McAlvany Wealth Management LLC Grows Stake in Chevron Corporation $CVX

Key Points

• McAlvany Wealth Management boosted its Chevron stake by 58.6% in the first quarter, buying 6,648 additional shares and bringing its total to 17,990 shares valued at about $3.79 million.
• Analysts remain largely positive on Chevron, with several recent upgrades and a consensus “Moderate Buy” rating, alongside an average price target of $206.83.
• Chevron reported stronger-than-expected quarterly earnings of $1.41 per share, though revenue came in below estimates; the company also paid a quarterly dividend of $1.78 per share, equal to a 3.8% yield.

McAlvany Wealth Management LLC increased its position in shares of Chevron Corporation (NYSE:CVX - Free Report) by 58.6% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 17,990 shares of the oil and gas company's stock after purchasing an additional 6,648 shares during the quarter. Chevron accounts for 2.4% of McAlvany Wealth Management LLC's investment portfolio, making the stock its 14th biggest holding. McAlvany Wealth Management LLC's holdings in Chevron were worth $3,791,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. Dakota Wealth Management grew its position 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 valued at $12,690,000 after purchasing an additional 10,822 shares during the last quarter. Clear Trail Advisors LLC purchased a new stake in Chevron in the 4th quarter valued at approximately $10,167,000. Curtis Advisory Group LLC purchased a new stake in Chevron in the 4th quarter valued at approximately $1,381,000. Indivisible Partners acquired a new stake in Chevron during the 4th quarter valued at $1,923,000. Finally, Cypress Wealth Services LLC grew its holdings in Chevron by 64.0% during the 4th quarter. Cypress Wealth Services LLC now owns 16,591 shares of the oil and gas company's stock valued at $2,529,000 after buying an additional 6,475 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Wolfe Research upgraded Chevron from a "peer perform" rating to an "outperform" rating and set a $210.00 price objective on the stock in a research report on Thursday, July 2nd. Zacks Research downgraded shares of Chevron from a "strong-buy" rating to a "hold" rating in a research note on Monday, June 8th. BNP Paribas Exane upgraded shares of Chevron from a "neutral" rating to an "outperform" rating and set a $174.00 target price on the stock in a report on Friday, April 17th. Sanford C. Bernstein decreased their price target on shares of Chevron from $216.00 to $204.00 and set a "market perform" rating on the stock in a research note on Monday, May 11th. Finally, Mizuho lifted their price target on shares of Chevron from $225.00 to $230.00 and gave the stock an "outperform" rating in a report on Wednesday, May 27th. Nineteen equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $206.83.

Key Headlines Impacting Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron is expected to sign accords with Iraq to advance investments in major oil fields, including West Qurna 2 and Nassiriya, which could expand long-term production opportunities. Reuters article on Iraq oilfield MOUs
• Positive Sentiment: Reports that Chevron is exploring a pipeline alternative to the Strait of Hormuz suggest a potential way to boost Iraqi export capacity and lower shipping disruption risk, which investors may view as strategically important. The Motley Fool article on Hormuz bypass pipeline
• Positive Sentiment: Chevron is being highlighted as a relatively attractive long-term energy stock versus TotalEnergies because of its premium assets, strong balance sheet, and steadier earnings outlook. Yahoo Finance article comparing CVX and TTE
• Neutral Sentiment: Some commentary says Chevron stock looks closer to fairly valued after a strong five-year run, which may limit upside for investors expecting a clear bargain. Yahoo Finance article on valuation
• Neutral Sentiment: Chevron also benefited from broader energy-sector gains, with the sector rising even as the wider market was mixed. Yahoo Finance sector update

Insider Buying and Selling at Chevron

In related news, Director John B. Hess sold 380,000 shares of the firm'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 sale, the director directly owned 278,045 shares of the company's stock, valued at approximately $53,718,294. This trade represents a 57.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.56% of the stock is currently owned by insiders.

Chevron Stock Performance

Chevron stock opened at $187.39 on Friday. The firm has a market capitalization of $373.21 billion, a P/E ratio of 32.48, a PEG ratio of 0.64 and a beta of 0.50. The stock has a fifty day moving average price of $181.54 and a 200 day moving average price of $182.44. Chevron Corporation has a 52 week low of $146.49 and a 52 week 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.

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 (EPS) for the quarter, topping 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 firm had revenue of $47.56 billion for the quarter, compared to analyst estimates of $51.86 billion. During the same period last year, the company earned $2.18 EPS. The firm's quarterly revenue was up 2.1% on a year-over-year basis. Equities research analysts anticipate that Chevron Corporation will post 14.83 earnings per share for the current year.

Chevron Announces Dividend

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

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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