Chevron Corporation $CVX Position Decreased by Bar Harbor Wealth Management

Key Points

• Bar Harbor Wealth Management reduced its Chevron stake by 10.2% in the first quarter, selling 8,401 shares and leaving it with 73,688 shares valued at about $15.25 million.
• Chevron reported Q1 earnings of $1.41 per share, beating analyst expectations, though revenue of $47.56 billion came in below consensus estimates.
• The company also paid a quarterly dividend of $1.78 per share, implying an annualized yield of about 4.1%, while analysts overall maintain a Moderate Buy rating on the stock.

Bar Harbor Wealth Management lowered its holdings in Chevron Corporation (NYSE:CVX - Free Report) by 10.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 73,688 shares of the oil and gas company's stock after selling 8,401 shares during the period. Chevron comprises 0.9% of Bar Harbor Wealth Management's holdings, making the stock its 29th biggest holding. Bar Harbor Wealth Management's holdings in Chevron were worth $15,246,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Core Wealth Advisors LLC acquired a new stake in shares of Chevron during the fourth quarter worth $26,000. Phillip James Consulting Co. acquired a new stake in Chevron during the 4th quarter worth about $26,000. Basso Capital Management L.P. purchased a new stake in Chevron during the fourth quarter valued at about $27,000. Karpus Management Inc. purchased a new stake in Chevron during the fourth quarter valued at about $27,000. Finally, Quattro Advisors LLC acquired a new position in shares of Chevron in the fourth quarter worth about $27,000. 72.42% of the stock is currently owned by institutional investors.

Chevron Stock Performance

Shares of CVX stock opened at $171.73 on Thursday. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.09 and a quick ratio of 0.84. Chevron Corporation has a fifty-two week low of $142.40 and a fifty-two week high of $214.71. The stock's 50-day moving average is $185.68 and its two-hundred day moving average is $179.68. The firm has a market cap of $342.02 billion, a P/E ratio of 29.76, a PEG ratio of 0.58 and a beta of 0.48.

Chevron (NYSE:CVX - Get Free Report) last posted its quarterly 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. Chevron had a return on equity of 6.90% and a net margin of 5.79%.The company had revenue of $47.56 billion during the quarter, compared to the consensus estimate of $51.86 billion. During the same period last year, the business earned $2.18 EPS. The business's quarterly revenue was up 2.1% on a year-over-year basis. Analysts predict that Chevron Corporation will post 15.88 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Tuesday, May 19th were issued a $1.78 dividend. The ex-dividend date was Tuesday, May 19th. This represents a $7.12 dividend on an annualized basis and a yield of 4.1%. Chevron's dividend payout ratio is currently 123.40%.

Trending Headlines about Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron’s 20-year power deal with Microsoft for a large natural-gas-powered data center project is being viewed as a potentially significant new growth platform, opening a long-duration revenue opportunity tied to AI infrastructure. Chevron and Microsoft Partner on Landmark Texas AI Power Project
• Positive Sentiment: Texas Pacific Land’s agreement to provide land and water support for Chevron’s large-scale power project suggests the initiative is moving forward and could strengthen investor confidence in Chevron’s expansion into data-center power. Texas Pacific Land Partners with Chevron on Data Center Project
• Neutral Sentiment: Analyst coverage continues to focus on Chevron’s position versus Shell and other energy peers, keeping attention on the company’s relative valuation and growth profile. Analysts Offer Insights on Energy Companies: Chevron (CVX) and Shell (SHEL)
• Negative Sentiment: Crude oil weakness is pressuring the broader energy group, which can weigh on Chevron’s near-term earnings outlook and sentiment toward the stock. Peabody Energy and Crescent Energy Shares Are Falling, What You Need To Know
• Negative Sentiment: News that President Trump said Chevron is among firms being probed over gasoline-price spikes adds regulatory risk and could raise investor concerns about possible investigations or political pressure. Trump says Exxon, Chevron among firms probed as part of surge in gas prices

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on CVX shares. 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. UBS Group reaffirmed a "buy" rating on shares of Chevron in a research note on Tuesday. Bank of America lifted their price objective on shares of Chevron from $188.00 to $206.00 and gave the stock a "buy" rating in a research report on Monday, March 2nd. Citigroup upped their price target on Chevron from $210.00 to $235.00 and gave the company a "buy" rating in a research report on Thursday, April 2nd. Finally, Morgan Stanley upped their target price on Chevron from $212.00 to $214.00 and gave the company an "overweight" rating in a report on Friday, May 22nd. Eighteen analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued 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 target price of $205.70.

Insider Buying and Selling at Chevron

In other Chevron news, Director John B. Hess sold 380,000 shares of the business's stock in a transaction dated Wednesday, May 20th. The stock was 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 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 at this hyperlink. Also, insider R. Hewitt Pate sold 40,200 shares of the company's 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 sale, the insider owned 8,638 shares of the company's stock, valued at approximately $1,842,485.40. This trade represents a 82.31% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 615,200 shares of company stock worth $118,022,760 over the last three months. Company 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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