Kestra Advisory Services LLC Purchases 16,625 Shares of Chevron Corporation $CVX

Key Points

• Kestra Advisory Services LLC increased its Chevron stake by 5.1% in the first quarter, buying 16,625 additional shares and bringing its total holding to 343,030 shares worth about $70.97 million.
• Analyst sentiment remains constructive: Chevron has an average rating of Moderate Buy with a consensus price target of $205.71, while several firms recently raised or reiterated bullish targets and ratings.
• Chevron recently beat earnings expectations with $1.41 EPS for the quarter, and it also paid a quarterly dividend of $1.78 per share, implying an annualized yield of about 4.1%.

Kestra Advisory Services LLC grew its position in shares of Chevron Corporation (NYSE:CVX - Free Report) by 5.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 343,030 shares of the oil and gas company's stock after buying an additional 16,625 shares during the period. Kestra Advisory Services LLC's holdings in Chevron were worth $70,973,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Money Concepts Capital Corp lifted its stake in shares of Chevron by 3.2% during the 1st quarter. Money Concepts Capital Corp now owns 11,403 shares of the oil and gas company's stock valued at $2,359,000 after buying an additional 356 shares in the last quarter. Fidelity D & D Bancorp Inc. grew its stake in Chevron by 2.7% in the 1st quarter. Fidelity D & D Bancorp Inc. now owns 3,671 shares of the oil and gas company's stock valued at $760,000 after buying an additional 96 shares in the last quarter. Azzad Asset Management Inc. ADV raised its holdings in Chevron by 1.6% during the 1st quarter. Azzad Asset Management Inc. ADV now owns 18,141 shares of the oil and gas company's stock valued at $3,753,000 after acquiring an additional 281 shares during the period. Resona Asset Management Co. Ltd. raised its holdings in Chevron by 1.1% during the 1st quarter. Resona Asset Management Co. Ltd. now owns 625,008 shares of the oil and gas company's stock valued at $129,771,000 after acquiring an additional 6,851 shares during the period. Finally, Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. purchased a new stake in shares of Chevron during the first quarter worth $187,000. Institutional investors own 72.42% of the company's stock.

Analysts Set New Price Targets

A number of research firms have weighed in on CVX. Barclays lifted their target price on Chevron from $192.00 to $213.00 and gave the company an "equal weight" rating in a report on Tuesday, May 26th. UBS Group reissued a "buy" rating on shares of Chevron in a report on Tuesday, June 23rd. Royal Bank Of Canada restated an "outperform" rating and issued a $220.00 price objective on shares of Chevron in a research report on Tuesday, May 5th. Citigroup boosted their price objective on shares of Chevron from $210.00 to $235.00 and gave the company a "buy" rating in a research note on Thursday, April 2nd. Finally, BNP Paribas Exane raised shares of Chevron from a "neutral" rating to an "outperform" rating and set a $174.00 target price on the stock in a report on Friday, April 17th. Nineteen analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $205.71.

Chevron Stock Down 1.1%

Shares of Chevron stock opened at $174.05 on Friday. 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 12-month low of $146.49 and a 12-month high of $214.71. The company has a market cap of $346.64 billion, a P/E ratio of 30.16, a PEG ratio of 0.60 and a beta of 0.50. The company's fifty day simple moving average is $182.23 and its two-hundred day simple moving average is $181.32.

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, beating analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $51.86 billion. During the same quarter last year, the business posted $2.18 EPS. The firm's revenue for the quarter was up 2.1% compared to the same quarter last year. Research analysts anticipate that Chevron Corporation will post 15.28 EPS for the current year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Tuesday, May 19th were paid a $1.78 dividend. This represents a $7.12 annualized dividend and a dividend yield of 4.1%. The ex-dividend date was Tuesday, May 19th. Chevron's dividend payout ratio is currently 123.40%.

Key Stories Impacting Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Bank of America reportedly sees Chevron as a preferred way to play a potential crude price surge if tensions around the Strait of Hormuz keep oil prices elevated. CVX Stock Has A New Bull Case — Why Bank Of America Favors Chevron Over Exxon As Hormuz Risks Push Oil Prices Higher
• Positive Sentiment: Chevron announced a licensing agreement for its enhanced oil recovery technology, which could boost shale production, improve recovery rates, and create a new commercialization avenue. Chevron offers rival drillers its chemical technology to boost shale oil output
• Positive Sentiment: Media coverage highlighted Chevron’s exposure to higher crude prices as geopolitical risk in the Middle East increased, improving the earnings outlook for integrated oil producers. Ceasefire Cracks, Oil Bounces: Why Exxon, Chevron Stocks Are Hot Again
• Neutral Sentiment: Several articles frame Chevron as a long-term dividend and blue-chip energy holding, but these are mostly opinion pieces rather than new catalysts. ExxonMobil vs. Chevron: Which Oil Dividend Stock is the Better Buy for a Lifetime of Passive Income
• Neutral Sentiment: Coverage around Chevron’s inclusion in the Dow and broader energy-sector technical signals may support investor interest, but they do not appear to be immediate stock-moving events. What Keeps Chevron NYSE: CVX in the Dow Jones Industrial Average?
• Negative Sentiment: Chevron was also mentioned in connection with a DOJ probe tied to allegations of oil-price gouging, which could add regulatory overhang even as higher oil prices improve profit potential. Chevron (CVX) Faces DOJ Probe As Iran Tensions Raise Record Profit Stakes
• Negative Sentiment: Chevron’s tanker used for CPC oil shipments was reportedly hit by a drone in the Black Sea, underscoring geopolitical and operational risk. Chevron tanker used for CPC oil hit by drone in Black Sea

Insider Activity

In related news, Director John B. Hess sold 380,000 shares of the company's stock in a transaction that occurred on Wednesday, May 20th. The stock was 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 of the company's stock, valued at approximately $53,718,294. This represents a 57.75% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.56% of the company's stock.

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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