Chevron Corporation $CVX Shares Purchased by Janney Montgomery Scott LLC

Key Points

• Janney Montgomery Scott LLC increased its Chevron stake by 6.8% in the first quarter, adding 79,439 shares to bring its total to 1,251,102 shares worth about $258.9 million.
• Chevron is getting attention for its AI/data-center power strategy, including expansion beyond Project Kilby and support tied to a Microsoft-linked project, which could create a new growth avenue for the company.
• Despite some near-term pressure from weaker crude prices, analysts remain broadly constructive: multiple firms reiterated or raised targets, and Chevron’s consensus rating stands at Moderate Buy with an average price target of $205.52.

Janney Montgomery Scott LLC grew its position in shares of Chevron Corporation (NYSE:CVX - Free Report) by 6.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,251,102 shares of the oil and gas company's stock after purchasing an additional 79,439 shares during the period. Chevron accounts for about 0.6% of Janney Montgomery Scott LLC's investment portfolio, making the stock its 26th largest position. Janney Montgomery Scott LLC owned about 0.06% of Chevron worth $258,853,000 at the end of the most recent reporting period.

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

Chevron News Roundup

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron is expanding its data-center power strategy beyond Project Kilby, using natural gas to target rising AI-related electricity demand and potentially opening a new growth avenue. Chevron Expands Data Center Power Strategy Beyond Project Kilby
• Positive Sentiment: Chevron secured Texas Pacific Land support for Project Kilby, a large joint initiative with Microsoft, reinforcing execution on a potentially meaningful infrastructure and power project. Chevron Corporation (CVX) Secures Texas Pacific Land Support on Microsoft’s Project Kilby
• Positive Sentiment: Morgan Stanley kept an overweight rating on Chevron while trimming its price target only slightly to $210, signaling continued analyst confidence in upside from current levels. Benzinga report on Morgan Stanley price target cut
• Neutral Sentiment: Several recent articles highlight Chevron’s push deeper into offshore energy and its broader role in a volatile oil market, but these are more about strategy and sector positioning than a clear near-term catalyst. Chevron NYSE: CVX Pushes Deeper Into Offshore Energy
• Neutral Sentiment: Comparisons with Occidental Petroleum and commentary on Chevron’s valuation suggest investors are still weighing CVX’s upside versus peers, but no decisive new fundamental shift was reported. Occidental Petroleum or Chevron: Which Oil Stock Offers More Upside?
• Negative Sentiment: Chevron is being hurt by weaker crude prices, which pressure near-term oil and gas earnings expectations and weigh on sentiment across the sector. Why Is Chevron NYSE: CVX in Focus As Crude Slips?
• Negative Sentiment: Coverage noting that oil prices have fallen back toward pre-Iran-war levels suggests the broader commodity backdrop is less supportive for CVX in the near term. Energy ETFs to Buy as Oil Price Slides to Pre-Iran War Level

Insider Buying and Selling

In related news, Director John B. Hess sold 380,000 shares of the firm's stock in a transaction that occurred on 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 transaction, the director owned 278,045 shares in the company, valued at approximately $53,718,294. This trade represents a 57.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.56% of the company's stock.

Chevron Stock Down 1.4%

Shares of NYSE CVX opened at $168.61 on Tuesday. Chevron Corporation has a 52-week low of $142.40 and a 52-week high of $214.71. The firm has a fifty day moving average of $184.71 and a 200-day moving average of $180.14. The stock has a market capitalization of $335.81 billion, a PE ratio of 29.22, a P/E/G ratio of 0.56 and a beta of 0.48. The company has a quick ratio of 0.84, a current ratio of 1.09 and a debt-to-equity ratio of 0.21.

Chevron (NYSE:CVX - Get Free Report) last issued 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. Chevron had a return on equity of 6.90% and a net margin of 5.79%.The business had revenue of $47.56 billion for the quarter, compared to analyst estimates of $51.86 billion. During the same period last year, the company posted $2.18 EPS. The business's quarterly revenue was up 2.1% on a year-over-year basis. On average, analysts anticipate that Chevron Corporation will post 15.88 EPS for the current year.

Chevron Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Tuesday, May 19th were paid a dividend of $1.78 per share. The ex-dividend date was Tuesday, May 19th. This represents a $7.12 annualized dividend and a yield of 4.2%. Chevron's dividend payout ratio is currently 123.40%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on CVX. The Goldman Sachs Group restated a "buy" rating and set a $216.00 price objective on shares of Chevron in a report on Wednesday, May 6th. Mizuho upped their target price on Chevron from $225.00 to $230.00 and gave the company an "outperform" rating in a research note on Wednesday, May 27th. Royal Bank Of Canada reiterated an "outperform" rating and set a $220.00 target price on shares of Chevron in a research report on Tuesday, May 5th. Barclays raised their price target on Chevron from $192.00 to $213.00 and gave the stock an "equal weight" rating in a research note on Tuesday, May 26th. Finally, HSBC upgraded Chevron from a "hold" rating to a "buy" rating and set a $215.00 price target for the company in a report on Friday, March 20th. Eighteen investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Chevron has a consensus rating of "Moderate Buy" and an average target price of $205.52.

About Chevron

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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