Mach 1 Financial Group LLC Increases Stake in Chevron Corporation $CVX

Key Points

• Mach 1 Financial Group LLC increased its Chevron stake by 248.4% in the fourth quarter, ending with 11,858 shares valued at about $1.81 million.
• Chevron reported Q1 earnings of $1.41 per share, beating estimates, though revenue of $47.56 billion came in below expectations. Analysts currently rate the stock a Moderate Buy with an average target price of $204.13.
• The company declared a quarterly dividend of $1.78 per share for payment on June 10, implying an annualized yield of about 3.7%, while insiders have also been selling shares recently.

Mach 1 Financial Group LLC increased its holdings in shares of Chevron Corporation (NYSE:CVX - Free Report) by 248.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 11,858 shares of the oil and gas company's stock after buying an additional 8,454 shares during the period. Mach 1 Financial Group LLC's holdings in Chevron were worth $1,807,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of CVX. Strategic Wealth Advisors LLC purchased a new stake in shares of Chevron in the 4th quarter valued at approximately $33,000. Daytona Street Capital LLC purchased a new stake in shares of Chevron in the 4th quarter valued at approximately $44,000. Maseco LLP purchased a new stake in shares of Chevron in the 4th quarter valued at approximately $49,000. Turning Point Benefit Group Inc. purchased a new stake in shares of Chevron in the 3rd quarter valued at approximately $49,000. Finally, High Point Wealth Management LLC purchased a new stake in shares of Chevron in the 4th quarter valued at approximately $53,000. 72.42% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Andrew Benjamin Walz sold 11,600 shares of the stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $188.58, for a total transaction of $2,187,528.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Vice Chairman Mark A. Nelson sold 139,600 shares of the stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $187.92, for a total transaction of $26,233,632.00. Following the sale, the insider owned 11,337 shares of the company's stock, valued at approximately $2,130,449.04. This represents a 92.49% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 799,699 shares of company stock worth $151,259,517 over the last 90 days. 0.56% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Sanford C. Bernstein dropped their price objective on shares of Chevron from $216.00 to $204.00 and set a "market perform" rating on the stock in a research report on Monday, May 11th. Scotiabank increased their price objective on shares of Chevron from $168.00 to $187.00 and gave the company a "sector perform" rating in a research report on Wednesday, April 22nd. Mizuho increased their price objective on shares of Chevron from $206.00 to $217.00 and gave the company an "outperform" rating in a research report on Tuesday, March 17th. Bank of America upped their target price on shares of Chevron from $188.00 to $206.00 and gave the company a "buy" rating in a report on Monday, March 2nd. Finally, The Goldman Sachs Group restated a "buy" rating and issued a $216.00 target price on shares of Chevron in a report on Wednesday, May 6th. One equities 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 given a Sell rating to the company. Based on data from MarketBeat, Chevron has an average rating of "Moderate Buy" and an average target price of $204.13.

Chevron Trading Down 3.0%

Shares of Chevron stock opened at $191.39 on Thursday. The company has a fifty day simple moving average of $193.45 and a 200-day simple moving average of $174.25. Chevron Corporation has a 12-month low of $133.77 and a 12-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 stock has a market cap of $381.18 billion, a price-to-earnings ratio of 33.17, a PEG ratio of 0.66 and a beta of 0.51.

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

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Tuesday, May 19th will be paid 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 3.7%. Chevron's dividend payout ratio is currently 123.40%.

Key Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron agreed to sell several Asia Pacific refining and retail assets to Japan’s Eneos, a move expected to bring in about $2.17 billion and help streamline its international portfolio. Chevron Corporation (CVX) Poised for $2.17B Boost from Asia Pacific Asset Sale
• Positive Sentiment: Several analyst and market commentary pieces remain constructive on Chevron, with coverage citing stronger oil prices, attractive long-term energy exposure, and continued interest from income-focused investors. Oil Prices Are Rising and So Is Chevron Stock. It Can Keep Going.
• Positive Sentiment: Chevron is still benefiting from the broader energy trade, as higher crude prices and ongoing geopolitical tensions keep large integrated oil producers in focus. Oil Remains Above 100: Are Permian Stocks a Smart Bet Now?
• Neutral Sentiment: Trading activity has been elevated, and some reports say Chevron is consolidating after a recent run, which suggests investors are watching whether the stock can hold recent gains. CVX Volume Hits 14.56M as Chevron Pulls Back From $197.25
• Neutral Sentiment: Energy-stock comparisons and long-term buy/hold debates are keeping Chevron in the market conversation, but these pieces are mostly opinion-driven rather than new company-specific catalysts. ExxonMobil vs. Chevron: Better Energy Stock to Buy Now?
• Negative Sentiment: Chevron is facing shareholder and ESG scrutiny ahead of its May 27 annual meeting, as activists push investors to oppose a proposal tied to the company’s Israel operations. That adds a potential reputational and governance overhang. Chevron Israel Activism Puts ESG Risks And Valuation In Focus
• Negative Sentiment: Investors are also digesting Berkshire Hathaway’s continued trimming of its Chevron stake, which can be read as a sign of reduced conviction from a major long-term holder. Berkshire Hathaway Trims Stake in Chevron (CVX)

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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