Keudell Morrison Wealth Management Invests $2.70 Million in Chevron Corporation $CVX

Key Points

• Keudell Morrison Wealth Management bought a new Chevron position in the fourth quarter, acquiring 17,687 shares valued at about $2.7 million.
• Chevron is seeing a mix of positive and negative catalysts, including a potential $2.17 billion asset sale in Asia Pacific and a scheduled investor appearance by CEO Mike Wirth, alongside political and ESG-related pressure.
• The company recently beat earnings expectations with $1.41 EPS, and it also announced a quarterly dividend of $1.78 per share, equal to a 3.7% annualized yield.

Keudell Morrison Wealth Management purchased a new position in shares of Chevron Corporation (NYSE:CVX - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 17,687 shares of the oil and gas company's stock, valued at approximately $2,696,000.

Several other hedge funds and other institutional investors have also modified their holdings of CVX. Strategic Wealth Advisors LLC acquired a new stake in shares of Chevron in the fourth quarter valued at $33,000. Daytona Street Capital LLC acquired a new stake in shares of Chevron in the fourth quarter valued at $44,000. Maseco LLP acquired a new stake in shares of Chevron in the fourth quarter valued at $49,000. Turning Point Benefit Group Inc. acquired a new stake in shares of Chevron in the third quarter valued at $49,000. Finally, High Point Wealth Management LLC acquired a new stake in shares of Chevron in the fourth quarter valued at $53,000. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Key Stories Impacting Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron could receive a meaningful cash infusion from the planned sale of several Asia Pacific refining and retail assets to Japan’s Eneos, with reports saying the deal may bring in about $2.17 billion as the company streamlines its global portfolio. Chevron Corporation (CVX) Poised for $2.17B Boost from Asia Pacific Asset Sale
• Positive Sentiment: Chevron also announced that CEO Mike Wirth will speak at Bernstein’s Strategic Decisions Conference on May 28, which keeps management in front of investors and may provide additional color on strategy, capital returns, and the asset-sale outlook. Advisory: Chevron to Participate in Fireside Q&A at Bernstein 42nd Annual Strategic Decisions Conference
• Neutral Sentiment: Chevron introduced next-generation Techron gasoline additive in the U.S., a product update that supports the brand and fuel quality narrative but is unlikely to move the stock materially on its own. Chevron Introduces Next-gen Techron in U.S. Chevron and Texaco Gasolines
• Negative Sentiment: California Governor Gavin Newsom publicly urged residents to “avoid Chevron,” accusing big oil companies of profiting from higher fuel prices tied to the Iran conflict, adding reputational and political pressure on the company. Gavin Newsom Warns Californians To 'Avoid Chevron,' Says Big Oil Is 'Making Billions Off Trump's Iran War'
• Negative Sentiment: Chevron is also facing ESG-related scrutiny ahead of its May 27 annual meeting, where activists are pushing shareholders to reject a proposal tied to Israel operations, raising the chance of more governance headlines. Chevron Israel Activism Puts ESG Risks And Valuation In Focus

Chevron Stock Down 0.1%

Chevron stock opened at $191.23 on Friday. Chevron Corporation has a 1-year low of $133.77 and a 1-year 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 stock has a market cap of $380.84 billion, a PE ratio of 33.14, a P/E/G ratio of 0.64 and a beta of 0.51. The stock's fifty day moving average is $193.55 and its two-hundred day moving average is $174.48.

Chevron (NYSE:CVX - Get Free Report) last posted 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 return on equity of 6.90% and a net margin of 5.79%.The business had revenue of $47.56 billion for the quarter, compared to analysts' expectations of $51.86 billion. During the same quarter in the previous year, the firm earned $2.18 earnings per share. The business's revenue was up 2.1% compared to the same quarter last year. On average, sell-side analysts expect that Chevron Corporation will post 15.43 EPS for the current fiscal year.

Chevron Announces Dividend

The company also recently announced 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 dividend on an annualized basis and a dividend yield of 3.7%. Chevron's payout ratio is 123.40%.

Insider Buying and Selling at Chevron

In other news, insider Andrew Benjamin Walz sold 11,600 shares of Chevron stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $188.58, for a total transaction of $2,187,528.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Michael K. Wirth sold 272,624 shares of Chevron stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $189.35, for a total value of $51,621,354.40. Following the sale, the chief executive officer owned 31,266 shares in the company, valued at $5,920,217.10. This trade represents a 89.71% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 799,699 shares of company stock valued at $151,259,517. 0.56% of the stock is owned by insiders.

Analyst Ratings Changes

Several analysts have recently issued reports on CVX shares. Mizuho increased their price objective on Chevron from $206.00 to $217.00 and gave the company an "outperform" rating in a research note on Tuesday, March 17th. BMO Capital Markets reiterated an "outperform" rating and issued a $190.00 price objective on shares of Chevron in a research note on Monday, February 2nd. The Goldman Sachs Group reiterated a "buy" rating and issued a $216.00 price objective on shares of Chevron in a research note on Wednesday, May 6th. Bank of America increased their price objective on Chevron from $188.00 to $206.00 and gave the company a "buy" rating in a research note on Monday, March 2nd. Finally, Piper Sandler increased their price objective on Chevron from $179.00 to $242.00 and gave the company an "overweight" rating in a research note on Thursday, March 12th. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $204.13.

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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