Empirical Financial Services LLC d.b.a. Empirical Wealth Management Purchases 8,211 Shares of Chevron Corporation $CVX

Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its holdings in shares of Chevron Corporation (NYSE:CVX - Free Report) by 15.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 62,155 shares of the oil and gas company's stock after buying an additional 8,211 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management's holdings in Chevron were worth $12,860,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. Midwest Capital Advisors LLC acquired a new stake in shares of Chevron during the 1st quarter valued at about $25,000. Core Wealth Advisors LLC acquired a new position in Chevron in the fourth quarter worth about $26,000. Phillip James Consulting Co. acquired a new position in Chevron in the fourth quarter worth about $26,000. Basso Capital Management L.P. bought a new position in Chevron during the fourth quarter worth about $27,000. Finally, Karpus Management Inc. bought a new position in Chevron during the fourth quarter worth about $27,000. Institutional investors and hedge funds own 72.42% of the company's stock.

Insider Buying and Selling

In other Chevron news, Director John B. Hess sold 380,000 shares of the stock in a transaction dated 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 sale, the director owned 278,045 shares of the company's stock, valued at $53,718,294. This represents a 57.75% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.56% of the stock is currently owned by corporate insiders.

Key Headlines Impacting Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Oil prices jumped after renewed U.S.-Iran tensions and a tougher stance on the Strait of Hormuz, boosting expectations for stronger cash flow and earnings for large integrated producers like Chevron. Oil Surges As Trump Asserts Control Over Strait Of Hormuz; What Happens Now
• Positive Sentiment: Chevron extended its gas supply agreement with Alinta Energy through 2032, reinforcing long-term demand visibility and underscoring the company’s role in regional energy security. Chevron Extends WA Gas Supply Deal With Alinta Energy Through 2032
• Positive Sentiment: Analysts are highlighting Chevron’s potential for a free-cash-flow surge in the second half of 2026, which could support shareholder returns and valuation. Chevron (CVX) Looks Ready for a Free Cash Flow Surge in H2 2026
• Positive Sentiment: Chevron’s joint venture with GE Vernova could benefit from rising electricity demand tied to AI data centers, giving the stock an additional growth narrative beyond traditional oil prices. Does Chevron's Joint Venture With GE Vernova Make the Stock a Buy Ahead of 2027?
• Neutral Sentiment: Industry reports say Chevron is among major oil companies preparing to explore offshore Uruguay, which is a longer-term opportunity but not an immediate earnings driver. Uruguay’s Offshore Oil Province Could Be Bigger Than Vaca Muerta
• Neutral Sentiment: Other coverage noting Chevron’s recent share strength and valuation commentary is broadly supportive, but does not add a major new catalyst on its own. Chevron NYSE: CVX Trading 1.3% Higher - Still a Buy?

Wall Street Analyst Weigh In

Several research firms have recently weighed in on CVX. Weiss Ratings lowered Chevron from a "hold (c+)" rating to a "hold (c)" rating in a research note on Tuesday, June 2nd. Sanford C. Bernstein cut their target price on Chevron from $216.00 to $204.00 and set a "market perform" rating for the company in a research report on Monday, May 11th. Wolfe Research raised Chevron from a "peer perform" rating to an "outperform" rating and set a $210.00 price target on the stock in a research note on Thursday, July 2nd. Zacks Research cut Chevron from a "strong-buy" rating to a "hold" rating in a research report on Monday, June 8th. Finally, Mizuho increased their price objective on Chevron from $225.00 to $230.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 27th. Nineteen investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $206.83.

Chevron Trading Up 3.2%

Shares of CVX opened at $182.09 on Tuesday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.84 and a current ratio of 1.09. The company has a market cap of $362.66 billion, a price-to-earnings ratio of 31.56, a PEG ratio of 0.60 and a beta of 0.50. The stock has a fifty day moving average price of $181.68 and a two-hundred day moving average price of $181.73. Chevron Corporation has a 52-week low of $146.49 and a 52-week high of $214.71.

Chevron (NYSE:CVX - Get Free Report) last announced its earnings results on Friday, May 1st. The oil and gas company reported $1.41 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 for the quarter, compared to analysts' expectations of $51.86 billion. During the same quarter in the prior year, the business earned $2.18 earnings per share. The business's revenue for the quarter was up 2.1% on a year-over-year basis. Analysts predict that Chevron Corporation will post 15.28 EPS for the current fiscal year.

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Tuesday, May 19th were given a dividend of $1.78 per share. The ex-dividend date was Tuesday, May 19th. This represents a $7.12 annualized dividend and a yield of 3.9%. 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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