Chevron Corporation $CVX Shares Sold by Staley Capital Advisers Inc.

Key Points

• Staley Capital Advisers Inc. cut its Chevron stake by 2.1% in the first quarter, selling 8,373 shares and leaving it with 389,993 shares worth about $80.7 million. Chevron remains a major holding for the firm, making up 3.4% of its portfolio.
• Chevron reported Q1 earnings of $1.41 per share, beating estimates, though revenue of $47.56 billion came in below expectations. The company also paid a quarterly dividend of $1.78 per share, equal to a 4.0% annualized yield.
• Analyst sentiment on Chevron is generally positive: recent upgrades from firms like Wolfe Research and Citigroup helped keep the consensus rating at Moderate Buy with an average price target of $205.71. The stock is also benefiting from higher oil prices and geopolitical tensions, which have lifted energy-sector sentiment.

Staley Capital Advisers Inc. trimmed its stake in shares of Chevron Corporation (NYSE:CVX - Free Report) by 2.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 389,993 shares of the oil and gas company's stock after selling 8,373 shares during the quarter. Chevron comprises approximately 3.4% of Staley Capital Advisers Inc.'s investment portfolio, making the stock its 7th biggest position. Staley Capital Advisers Inc.'s holdings in Chevron were worth $80,689,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of CVX. Compton Financial Group LLC lifted its stake in shares of Chevron by 1.9% during the 1st quarter. Compton Financial Group LLC now owns 2,944 shares of the oil and gas company's stock worth $609,000 after buying an additional 56 shares during the last quarter. Quantum Portfolio Management LLC grew its stake in Chevron by 2.7% in the 1st quarter. Quantum Portfolio Management LLC now owns 2,101 shares of the oil and gas company's stock valued at $435,000 after buying an additional 56 shares during the last quarter. D.B. Root & Company LLC grew its stake in Chevron by 1.0% in the 4th quarter. D.B. Root & Company LLC now owns 5,552 shares of the oil and gas company's stock valued at $846,000 after buying an additional 57 shares during the last quarter. Chatterton & Associates Inc. raised its holdings in Chevron by 1.7% in the 1st quarter. Chatterton & Associates Inc. now owns 3,427 shares of the oil and gas company's stock valued at $652,000 after acquiring an additional 57 shares during the period. Finally, First United Bank & Trust raised its holdings in Chevron by 0.5% in the 1st quarter. First United Bank & Trust now owns 12,532 shares of the oil and gas company's stock valued at $2,593,000 after acquiring an additional 57 shares during the period. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Chevron Price Performance

Shares of NYSE:CVX opened at $175.89 on Thursday. The firm has a 50 day moving average of $182.51 and a 200-day moving average of $181.14. The stock has a market capitalization of $350.31 billion, a PE ratio of 30.48, a PEG ratio of 0.59 and a beta of 0.50. The company has a current ratio of 1.09, a quick ratio of 0.84 and a debt-to-equity ratio of 0.21. Chevron Corporation has a 12 month low of $146.49 and a 12 month high of $214.71.

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 (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 business had revenue of $47.56 billion for the quarter, compared to analyst estimates of $51.86 billion. During the same quarter last year, the business posted $2.18 EPS. The firm's revenue for the quarter was up 2.1% on a year-over-year basis. On average, equities research analysts predict that Chevron Corporation will post 15.28 EPS for the current fiscal year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Tuesday, May 19th were issued a dividend of $1.78 per share. The ex-dividend date of this dividend was Tuesday, May 19th. This represents a $7.12 dividend on an annualized basis and a dividend yield of 4.0%. Chevron's payout ratio is 123.40%.

Insider Buying and Selling 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 value of $73,416,000.00. Following the sale, the director directly owned 278,045 shares of the company's stock, valued at $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 available through this link. 0.56% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on CVX shares. Wolfe Research upgraded Chevron from a "peer perform" rating to an "outperform" rating and set a $210.00 price objective for the company in a report on Thursday, July 2nd. TD Cowen lifted their price target on Chevron from $204.00 to $205.00 and gave the stock a "hold" rating in a report on Friday, May 8th. BNP Paribas Exane upgraded Chevron from a "neutral" rating to an "outperform" rating and set a $174.00 price target for the company in a research note on Friday, April 17th. Citigroup upped their price objective on Chevron from $210.00 to $235.00 and gave the company a "buy" rating in a report on Thursday, April 2nd. Finally, Wells Fargo & Company lifted their target price on Chevron from $204.00 to $222.00 and gave the stock an "overweight" rating in a report on Thursday, April 9th. Nineteen investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Chevron has an average rating of "Moderate Buy" and a consensus price target of $205.71.

Key Headlines Impacting Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron stock is benefiting from a jump in oil prices, which boosts expected upstream earnings and improves sentiment across the energy sector. Why Is Chevron Stock Gaining Wednesday?
• Positive Sentiment: Rising geopolitical tensions and the unraveling of the U.S.–Iran ceasefire have pushed crude and risk premiums higher, giving integrated oil names like Chevron a lift. Ceasefire Cracks, Oil Bounces: Why Exxon, Chevron Stocks Are Hot Again
• Positive Sentiment: Chevron announced it will offer rival drillers access to its chemical technology to help boost shale output, reinforcing its role in U.S. energy production and potentially creating a new commercialization opportunity. Chevron offers rival drillers its chemical technology to boost shale oil output
• Positive Sentiment: Chevron remains in focus for investors seeking dependable income, with articles highlighting its attractive dividend yield and its status as a preferred blue-chip energy holding. Chevron (CVX) – Among the 14 Best Blue Chip Dividend Stocks to Buy According to Hedge Funds
• Neutral Sentiment: Market commentary also notes Chevron’s stock has held up despite recent index removal and continuing debate over valuation, Guyana growth, and cash-flow durability. Chevron (CVX) Following Index Removal And Guyana Upgrades, Is The Valuation Case Intact?
• Neutral Sentiment: Coverage around Chevron’s AI-related energy demand exposure and a new technology licensing agreement with ZL Chemicals adds longer-term strategic interest, but these headlines are less likely to drive near-term trading than oil prices. Chevron NYSE: CVX Powers AI Demand Across Energy Markets Chevron, ZL Chemicals sign technology licensing agreement
• Negative Sentiment: Chevron also faced a negative operational headline after one of its tankers used for CPC shipments was reportedly hit by a drone in the Black Sea, which could raise transportation and geopolitical risk concerns. Chevron tanker used for CPC oil hit by drone in Black Sea

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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