Elevation Point Wealth Partners LLC Has $13.82 Million Stock Holdings in Chevron Corporation $CVX

Key Points

• Elevation Point Wealth Partners LLC boosted its Chevron stake by 79% in the first quarter, buying 29,472 additional shares and lifting its total holding to 66,779 shares worth about $13.82 million.
• Chevron is drawing mostly positive analyst attention: Wolfe Research upgraded the stock to Outperform, RBC Capital reiterated a Buy rating, and the consensus view remains Moderate Buy with an average price target of $205.71.
• The company reported mixed recent fundamentals, including Q1 EPS of $1.41 versus expectations of $1.00, while revenue came in below estimates; Chevron also paid a quarterly dividend of $1.78 per share, implying a 4.2% yield.

Elevation Point Wealth Partners LLC increased its position in Chevron Corporation (NYSE:CVX - Free Report) by 79.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 66,779 shares of the oil and gas company's stock after purchasing an additional 29,472 shares during the quarter. Elevation Point Wealth Partners LLC's holdings in Chevron were worth $13,817,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of CVX. Midwest Capital Advisors LLC bought a new stake in Chevron in the first quarter valued at approximately $25,000. Core Wealth Advisors LLC acquired a new stake in shares of Chevron in the fourth quarter valued at approximately $26,000. Phillip James Consulting Co. bought a new position in shares of Chevron during the 4th quarter worth approximately $26,000. Basso Capital Management L.P. bought a new position in shares of Chevron during the 4th quarter worth approximately $27,000. Finally, Karpus Management Inc. acquired a new position in shares of Chevron during the 4th quarter worth approximately $27,000. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Chevron News Roundup

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Wolfe Research upgraded Chevron to Outperform, saying the recent pullback has created an attractive entry point and that Chevron’s long-term free cash flow outlook is stronger than the market is pricing in. Wolfe Research upgrades Chevron to Outperform on strong cash flow outlook
• Positive Sentiment: RBC Capital also reaffirmed its Buy rating on Chevron, adding to the positive analyst tone around the stock. RBC Capital Reaffirms Their Buy Rating on Chevron (CVX)
• Neutral Sentiment: Several market updates highlighted Chevron’s strong cash generation, solid returns, and ongoing investor interest, while noting the stock may be near fair value rather than deeply discounted. Chevron (CVX) Stock Looks Near Fair Value With Strong Returns But Rich Earnings
• Neutral Sentiment: Chevron remains in focus ahead of its second-quarter earnings conference call later this month, which could become the next major catalyst for the shares. Advisory: Chevron Corporation's 2Q 2026 Earnings Conference Call and Webcast
• Negative Sentiment: A New York Post report said President Trump is pressuring Big Oil to lower gas prices ahead of the midterm elections, which could raise concerns about margin pressure or political scrutiny for Chevron and peers. Big Oil heads for biggest profits in years as Trump pushes for lower gas prices

Insider Activity

In related news, Director John B. Hess sold 380,000 shares of the company'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 transaction, the director directly owned 278,045 shares in the company, valued at approximately $53,718,294. This represents a 57.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.56% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on CVX shares. Royal Bank Of Canada restated an "outperform" rating and issued a $220.00 price target on shares of Chevron in a research note on Tuesday, May 5th. Weiss Ratings cut shares of Chevron from a "hold (c+)" rating to a "hold (c)" rating in a research report on Tuesday, June 2nd. The Goldman Sachs Group reiterated a "buy" rating and issued a $216.00 price objective on shares of Chevron in a report on Wednesday, May 6th. Citigroup increased their price objective on shares of Chevron from $210.00 to $235.00 and gave the company a "buy" rating in a research report on Thursday, April 2nd. Finally, Scotiabank raised their target price on shares of Chevron from $168.00 to $187.00 and gave the stock a "sector perform" rating in a research note on Wednesday, April 22nd. Nineteen investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $205.71.

Chevron Price Performance

Shares of NYSE CVX opened at $169.06 on Friday. The firm has a market cap of $336.71 billion, a P/E ratio of 29.30, a price-to-earnings-growth ratio of 0.57 and a beta of 0.50. The business's 50 day moving average is $183.31 and its 200-day moving average is $180.40. 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 Corporation has a 1-year low of $145.58 and a 1-year high of $214.71.

Chevron (NYSE:CVX - Get Free Report) last released its quarterly earnings results on Friday, May 1st. The oil and gas company reported $1.41 earnings per share (EPS) for the quarter, beating 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 the consensus estimate of $51.86 billion. During the same period in the previous year, the company posted $2.18 EPS. The firm's quarterly revenue was up 2.1% on a year-over-year basis. Equities research analysts predict that Chevron Corporation will post 15.52 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. Stockholders of record on Tuesday, May 19th were given 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 payout ratio is presently 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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