Chevron Corporation $CVX Position Reduced by Huntleigh Advisors Inc.

Key Points

• Huntleigh Advisors cut its Chevron stake by 83%, selling 14,135 shares and leaving 2,887 shares valued at about $440,000 at quarter-end.
• Analysts' consensus on Chevron is a Moderate Buy with an average price target of approximately $198.09.
• Chevron raised its quarterly dividend to $1.78 (annualized $7.12, ~3.8% yield), even as insiders have sold roughly 779,407 shares (about $146M) over the past 90 days.

Huntleigh Advisors Inc. decreased its position in shares of Chevron Corporation (NYSE:CVX - Free Report) by 83.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,887 shares of the oil and gas company's stock after selling 14,135 shares during the period. Huntleigh Advisors Inc.'s holdings in Chevron were worth $440,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in CVX. Decker Retirement Planning Inc. bought a new stake in shares of Chevron in the 3rd quarter worth $34,000. Marquette Asset Management LLC acquired a new stake in shares of Chevron in the third quarter valued at $41,000. Barnes Dennig Private Wealth Management LLC boosted its stake in Chevron by 306.1% during the third quarter. Barnes Dennig Private Wealth Management LLC now owns 268 shares of the oil and gas company's stock valued at $42,000 after buying an additional 202 shares in the last quarter. Daytona Street Capital LLC bought a new position in Chevron during the fourth quarter valued at about $44,000. Finally, Maseco LLP acquired a new position in Chevron during the fourth quarter worth about $49,000. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on CVX shares. Wall Street Zen upgraded shares of Chevron from a "sell" rating to a "hold" rating in a research report on Saturday, January 31st. UBS Group restated a "buy" rating and set a $212.00 price objective on shares of Chevron in a research report on Monday, February 2nd. Zacks Research raised shares of Chevron from a "hold" rating to a "strong-buy" rating in a research note on Friday, April 3rd. Sanford C. Bernstein boosted their target price on shares of Chevron from $170.00 to $172.00 and gave the stock a "market perform" rating in a report on Monday, January 5th. Finally, BMO Capital Markets reissued an "outperform" rating and set a $190.00 target price on shares of Chevron in a research note on Monday, February 2nd. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, five have given a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $198.09.

More Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Wheatstone LNG has fully resumed production after cyclone repairs, restoring expected cash flow from the Australian LNG asset and removing a short-term production drag. Chevron resumes full production at Wheatstone LNG after repairs for cyclone damage
• Positive Sentiment: Chevron says it reached an asset-swap agreement that expands its stake in Venezuelan heavy oil operations — a move that could lift reserves and long-term production potential if implemented. Chevron Corporation (CVX) Expands Stakes in Venezuela Oil Operations
• Positive Sentiment: Warren Buffett’s ongoing stake and commentary on Chevron continue to be cited as a vote of confidence for long-term investors, supporting sentiment versus peers. Deepening Growth Pipeline Sustains Warren Buffett’s Confidence In Chevron (CVX)
• Positive Sentiment: Zacks has highlighted Chevron as a Bull of the Day and it's included in lists of high-flying "old economy" stocks with room to run — analyst attention can help prop up demand in a pullback. Chevron and Avis Budget have been highlighted as Zacks Bull and Bear of the Day
• Neutral Sentiment: Chevron is a trending stock with increased retail and analyst attention; that raises liquidity and volatility but is ambivalent for direction without fresh catalysts. Chevron Corporation (CVX) Is a Trending Stock: Facts to Know Before Betting on It
• Negative Sentiment: Venezuelan partner Suelopetrol says it was not informed of Chevron’s reported expansion — a public dispute that raises execution, legal and geopolitical risk around the asset-swap and could delay realization of the announced upside. Suelopetrol says it has not been Informed of Chevron’s (CVX) Expansion at Venezuela Joint Venture
• Negative Sentiment: Zacks preview flags an expected decline in Q1 earnings, which raises the risk of a disappointing release and near-term downside if results or guidance miss. Earnings Preview: Chevron (CVX) Q1 Earnings Expected to Decline
• Negative Sentiment: After a strong YTD rally, articles note a month-long cooldown and profit-taking in big oil names; that broader flow explains part of today’s pullback even without company-specific bad news. Exxon Stock and Chevron Stock Are Up 20%+ YTD – Why the Long Oil Trade Is Stalling Out

Chevron Stock Down 0.0%

Shares of Chevron stock opened at $185.13 on Monday. Chevron Corporation has a 12-month low of $133.77 and a 12-month high of $214.71. The firm has a market capitalization of $368.82 billion, a PE ratio of 27.80, a price-to-earnings-growth ratio of 0.78 and a beta of 0.60. The company has a quick ratio of 0.86, a current ratio of 1.15 and a debt-to-equity ratio of 0.21. The stock's fifty day moving average is $192.56 and its 200-day moving average is $170.28.

Chevron (NYSE:CVX - Get Free Report) last released its quarterly earnings results on Friday, January 30th. The oil and gas company reported $1.52 earnings per share for the quarter, beating analysts' consensus estimates of $1.44 by $0.08. The business had revenue of $45.79 billion during the quarter, compared to analyst estimates of $48.18 billion. Chevron had a return on equity of 7.89% and a net margin of 6.51%.Chevron's revenue for the quarter was down 10.2% on a year-over-year basis. During the same quarter last year, the company posted $2.06 EPS. Equities analysts anticipate that Chevron Corporation will post 12.49 earnings per share for the current year.

Chevron Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 10th. Shareholders of record on Tuesday, February 17th were issued a $1.78 dividend. The ex-dividend date was Tuesday, February 17th. This is a positive change from Chevron's previous quarterly dividend of $1.71. This represents a $7.12 annualized dividend and a dividend yield of 3.8%. Chevron's dividend payout ratio is 106.91%.

Insiders Place Their Bets

In other news, insider R. Hewitt Pate sold 58,000 shares of Chevron stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $188.65, for a total value of $10,941,700.00. Following the transaction, the insider directly owned 8,558 shares of the company's stock, valued at $1,614,466.70. This trade represents a 87.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Eimear P. Bonner sold 32,100 shares of the company's stock in a transaction that occurred on Friday, January 30th. The shares were sold at an average price of $175.01, for a total transaction of $5,617,821.00. Following the completion of the sale, the chief financial officer owned 4,366 shares of the company's stock, valued at approximately $764,093.66. This trade represents a 88.03% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 779,407 shares of company stock valued at $145,972,971 over the last 90 days. 0.56% of the stock is owned by corporate insiders.

Chevron Company 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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