Savant Capital LLC Sells 27,879 Shares of Chevron Corporation $CVX

Key Points

• Savant Capital LLC cut its Chevron stake by 24.8% in the fourth quarter, selling 27,879 shares and leaving it with 84,455 shares valued at about $12.9 million.
• Despite mixed institutional moves, Chevron remains heavily owned by institutions, with 72.42% of shares held by institutional investors. Several firms either added to or initiated positions in the stock during the quarter.
• Wall Street sentiment is broadly positive: Chevron has a consensus rating of “Moderate Buy” and an average price target of $205.70, while its latest earnings beat EPS estimates even though revenue came in below expectations.

Savant Capital LLC reduced its holdings in shares of Chevron Corporation (NYSE:CVX - Free Report) by 24.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 84,455 shares of the oil and gas company's stock after selling 27,879 shares during the quarter. Savant Capital LLC's holdings in Chevron were worth $12,872,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Moors & Cabot Inc. lifted its position in shares of Chevron by 1.3% during the 4th quarter. Moors & Cabot Inc. now owns 99,901 shares of the oil and gas company's stock worth $15,226,000 after buying an additional 1,249 shares during the last quarter. Houlihan Financial Resource Group Ltd. lifted its position in shares of Chevron by 71.7% during the 4th quarter. Houlihan Financial Resource Group Ltd. now owns 4,247 shares of the oil and gas company's stock worth $705,000 after buying an additional 1,774 shares during the last quarter. Constant Guidance Financial LLC bought a new stake in shares of Chevron during the 4th quarter worth $1,297,000. Godfrey Financial Associates Inc. bought a new stake in shares of Chevron during the 4th quarter worth $79,000. Finally, IFG Advisory LLC lifted its position in shares of Chevron by 5.7% during the 4th quarter. IFG Advisory LLC now owns 16,785 shares of the oil and gas company's stock worth $2,558,000 after buying an additional 901 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

CVX has been the subject of several recent analyst reports. Tudor Pickering upgraded Chevron from a "hold" rating to a "buy" rating and set a $225.00 price objective for the company in a research report on Thursday, April 9th. Mizuho increased their target price on Chevron from $225.00 to $230.00 and gave the company an "outperform" rating in a research report on Wednesday. Scotiabank increased their target price on Chevron from $168.00 to $187.00 and gave the company a "sector perform" rating in a research report on Wednesday, April 22nd. Citigroup increased their target price on Chevron from $210.00 to $235.00 and gave the company a "buy" rating in a research report on Thursday, April 2nd. Finally, BMO Capital Markets reiterated an "outperform" rating and issued a $190.00 target price on shares of Chevron in a research report on Monday, February 2nd. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $205.70.

Trending Headlines about Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron CEO Mike Wirth warned that attacks on ships in the Strait of Hormuz highlight “very real” supply risks, reinforcing the case for tighter oil markets and potentially higher prices for Chevron’s production. Ships Attacked in Strait of Hormuz This Week, Chevron Says
• Positive Sentiment: Chevron and Exxon executives also warned that falling inventories could push oil higher, which would likely support Chevron’s cash flow and earnings if crude prices continue rising. Exxon, Chevron heads warn of higher oil prices amid falling inventories
• Positive Sentiment: Chevron filed to take a 70% stake in a Greek offshore gas block, signaling continued international expansion and a larger long-term resource base. Chevron files request to acquire offshore Greek block, energy ministry says
• Positive Sentiment: Chevron said it will not pay a toll to move ships through Hormuz, showing it is holding firm on operational and geopolitical terms while the region remains volatile. Chevron won't pay toll to move ships through Hormuz, CEO tells Bloomberg TV
• Neutral Sentiment: Chevron announced Scott A. Keller will become general counsel, while current chief legal officer R. Hewitt Pate’s retirement is expected later, a routine leadership transition with limited near-term operating impact. Chevron Names New General Counsel
• Neutral Sentiment: Market commentary and investor-interest pieces suggest Chevron remains on traders’ radar, but these items do not add major new fundamentals by themselves. Chevron Corporation (CVX) is Attracting Investor Attention: Here is What You Should Know
• Negative Sentiment: Oil prices softened on hopes for a U.S.-Iran truce extension, which could ease supply fears and weigh on Chevron shares if crude remains under pressure. Oil Prices Soften as Traders Bet on Renewal of US-Iran Truce
• Negative Sentiment: Draft ceasefire and shipping-normalization talks around the Strait of Hormuz could reduce the geopolitical risk premium embedded in oil prices, which may cap near-term upside for CVX. U.S. and Iran Reach Draft 60-Day Ceasefire and Nuclear Talks Framework Pending Trump Approval

Chevron Price Performance

Chevron stock opened at $182.44 on Friday. The company has a current ratio of 1.09, a quick ratio of 0.84 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $363.34 billion, a PE ratio of 31.62, a P/E/G ratio of 0.60 and a beta of 0.51. Chevron Corporation has a 12 month low of $135.21 and a 12 month high of $214.71. The stock has a 50-day moving average price of $192.27 and a two-hundred day moving average price of $175.69.

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

Chevron Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Tuesday, May 19th will be paid a $1.78 dividend. The ex-dividend date of this dividend is Tuesday, May 19th. This represents a $7.12 annualized dividend and a dividend yield of 3.9%. Chevron's dividend payout ratio is presently 123.40%.

Insider Buying and Selling

In other news, CEO Michael K. Wirth sold 272,624 shares of the stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $189.35, for a total value of $51,621,354.40. Following the completion of the sale, the chief executive officer owned 31,266 shares of the company's stock, valued at approximately $5,920,217.10. This represents a 89.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Vice Chairman Mark A. Nelson sold 139,600 shares of the stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $187.92, for a total value of $26,233,632.00. Following the completion of the sale, the insider directly owned 11,337 shares of the company's stock, valued at approximately $2,130,449.04. The trade was a 92.49% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 1,144,224 shares of company stock valued at $218,075,038. Corporate insiders own 0.56% of the company's stock.

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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