Diamant Asset Management Inc. Has $226.75 Million Stock Holdings in Chevron Corporation $CVX

Key Points

• Diamant Asset Management dramatically boosted its Chevron stake in Q1, increasing holdings by 20,935.5% to 1,095,949 shares worth about $226.75 million. Chevron became its 24th-largest position and represented about 0.7% of its portfolio.
• Chevron drew mixed Wall Street views, but overall sentiment remains constructive: analysts currently rate the stock Moderate Buy with a consensus price target of $205.52. Several firms recently raised targets, including Piper Sandler, Bank of America, and Goldman Sachs.
• The company is also seeing important strategic and market developments, including progress on its Microsoft-linked Project Kilby data-center power initiative, while weaker crude prices continue to weigh on near-term sentiment. Chevron’s latest quarter beat EPS estimates, and it recently paid a $1.78 quarterly dividend yielding about 4.2% annualized.

Diamant Asset Management Inc. increased its holdings in shares of Chevron Corporation (NYSE:CVX - Free Report) by 20,935.5% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,095,949 shares of the oil and gas company's stock after purchasing an additional 1,090,739 shares during the quarter. Chevron accounts for 0.7% of Diamant Asset Management Inc.'s holdings, making the stock its 24th biggest position. Diamant Asset Management Inc. owned approximately 0.06% of Chevron worth $226,752,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of CVX. Core Wealth Advisors LLC acquired a new position in shares of Chevron in the fourth quarter valued at approximately $26,000. Phillip James Consulting Co. acquired a new stake in shares of Chevron during the fourth quarter worth $26,000. Basso Capital Management L.P. acquired a new stake in shares of Chevron during the fourth quarter worth $27,000. Karpus Management Inc. acquired a new stake in shares of Chevron during the fourth quarter worth $27,000. Finally, Quattro Advisors LLC bought a new stake in Chevron in the 4th quarter valued at $27,000. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Chevron

In related news, Director John B. Hess sold 380,000 shares of the firm's stock in a transaction dated Wednesday, May 20th. The shares were 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 directly owned 278,045 shares in the company, valued at approximately $53,718,294. This trade represents a 57.75% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.56% of the company's stock.

Wall Street Analyst Weigh In

CVX has been the subject of a number of research analyst reports. Piper Sandler upped their target price on shares of Chevron from $179.00 to $242.00 and gave the stock an "overweight" rating in a research note on Thursday, March 12th. TD Cowen lifted their price target on Chevron from $204.00 to $205.00 and gave the company a "hold" rating in a research note on Friday, May 8th. Bank of America boosted their price target on Chevron from $188.00 to $206.00 and gave the company a "buy" rating in a report on Monday, March 2nd. The Goldman Sachs Group reaffirmed a "buy" rating and set a $216.00 price objective on shares of Chevron in a research report on Wednesday, May 6th. Finally, Scotiabank increased their price objective on Chevron from $168.00 to $187.00 and gave the stock a "sector perform" rating in a report on Wednesday, April 22nd. Eighteen analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Chevron currently has an average rating of "Moderate Buy" and a consensus price target of $205.52.

Key Headlines Impacting Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron is expanding its data-center power strategy beyond Project Kilby, using natural gas to target rising AI-related electricity demand and potentially opening a new growth avenue. Chevron Expands Data Center Power Strategy Beyond Project Kilby
• Positive Sentiment: Chevron secured Texas Pacific Land support for Project Kilby, a large joint initiative with Microsoft, reinforcing execution on a potentially meaningful infrastructure and power project. Chevron Corporation (CVX) Secures Texas Pacific Land Support on Microsoft’s Project Kilby
• Positive Sentiment: Morgan Stanley kept an overweight rating on Chevron while trimming its price target only slightly to $210, signaling continued analyst confidence in upside from current levels. Benzinga report on Morgan Stanley price target cut
• Neutral Sentiment: Several recent articles highlight Chevron’s push deeper into offshore energy and its broader role in a volatile oil market, but these are more about strategy and sector positioning than a clear near-term catalyst. Chevron NYSE: CVX Pushes Deeper Into Offshore Energy
• Neutral Sentiment: Comparisons with Occidental Petroleum and commentary on Chevron’s valuation suggest investors are still weighing CVX’s upside versus peers, but no decisive new fundamental shift was reported. Occidental Petroleum or Chevron: Which Oil Stock Offers More Upside?
• Negative Sentiment: Chevron is being hurt by weaker crude prices, which pressure near-term oil and gas earnings expectations and weigh on sentiment across the sector. Why Is Chevron NYSE: CVX in Focus As Crude Slips?
• Negative Sentiment: Coverage noting that oil prices have fallen back toward pre-Iran-war levels suggests the broader commodity backdrop is less supportive for CVX in the near term. Energy ETFs to Buy as Oil Price Slides to Pre-Iran War Level

Chevron Price Performance

Shares of CVX opened at $168.61 on Tuesday. The company has a current ratio of 1.09, a quick ratio of 0.84 and a debt-to-equity ratio of 0.21. The company's fifty day simple moving average is $184.71 and its 200 day simple moving average is $180.14. Chevron Corporation has a 1-year low of $142.40 and a 1-year high of $214.71. The company has a market cap of $335.81 billion, a price-to-earnings ratio of 29.22, a PEG ratio of 0.56 and a beta of 0.48.

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. Chevron had a net margin of 5.79% and a return on equity of 6.90%. The firm had revenue of $47.56 billion during the quarter, compared to analysts' expectations of $51.86 billion. During the same quarter last year, the company posted $2.18 earnings per share. The company's revenue for the quarter was up 2.1% compared to the same quarter last year. On average, research analysts forecast that Chevron Corporation will post 15.88 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Tuesday, May 19th were issued a $1.78 dividend. This represents a $7.12 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date of this dividend was Tuesday, May 19th. Chevron's dividend payout ratio is presently 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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