Saxon Interests Inc. Sells 5,745 Shares of Chevron Corporation $CVX

Key Points

• Saxon Interests Inc. cut its Chevron stake by 30.5% in the first quarter, selling 5,745 shares and leaving it with 13,104 shares worth about $2.71 million.
• Institutional ownership remains high, with big investors like State Street, Berkshire Hathaway, and others adding to Chevron positions; institutions now hold 72.42% of the stock.
• Analysts are moderately positive on Chevron, with 19 Buy ratings and an average target price of $205.71, while the stock also supports investors with a 4.0% dividend yield.

Saxon Interests Inc. lowered its holdings in Chevron Corporation (NYSE:CVX - Free Report) by 30.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,104 shares of the oil and gas company's stock after selling 5,745 shares during the period. Chevron comprises 0.9% of Saxon Interests Inc.'s holdings, making the stock its 24th largest position. Saxon Interests Inc.'s holdings in Chevron were worth $2,711,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. State Street Corp increased its position in Chevron by 9.1% in the third quarter. State Street Corp now owns 152,605,988 shares of the oil and gas company's stock worth $23,698,184,000 after buying an additional 12,789,399 shares during the last quarter. Berkshire Hathaway Inc lifted its position in shares of Chevron by 6.6% during the 4th quarter. Berkshire Hathaway Inc now owns 130,156,362 shares of the oil and gas company's stock valued at $19,837,131,000 after buying an additional 8,091,570 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Chevron by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 43,613,011 shares of the oil and gas company's stock worth $6,620,187,000 after acquiring an additional 134,890 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of Chevron by 2.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 36,036,844 shares of the oil and gas company's stock worth $5,492,377,000 after acquiring an additional 961,341 shares during the period. Finally, Norges Bank purchased a new stake in Chevron in the 4th quarter worth about $3,727,586,000. Institutional investors own 72.42% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on CVX. The Goldman Sachs Group restated a "buy" rating and issued a $216.00 price objective on shares of Chevron in a research note on Wednesday, May 6th. HSBC upgraded shares of Chevron from a "hold" rating to a "buy" rating and set a $215.00 target price for the company in a research note on Friday, March 20th. TD Cowen boosted their price target on shares of Chevron from $204.00 to $205.00 and gave the company a "hold" rating in a research report on Friday, May 8th. UBS Group restated a "buy" rating on shares of Chevron in a research note on Tuesday, June 23rd. Finally, Zacks Research downgraded shares of Chevron from a "strong-buy" rating to a "hold" rating in a report on Monday, June 8th. Nineteen research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, Chevron currently has an average rating of "Moderate Buy" and an average target price of $205.71.

Insider Buying and Selling

In related news, Director John B. Hess sold 380,000 shares of the company's stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $193.20, for a total transaction 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. This represents a 57.75% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.56% of the company's stock.

Chevron News Roundup

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron stock is benefiting from a jump in oil prices, which boosts expected upstream earnings and improves sentiment across the energy sector. Why Is Chevron Stock Gaining Wednesday?
• Positive Sentiment: Rising geopolitical tensions and the unraveling of the U.S.–Iran ceasefire have pushed crude and risk premiums higher, giving integrated oil names like Chevron a lift. Ceasefire Cracks, Oil Bounces: Why Exxon, Chevron Stocks Are Hot Again
• Positive Sentiment: Chevron announced it will offer rival drillers access to its chemical technology to help boost shale output, reinforcing its role in U.S. energy production and potentially creating a new commercialization opportunity. Chevron offers rival drillers its chemical technology to boost shale oil output
• Positive Sentiment: Chevron remains in focus for investors seeking dependable income, with articles highlighting its attractive dividend yield and its status as a preferred blue-chip energy holding. Chevron (CVX) – Among the 14 Best Blue Chip Dividend Stocks to Buy According to Hedge Funds
• Neutral Sentiment: Market commentary also notes Chevron’s stock has held up despite recent index removal and continuing debate over valuation, Guyana growth, and cash-flow durability. Chevron (CVX) Following Index Removal And Guyana Upgrades, Is The Valuation Case Intact?
• Neutral Sentiment: Coverage around Chevron’s AI-related energy demand exposure and a new technology licensing agreement with ZL Chemicals adds longer-term strategic interest, but these headlines are less likely to drive near-term trading than oil prices. Chevron NYSE: CVX Powers AI Demand Across Energy Markets Chevron, ZL Chemicals sign technology licensing agreement
• Negative Sentiment: Chevron also faced a negative operational headline after one of its tankers used for CPC shipments was reportedly hit by a drone in the Black Sea, which could raise transportation and geopolitical risk concerns. Chevron tanker used for CPC oil hit by drone in Black Sea

Chevron Stock Performance

Shares of CVX opened at $175.89 on Thursday. Chevron Corporation has a 52-week low of $146.49 and a 52-week high of $214.71. The stock's 50-day simple moving average is $182.51 and its 200 day simple moving average is $181.14. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.84 and a current ratio of 1.09. The stock has a market capitalization of $350.31 billion, a price-to-earnings ratio of 30.48, a price-to-earnings-growth ratio of 0.59 and a beta of 0.50.

Chevron (NYSE:CVX - Get Free Report) last posted its earnings results on Friday, May 1st. The oil and gas company reported $1.41 earnings per share for the quarter, beating analysts' consensus estimates 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 firm earned $2.18 EPS. The company's quarterly revenue was up 2.1% compared to the same quarter last year. Research analysts forecast that Chevron Corporation will post 15.28 EPS for the current fiscal year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Tuesday, May 19th were paid a dividend of $1.78 per share. The ex-dividend date of this dividend was Tuesday, May 19th. This represents a $7.12 annualized dividend and a yield of 4.0%. Chevron's payout ratio is currently 123.40%.

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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