ENEOS buying Chevron assets
• Positive Sentiment: Another report framed Chevron’s recent earnings as less weak than the headline numbers suggested, noting that the company’s share price did not fall sharply after the results, which may indicate investors are focusing on underlying cash generation and strategic actions rather than the revenue miss. Yahoo Finance article on Chevron earnings
• Neutral Sentiment: Market commentary this week also compared Chevron with TotalEnergies and discussed broader oil-sector themes, but those pieces were more about sector positioning than a direct new fundamental change for Chevron. Motley Fool comparison article
• Negative Sentiment: Chevron’s latest quarter was mixed, with earnings per share beating estimates but revenue coming in below expectations, which could temper enthusiasm if investors refocus on operating performance rather than asset sales. Chevron stock background

Chevron Price Performance

Shares of Chevron stock opened at $190.91 on Monday. The company has a current ratio of 1.09, a quick ratio of 0.84 and a debt-to-equity ratio of 0.21. The company's 50-day moving average price is $193.14 and its two-hundred day moving average price is $173.38. Chevron Corporation has a 52 week low of $133.77 and a 52 week high of $214.71. The stock has a market cap of $380.22 billion, a PE ratio of 33.09, a price-to-earnings-growth ratio of 0.64 and a beta of 0.51.

Chevron (NYSE:CVX - Get Free Report) last issued its quarterly earnings results on Friday, May 1st. The oil and gas company reported $1.41 EPS for the quarter, topping the consensus estimate of $1.00 by $0.41. Chevron had a net margin of 5.79% and a return on equity of 6.90%. The firm had revenue of $47.56 billion for the quarter, compared to analysts' expectations of $51.86 billion. During the same period in the previous year, the business earned $2.18 earnings per share. Chevron's revenue for the quarter was up 2.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Chevron Corporation will post 15.43 EPS for the current fiscal year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Shareholders of record on Tuesday, May 19th will be given a $1.78 dividend. The ex-dividend date is Tuesday, May 19th. This represents a $7.12 annualized dividend and a yield of 3.7%. Chevron's payout ratio is 123.40%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on CVX shares. BMO Capital Markets restated an "outperform" rating and set a $190.00 price objective on shares of Chevron in a research note on Monday, February 2nd. Melius Research upgraded shares of Chevron from a "hold" rating to a "buy" rating and set a $205.00 price objective on the stock in a research note on Tuesday, February 17th. Mizuho increased their price objective on shares of Chevron from $206.00 to $217.00 and gave the company an "outperform" rating in a report on Tuesday, March 17th. Bank of America increased their price objective on shares of Chevron from $188.00 to $206.00 and gave the company a "buy" rating in a report on Monday, March 2nd. Finally, HSBC upgraded shares of 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. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $204.13.

Insider Transactions at Chevron

In other Chevron news, CEO Michael K. Wirth sold 272,624 shares of the business's stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $189.35, for a total value of $51,621,354.40. Following the sale, the chief executive officer directly owned 31,266 shares in the company, valued at approximately $5,920,217.10. The trade was a 89.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider R. Hewitt Pate sold 40,200 shares of the business's stock in a transaction dated Monday, March 30th. The stock was sold at an average price of $213.30, for a total transaction of $8,574,660.00. Following the completion of the sale, the insider owned 8,638 shares in the company, valued at approximately $1,842,485.40. This trade represents a 82.31% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 803,570 shares of company stock valued at $151,969,798 in the last quarter. 0.56% of the stock is owned by company insiders.

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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