Chevron Corporation $CVX Shares Sold by Bcwm LLC

Key Points

• Bcwm LLC cut its Chevron stake by 29.4% in the fourth quarter, selling 9,870 shares and leaving it with 23,654 shares worth about $3.6 million. Institutional investors still own a large majority of Chevron shares, at 72.42%.
• Chevron reported stronger-than-expected quarterly earnings of $1.41 per share, beating estimates, though revenue came in below consensus at $47.56 billion. The company also posted year-over-year revenue growth of 2.1% and has analysts forecasting 15.74 EPS for the current year.
• The company reaffirmed its shareholder return appeal with a quarterly dividend of $1.78 per share, or $7.12 annualized, for a 3.8% yield. However, the payout ratio is high at 123.40%, and recent insider selling, including a large sale by Director John B. Hess, may draw attention.

Bcwm LLC reduced its position in Chevron Corporation (NYSE:CVX - Free Report) by 29.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 23,654 shares of the oil and gas company's stock after selling 9,870 shares during the quarter. Bcwm LLC's holdings in Chevron were worth $3,605,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in CVX. Core Wealth Advisors LLC acquired a new position in Chevron in the 4th quarter valued at $26,000. Strategic Wealth Advisors LLC acquired a new position in Chevron in the 4th quarter valued at $33,000. Daytona Street Capital LLC acquired a new position in Chevron in the 4th quarter valued at $44,000. Maseco LLP acquired a new position in Chevron in the 4th quarter valued at $49,000. Finally, Turning Point Benefit Group Inc. acquired a new position in Chevron in the 3rd quarter valued at $49,000. 72.42% of the stock is owned by institutional investors and hedge funds.

Chevron Stock Performance

Shares of CVX stock opened at $187.46 on Friday. The firm's 50 day moving average price is $190.66 and its 200-day moving average price is $176.82. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.84 and a current ratio of 1.09. Chevron Corporation has a one year low of $138.09 and a one year high of $214.71. The firm has a market cap of $373.35 billion, a P/E ratio of 32.49, a P/E/G ratio of 0.62 and a beta of 0.48.

Chevron (NYSE:CVX - Get Free Report) last posted its earnings results on Friday, May 1st. The oil and gas company reported $1.41 earnings per share for the quarter, beating 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 during the quarter, compared to the consensus estimate of $51.86 billion. During the same quarter last year, the firm earned $2.18 EPS. The firm's revenue for the quarter was up 2.1% on a year-over-year basis. As a group, equities research analysts predict that Chevron Corporation will post 15.74 EPS for the current year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Tuesday, May 19th will be issued a dividend of $1.78 per share. This represents a $7.12 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date is Tuesday, May 19th. Chevron's dividend payout ratio (DPR) is 123.40%.

Wall Street Analyst Weigh In

Several research firms recently commented on CVX. Scotiabank increased their price objective on Chevron from $168.00 to $187.00 and gave the company a "sector perform" rating in a research note on Wednesday, April 22nd. TD Cowen upped their target price on Chevron from $204.00 to $205.00 and gave the company a "hold" rating in a report on Friday, May 8th. The Goldman Sachs Group restated a "buy" rating and issued a $216.00 target price on shares of Chevron in a report on Wednesday, May 6th. Bank of America upped their target price on Chevron from $188.00 to $206.00 and gave the company a "buy" rating in a report on Monday, March 2nd. Finally, HSBC upgraded Chevron from a "hold" rating to a "buy" rating and set a $215.00 target price for the company in a report on Friday, March 20th. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Chevron has a consensus rating of "Moderate Buy" and a consensus price target of $205.70.

Key Stories Impacting Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Several recent articles highlight Chevron as a durable, low-beta energy name with resilient assets, strong cash flow, and a dependable dividend, which can attract buyers during volatile markets. 4 Best Low-Beta Stocks to Buy Right Away: LQDA, CVX, OXY & VLO
• Positive Sentiment: Chevron has outperformed its industry and sector over the past month, with commentary pointing to dividend growth and 2030 cash flow targets as reasons investors remain constructive. CVX Stock Outpaces Industry in a Month: Should Investors Stay Bullish?
• Positive Sentiment: Oil-stock forecasts remain supportive as conflict-related supply worries keep crude in focus, which tends to benefit Chevron through improved upstream pricing and sector rotation into energy. CVX, XOM and SHEL Forecasts – Oil Stocks in Focus as Conflict Continues
• Positive Sentiment: Street commentary also suggests Chevron is still a long-term hold, with articles calling it an “ultra-safe” dividend stock and saying its long-term prospects remain rosy. Got $3,000? 1 Ultra-Safe Dow Dividend Stock to Buy and Hold Forever
• Neutral Sentiment: Analyst notes show a mixed valuation picture: some targets were lifted modestly, but others say Chevron looks fully valued if oil prices ease, leaving the stock sensitive to commodity assumptions. How The Chevron (CVX) Story Is Shifting With New Analyst Targets And Oil Market Risks
• Negative Sentiment: One recent downgrade argued Chevron could be pressured if an Iran deal or easing geopolitical risk sends oil prices lower, which would reduce the stock’s near-term upside. Chevron Looks Fully Valued As An Iran Deal Could Send Oil Lower (Rating Downgrade)

Insider Transactions at Chevron

In related news, Director John B. Hess sold 380,000 shares of the firm's stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $193.20, for a total transaction of $73,416,000.00. Following the completion of the transaction, the director directly owned 278,045 shares in the company, valued at $53,718,294. This trade represents a 57.75% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider R. Hewitt Pate sold 40,200 shares of the firm's stock in a transaction dated Monday, March 30th. The shares were sold at an average price of $213.30, for a total value of $8,574,660.00. Following the transaction, the insider owned 8,638 shares of the company's stock, valued at $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 have sold a total of 615,200 shares of company stock valued at $118,022,760 over the last 90 days. 0.56% of the stock is currently 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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