Spectrum Strategic Capital Management LLC Sells 6,089 Shares of Chevron Corporation $CVX

Key Points

• Spectrum Strategic Capital Management cut its Chevron stake by 43.5% in the fourth quarter, selling 6,089 shares and leaving it with 7,894 shares worth about $1.2 million.
• Chevron recently reported mixed quarterly results: EPS beat estimates at $1.41, but revenue of $47.56 billion came in below expectations. Shares were little changed, suggesting investors may be focusing more on cash generation and strategic moves.
• The company also announced a quarterly dividend of $1.78 per share, equal to a 3.7% yield, while analysts remain broadly positive with a Moderate Buy consensus and an average price target of $204.13.

Spectrum Strategic Capital Management LLC trimmed its holdings in shares of Chevron Corporation (NYSE:CVX - Free Report) by 43.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,894 shares of the oil and gas company's stock after selling 6,089 shares during the quarter. Spectrum Strategic Capital Management LLC's holdings in Chevron were worth $1,203,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in CVX. Strategic Wealth Advisors LLC bought a new position in Chevron during the fourth quarter worth $33,000. Daytona Street Capital LLC bought a new position in Chevron during the fourth quarter worth $44,000. Maseco LLP bought a new position in Chevron during the fourth quarter worth $49,000. Turning Point Benefit Group Inc. bought a new position in Chevron during the third quarter worth $49,000. Finally, High Point Wealth Management LLC bought a new position in Chevron during the fourth quarter worth $53,000. 72.42% of the stock is owned by institutional investors.

Key Stories Impacting Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron agreed to sell its Singapore refining stake and other Asia-Pacific downstream assets to ENEOS for roughly $2.17 billion, reinforcing its strategy to streamline the portfolio and potentially improve returns. Reuters article on ENEOS buying Chevron assets
• Positive Sentiment: Another report framed Chevron’s recent earnings as less weak than the headline numbers suggested, noting that the company’s share price did not fall sharply after the results, which may indicate investors are focusing on underlying cash generation and strategic actions rather than the revenue miss. Yahoo Finance article on Chevron earnings
• Neutral Sentiment: Market commentary this week also compared Chevron with TotalEnergies and discussed broader oil-sector themes, but those pieces were more about sector positioning than a direct new fundamental change for Chevron. Motley Fool comparison article
• Negative Sentiment: Chevron’s latest quarter was mixed, with earnings per share beating estimates but revenue coming in below expectations, which could temper enthusiasm if investors refocus on operating performance rather than asset sales. Chevron stock background

Insider Buying and Selling at Chevron

In related news, Vice Chairman Mark A. Nelson sold 139,600 shares of the company's 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 sale, the insider owned 11,337 shares in the company, valued at $2,130,449.04. This represents a 92.49% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Michael K. Wirth sold 272,624 shares of Chevron stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $189.35, for a total value of $51,621,354.40. Following the transaction, the chief executive officer owned 31,266 shares of the company's stock, valued at $5,920,217.10. This trade represents a 89.71% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 803,570 shares of company stock valued at $151,969,798 over the last 90 days. Insiders own 0.56% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on CVX shares. HSBC raised 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. Barclays lifted their target price on shares of Chevron from $180.00 to $192.00 and gave the stock an "equal weight" rating in a research note on Monday, May 4th. JPMorgan Chase & Co. raised shares of Chevron from a "neutral" rating to an "overweight" rating and set a $176.00 target price for the company in a research note on Tuesday, January 20th. BNP Paribas Exane raised shares of Chevron from a "neutral" rating to an "outperform" rating and set a $174.00 target price for the company in a research note on Friday, April 17th. Finally, Bank of America lifted their target price on shares of Chevron from $188.00 to $206.00 and gave the stock a "buy" rating in a research note on Monday, March 2nd. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Chevron has an average rating of "Moderate Buy" and an average price target of $204.13.

Chevron Stock Down 0.1%

Shares of NYSE CVX opened at $190.91 on Monday. The firm has a market cap of $380.22 billion, a PE ratio of 33.09, a P/E/G ratio of 0.64 and a beta of 0.51. Chevron Corporation has a 12-month low of $133.77 and a 12-month high of $214.71. The company's fifty day simple moving average is $193.14 and its 200 day simple moving average is $173.38. The company has a quick ratio of 0.84, a current ratio of 1.09 and a debt-to-equity ratio of 0.21.

Chevron (NYSE:CVX - Get Free Report) last issued its earnings results on Friday, May 1st. The oil and gas company reported $1.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.41. The business had revenue of $47.56 billion for the quarter, compared to analyst estimates of $51.86 billion. Chevron had a net margin of 5.79% and a return on equity of 6.90%. Chevron's revenue was up 2.1% on a year-over-year basis. During the same period in the prior year, the firm earned $2.18 earnings per share. As a group, sell-side analysts forecast that Chevron Corporation will post 15.43 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Tuesday, May 19th will be paid a dividend of $1.78 per share. The ex-dividend date of this dividend is Tuesday, May 19th. This represents a $7.12 annualized dividend and a yield of 3.7%. Chevron's dividend payout ratio is currently 123.40%.

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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