Convergence Investment Partners LLC Sells 16,024 Shares of Chevron Corporation $CVX

Key Points

• Convergence Investment Partners cut its Chevron stake by 81.3% in the fourth quarter, selling 16,024 shares and leaving it with 3,690 shares valued at about $562,000.
• Chevron reported mixed quarterly results: earnings per share of $1.41 beat estimates, but revenue of $47.56 billion fell short of expectations, even as revenue rose 2.1% year over year.
• The company also announced a quarterly dividend of $1.78 per share, payable June 10, implying a 3.7% annualized yield, while analysts currently rate the stock a Moderate Buy with a consensus target of $204.13.

Convergence Investment Partners LLC lessened its holdings in shares of Chevron Corporation (NYSE:CVX - Free Report) by 81.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,690 shares of the oil and gas company's stock after selling 16,024 shares during the quarter. Convergence Investment Partners LLC's holdings in Chevron were worth $562,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Dakota Wealth Management increased its position in shares of Chevron by 14.9% during the 4th quarter. Dakota Wealth Management now owns 83,265 shares of the oil and gas company's stock valued at $12,690,000 after purchasing an additional 10,822 shares during the last quarter. Brooklyn FI LLC bought a new position in shares of Chevron during the 3rd quarter valued at approximately $431,000. Clear Trail Advisors LLC bought a new position in shares of Chevron during the 4th quarter valued at approximately $10,167,000. Finemark National Bank & Trust increased its position in shares of Chevron by 40.3% during the 3rd 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 position in shares of Chevron during the 4th quarter valued at approximately $1,381,000. Institutional investors own 72.42% of the company's stock.

Chevron Price Performance

Shares of CVX stock opened at $190.91 on Friday. Chevron Corporation has a twelve month low of $133.77 and a twelve month high of $214.71. The stock has a market capitalization of $380.22 billion, a price-to-earnings ratio of 33.09, a P/E/G ratio of 0.65 and a beta of 0.51. The stock has a fifty day simple moving average of $193.14 and a two-hundred day simple moving average of $173.26. 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 issued its earnings results on Friday, May 1st. The oil and gas company reported $1.41 earnings per share 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 business had revenue of $47.56 billion during the quarter, compared to analysts' expectations of $51.86 billion. During the same period in the prior year, the business earned $2.18 EPS. The business's revenue for the quarter was up 2.1% compared to the same quarter last year. On average, analysts predict that Chevron Corporation will post 15.43 EPS for the current fiscal year.

Chevron Announces Dividend

The company also recently announced 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 currently 123.40%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Melius Research raised Chevron from a "hold" rating to a "buy" rating and set a $205.00 target price on the stock in a research report on Tuesday, February 17th. Wall Street Zen raised Chevron from a "sell" rating to a "hold" rating in a research report on Saturday, January 31st. JPMorgan Chase & Co. raised Chevron from a "neutral" rating to an "overweight" rating and set a $176.00 target price on the stock in a research report on Tuesday, January 20th. Piper Sandler boosted their target price on Chevron from $179.00 to $242.00 and gave the company an "overweight" rating in a research report on Thursday, March 12th. Finally, The Goldman Sachs Group reissued a "buy" rating and set a $216.00 target price on shares of Chevron in a research report on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $204.13.

Insiders Place Their Bets

In other Chevron news, Vice Chairman Mark A. Nelson sold 139,600 shares of the company's stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $187.92, for a total value of $26,233,632.00. Following the completion of the sale, the insider directly owned 11,337 shares in the company, valued at approximately $2,130,449.04. This represents a 92.49% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John B. Hess sold 195,000 shares of the company's stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $184.78, for a total value of $36,032,100.00. Following the completion of the sale, the director owned 658,045 shares of the company's stock, valued at $121,593,555.10. This represents a 22.86% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 803,570 shares of company stock worth $151,969,798. 0.56% of the stock is owned by company insiders.

Key Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron agreed to sell its Singapore refining stake and other Asia-Pacific downstream assets to ENEOS for roughly $2.17 billion, reinforcing its strategy to streamline the portfolio and potentially improve returns. Reuters article on ENEOS buying Chevron assets
• Positive Sentiment: Another report framed Chevron’s recent earnings as less weak than the headline numbers suggested, noting that the company’s share price did not fall sharply after the results, which may indicate investors are focusing on underlying cash generation and strategic actions rather than the revenue miss. Yahoo Finance article on Chevron earnings
• Neutral Sentiment: Market commentary this week also compared Chevron with TotalEnergies and discussed broader oil-sector themes, but those pieces were more about sector positioning than a direct new fundamental change for Chevron. Motley Fool comparison article
• Negative Sentiment: Chevron’s latest quarter was mixed, with earnings per share beating estimates but revenue coming in below expectations, which could temper enthusiasm if investors refocus on operating performance rather than asset sales. Chevron stock background

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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