Chevron Corporation $CVX Shares Purchased by TrueMark Investments LLC

Key Points

• TrueMark Investments LLC increased its Chevron stake by 123.6% in the first quarter, buying 42,676 additional shares and bringing its total to 77,198 shares valued at about $15.97 million.
• Chevron is drawing attention for a 20-year natural gas supply deal with Microsoft tied to a West Texas AI data center, which investors see as a potentially durable growth opportunity for the company.
• Despite positive analyst sentiment and a quarterly dividend of $1.78 per share (4.1% yield), Chevron faces some pressure from a federal probe into gasoline pricing and recent insider selling, including a large sale by Director John B. Hess.

TrueMark Investments LLC raised its position in Chevron Corporation (NYSE:CVX - Free Report) by 123.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 77,198 shares of the oil and gas company's stock after purchasing an additional 42,676 shares during the quarter. Chevron comprises approximately 3.1% of TrueMark Investments LLC's investment portfolio, making the stock its 2nd biggest holding. TrueMark Investments LLC's holdings in Chevron were worth $15,972,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in CVX. D.B. Root & Company LLC boosted its position in Chevron by 1.0% during the 4th quarter. D.B. Root & Company LLC now owns 5,552 shares of the oil and gas company's stock worth $846,000 after acquiring an additional 57 shares during the period. Fox Hill Wealth Management increased its holdings in shares of Chevron by 1.7% during the fourth quarter. Fox Hill Wealth Management now owns 3,443 shares of the oil and gas company's stock valued at $525,000 after purchasing an additional 57 shares during the period. Cornerstone Planning Group LLC increased its holdings in shares of Chevron by 6.8% during the fourth quarter. Cornerstone Planning Group LLC now owns 930 shares of the oil and gas company's stock valued at $142,000 after purchasing an additional 59 shares during the period. MMA Asset Management LLC raised its stake in shares of Chevron by 3.4% during the fourth quarter. MMA Asset Management LLC now owns 1,820 shares of the oil and gas company's stock valued at $277,000 after purchasing an additional 59 shares in the last quarter. Finally, EWA LLC raised its stake in shares of Chevron by 2.8% during the fourth quarter. EWA LLC now owns 2,182 shares of the oil and gas company's stock valued at $333,000 after purchasing an additional 59 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Key Stories Impacting Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron’s 20-year deal to supply natural gas for Microsoft’s West Texas AI data center strengthens the company’s role in the AI power buildout and could provide a durable new demand source for Permian gas. Chevron, Microsoft deal fuels West Texas data center expansion
• Positive Sentiment: Market coverage highlights Chevron’s Microsoft partnership as a potential growth platform, with investors increasingly treating natural gas power for AI data centers as a new opportunity for the company. Microsoft Solves AI’s Biggest Bottleneck With Chevron Deal (CVX)
• Neutral Sentiment: Chevron said operations in Venezuela continue after the earthquake, suggesting no immediate disruption there, but the update does not appear to be a major stock-moving development. Update: Market Chatter: Chevron Says Operations in Venezuela Continue After Earthquake
• Negative Sentiment: Trump’s announcement that Exxon Mobil and Chevron are being probed over gasoline pricing has created regulatory overhang and weighed on Big Oil sentiment. Trump says Exxon, Chevron among firms probed as part of surge in gas prices
• Negative Sentiment: Chevron’s CFO acknowledged gasoline prices should ease but warned the pass-through from lower crude prices will take time, reinforcing near-term pressure from public and political scrutiny. Chevron CFO says gas prices will normalize after Trump presses Big Oil

Analyst Ratings Changes

A number of brokerages recently issued reports on CVX. Wells Fargo & Company increased their target price on shares of Chevron from $204.00 to $222.00 and gave the company an "overweight" rating in a research report on Thursday, April 9th. Morgan Stanley boosted their price target on shares of Chevron from $212.00 to $214.00 and gave the stock an "overweight" rating in a research report on Friday, May 22nd. Scotiabank upped their price target on shares of Chevron from $168.00 to $187.00 and gave the stock a "sector perform" rating in a research note on Wednesday, April 22nd. Sanford C. Bernstein reduced their price target on shares of Chevron from $216.00 to $204.00 and set a "market perform" rating for the company in a research note on Monday, May 11th. Finally, 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. Eighteen equities research 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. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $205.70.

Chevron Trading Up 0.4%

Shares of CVX stock opened at $172.19 on Friday. The stock has a 50-day simple moving average of $185.38 and a 200 day simple moving average of $179.84. Chevron Corporation has a fifty-two week low of $142.40 and a fifty-two week high of $214.71. The stock has a market capitalization of $342.93 billion, a P/E ratio of 29.84, 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 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. On average, sell-side analysts expect that Chevron Corporation will post 15.88 earnings per share for the current fiscal year.

Chevron Announces Dividend

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

Insider Activity at Chevron

In related news, Director John B. Hess sold 380,000 shares of the stock in a transaction that occurred 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 completion of the sale, the director directly owned 278,045 shares of the company's stock, valued at $53,718,294. This represents a 57.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider R. Hewitt Pate sold 40,200 shares of the firm's stock in a transaction that occurred on 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 sale, the insider owned 8,638 shares of the company's stock, valued at $1,842,485.40. The trade was a 82.31% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 615,200 shares of company stock valued at $118,022,760. Company insiders own 0.56% of the company's stock.

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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