R Squared Ltd Acquires New Shares in Chevron Corporation $CVX

Key Points

• R Squared Ltd opened a new position in Chevron, buying 10,962 shares worth about $2.27 million in the first quarter. Chevron now represents roughly 1.2% of the fund’s portfolio and is its 8th-largest holding.
• Wall Street sentiment on Chevron remains fairly positive, with 19 Buy ratings, six Holds, and one Sell. The stock’s consensus rating is Moderate Buy, with an average target price of $205.71.
• Chevron continues to show mixed fundamentals: it beat earnings estimates in the latest quarter, but revenue came in below forecasts. The company also paid a $1.78 quarterly dividend, implying a 4.1% yield.

R Squared Ltd bought a new position in shares of Chevron Corporation (NYSE:CVX - Free Report) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 10,962 shares of the oil and gas company's stock, valued at approximately $2,268,000. Chevron makes up approximately 1.2% of R Squared Ltd's portfolio, making the stock its 8th largest position.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Midwest Capital Advisors LLC acquired a new stake in shares of Chevron during the first quarter worth about $25,000. Phillip James Consulting Co. acquired a new position in shares of Chevron in the 4th quarter valued at approximately $26,000. Core Wealth Advisors LLC acquired a new position in shares of Chevron in the 4th quarter valued at approximately $26,000. Karpus Management Inc. bought a new stake in Chevron during the 4th quarter worth approximately $27,000. Finally, Basso Capital Management L.P. bought a new stake in Chevron during the 4th quarter worth approximately $27,000. 72.42% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CVX has been the topic of a number of research reports. Weiss Ratings lowered shares of Chevron from a "hold (c+)" rating to a "hold (c)" rating in a research note on Tuesday, June 2nd. Scotiabank increased their price objective on shares of Chevron from $168.00 to $187.00 and gave the stock a "sector perform" rating in a research report on Wednesday, April 22nd. TD Cowen raised their price objective on shares of Chevron from $204.00 to $205.00 and gave the stock a "hold" rating in a report on Friday, May 8th. Wells Fargo & Company boosted their price objective on shares of Chevron from $204.00 to $222.00 and gave the company an "overweight" rating in a research report on Thursday, April 9th. Finally, Sanford C. Bernstein reduced their target price on shares of Chevron from $216.00 to $204.00 and set a "market perform" rating for the company in a research note on Monday, May 11th. Nineteen research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $205.71.

Insider Buying and Selling at Chevron

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

Key Headlines Impacting Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Wolfe Research upgraded Chevron to Outperform, citing a stronger cash-flow outlook tied to the company’s expanding Guyana development and other long-term growth projects. This Analyst Just Upgraded Chevron Stock. Here's Why.
• Positive Sentiment: Investors are also viewing Chevron more favorably after recent coverage highlighted strengthening fundamentals, better project execution, and the company’s cash-generation potential from Guyana and gas-fired power deals. Should Chevron’s (CVX) Index Exit and Guyana Upgrade Reframe How Investors View Its Cash-Flow Story?
• Neutral Sentiment: Broader energy-sector commentary says oil is trading well below the $100 threshold, with OPEC production increases and recession concerns weighing on crude prices; that creates uncertainty for Chevron’s near-term earnings outlook. Oil’s $100 Threshold: What It Means for Energy Stocks Now
• Negative Sentiment: Political pressure is also building, with criticism from the Trump administration and California Gov. Gavin Newsom over gasoline prices and Big Oil’s pricing power, which could keep sentiment around Chevron cautious. Big Oil's Windfall Earnings Threaten to Reignite Trump's Price-Gouging Push Gavin Newsom Slams Chevron, Says Gas Prices Still 'Elevated' Due to Trump's 'Reckless' Iran War

Chevron Price Performance

NYSE CVX opened at $173.96 on Wednesday. The firm's 50 day moving average is $182.69 and its 200-day moving average is $180.94. The company has a quick ratio of 0.84, a current ratio of 1.09 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $346.46 billion, a PE ratio of 30.15, a price-to-earnings-growth ratio of 0.56 and a beta of 0.50. Chevron Corporation has a 12-month low of $146.49 and a 12-month high of $214.71.

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. Chevron had a net margin of 5.79% and a return on equity of 6.90%. The business had revenue of $47.56 billion during the quarter, compared to analysts' expectations of $51.86 billion. During the same quarter in the prior year, the company posted $2.18 earnings per share. The firm's revenue was up 2.1% on a year-over-year basis. Equities research analysts anticipate that Chevron Corporation will post 15.52 earnings per share for the current fiscal year.

Chevron Dividend Announcement

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 $1.78 dividend. The ex-dividend date was Tuesday, May 19th. This represents a $7.12 annualized dividend and a dividend yield of 4.1%. Chevron's dividend payout ratio (DPR) 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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