Churchill Financial Advisors LLC Invests $3.59 Million in Chevron Corporation $CVX

Key Points

• Churchill Financial Advisors disclosed a new fourth-quarter stake in Chevron, buying 23,572 shares valued at about $3.59 million. Chevron now makes up roughly 1.1% of the firm’s portfolio.
• Several other institutional investors also added to or initiated positions in Chevron, and institutions now own 72.42% of the stock. Meanwhile, insider selling has been notable, including a large sale by Director John B. Hess.
• Chevron’s latest quarterly results beat earnings expectations, and the company recently declared a $1.78 quarterly dividend (3.7% yield). Analyst sentiment remains generally positive, with a consensus rating of Moderate Buy and a target price around $204.22.

Churchill Financial Advisors LLC bought a new position in shares of Chevron Corporation (NYSE:CVX - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 23,572 shares of the oil and gas company's stock, valued at approximately $3,593,000. Chevron comprises approximately 1.1% of Churchill Financial Advisors LLC's portfolio, making the stock its 26th biggest position.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Dakota Wealth Management raised its position in shares of Chevron by 14.9% during the fourth 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 bought a new stake in shares of Chevron during the third quarter worth $431,000. Clear Trail Advisors LLC bought a new stake in shares of Chevron during the fourth quarter worth $10,167,000. Finemark National Bank & Trust increased its holdings in Chevron by 40.3% in the third quarter. Finemark National Bank & Trust now owns 56,535 shares of the oil and gas company's stock valued at $8,779,000 after purchasing an additional 16,243 shares during the last quarter. Finally, Curtis Advisory Group LLC bought a new stake in Chevron in the fourth quarter valued at about $1,381,000. Institutional investors own 72.42% of the company's stock.

Insider Buying and Selling

In other Chevron news, insider Andrew Benjamin Walz sold 11,600 shares of the stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $188.58, for a total value of $2,187,528.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John B. Hess sold 380,000 shares of the 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 completion of 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 ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 1,179,699 shares of company stock valued at $224,675,517. 0.56% of the stock is owned by company insiders.

Chevron News Roundup

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: WTI crude above $95 per barrel is lifting Permian oil and associated gas economics, which should be a tailwind for Chevron’s upstream earnings and cash flow. More Gas Per Barrel of Oil: A Growth Lever for Permian Operators
• Positive Sentiment: Morgan Stanley raised its price target on Chevron to $214 from $212 and reiterated an overweight rating, signaling continued Wall Street confidence in the stock’s upside. Benzinga / The Fly analyst update
• Positive Sentiment: Chevron’s planned participation in a Bernstein conference next week keeps investor attention on management commentary and strategic updates. Chevron to Participate in Fireside Q&A at Bernstein 42nd Annual Strategic Decisions Conference
• Positive Sentiment: Chevron’s new next-generation Techron gasoline additive may help support brand strength and retail fuel performance over time. Chevron Introduces Next-gen Techron in U.S. Chevron and Texaco Gasolines
• Positive Sentiment: Chevron stands to receive about $2.17 billion from the sale of several Asia Pacific refining and retail assets to Eneos, which supports balance-sheet flexibility and portfolio simplification. Chevron Corporation (CVX) Poised for $2.17B Boost from Asia Pacific Asset Sale

Wall Street Analysts Forecast Growth

CVX has been the subject of a number of recent analyst reports. Sanford C. Bernstein dropped their price objective on Chevron from $216.00 to $204.00 and set a "market perform" rating for the company in a report on Monday, May 11th. BNP Paribas Exane upgraded Chevron from a "neutral" rating to an "outperform" rating and set a $174.00 price objective for the company in a report on Friday, April 17th. Mizuho upped their price objective on Chevron from $206.00 to $217.00 and gave the company an "outperform" rating in a report on Tuesday, March 17th. HSBC upgraded Chevron from a "hold" rating to a "buy" rating and set a $215.00 price objective for the company in a report on Friday, March 20th. Finally, Zacks Research upgraded Chevron from a "hold" rating to a "strong-buy" rating in a report on Friday, April 3rd. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Chevron has a consensus rating of "Moderate Buy" and a consensus target price of $204.22.

Chevron Trading Up 0.0%

NYSE CVX opened at $191.51 on Monday. Chevron Corporation has a 12 month low of $134.06 and a 12 month high of $214.71. The stock has a 50-day simple moving average of $193.54 and a 200 day simple moving average of $174.75. The company has a market capitalization of $381.42 billion, a PE ratio of 33.19, a P/E/G ratio of 0.64 and a beta of 0.51. 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 (NYSE:CVX - Get Free Report) last announced 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 return on equity of 6.90% and a net margin of 5.79%.The company had revenue of $47.56 billion during the quarter, compared to the consensus estimate of $51.86 billion. During the same period in the prior year, the company earned $2.18 earnings per share. The company's revenue for the quarter was up 2.1% compared to the same quarter last year. Research analysts forecast that Chevron Corporation will post 15.74 EPS for the current year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Shareholders of record on Tuesday, May 19th will be issued a $1.78 dividend. This represents a $7.12 annualized dividend and a dividend yield of 3.7%. The ex-dividend date is Tuesday, May 19th. Chevron's dividend payout ratio is 123.40%.

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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