Logan Capital Management Inc. Lowers Stock Position in Chevron Corporation $CVX

Key Points

• Logan Capital Management cut its Chevron stake by 10.9% in the fourth quarter, leaving it with 135,575 shares worth about $20.7 million. Even after the sale, Chevron remained its 25th-largest holding.
• Chevron’s recent operational and market backdrop looks mixed but generally supportive: its Tengiz expansion is seen as a major growth driver, analysts have raised some earnings estimates, and higher crude prices/geopolitical tensions have been boosting oil stocks.
• There are also some cautionary signals, including a Zacks downgrade from strong-buy to hold and notable insider selling, while the stock still carries a Moderate Buy consensus with an average price target of $205.70.

Logan Capital Management Inc. decreased its position in Chevron Corporation (NYSE:CVX - Free Report) by 10.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 135,575 shares of the oil and gas company's stock after selling 16,572 shares during the period. Chevron comprises 0.9% of Logan Capital Management Inc.'s investment portfolio, making the stock its 25th biggest position. Logan Capital Management Inc.'s holdings in Chevron were worth $20,663,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of CVX. Dakota Wealth Management lifted its stake in shares of Chevron by 14.9% in the fourth quarter. Dakota Wealth Management now owns 83,265 shares of the oil and gas company's stock worth $12,690,000 after buying an additional 10,822 shares in the last quarter. Brooklyn FI LLC purchased a new stake in Chevron during the 3rd quarter valued at about $431,000. Clear Trail Advisors LLC acquired a new stake in Chevron in the 4th quarter valued at about $10,167,000. Finemark National Bank & Trust raised its holdings in Chevron by 40.3% in 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 acquiring an additional 16,243 shares during the last quarter. Finally, Curtis Advisory Group LLC purchased a new position in Chevron in the 4th quarter worth approximately $1,381,000. 72.42% of the stock is owned by hedge funds and other institutional investors.

Key Headlines Impacting Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron’s Tengiz project expansion is being highlighted as a major growth driver, with output capacity rising to 1 million BOE/d and the asset expected to support cash flow, production growth and shareholder returns through 2030. How Investment in TCO Is Powering Chevron's Next Wave of Cash Growth
• Positive Sentiment: Analysts at Erste Group raised FY2027 EPS estimates for Chevron, signaling slightly better earnings expectations ahead.
• Positive Sentiment: Chevron was cited among oil stocks benefiting from higher crude prices and geopolitical tensions, which can improve upstream margins and near-term cash generation. Chevron Corporation (CVX) Benefited from Escalating Conflict in Iran
• Positive Sentiment: Market commentary and technical analysis described Chevron as showing relative strength, with bullish signals building toward a potential breakout. Chevron (CVX) Price Forecast: Bullish Signals Build Toward Breakout
• Neutral Sentiment: Chevron’s CFO was featured discussing how the finance team is using AI, which is more of a strategic/operations story than a direct stock-moving catalyst. Chevron’s CFO on why finance chiefs are defining AI’s business value
• Neutral Sentiment: Recent coverage also noted Chevron as a dividend and value-name favorite, reinforcing its defensive income appeal rather than changing the core investment thesis.
• Negative Sentiment: Zacks Research downgraded Chevron from strong-buy to hold, which may have added some pressure to the shares.

Insider Buying and Selling

In other news, Director John B. Hess sold 380,000 shares of the company's stock in a transaction that occurred on Wednesday, May 20th. The shares were 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 in the company, valued at approximately $53,718,294. This represents a 57.75% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider R. Hewitt Pate sold 40,200 shares of the stock in a transaction that occurred on Monday, March 30th. The stock was sold at an average price of $213.30, for a total transaction of $8,574,660.00. Following the transaction, the insider directly owned 8,638 shares of the company's stock, valued at $1,842,485.40. The trade was a 82.31% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 615,200 shares of company stock worth $118,022,760 over the last three months. Insiders own 0.56% of the company's stock.

Chevron Price Performance

CVX stock opened at $185.81 on Friday. Chevron Corporation has a 52-week low of $142.40 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 stock has a market cap of $370.05 billion, a price-to-earnings ratio of 32.20, a price-to-earnings-growth ratio of 0.63 and a beta of 0.48. The business has a fifty day moving average of $188.96 and a two-hundred day moving average of $178.00.

Chevron (NYSE:CVX - Get Free Report) last released its quarterly earnings results on Friday, May 1st. The oil and gas company reported $1.41 earnings per share for the quarter, topping analysts' consensus estimates of $1.00 by $0.41. The business had revenue of $47.56 billion during the quarter, compared to analysts' expectations of $51.86 billion. Chevron had a return on equity of 6.90% and a net margin of 5.79%.The company's revenue was up 2.1% compared to the same quarter last year. During the same period in the prior year, the business posted $2.18 EPS. As a group, research analysts anticipate that Chevron Corporation will post 15.74 earnings per share for the current year.

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Tuesday, May 19th were given a dividend of $1.78 per share. The ex-dividend date was Tuesday, May 19th. This represents a $7.12 dividend on an annualized basis and a dividend yield of 3.8%. Chevron's dividend payout ratio (DPR) is currently 123.40%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on CVX shares. Royal Bank Of Canada restated an "outperform" rating and set a $220.00 target price on shares of Chevron in a report on Tuesday, May 5th. HSBC upgraded Chevron from a "hold" rating to a "buy" rating and set a $215.00 price objective on the stock in a research report on Friday, March 20th. Scotiabank upped their target price on Chevron from $168.00 to $187.00 and gave the company a "sector perform" rating in a report on Wednesday, April 22nd. Tudor Pickering upgraded Chevron from a "hold" rating to a "buy" rating and set a $225.00 price target on the stock in a report on Thursday, April 9th. Finally, Mizuho boosted their price target on shares of Chevron from $225.00 to $230.00 and gave the company an "outperform" rating in a research report on Wednesday, May 27th. Eighteen analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $205.70.

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.

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.