Cvfg LLC Buys 17,999 Shares of Chevron Corporation $CVX

Key Points

• Cvfg LLC sharply increased its Chevron stake in the first quarter, adding 17,999 shares to raise its holdings to 19,318 shares worth about $3.997 million.
• Institutional interest in Chevron remains strong, with several funds boosting positions and institutions now owning 72.42% of the company’s stock.
• Analyst sentiment is broadly positive: Chevron has a “Moderate Buy” consensus rating, with 19 Buy ratings and an average price target of $205.71, while the company also offers a 4.0% dividend yield.

Cvfg LLC grew its stake in shares of Chevron Corporation (NYSE:CVX - Free Report) by 1,364.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 19,318 shares of the oil and gas company's stock after acquiring an additional 17,999 shares during the period. Cvfg LLC's holdings in Chevron were worth $3,997,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the company. United Bank increased its position in Chevron by 7.7% during the second quarter. United Bank now owns 11,079 shares of the oil and gas company's stock worth $1,586,000 after acquiring an additional 796 shares during the period. Schnieders Capital Management LLC. boosted its stake in shares of Chevron by 9.0% in the second quarter. Schnieders Capital Management LLC. now owns 50,839 shares of the oil and gas company's stock valued at $7,280,000 after buying an additional 4,214 shares during the period. BNP Paribas grew its position in Chevron by 76.4% during the second quarter. BNP Paribas now owns 441 shares of the oil and gas company's stock worth $63,000 after buying an additional 191 shares in the last quarter. Osterweis Capital Management Inc. increased its stake in Chevron by 678.9% during the 2nd quarter. Osterweis Capital Management Inc. now owns 1,363 shares of the oil and gas company's stock worth $195,000 after acquiring an additional 1,188 shares during the period. Finally, Main Street Financial Solutions LLC increased its stake in Chevron by 3.6% during the 2nd quarter. Main Street Financial Solutions LLC now owns 16,052 shares of the oil and gas company's stock worth $2,299,000 after acquiring an additional 553 shares during the period. Institutional investors own 72.42% of the company's stock.

Wall Street Analyst Weigh In

CVX has been the subject of a number of recent analyst reports. Piper Sandler upped 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. UBS Group reaffirmed a "buy" rating on shares of Chevron in a report on Tuesday, June 23rd. The Goldman Sachs Group reiterated a "buy" rating and set a $216.00 price target on shares of Chevron in a research report on Wednesday, May 6th. Royal Bank Of Canada reissued an "outperform" rating and issued a $220.00 price objective on shares of Chevron in a research note on Tuesday, May 5th. Finally, Wells Fargo & Company boosted their price objective on shares of Chevron from $204.00 to $222.00 and gave the company an "overweight" rating in a research report on Thursday, April 9th. Nineteen research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Chevron currently has an average rating of "Moderate Buy" and an average target price of $205.71.

Insider Transactions at Chevron

In other news, Director John B. Hess sold 380,000 shares of the firm'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 approximately $53,718,294. This trade represents a 57.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.56% of the company's stock.

Chevron News Roundup

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron stock is benefiting from a jump in oil prices, which boosts expected upstream earnings and improves sentiment across the energy sector. Why Is Chevron Stock Gaining Wednesday?
• Positive Sentiment: Rising geopolitical tensions and the unraveling of the U.S.–Iran ceasefire have pushed crude and risk premiums higher, giving integrated oil names like Chevron a lift. Ceasefire Cracks, Oil Bounces: Why Exxon, Chevron Stocks Are Hot Again
• Positive Sentiment: Chevron announced it will offer rival drillers access to its chemical technology to help boost shale output, reinforcing its role in U.S. energy production and potentially creating a new commercialization opportunity. Chevron offers rival drillers its chemical technology to boost shale oil output
• Positive Sentiment: Chevron remains in focus for investors seeking dependable income, with articles highlighting its attractive dividend yield and its status as a preferred blue-chip energy holding. Chevron (CVX) – Among the 14 Best Blue Chip Dividend Stocks to Buy According to Hedge Funds
• Neutral Sentiment: Market commentary also notes Chevron’s stock has held up despite recent index removal and continuing debate over valuation, Guyana growth, and cash-flow durability. Chevron (CVX) Following Index Removal And Guyana Upgrades, Is The Valuation Case Intact?
• Neutral Sentiment: Coverage around Chevron’s AI-related energy demand exposure and a new technology licensing agreement with ZL Chemicals adds longer-term strategic interest, but these headlines are less likely to drive near-term trading than oil prices. Chevron NYSE: CVX Powers AI Demand Across Energy Markets Chevron, ZL Chemicals sign technology licensing agreement
• Negative Sentiment: Chevron also faced a negative operational headline after one of its tankers used for CPC shipments was reportedly hit by a drone in the Black Sea, which could raise transportation and geopolitical risk concerns. Chevron tanker used for CPC oil hit by drone in Black Sea

Chevron Price Performance

Shares of CVX opened at $175.89 on Thursday. 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 stock has a market cap of $350.31 billion, a PE ratio of 30.48, a PEG ratio of 0.59 and a beta of 0.50. Chevron Corporation has a 12-month low of $146.49 and a 12-month high of $214.71. The business has a 50-day simple moving average of $182.51 and a two-hundred day simple moving average of $181.14.

Chevron (NYSE:CVX - Get Free Report) last announced its quarterly earnings results on Friday, May 1st. The oil and gas company reported $1.41 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 business's revenue for the quarter was up 2.1% on a year-over-year basis. During the same period last year, the firm posted $2.18 earnings per share. Analysts anticipate that Chevron Corporation will post 15.28 earnings per share for the current fiscal year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Tuesday, May 19th were given a $1.78 dividend. This represents a $7.12 annualized dividend and a yield of 4.0%. The ex-dividend date was Tuesday, May 19th. Chevron's dividend payout ratio is 123.40%.

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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