Chevron Corporation $CVX Stock Position Raised by Capital Wealth Planning LLC

Key Points

• Capital Wealth Planning LLC increased its Chevron stake by 6.6% in the fourth quarter, adding 169,794 shares to bring its total to 2.74 million shares worth about $422.4 million.
• Wall Street remains cautiously positive on Chevron, with a consensus rating of “Moderate Buy” and an average price target of $205.70, though some firms recently trimmed ratings or targets.
• Chevron reported better-than-expected quarterly EPS of $1.41 and continues to support investors with a quarterly dividend of $1.78 per share for a 3.7% yield, even as insiders have sold shares recently.

Capital Wealth Planning LLC raised its position in shares of Chevron Corporation (NYSE:CVX - Free Report) by 6.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,744,140 shares of the oil and gas company's stock after purchasing an additional 169,794 shares during the period. Chevron accounts for about 2.7% of Capital Wealth Planning LLC's investment portfolio, making the stock its 19th largest position. Capital Wealth Planning LLC owned approximately 0.14% of Chevron worth $422,368,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Core Wealth Advisors LLC purchased a new stake in shares of Chevron during the 4th quarter worth about $26,000. Strategic Wealth Advisors LLC purchased a new stake in shares of Chevron during the 4th quarter worth about $33,000. Daytona Street Capital LLC purchased a new stake in shares of Chevron during the 4th quarter worth about $44,000. Turning Point Benefit Group Inc. purchased a new stake in shares of Chevron during the 3rd quarter worth about $49,000. Finally, Maseco LLP purchased a new stake in shares of Chevron during the 4th quarter worth about $49,000. 72.42% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on CVX shares. HSBC raised Chevron from a "hold" rating to a "buy" rating and set a $215.00 price target for the company in a research note on Friday, March 20th. Bank of America increased their price objective on Chevron from $188.00 to $206.00 and gave the company a "buy" rating in a report on Monday, March 2nd. Sanford C. Bernstein lowered their price objective on Chevron from $216.00 to $204.00 and set a "market perform" rating on the stock in a report on Monday, May 11th. Weiss Ratings lowered Chevron from a "hold (c+)" rating to a "hold (c)" rating in a report on Tuesday, June 2nd. Finally, Zacks Research lowered Chevron from a "strong-buy" rating to a "hold" rating in a report on Monday. Eighteen research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Chevron presently has a consensus rating of "Moderate Buy" and an average price target of $205.70.

Trending Headlines about Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron was highlighted as one of the top oil stocks to buy as energy investors look for resilient names, with articles emphasizing its defensive cash flows and income appeal. Article Title
• Positive Sentiment: Market commentary on Chevron’s Guyana assets pointed to a combined $7.6 billion profit for ExxonMobil and Chevron last year, reinforcing the value of its low-cost production base amid geopolitical tensions. Article Title
• Positive Sentiment: Chevron was also featured in a bullish technical forecast saying momentum is improving and buyers may be regaining control as the stock approaches a breakout level. Article Title
• Positive Sentiment: Reports that Chevron is advancing a major shale project in Argentina’s Vaca Muerta basin and moving closer to approval for a $13.8 billion investment could support future production growth. Article Title
• Neutral Sentiment: Chevron continues to attract attention as a dividend stock for retirement portfolios, which supports the investment case but does not represent a new catalyst. Article Title
• Negative Sentiment: Zacks Research downgraded Chevron from strong-buy to hold, which could temper enthusiasm despite the stock’s otherwise constructive news flow. Article Title

Chevron Stock Performance

CVX opened at $189.89 on Thursday. The firm has a market capitalization of $378.19 billion, a P/E ratio of 32.91, a price-to-earnings-growth ratio of 0.62 and a beta of 0.48. The stock's 50 day moving average price is $189.38 and its two-hundred day moving average price is $177.75. 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 Corporation has a 12-month low of $142.40 and a 12-month high of $214.71.

Chevron (NYSE:CVX - Get Free Report) last released its earnings results on Friday, May 1st. The oil and gas company reported $1.41 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.00 by $0.41. The firm had revenue of $47.56 billion for the quarter, compared to analyst estimates of $51.86 billion. Chevron had a return on equity of 6.90% and a net margin of 5.79%.The company's revenue was up 2.1% on a year-over-year basis. During the same quarter last year, the firm posted $2.18 EPS. On average, equities analysts forecast that Chevron Corporation will post 15.74 earnings per share for the current year.

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Tuesday, May 19th were issued a $1.78 dividend. The ex-dividend date of this dividend was Tuesday, May 19th. This represents a $7.12 dividend on an annualized basis and a yield of 3.7%. Chevron's dividend payout ratio (DPR) is 123.40%.

Insider Buying and Selling

In other Chevron news, Director John B. Hess sold 380,000 shares of the firm's stock in a transaction that occurred on 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 owned 278,045 shares of the company's stock, valued at $53,718,294. This trade represents a 57.75% decrease in their position. The transaction was disclosed in a 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 that occurred 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 completion of the sale, the insider directly owned 8,638 shares in the company, valued at $1,842,485.40. This trade represents a 82.31% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 615,200 shares of company stock worth $118,022,760 in the last ninety days. 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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