One Capital Management LLC Acquires 6,099 Shares of Chevron Corporation $CVX

Key Points

• One Capital Management LLC increased its Chevron stake by 6.3% in the fourth quarter, adding 6,099 shares and bringing its total holdings to 102,899 shares valued at about $15.7 million.
• Chevron reported better-than-expected quarterly earnings with EPS of $1.41 versus the $1.00 consensus estimate, though revenue of $47.56 billion came in below analyst expectations and was down from the prior year’s EPS.
• The company reiterated its shareholder returns and market support through a quarterly dividend of $1.78 per share, while analysts maintain a Moderate Buy consensus with an average price target of $205.70.

One Capital Management LLC raised its holdings in shares of Chevron Corporation (NYSE:CVX - Free Report) by 6.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 102,899 shares of the oil and gas company's stock after acquiring an additional 6,099 shares during the quarter. One Capital Management LLC's holdings in Chevron were worth $15,683,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Dakota Wealth Management increased its holdings 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 worth $12,690,000 after purchasing an additional 10,822 shares during the last quarter. Brooklyn FI LLC bought a new stake in shares of Chevron in the third quarter worth about $431,000. Clear Trail Advisors LLC bought a new stake in shares of Chevron in the fourth quarter worth about $10,167,000. Finemark National Bank & Trust increased its holdings in shares of Chevron by 40.3% in the third quarter. Finemark National Bank & Trust now owns 56,535 shares of the oil and gas company's stock worth $8,779,000 after purchasing an additional 16,243 shares during the last quarter. Finally, Curtis Advisory Group LLC bought a new stake in shares of Chevron in the fourth quarter worth about $1,381,000. 72.42% of the stock is owned by institutional investors.

Chevron Stock Up 1.7%

Shares of NYSE:CVX opened at $185.58 on Tuesday. Chevron Corporation has a 1 year low of $136.43 and a 1 year high of $214.71. The business has a 50 day simple moving average of $191.96 and a two-hundred day simple moving average of $176.04. The firm has a market capitalization of $369.60 billion, a PE ratio of 32.16, a price-to-earnings-growth ratio of 0.60 and a beta of 0.48. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.09 and a quick ratio of 0.84.

Chevron (NYSE:CVX - Get Free Report) last announced its earnings results on Friday, May 1st. The oil and gas company reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business earned $2.18 earnings per share. The company's revenue for the quarter was up 2.1% compared to the same quarter last year. On average, equities analysts predict that Chevron Corporation will post 15.74 EPS for the current year.

Chevron Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on CVX shares. Sanford C. Bernstein reduced their target price on Chevron from $216.00 to $204.00 and set a "market perform" rating on the stock in a report on Monday, May 11th. HSBC raised Chevron from a "hold" rating to a "buy" rating and set a $215.00 price objective on the stock in a research note on Friday, March 20th. Melius Research raised Chevron from a "hold" rating to a "buy" rating and set a $205.00 price objective on the stock in a research note on Tuesday, February 17th. Bank of America boosted their price objective on Chevron from $188.00 to $206.00 and gave the stock a "buy" rating in a research note on Monday, March 2nd. Finally, Barclays boosted their price objective on Chevron from $192.00 to $213.00 and gave the stock an "equal weight" rating in a research note on Tuesday, May 26th. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $205.70.

Chevron News Roundup

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Escalating Middle East tensions are lifting oil prices and raising the risk of supply disruptions, which could improve Chevron’s realized pricing and earnings. Exxon and Chevron Are Warning That Oil Prices Could Skyrocket in the Coming Weeks. Here's What That Could Mean for Investors.
• Positive Sentiment: Analysts are highlighting Chevron as a beneficiary of the Iran crisis, and one note recently raised the stock’s price target to $230, reflecting confidence in the company’s exposure to stronger crude markets. Here’s Why Chevron (CVX) is Among the 8 Best Natural Resources Stocks to Buy Now
• Neutral Sentiment: Recent commentary also points to Chevron’s underlying production growth as a long-term support factor, even though the latest quarter showed lower year-over-year earnings due to hedge timing effects. Chevron's Earnings Dropped Year Over Year, but Production Surged. Here's What Investors Need to Know.
• Neutral Sentiment: Chevron’s offshore expansion in Guyana and Greece underscores its growth strategy, but the market appears to be focusing more on near-term oil price and geopolitical catalysts today. Chevron Deepens Offshore Bets In Guyana And Greece As Risk Profile Shifts

Insider Activity at Chevron

In other Chevron 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider R. Hewitt Pate sold 47,200 shares of the business's stock in a transaction that occurred on Friday, March 6th. The shares were sold at an average price of $192.12, for a total value of $9,068,064.00. Following the transaction, the insider owned 8,558 shares of the company's stock, valued at $1,644,162.96. This trade represents a 84.65% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 662,400 shares of company stock valued at $127,090,824 in the last 90 days. Company insiders own 0.56% of the company's stock.

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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