Lockheed Martin Investment Management Co. Boosts Holdings in Chevron Corporation $CVX

Key Points

• Lockheed Martin Investment Management Co. increased its Chevron stake by 12.4% in the fourth quarter, ending with 51,000 shares worth about $7.77 million.
• Chevron reported mixed quarterly results: EPS of $1.41 beat analyst expectations, but revenue of $47.56 billion came in below estimates.
• The company also announced a quarterly dividend of $1.78 per share, equal to an annualized yield of 3.7%, while several analysts maintained mostly bullish ratings with an average target price of $204.13.

Lockheed Martin Investment Management Co. grew its holdings in shares of Chevron Corporation (NYSE:CVX - Free Report) by 12.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 51,000 shares of the oil and gas company's stock after acquiring an additional 5,620 shares during the quarter. Lockheed Martin Investment Management Co.'s holdings in Chevron were worth $7,773,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Chevron by 17.9% during the third quarter. Vanguard Group Inc. now owns 183,790,028 shares of the oil and gas company's stock valued at $28,540,753,000 after buying an additional 27,961,463 shares during the last quarter. State Street Corp lifted its stake in shares of Chevron by 9.1% in the 3rd quarter. State Street Corp now owns 152,605,988 shares of the oil and gas company's stock valued at $23,698,184,000 after acquiring an additional 12,789,399 shares during the last quarter. Primecap Management Co. CA bought a new stake in shares of Chevron in the 3rd quarter valued at about $988,083,000. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Chevron by 822.0% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 6,211,258 shares of the oil and gas company's stock valued at $946,658,000 after acquiring an additional 5,537,580 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in shares of Chevron by 27.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 19,627,146 shares of the oil and gas company's stock valued at $3,047,900,000 after acquiring an additional 4,279,918 shares during the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Trading Up 2.3%

NYSE:CVX opened at $190.91 on Friday. The company has a fifty day moving average of $193.14 and a 200 day moving average of $173.26. Chevron Corporation has a 52 week low of $133.77 and a 52 week high of $214.71. The company has a quick ratio of 0.84, a current ratio of 1.09 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $380.22 billion, a P/E ratio of 33.09, a P/E/G ratio of 0.64 and a beta of 0.51.

Chevron (NYSE:CVX - Get Free Report) last posted its quarterly 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 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 period in the prior year, the business posted $2.18 EPS. The firm's revenue was up 2.1% compared to the same quarter last year. On average, research analysts predict that Chevron Corporation will post 15.23 earnings per share for the current year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Shareholders of record on Tuesday, May 19th will be given a dividend of $1.78 per share. This represents a $7.12 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date of this dividend is Tuesday, May 19th. Chevron's payout ratio is presently 123.40%.

Trending Headlines about Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron agreed to sell its Singapore refining stake and other Asia-Pacific downstream assets to ENEOS for roughly $2.17 billion, reinforcing its strategy to streamline the portfolio and potentially improve returns. Reuters article on ENEOS buying Chevron assets
• Positive Sentiment: Another report framed Chevron’s recent earnings as less weak than the headline numbers suggested, noting that the company’s share price did not fall sharply after the results, which may indicate investors are focusing on underlying cash generation and strategic actions rather than the revenue miss. Yahoo Finance article on Chevron earnings
• Neutral Sentiment: Market commentary this week also compared Chevron with TotalEnergies and discussed broader oil-sector themes, but those pieces were more about sector positioning than a direct new fundamental change for Chevron. Motley Fool comparison article
• Negative Sentiment: Chevron’s latest quarter was mixed, with earnings per share beating estimates but revenue coming in below expectations, which could temper enthusiasm if investors refocus on operating performance rather than asset sales. Chevron stock background

Analyst Ratings Changes

A number of research firms have recently weighed in on CVX. BNP Paribas Exane raised Chevron from a "neutral" rating to an "outperform" rating and set a $174.00 target price for the company in a research note on Friday, April 17th. Bank of America boosted their target price on Chevron from $188.00 to $206.00 and gave the company a "buy" rating in a research note on Monday, March 2nd. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $216.00 target price on shares of Chevron in a research note on Wednesday, May 6th. Scotiabank upped their price target on shares of Chevron from $168.00 to $187.00 and gave the company a "sector perform" rating in a report on Wednesday, April 22nd. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Chevron in a report on Wednesday, January 21st. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Chevron currently has an average rating of "Moderate Buy" and an average target price of $204.13.

Insider Buying and Selling at Chevron

In other Chevron news, insider R. Hewitt Pate sold 58,000 shares of the business's stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $188.65, for a total transaction of $10,941,700.00. Following the transaction, the insider directly owned 8,558 shares of the company's stock, valued at approximately $1,614,466.70. The trade was a 87.14% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John B. Hess sold 195,000 shares of the business's stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $184.78, for a total transaction of $36,032,100.00. Following the transaction, the director directly owned 658,045 shares in the company, valued at approximately $121,593,555.10. The trade was a 22.86% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 803,570 shares of company stock worth $151,969,798. 0.56% of the stock is owned by corporate insiders.

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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