RF&L Wealth Management LLC Buys 6,320 Shares of Chevron Corporation $CVX

Key Points

• RF&L Wealth Management boosted its stake in Chevron (NYSE: CVX) by 438.9% in Q4, buying an additional 6,320 shares for a total holding of 7,760 shares valued at about $1.18 million.
• Significant insider selling has occurred recently—insiders sold 1,099,397 shares in the last 90 days (about $196.2 million), including sales by Vice Chairman Mark A. Nelson (139,600 shares) and R. Hewitt Pate (47,200 shares), leaving insiders with just 0.20% ownership.
• Analysts show a mixed view with a consensus rating of “Hold” and a $184.77 price target, while Chevron raised its quarterly dividend to $1.78 ($7.12 annualized) for a ~3.5% yield despite a high payout ratio of 106.91%.

RF&L Wealth Management LLC grew its stake in Chevron Corporation (NYSE:CVX - Free Report) by 438.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,760 shares of the oil and gas company's stock after buying an additional 6,320 shares during the period. RF&L Wealth Management LLC's holdings in Chevron were worth $1,183,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Perigon Wealth Management LLC raised its stake in Chevron by 19.3% during the third quarter. Perigon Wealth Management LLC now owns 73,448 shares of the oil and gas company's stock worth $11,406,000 after buying an additional 11,875 shares during the last quarter. Brooklyn FI LLC bought a new stake in Chevron during the third quarter valued at $431,000. New York State Teachers Retirement System boosted its position in Chevron by 15.3% during the third quarter. New York State Teachers Retirement System now owns 1,620,231 shares of the oil and gas company's stock valued at $251,606,000 after acquiring an additional 215,345 shares during the last quarter. Finemark National Bank & Trust grew its holdings in Chevron by 40.3% during the 3rd quarter. Finemark National Bank & Trust now owns 56,535 shares of the oil and gas company's stock worth $8,779,000 after acquiring an additional 16,243 shares during the period. Finally, Pictet North America Advisors SA acquired a new stake in Chevron during the 3rd quarter worth about $5,662,000. 72.42% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

CVX has been the topic of a number of recent analyst reports. TD Cowen boosted their price objective on Chevron from $160.00 to $168.00 and gave the company a "hold" rating in a research note on Monday, February 2nd. Wall Street Zen raised Chevron from a "sell" rating to a "hold" rating in a research note on Saturday, January 31st. Mizuho lifted their target price on Chevron from $206.00 to $217.00 and gave the stock an "outperform" rating in a report on Tuesday, March 17th. Freedom Capital lowered Chevron from a "hold" rating to a "strong sell" rating in a research note on Tuesday, January 6th. Finally, Morgan Stanley cut their price target on Chevron from $180.00 to $174.00 and set an "overweight" rating on the stock in a report on Friday, January 23rd. Fourteen analysts have rated the stock with a Buy rating, six have given a Hold rating and four have given a Sell rating to the company's stock. According to data from MarketBeat.com, Chevron has a consensus rating of "Hold" and a consensus price target of $184.77.

Trending Headlines about Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: CEO Mike Wirth warned at CERAWeek that markets are underestimating the supply shock from the Strait of Hormuz closure, saying futures trade on “scant information” and that physical supply recovery will take time — comments that support a higher-oil-price thesis and boost Chevron’s near-term revenue outlook. Energy Markets Should Be More Worried, Chevron's CEO Says
• Positive Sentiment: Multiple reports (CNBC, Reuters, Fortune) echoed Wirth’s message that the market hasn’t fully priced Iran-related disruptions — reinforcing trader flows into oil names and benefitting integrated producers like Chevron. Chevron CEO says Iran war impact isn't fully priced into oil market
• Positive Sentiment: Analysts and sector pieces are highlighting Chevron as a beneficiary of U.S. LNG export demand and global supply tightness, which supports longer-term cash generation beyond upstream crude exposure. 3 Best US LNG Stocks to Focus on Amid Global Supply Crunch
• Neutral Sentiment: Wirth said Chevron has raised Venezuelan output recently but that large-scale investment needs clearer legal/regulatory changes — a potential long-term upside if reforms stick, but uncertain and capital-intensive. Chevron CEO: More Groundwork Needed to Boost Venezuelan Oil Production
• Positive Sentiment: HSBC reportedly upgraded Chevron, which can lift investor sentiment and help support the rally amid energy-sector rotation. Chevron Upgraded at HSBC
• Negative Sentiment: Geopolitical easing headlines — notably reports the U.S. paused planned strikes and engaged in talks with Iran — triggered a sharp drop in oil prices earlier, which can pressure short-term sentiment for oil producers including Chevron. Trump Pauses Iran Energy Strikes for 5 Days

Insider Transactions at Chevron

In other news, Vice Chairman Mark A. Nelson sold 139,600 shares of the business's stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $187.92, for a total transaction of $26,233,632.00. Following the completion of the sale, the insider owned 11,337 shares in the company, valued at $2,130,449.04. The trade was a 92.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider R. Hewitt Pate sold 47,200 shares of the company's stock in a transaction that occurred on 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 in the company, valued at $1,644,162.96. The trade was a 84.65% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 1,099,397 shares of company stock valued at $196,196,468. Company insiders own 0.20% of the company's stock.

Chevron Price Performance

Shares of NYSE CVX opened at $205.12 on Tuesday. The firm has a market capitalization of $409.30 billion, a P/E ratio of 30.80, a P/E/G ratio of 1.87 and a beta of 0.67. The firm's 50-day moving average price is $182.17 and its 200-day moving average price is $163.78. The company has a current ratio of 1.15, a quick ratio of 0.86 and a debt-to-equity ratio of 0.21. Chevron Corporation has a 1-year low of $132.04 and a 1-year high of $205.36.

Chevron (NYSE:CVX - Get Free Report) last issued its earnings results on Friday, January 30th. The oil and gas company reported $1.52 EPS for the quarter, beating the consensus estimate of $1.44 by $0.08. Chevron had a return on equity of 7.89% and a net margin of 6.51%.The company had revenue of $45.79 billion during the quarter, compared to the consensus estimate of $48.18 billion. During the same period last year, the business posted $2.06 EPS. The firm's revenue for the quarter was down 10.2% compared to the same quarter last year. Equities research analysts anticipate that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 10th. Shareholders of record on Tuesday, February 17th were paid a $1.78 dividend. This represents a $7.12 dividend on an annualized basis and a yield of 3.5%. This is a boost from Chevron's previous quarterly dividend of $1.71. The ex-dividend date of this dividend was Tuesday, February 17th. Chevron's payout ratio is 106.91%.

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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