Forty three Eighteen Advisors LLC Invests $2.64 Million in Chevron Corporation $CVX

Key Points

• Forty three Eighteen Advisors LLC disclosed a new first-quarter position in Chevron, buying 12,747 shares worth about $2.64 million. Chevron now represents 2.0% of the firm’s portfolio and its 13th-largest holding.
• Other institutional investors also added to Chevron, and overall institutions own 72.42% of the company’s stock. At the same time, director John B. Hess sold 380,000 shares for about $73.4 million, reducing his ownership by more than half.
• Chevron continues to draw Wall Street support, with analysts’ consensus at Moderate Buy and an average price target of $206.83. The company also recently reported earnings that beat EPS expectations and pays a quarterly dividend yielding about 3.8%.

Forty three Eighteen Advisors LLC bought a new stake in Chevron Corporation (NYSE:CVX - Free Report) during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 12,747 shares of the oil and gas company's stock, valued at approximately $2,637,000. Chevron makes up 2.0% of Forty three Eighteen Advisors LLC's investment portfolio, making the stock its 13th biggest position.

Several other large investors have also modified their holdings of CVX. Assetmark Inc. increased its holdings in shares of Chevron by 8.7% in the 1st quarter. Assetmark Inc. now owns 182,419 shares of the oil and gas company's stock valued at $37,743,000 after acquiring an additional 14,578 shares during the last quarter. NovaPoint Capital LLC lifted its stake in Chevron by 3.4% during the first quarter. NovaPoint Capital LLC now owns 23,677 shares of the oil and gas company's stock worth $4,899,000 after purchasing an additional 779 shares during the last quarter. Paradigm Capital Management LLC NV boosted its holdings in Chevron by 2.3% in the first quarter. Paradigm Capital Management LLC NV now owns 12,450 shares of the oil and gas company's stock worth $2,576,000 after purchasing an additional 278 shares during the period. Main Street Group LTD acquired a new position in Chevron in the first quarter worth $28,000. Finally, Barings LLC increased its stake in Chevron by 8.7% during the first quarter. Barings LLC now owns 100,446 shares of the oil and gas company's stock valued at $20,782,000 after purchasing an additional 8,048 shares during the last quarter. Institutional investors own 72.42% of the company's stock.

Insider Buying and Selling at Chevron

In related news, Director John B. Hess sold 380,000 shares of Chevron 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 directly owned 278,045 shares in the company, valued at $53,718,294. The trade was a 57.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.56% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on CVX shares. Jefferies Financial Group reissued a "buy" rating and issued a $216.00 target price on shares of Chevron in a report on Friday, July 10th. TD Cowen upped their target price on Chevron from $204.00 to $205.00 and gave the company a "hold" rating in a report on Friday, May 8th. Tudor Pickering upgraded Chevron from a "hold" rating to a "buy" rating and set a $225.00 price target on the stock in a research report on Thursday, April 9th. Citigroup raised their price target on Chevron from $210.00 to $235.00 and gave the stock a "buy" rating in a report on Thursday, April 2nd. Finally, Scotiabank boosted their price objective on Chevron from $168.00 to $187.00 and gave the company a "sector perform" rating in a research report on Wednesday, April 22nd. Nineteen research 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. According to MarketBeat.com, Chevron presently has an average rating of "Moderate Buy" and a consensus target price of $206.83.

Key Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron is expected to sign accords with Iraq to advance investments in major oil fields, including West Qurna 2 and Nassiriya, which could expand long-term production opportunities. Reuters article on Iraq oilfield MOUs
• Positive Sentiment: Reports that Chevron is exploring a pipeline alternative to the Strait of Hormuz suggest a potential way to boost Iraqi export capacity and lower shipping disruption risk, which investors may view as strategically important. The Motley Fool article on Hormuz bypass pipeline
• Positive Sentiment: Chevron is being highlighted as a relatively attractive long-term energy stock versus TotalEnergies because of its premium assets, strong balance sheet, and steadier earnings outlook. Yahoo Finance article comparing CVX and TTE
• Neutral Sentiment: Some commentary says Chevron stock looks closer to fairly valued after a strong five-year run, which may limit upside for investors expecting a clear bargain. Yahoo Finance article on valuation
• Neutral Sentiment: Chevron also benefited from broader energy-sector gains, with the sector rising even as the wider market was mixed. Yahoo Finance sector update

Chevron Stock Performance

Shares of CVX stock opened at $187.39 on Friday. Chevron Corporation has a 12-month low of $146.49 and a 12-month high of $214.71. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.09 and a quick ratio of 0.84. The firm has a market capitalization of $373.21 billion, a price-to-earnings ratio of 32.48, a price-to-earnings-growth ratio of 0.64 and a beta of 0.50. The business has a 50 day simple moving average of $181.54 and a 200 day simple moving average of $182.44.

Chevron (NYSE:CVX - Get Free Report) last announced its earnings results on Friday, May 1st. The oil and gas company reported $1.41 earnings per share 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 firm had revenue of $47.56 billion for the quarter, compared to the consensus estimate of $51.86 billion. During the same quarter in the previous year, the business earned $2.18 EPS. The firm's revenue for the quarter was up 2.1% on a year-over-year basis. On average, equities research analysts anticipate that Chevron Corporation will post 14.83 EPS for the current year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Tuesday, May 19th were issued a dividend of $1.78 per share. This represents a $7.12 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date of this dividend was Tuesday, May 19th. Chevron's dividend payout ratio (DPR) is 123.40%.

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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