Smithbridge Asset Management Inc. DE Sells 5,934 Shares of Chevron Corporation $CVX

Key Points

• Smithbridge Asset Management cut its Chevron stake by 42% in the first quarter, selling 5,934 shares and ending with 8,204 shares worth about $1.7 million.
• Chevron director John B. Hess sold 380,000 shares at $193.20 each, a transaction worth roughly $73.4 million, significantly reducing his personal holdings.
• Despite mixed price action, Chevron continues to draw analyst support: Wolfe Research upgraded the stock to Outperform, RBC Capital reiterated Buy, and the consensus rating remains Moderate Buy with an average target price of $205.71.

Smithbridge Asset Management Inc. DE lowered its holdings in Chevron Corporation (NYSE:CVX - Free Report) by 42.0% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,204 shares of the oil and gas company's stock after selling 5,934 shares during the period. Smithbridge Asset Management Inc. DE's holdings in Chevron were worth $1,697,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. Midwest Capital Advisors LLC bought a new position in shares of Chevron in the first quarter worth approximately $25,000. Core Wealth Advisors LLC bought a new stake in Chevron during the fourth quarter valued at approximately $26,000. Phillip James Consulting Co. bought a new stake in Chevron during the fourth quarter valued at approximately $26,000. Basso Capital Management L.P. bought a new stake in Chevron during the fourth quarter valued at approximately $27,000. Finally, Karpus Management Inc. purchased a new position in Chevron in the 4th quarter worth approximately $27,000. Institutional investors own 72.42% of the company's stock.

Insiders Place Their Bets

In other Chevron news, Director John B. Hess sold 380,000 shares of the company's stock in a transaction dated 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 completion of the sale, the director directly owned 278,045 shares in the company, valued at $53,718,294. This represents a 57.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.56% of the stock is owned by corporate insiders.

Chevron Stock Down 0.1%

Shares of NYSE CVX opened at $169.06 on Friday. The stock has a market capitalization of $336.71 billion, a P/E ratio of 29.30, a PEG ratio of 0.57 and a beta of 0.50. Chevron Corporation has a one year low of $145.58 and a one year high of $214.71. The firm's 50 day simple moving average is $183.31 and its two-hundred day simple moving average is $180.40. 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 quarterly earnings data on Friday, May 1st. The oil and gas company reported $1.41 earnings per share for the quarter, topping analysts' consensus estimates of $1.00 by $0.41. Chevron had a net margin of 5.79% and a return on equity of 6.90%. The firm had revenue of $47.56 billion during the quarter, compared to analyst estimates of $51.86 billion. During the same period in the previous year, the business posted $2.18 EPS. The business's quarterly revenue was up 2.1% on a year-over-year basis. As a group, analysts expect that Chevron Corporation will post 15.52 EPS for the current fiscal year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Tuesday, May 19th were paid a $1.78 dividend. The ex-dividend date of this dividend was Tuesday, May 19th. This represents a $7.12 annualized dividend and a yield of 4.2%. Chevron's payout ratio is currently 123.40%.

Chevron News Summary

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Wolfe Research upgraded Chevron to Outperform, saying the recent pullback has created an attractive entry point and that Chevron’s long-term free cash flow outlook is stronger than the market is pricing in. Wolfe Research upgrades Chevron to Outperform on strong cash flow outlook
• Positive Sentiment: RBC Capital also reaffirmed its Buy rating on Chevron, adding to the positive analyst tone around the stock. RBC Capital Reaffirms Their Buy Rating on Chevron (CVX)
• Neutral Sentiment: Several market updates highlighted Chevron’s strong cash generation, solid returns, and ongoing investor interest, while noting the stock may be near fair value rather than deeply discounted. Chevron (CVX) Stock Looks Near Fair Value With Strong Returns But Rich Earnings
• Neutral Sentiment: Chevron remains in focus ahead of its second-quarter earnings conference call later this month, which could become the next major catalyst for the shares. Advisory: Chevron Corporation's 2Q 2026 Earnings Conference Call and Webcast
• Negative Sentiment: A New York Post report said President Trump is pressuring Big Oil to lower gas prices ahead of the midterm elections, which could raise concerns about margin pressure or political scrutiny for Chevron and peers. Big Oil heads for biggest profits in years as Trump pushes for lower gas prices

Analyst Upgrades and Downgrades

CVX has been the topic of a number of research analyst reports. Wolfe Research raised shares of Chevron from a "peer perform" rating to an "outperform" rating and set a $210.00 price target on the stock in a report on Thursday. Zacks Research downgraded shares of Chevron from a "strong-buy" rating to a "hold" rating in a report on Monday, June 8th. The Goldman Sachs Group reiterated a "buy" rating and issued a $216.00 target price on shares of Chevron in a research report on Wednesday, May 6th. HSBC raised Chevron from a "hold" rating to a "buy" rating and set a $215.00 target price on the stock in a research note on Friday, March 20th. Finally, Morgan Stanley dropped their price target on Chevron from $214.00 to $210.00 and set an "overweight" rating for the company in a research note on Monday, June 29th. Nineteen analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Chevron presently has an average rating of "Moderate Buy" and a consensus target price of $205.71.

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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