O Shaughnessy Asset Management LLC Sells 34,407 Shares of Chevron Corporation $CVX

Key Points

• O Shaughnessy Asset Management cut its Chevron stake by 6.3% in the fourth quarter, selling 34,407 shares and ending with 515,314 shares valued at about $78.5 million.
• Insider selling has been notable, including major sales by R. Hewitt Pate and director John B. Hess, with insiders selling 615,200 shares worth roughly $118 million over the last 90 days.
• Wall Street remains broadly positive on Chevron, with an average rating of “Moderate Buy” and a consensus price target of $205.70, while the company also reported better-than-expected EPS and declared a quarterly dividend of $1.78 per share.

O Shaughnessy Asset Management LLC lowered its stake in Chevron Corporation (NYSE:CVX - Free Report) by 6.3% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 515,314 shares of the oil and gas company's stock after selling 34,407 shares during the quarter. O Shaughnessy Asset Management LLC's holdings in Chevron were worth $78,539,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Core Wealth Advisors LLC bought a new stake in Chevron in the fourth quarter valued at approximately $26,000. Strategic Wealth Advisors LLC bought a new position in shares of Chevron during the fourth quarter valued at approximately $33,000. Daytona Street Capital LLC bought a new position in shares of Chevron during the fourth quarter valued at approximately $44,000. Maseco LLP bought a new position in shares of Chevron during the fourth quarter valued at approximately $49,000. Finally, Turning Point Benefit Group Inc. bought a new position in shares of Chevron during the third quarter valued at approximately $49,000. Institutional investors own 72.42% of the company's stock.

Insider Buying and Selling at Chevron

In related news, insider R. Hewitt Pate sold 40,200 shares of the company's stock in a transaction on Monday, March 30th. The stock was sold at an average price of $213.30, for a total value of $8,574,660.00. Following the sale, the insider directly owned 8,638 shares of the company's stock, valued at $1,842,485.40. This represents a 82.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director John B. Hess sold 380,000 shares of the company's stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $193.20, for a total value of $73,416,000.00. Following the completion of the sale, the director directly owned 278,045 shares in the company, valued at approximately $53,718,294. The trade was a 57.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 615,200 shares of company stock worth $118,022,760. 0.56% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages recently commented on CVX. TD Cowen upped their target price on Chevron from $204.00 to $205.00 and gave the company a "hold" rating in a report on Friday, May 8th. Wells Fargo & Company upped their target price on Chevron from $204.00 to $222.00 and gave the company an "overweight" rating in a report on Thursday, April 9th. UBS Group upped their target price on Chevron from $218.00 to $220.00 and gave the company a "buy" rating in a report on Monday, May 4th. Weiss Ratings downgraded Chevron from a "hold (c+)" rating to a "hold (c)" rating in a report on Tuesday, June 2nd. Finally, BNP Paribas Exane upgraded Chevron from a "neutral" rating to an "outperform" rating and set a $174.00 target price for the company in a report on Friday, April 17th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Chevron presently has an average rating of "Moderate Buy" and a consensus target price of $205.70.

Chevron News Summary

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 Price Performance

Shares of CVX stock opened at $187.46 on Monday. The stock has a market cap of $373.35 billion, a price-to-earnings ratio of 32.49, a PEG ratio of 0.62 and a beta of 0.48. The business's fifty day moving average is $190.66 and its 200 day moving average is $176.97. Chevron Corporation has a twelve month low of $138.09 and a twelve month 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.

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 the consensus estimate of $1.00 by $0.41. The company had revenue of $47.56 billion for 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 firm's revenue for the quarter was up 2.1% on a year-over-year basis. During the same period in the prior year, the firm earned $2.18 earnings per share. Research analysts expect that Chevron Corporation will post 15.74 EPS for the current fiscal year.

Chevron Announces Dividend

The company 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 $1.78 dividend. This represents a $7.12 annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend is Tuesday, May 19th. Chevron's dividend payout ratio is presently 123.40%.

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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