LPL Financial LLC Boosts Stock Position in Chevron Corporation $CVX

Key Points

• LPL Financial LLC increased its Chevron stake by 0.9% in the fourth quarter, ending with 4.13 million shares valued at about $630.1 million.
• Chevron insiders have been selling shares recently, including director John B. Hess, who sold 380,000 shares for about $73.4 million; insiders have sold 615,200 shares over the last 90 days.
• Analysts remain mostly constructive on Chevron, with a consensus Moderate Buy rating and an average price target of $205.70, while the company also pays a quarterly dividend of $1.78 per share (3.8% annualized yield).

LPL Financial LLC boosted its holdings in shares of Chevron Corporation (NYSE:CVX - Free Report) by 0.9% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,134,009 shares of the oil and gas company's stock after purchasing an additional 35,099 shares during the quarter. LPL Financial LLC owned approximately 0.21% of Chevron worth $630,064,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of CVX. Core Wealth Advisors LLC purchased a new stake in Chevron during the 4th quarter worth approximately $26,000. Strategic Wealth Advisors LLC purchased a new stake in Chevron during the 4th quarter worth approximately $33,000. Daytona Street Capital LLC purchased a new stake in Chevron during the 4th quarter worth approximately $44,000. Maseco LLP purchased a new stake in Chevron during the 4th quarter worth approximately $49,000. Finally, Turning Point Benefit Group Inc. purchased a new stake in Chevron during the 3rd quarter worth approximately $49,000. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director John B. Hess sold 380,000 shares of the business'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 transaction of $73,416,000.00. Following the completion of the transaction, the director owned 278,045 shares in the company, valued at $53,718,294. The trade was a 57.75% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider R. Hewitt Pate sold 40,200 shares of the business's stock in a transaction that occurred 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 transaction, the insider owned 8,638 shares of the company's stock, valued at $1,842,485.40. This represents a 82.31% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 615,200 shares of company stock valued at $118,022,760 in the last 90 days. Insiders own 0.56% of the company's stock.

Analysts Set New Price Targets

Several research firms have issued reports on CVX. The Goldman Sachs Group restated a "buy" rating and set a $216.00 price objective on shares of Chevron in a report on Wednesday, May 6th. Piper Sandler boosted their price target on Chevron from $179.00 to $242.00 and gave the company an "overweight" rating in a report on Thursday, March 12th. Citigroup boosted their price target on Chevron from $210.00 to $235.00 and gave the company a "buy" rating in a report on Thursday, April 2nd. Weiss Ratings downgraded Chevron from a "hold (c+)" rating to a "hold (c)" rating in a report on Tuesday, June 2nd. Finally, Melius Research upgraded Chevron from a "hold" rating to a "buy" rating and set a $205.00 price target for the company in a report on Tuesday, February 17th. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $205.70.

Chevron Price Performance

Shares of NYSE CVX opened at $187.46 on Monday. Chevron Corporation has a twelve month low of $138.09 and a twelve month high of $214.71. The company has a current ratio of 1.09, a quick ratio of 0.84 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $373.35 billion, a price-to-earnings ratio of 32.49, a price-to-earnings-growth ratio of 0.62 and a beta of 0.48. The business has a 50 day simple moving average of $190.66 and a 200-day simple moving average of $176.97.

Chevron (NYSE:CVX - Get Free Report) last released its quarterly earnings data on Friday, May 1st. The oil and gas company reported $1.41 earnings per share (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 business had revenue of $47.56 billion during the quarter, compared to analyst estimates of $51.86 billion. During the same quarter in the previous year, the firm posted $2.18 EPS. The business's revenue for the quarter was up 2.1% compared to the same quarter last year. As a group, equities research analysts expect that Chevron Corporation will post 15.74 earnings per share for the current year.

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Investors 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 yield of 3.8%. Chevron's payout ratio is currently 123.40%.

Key Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Several recent articles highlight Chevron as a durable, low-beta energy name with resilient assets, strong cash flow, and a dependable dividend, which can attract buyers during volatile markets. 4 Best Low-Beta Stocks to Buy Right Away: LQDA, CVX, OXY & VLO
• Positive Sentiment: Chevron has outperformed its industry and sector over the past month, with commentary pointing to dividend growth and 2030 cash flow targets as reasons investors remain constructive. CVX Stock Outpaces Industry in a Month: Should Investors Stay Bullish?
• Positive Sentiment: Oil-stock forecasts remain supportive as conflict-related supply worries keep crude in focus, which tends to benefit Chevron through improved upstream pricing and sector rotation into energy. CVX, XOM and SHEL Forecasts – Oil Stocks in Focus as Conflict Continues
• Positive Sentiment: Street commentary also suggests Chevron is still a long-term hold, with articles calling it an “ultra-safe” dividend stock and saying its long-term prospects remain rosy. Got $3,000? 1 Ultra-Safe Dow Dividend Stock to Buy and Hold Forever
• Neutral Sentiment: Analyst notes show a mixed valuation picture: some targets were lifted modestly, but others say Chevron looks fully valued if oil prices ease, leaving the stock sensitive to commodity assumptions. How The Chevron (CVX) Story Is Shifting With New Analyst Targets And Oil Market Risks
• Negative Sentiment: One recent downgrade argued Chevron could be pressured if an Iran deal or easing geopolitical risk sends oil prices lower, which would reduce the stock’s near-term upside. Chevron Looks Fully Valued As An Iran Deal Could Send Oil Lower (Rating Downgrade)

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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