Chevron Corporation $CVX Stock Position Lowered by Edgestream Partners L.P.

Key Points

• Edgestream Partners cut its Chevron position by 50.3% in the first quarter, selling 13,595 shares and retaining 13,453 shares valued at approximately $2.8 million. Institutional investors still own 72.42% of Chevron’s outstanding stock.
• Chevron reported a strong quarter, with earnings of $6.06 per share beating estimates of $5.55 and revenue rising 57.4% year over year to $67.2 billion. The company maintained its quarterly dividend at $1.78, equivalent to a 3.6% annual yield.
• Analysts maintain a generally positive outlook, giving Chevron a “Moderate Buy” consensus rating and an average price target of $207.17, though geopolitical risks, potential policy intervention and valuation concerns remain.

Edgestream Partners L.P. decreased its position in Chevron Corporation (NYSE:CVX - Free Report) by 50.3% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 13,453 shares of the oil and gas company's stock after selling 13,595 shares during the period. Edgestream Partners L.P.'s holdings in Chevron were worth $2,783,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CVX. Midwest Capital Advisors LLC acquired a new stake in shares of Chevron in the first quarter worth $25,000. Core Wealth Advisors LLC acquired a new position in Chevron during the fourth quarter valued at $26,000. Phillip James Consulting Co. purchased a new stake in Chevron in the 4th quarter worth about $26,000. Basso Capital Management L.P. purchased a new stake in Chevron in the 4th quarter worth about $27,000. Finally, Karpus Management Inc. acquired a new stake in Chevron during the 4th quarter worth about $27,000. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Chevron Trading Up 2.5%

Shares of CVX stock opened at $197.10 on Friday. Chevron Corporation has a 12 month low of $146.49 and a 12 month high of $214.71. The company has a quick ratio of 0.84, a current ratio of 1.09 and a debt-to-equity ratio of 0.21. The business's 50 day moving average is $181.95 and its two-hundred day moving average is $184.96. The company has a market cap of $392.55 billion, a PE ratio of 18.90, a price-to-earnings-growth ratio of 0.61 and a beta of 0.50.

Chevron (NYSE:CVX - Get Free Report) last released its quarterly earnings results on Friday, July 31st. The oil and gas company reported $6.06 EPS for the quarter, beating analysts' consensus estimates of $5.55 by $0.51. Chevron had a net margin of 5.79% and a return on equity of 6.90%. The company had revenue of $67.20 billion for the quarter, compared to analyst estimates of $62.72 billion. During the same quarter last year, the firm posted $1.77 earnings per share. The company's quarterly revenue was up 57.4% compared to the same quarter last year. Equities analysts predict that Chevron Corporation will post 15.64 EPS for the current year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Wednesday, August 19th will be issued a $1.78 dividend. This represents a $7.12 annualized dividend and a yield of 3.6%. The ex-dividend date is Wednesday, August 19th. Chevron's dividend payout ratio (DPR) is 123.40%.

More Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Strong earnings beat: Chevron reported adjusted earnings of $12.0 billion, or $6.06 per diluted share, versus analysts’ expectation of $5.55. Reported earnings reached $12.1 billion, the company’s highest quarterly profit in at least six years, while revenue rose 57.4% year over year to $67.2 billion. Chevron records highest quarterly profit in six years, tops estimates
• Positive Sentiment: Higher production and refining performance: Global oil-equivalent production increased 20% to 4.07 million barrels per day, supported by Hess-related assets, the Permian Basin and the Gulf of America. Record U.S. production, strong refining margins and near-full-capacity operations boosted results. CVX Q2 Earnings Beat on Higher Output and Strong Refining Margins
• Positive Sentiment: Excellent cash generation and growth opportunities: Operating cash flow was $22.6 billion, and Chevron maintained its $1.78 quarterly dividend. Management also highlighted expansion plans involving Iraq, Venezuela, Argentina and a 20-year power agreement to supply a Microsoft data center. Chevron CFO on second-quarter earnings, growth plan and Iraq accord
• Neutral Sentiment: Energy-sector tailwind: Rising crude, gasoline and diesel prices, driven by Middle East supply disruptions, lifted Chevron and other integrated oil companies and supported broader energy ETFs. Supermajor Earnings: Exxon and Chevron’s Impact on ETF Market
• Negative Sentiment: Geopolitical and valuation risks remain: Chevron said the conflict reduced output in the Saudi Arabia–Kuwait Partitioned Zone. Executives also warned of escalating supply risks, while potential gasoline-price interventions or windfall taxes could pressure future profits. Analysts noted that some of the earnings improvement may already be reflected in the stock price. Chevron’s Strong Quarter Shows Why It Still Leads the Energy Sector

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CVX. Scotiabank lifted their target price on Chevron from $168.00 to $187.00 and gave the company a "sector perform" rating in a research note on Wednesday, April 22nd. Piper Sandler started coverage on shares of Chevron in a research report on Thursday, July 23rd. They issued an "overweight" rating and a $207.00 price target for the company. Sanford C. Bernstein decreased their price target on shares of Chevron from $216.00 to $204.00 and set a "market perform" rating for the company in a report on Monday, May 11th. Zacks Research downgraded shares of Chevron from a "strong-buy" rating to a "hold" rating in a research report on Monday, June 8th. Finally, Weiss Ratings downgraded shares of Chevron from a "hold (c+)" rating to a "hold (c)" rating in a research report on Tuesday, June 2nd. Eighteen investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Chevron currently has an average rating of "Moderate Buy" and an average price target of $207.17.

Insider Buying and Selling

In other Chevron news, Director John B. Hess sold 380,000 shares of the business's stock in a transaction 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 transaction, the director owned 278,045 shares of the company's stock, valued at $53,718,294. The trade was a 57.75% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.56% of the stock is owned by company insiders.

Chevron Company 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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