Chevron Corporation $CVX Stock Holdings Trimmed by Calamos Wealth Management LLC

Key Points

• Calamos Wealth Management trimmed its stake in Chevron by 18.0% in Q4, selling 23,378 shares and leaving it with 106,189 shares valued at about $16.18 million; institutional investors now own roughly 72.42% of the company.
• Company insiders have been significant net sellers recently — Vice Chairman Mark A. Nelson sold 139,600 shares (~$26.23M) and R. Hewitt Pate sold 40,200 shares (~$8.57M), with insiders disposing of 779,407 shares (~$145.97M) in the last quarter (insider ownership ~0.56%).
• Analyst sentiment remains broadly favorable with a MarketBeat consensus of “Moderate Buy” and an average target of $198.09 amid multiple upgrades, and Chevron recently raised its quarterly dividend to $1.78 (annualized $7.12, yield ~3.8%).

Calamos Wealth Management LLC lowered its holdings in shares of Chevron Corporation (NYSE:CVX - Free Report) by 18.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 106,189 shares of the oil and gas company's stock after selling 23,378 shares during the period. Calamos Wealth Management LLC's holdings in Chevron were worth $16,184,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in CVX. Perigon Wealth Management LLC grew its holdings in shares of Chevron by 19.3% in the 3rd quarter. Perigon Wealth Management LLC now owns 73,448 shares of the oil and gas company's stock worth $11,406,000 after acquiring an additional 11,875 shares during the last quarter. Dakota Wealth Management grew its holdings in shares of Chevron by 14.9% in the 4th quarter. Dakota Wealth Management now owns 83,265 shares of the oil and gas company's stock worth $12,690,000 after acquiring an additional 10,822 shares during the last quarter. Brooklyn FI LLC acquired a new position in shares of Chevron in the 3rd quarter worth $431,000. New York State Teachers Retirement System grew its holdings in shares of Chevron by 15.3% in the 3rd quarter. New York State Teachers Retirement System now owns 1,620,231 shares of the oil and gas company's stock worth $251,606,000 after acquiring an additional 215,345 shares during the last quarter. Finally, Clear Trail Advisors LLC acquired a new position in shares of Chevron in the 4th quarter worth $10,167,000. Institutional investors own 72.42% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on CVX shares. HSBC upgraded Chevron from a "hold" rating to a "buy" rating and set a $215.00 target price on the stock in a report on Friday, March 20th. Barclays lifted their target price on Chevron from $172.00 to $180.00 and gave the stock an "equal weight" rating in a report on Monday, March 16th. Tudor Pickering raised Chevron from a "hold" rating to a "buy" rating and set a $225.00 target price for the company in a research report on Thursday, April 9th. Bank of America raised their target price on Chevron from $188.00 to $206.00 and gave the stock a "buy" rating in a research report on Monday, March 2nd. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Chevron in a research report on Wednesday, January 21st. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $198.09.

Insider Activity

In related news, Vice Chairman Mark A. Nelson sold 139,600 shares of Chevron stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $187.92, for a total transaction of $26,233,632.00. Following the completion of the sale, the insider owned 11,337 shares of the company's stock, valued at approximately $2,130,449.04. This trade represents a 92.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider R. Hewitt Pate sold 40,200 shares of Chevron stock in a transaction on 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 sale, the insider directly owned 8,638 shares of the company's stock, valued at approximately $1,842,485.40. The trade was a 82.31% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 779,407 shares of company stock valued at $145,972,971. 0.56% of the stock is currently owned by company insiders.

Chevron Stock Performance

Shares of Chevron stock opened at $185.13 on Friday. The stock has a market cap of $368.82 billion, a PE ratio of 27.80, a price-to-earnings-growth ratio of 0.79 and a beta of 0.60. The business has a fifty day simple moving average of $192.56 and a 200-day simple moving average of $170.05. The company has a quick ratio of 0.86, a current ratio of 1.15 and a debt-to-equity ratio of 0.21. Chevron Corporation has a 12 month low of $133.77 and a 12 month high of $214.71.

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

Chevron Increases Dividend

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

Key Headlines Impacting Chevron

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

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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