Marble Wealth LLC Takes Position in Chevron Corporation $CVX

Key Points

• Marble Wealth LLC opened a new position in Chevron during the fourth quarter, buying 16,063 shares worth about $2.45 million.
• Insider selling has been notable, with company insiders selling 662,400 shares worth about $127.1 million over the last 90 days, including large sales by R. Hewitt Pate and Director John B. Hess.
• Analyst sentiment remains constructive: Chevron has a consensus rating of “Moderate Buy” with an average price target of $205.70, while the company also reported quarterly EPS above expectations and continues to pay a quarterly dividend of $1.78 per share.

Marble Wealth LLC purchased a new stake in Chevron Corporation (NYSE:CVX - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 16,063 shares of the oil and gas company's stock, valued at approximately $2,448,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Mccarter Private Wealth Services LLC increased its stake in shares of Chevron by 8.4% in the 4th quarter. Mccarter Private Wealth Services LLC now owns 21,730 shares of the oil and gas company's stock valued at $3,312,000 after purchasing an additional 1,676 shares during the last quarter. Rice Partnership LLC increased its stake in shares of Chevron by 0.6% in the 4th quarter. Rice Partnership LLC now owns 11,341 shares of the oil and gas company's stock valued at $1,729,000 after purchasing an additional 71 shares during the last quarter. Sequent Asset Management LLC boosted its holdings in shares of Chevron by 5.9% during the 4th quarter. Sequent Asset Management LLC now owns 2,439 shares of the oil and gas company's stock valued at $372,000 after acquiring an additional 136 shares in the last quarter. Greenwich Wealth Management LLC boosted its holdings in shares of Chevron by 16.8% during the 4th quarter. Greenwich Wealth Management LLC now owns 2,786 shares of the oil and gas company's stock valued at $425,000 after acquiring an additional 400 shares in the last quarter. Finally, Calton & Associates Inc. boosted its holdings in shares of Chevron by 3.8% during the 4th quarter. Calton & Associates Inc. now owns 13,127 shares of the oil and gas company's stock valued at $2,001,000 after acquiring an additional 486 shares in the last quarter. Institutional investors own 72.42% of the company's stock.

Insider Activity

In other news, insider R. Hewitt Pate sold 47,200 shares of the business's stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $192.12, for a total value of $9,068,064.00. Following the transaction, the insider directly owned 8,558 shares of the company's stock, valued at $1,644,162.96. The trade was a 84.65% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director John B. Hess sold 380,000 shares of the business's stock in a transaction dated 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 completion of the transaction, the director directly owned 278,045 shares in the company, valued at $53,718,294. This represents a 57.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 662,400 shares of company stock worth $127,090,824 over the last ninety days. Company insiders own 0.56% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. HSBC raised Chevron from a "hold" rating to a "buy" rating and set a $215.00 price objective on the stock in a report on Friday, March 20th. Sanford C. Bernstein cut their price objective on Chevron from $216.00 to $204.00 and set a "market perform" rating on the stock in a report on Monday, May 11th. Piper Sandler raised their price objective on Chevron from $179.00 to $242.00 and gave the company an "overweight" rating in a report on Thursday, March 12th. BNP Paribas Exane raised Chevron from a "neutral" rating to an "outperform" rating and set a $174.00 price objective on the stock in a report on Friday, April 17th. Finally, Bank of America raised their price objective on Chevron from $188.00 to $206.00 and gave the company a "buy" rating in a report on Monday, March 2nd. One 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 issued a Sell rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $205.70.

Trending Headlines about Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron is attracting fresh bullish research coverage, with several reports highlighting its earnings momentum, growth drivers, and valuation appeal. Barclays also raised its price target on Chevron to $213 from $192 while keeping an Equal Weight rating. Top Research Reports for Chevron, Goldman Sachs & Philip Morris
• Positive Sentiment: Chevron applied to join Argentina’s incentive regime for a $13.8 billion unconventional oil project in Vaca Muerta, signaling a major long-term investment that could expand production and future cash flow. Chevron applies for Argentina tax break program with $13.8 billion investment plan
• Positive Sentiment: Recent commentary also points to Chevron’s production growth and offshore expansion strategy, including its completed Hess acquisition in Guyana and new exploration ambitions in Greece, reinforcing the company’s reserve and output growth story. Chevron Deepens Offshore Bets In Guyana And Greece As Risk Profile Shifts

Chevron Stock Up 1.0%

Shares of CVX opened at $187.77 on Wednesday. The company has a market capitalization of $373.95 billion, a PE ratio of 32.54, a PEG ratio of 0.61 and a beta of 0.48. Chevron Corporation has a 12 month low of $136.60 and a 12 month high of $214.71. The stock's 50-day moving average price is $191.96 and its two-hundred day moving average price is $176.04. The company has a current ratio of 1.09, a quick ratio of 0.84 and a debt-to-equity ratio of 0.21.

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

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Shareholders of record on Tuesday, May 19th will be issued a dividend of $1.78 per share. The ex-dividend date of this dividend is Tuesday, May 19th. This represents a $7.12 annualized dividend and a yield of 3.8%. Chevron's payout ratio is presently 123.40%.

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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