Forum Financial Management LP Has $2.99 Million Stock Position in Chevron Corporation $CVX

Key Points

• Forum Financial Management LP cut its Chevron stake by 58% in the first quarter, selling 19,930 shares and leaving it with 14,451 shares valued at about $2.99 million.
• Chevron’s latest quarterly results beat earnings expectations, posting $1.41 EPS versus the $1.00 consensus, though revenue came in below estimates at $47.56 billion.
• The company continues to draw attention for its 4.3% dividend yield and strategic AI-related power projects, even as its shares face pressure from weaker oil prices and cautious analyst comparisons.

Forum Financial Management LP lessened its stake in shares of Chevron Corporation (NYSE:CVX - Free Report) by 58.0% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 14,451 shares of the oil and gas company's stock after selling 19,930 shares during the quarter. Forum Financial Management LP's holdings in Chevron were worth $2,990,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. D.B. Root & Company LLC grew its position in Chevron by 1.0% during the 4th quarter. D.B. Root & Company LLC now owns 5,552 shares of the oil and gas company's stock worth $846,000 after acquiring an additional 57 shares during the last quarter. Chatterton & Associates Inc. raised its position in Chevron by 1.7% in the first quarter. Chatterton & Associates Inc. now owns 3,427 shares of the oil and gas company's stock valued at $652,000 after purchasing an additional 57 shares during the last quarter. First United Bank & Trust boosted its stake in shares of Chevron by 0.5% during the first quarter. First United Bank & Trust now owns 12,532 shares of the oil and gas company's stock valued at $2,593,000 after purchasing an additional 57 shares in the last quarter. Fox Hill Wealth Management boosted its stake in shares of Chevron by 1.7% during the fourth quarter. Fox Hill Wealth Management now owns 3,443 shares of the oil and gas company's stock valued at $525,000 after purchasing an additional 57 shares in the last quarter. Finally, Cornerstone Planning Group LLC boosted its stake in shares of Chevron by 6.8% during the fourth quarter. Cornerstone Planning Group LLC now owns 930 shares of the oil and gas company's stock valued at $142,000 after purchasing an additional 59 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Chevron News Summary

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron was highlighted as a reliable income stock with a 4.2% dividend yield, reinforcing its appeal to income-focused investors. This Energy Stock Pays a 4.2% Dividend That You Can Bank On
• Positive Sentiment: Chevron was included among integrated energy stocks expected to benefit from solid oil prices, a stable business mix, and strong midstream operations. 3 Integrated Energy Stocks to Gain From Promising Industry Trend
• Positive Sentiment: Chevron is expanding into data center power projects tied to AI electricity demand, including work beyond Project Kilby, which could create a new growth avenue for its natural gas business. Chevron Expands Data Center Power Strategy Beyond Project Kilby
• Positive Sentiment: Chevron also received attention for securing Texas Pacific Land support for Microsoft’s Project Kilby, signaling progress on a large strategic energy-infrastructure partnership. Chevron Corporation (CVX) Secures Texas Pacific Land Support on Microsoft’s Project Kilby
• Neutral Sentiment: Several recent commentaries focused on Chevron’s positioning in offshore energy and broader oil-and-gas trends, but these pieces were mostly informational rather than directly moving the stock. Chevron NYSE: CVX Pushes Deeper Into Offshore Energy
• Negative Sentiment: Chevron shares came under pressure as energy markets weakened, with lower crude prices and Morgan Stanley’s oil-demand warning weighing on sentiment across the sector. BP, Shell, Chevron shares on edge as Morgan Stanley slashes oil forecast
• Negative Sentiment: A separate analysis suggested Occidental Petroleum may offer more upside than Chevron based on valuation and earnings-growth metrics, which could temper investor enthusiasm for CVX. Occidental Petroleum or Chevron: Which Oil Stock Offers More Upside?

Insiders Place Their Bets

In other 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 transaction of $73,416,000.00. Following the transaction, the director 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.56% of the company's stock.

Chevron Price Performance

Chevron stock opened at $165.69 on Wednesday. The stock has a market capitalization of $329.99 billion, a price-to-earnings ratio of 28.72, a PEG ratio of 0.57 and a beta of 0.48. Chevron Corporation has a 52-week low of $142.51 and a 52-week high of $214.71. The stock's 50 day moving average price is $184.34 and its two-hundred day moving average price is $180.24. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.84 and a current ratio of 1.09.

Chevron (NYSE:CVX - Get Free Report) last released its quarterly earnings data 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 net margin of 5.79% and a return on equity of 6.90%. The company had revenue of $47.56 billion during the quarter, compared to analyst estimates of $51.86 billion. During the same quarter in the previous year, the business posted $2.18 EPS. Chevron's revenue for the quarter was up 2.1% compared to the same quarter last year. On average, equities analysts predict that Chevron Corporation will post 15.41 earnings per share for the current year.

Chevron Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Tuesday, May 19th were paid a $1.78 dividend. This represents a $7.12 annualized dividend and a yield of 4.3%. The ex-dividend date of this dividend was Tuesday, May 19th. Chevron's payout ratio is 123.40%.

Analyst Ratings Changes

Several research firms have recently issued reports on CVX. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $216.00 price objective on shares of Chevron in a research note on Wednesday, May 6th. Weiss Ratings downgraded shares of Chevron from a "hold (c+)" rating to a "hold (c)" rating in a research report on Tuesday, June 2nd. Citigroup upped their price target 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. TD Cowen raised their price target on shares of Chevron from $204.00 to $205.00 and gave the company a "hold" rating in a research note on Friday, May 8th. Finally, Royal Bank Of Canada reiterated an "outperform" rating and set a $220.00 price target on shares of Chevron in a report on Tuesday, May 5th. Eighteen analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $205.52.

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.

Want to see what other hedge funds are holding CVX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Chevron Corporation (NYSE:CVX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.