IFP Advisors Inc Acquires 6,134 Shares of Chevron Corporation $CVX

Key Points

• IFP Advisors Inc increased its Chevron stake by 12.8% in the fourth quarter, buying 6,134 additional shares and bringing its total holdings to 54,013 shares worth about $8.23 million.
• Institutional interest in Chevron remained broad, with several other funds adding positions; overall, institutions now own 72.42% of the company.
• Analysts are generally positive on Chevron, with a consensus rating of “Moderate Buy” and an average target price of $204.13, while the stock also supports a quarterly dividend of $1.78 per share.

IFP Advisors Inc grew its holdings in Chevron Corporation (NYSE:CVX - Free Report) by 12.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 54,013 shares of the oil and gas company's stock after purchasing an additional 6,134 shares during the period. IFP Advisors Inc's holdings in Chevron were worth $8,232,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Dakota Wealth Management boosted its position in Chevron by 14.9% during the 4th quarter. Dakota Wealth Management now owns 83,265 shares of the oil and gas company's stock valued at $12,690,000 after buying an additional 10,822 shares during the period. Brooklyn FI LLC purchased a new stake in Chevron during the 3rd quarter valued at $431,000. Clear Trail Advisors LLC purchased a new stake in Chevron during the 4th quarter valued at $10,167,000. Finemark National Bank & Trust boosted its position in Chevron by 40.3% during the 3rd quarter. Finemark National Bank & Trust now owns 56,535 shares of the oil and gas company's stock valued at $8,779,000 after buying an additional 16,243 shares during the period. Finally, Curtis Advisory Group LLC purchased a new stake in Chevron during the 4th quarter valued at $1,381,000. Institutional investors own 72.42% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Morgan Stanley increased their price target on shares of Chevron from $174.00 to $212.00 and gave the company an "overweight" rating in a research report on Friday, March 27th. Mizuho upped their price objective on shares of Chevron from $206.00 to $217.00 and gave the stock an "outperform" rating in a report on Tuesday, March 17th. BNP Paribas Exane upgraded shares of Chevron from a "neutral" rating to an "outperform" rating and set a $174.00 price objective for the company in a report on Friday, April 17th. Weiss Ratings restated a "hold (c)" rating on shares of Chevron in a report on Wednesday, January 21st. Finally, Argus set a $203.00 price objective on shares of Chevron in a report on Tuesday, February 3rd. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $204.13.

Insider Activity

In related news, insider R. Hewitt Pate sold 40,200 shares of the business's stock in a transaction on Monday, March 30th. The shares were sold at an average price of $213.30, for a total value of $8,574,660.00. Following the sale, the insider owned 8,638 shares in the company, valued at approximately $1,842,485.40. The trade was a 82.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Michael K. Wirth sold 272,624 shares of the business's stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $189.35, for a total transaction of $51,621,354.40. Following the completion of the sale, the chief executive officer owned 31,266 shares in the company, valued at $5,920,217.10. This represents a 89.71% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 799,699 shares of company stock valued at $151,259,517. Company insiders own 0.56% of the company's stock.

Chevron Stock Up 0.6%

Shares of Chevron stock opened at $197.38 on Wednesday. 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 company has a 50-day moving average of $193.41 and a 200 day moving average of $173.98. The firm has a market cap of $393.11 billion, a price-to-earnings ratio of 34.21, a PEG ratio of 0.66 and a beta of 0.51. Chevron Corporation has a 1 year low of $133.77 and a 1 year high of $214.71.

Chevron (NYSE:CVX - Get Free Report) last released its earnings results on Friday, May 1st. The oil and gas company reported $1.41 EPS for the quarter, topping 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 company had revenue of $47.56 billion for the quarter, compared to analysts' expectations of $51.86 billion. During the same quarter last year, the business earned $2.18 EPS. The firm's revenue was up 2.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Chevron Corporation will post 15.43 earnings per share for the current fiscal year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Tuesday, May 19th will be given a dividend of $1.78 per share. The ex-dividend date is Tuesday, May 19th. This represents a $7.12 annualized dividend and a dividend yield of 3.6%. Chevron's dividend payout ratio (DPR) is presently 123.40%.

Chevron News Summary

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Wall Street commentary has turned more upbeat on Chevron, with Zacks noting rising earnings estimate revisions and arguing that CVX could keep moving higher in the near term. Article Title
• Positive Sentiment: Chevron was highlighted as a long-term blue-chip idea, reinforcing the view that the company remains attractive for dividend and energy investors. Article Title
• Positive Sentiment: Chevron also drew unusually heavy call-option buying, suggesting traders are positioning for more upside in the near term. Article Title
• Positive Sentiment: Chevron agreed to sell a stake in its Asia-Pacific refining business to Japan’s Eneos for $2.2 billion, a move that can help streamline operations and raise cash. Article Title
• Neutral Sentiment: Several articles framed Chevron as a stock to watch or a “hold” at current levels, which does not point to a major fundamental surprise but helps explain continued investor focus. Article Title
• Neutral Sentiment: Coverage around Berkshire Hathaway trimming its Chevron stake created headlines, but the broader message was that Berkshire still appears committed to the company despite the sale. Article Title
• Negative Sentiment: Buffett-related reports that Berkshire Hathaway sold the largest chunk of Chevron in its Q1 stock trimming campaign may create some pressure, since investors often read Berkshire’s moves as a cautionary signal. Article Title

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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