Strait & Sound Wealth Management LLC Invests $914,000 in Chevron Corporation $CVX

Key Points

• Strait & Sound Wealth Management opened a new Chevron position in the fourth quarter, buying 5,994 shares worth about $914,000.
• Chevron’s latest earnings report was mixed: it beat profit expectations with adjusted EPS of $1.41, but revenue fell short of Wall Street estimates.
• Despite near-term revenue pressure, analysts remain broadly constructive, with multiple firms raising price targets and Chevron continuing to offer a 3.9% dividend yield.

Strait & Sound Wealth Management LLC purchased a new position in shares of Chevron Corporation (NYSE:CVX - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 5,994 shares of the oil and gas company's stock, valued at approximately $914,000.

A number of other large investors also recently modified their holdings of the business. D.B. Root & Company LLC lifted its holdings in shares of Chevron by 1.0% during the fourth quarter. D.B. Root & Company LLC now owns 5,552 shares of the oil and gas company's stock worth $846,000 after buying an additional 57 shares during the last quarter. Cornerstone Planning Group LLC increased its position in shares of Chevron by 6.8% during the fourth quarter. Cornerstone Planning Group LLC now owns 930 shares of the oil and gas company's stock valued at $142,000 after purchasing an additional 59 shares during the period. MMA Asset Management LLC increased its position in shares of Chevron by 3.4% during the fourth quarter. MMA Asset Management LLC now owns 1,820 shares of the oil and gas company's stock valued at $277,000 after purchasing an additional 59 shares during the period. EWA LLC increased its position in shares of Chevron by 2.8% during the fourth quarter. EWA LLC now owns 2,182 shares of the oil and gas company's stock valued at $333,000 after purchasing an additional 59 shares during the period. Finally, Barlow Wealth Partners LLC increased its position in shares of Chevron by 1.1% during the fourth quarter. Barlow Wealth Partners LLC now owns 5,363 shares of the oil and gas company's stock valued at $869,000 after purchasing an additional 60 shares during the period. 72.42% of the stock is currently owned by institutional investors and hedge funds.

More Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron’s first-quarter results beat profit expectations, with adjusted EPS of $1.41 versus the $0.97 consensus, reinforcing the company’s ability to generate earnings even amid volatile energy markets. Chevron (CVX) Reports Q1 Earnings: What Key Metrics Have to Say
• Positive Sentiment: Goldman Sachs raised its price target on Chevron and kept a Buy rating, citing improved confidence in cash flow, production, and shareholder return plans after the earnings report. Goldman Sachs gives Chevron stock price new target after earnings
• Positive Sentiment: Multiple research notes and articles highlighted Chevron as a dividend aristocrat and a long-term value play, which can support investor interest in the stock. 3 ‘Strong Buy’ Dividend Aristocrat Stocks, 5/8/26
• Positive Sentiment: TD Cowen nudged its price target higher to $205 while maintaining a Hold rating, and Erste Group also lifted its FY2027 earnings estimate, signaling still-constructive expectations for Chevron’s earnings outlook. Chevron estimate and target updates
• Neutral Sentiment: Analysts and commentary also pointed to Chevron’s LNG strategy and South Asian export growth as a longer-term earnings driver, but this is more of a strategic backdrop than an immediate catalyst. Can Chevron's South Asian LNG Strategy Drive Long-Term Growth?
• Negative Sentiment: Despite the earnings beat, Chevron’s revenue came in below Wall Street estimates, which may be tempering enthusiasm and contributing to the stock’s weakness. Chevron (CVX) Reports Q1 Earnings: What Key Metrics Have to Say

Chevron Stock Performance

Shares of NYSE:CVX opened at $181.37 on Monday. The business's fifty day moving average price is $193.21 and its two-hundred day moving average price is $172.09. Chevron Corporation has a fifty-two week low of $133.77 and a fifty-two week high of $214.71. The stock has a market capitalization of $361.22 billion, a price-to-earnings ratio of 31.43, a price-to-earnings-growth ratio of 0.63 and a beta of 0.51. 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 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 firm had revenue of $47.56 billion for the quarter, compared to analysts' expectations of $51.86 billion. During the same period in the prior year, the business posted $2.18 earnings per share. The business's revenue was up 2.1% compared to the same quarter last year. As a group, analysts predict that Chevron Corporation will post 15.02 EPS for the current fiscal year.

Chevron Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on CVX shares. Royal Bank Of Canada restated an "outperform" rating and set a $220.00 price objective on shares of Chevron in a research report on Tuesday, May 5th. BMO Capital Markets restated an "outperform" rating and set a $190.00 price objective on shares of Chevron in a research report on Monday, February 2nd. JPMorgan Chase & Co. upgraded Chevron from a "neutral" rating to an "overweight" rating and set a $176.00 price objective on the stock in a research report on Tuesday, January 20th. Wells Fargo & Company boosted their price objective on Chevron from $204.00 to $222.00 and gave the company an "overweight" rating in a research report on Thursday, April 9th. Finally, HSBC upgraded Chevron from a "hold" rating to a "buy" rating and set a $215.00 price objective on the stock in a research report on Friday, March 20th. One 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 assigned a Sell rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $202.74.

Insider Transactions at Chevron

In other Chevron news, CEO Michael K. Wirth sold 272,624 shares of the company's stock in a transaction on 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 sale, the chief executive officer directly owned 31,266 shares in the company, valued at $5,920,217.10. This represents a 89.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Andrew Benjamin Walz sold 11,600 shares of the company's stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $188.58, for a total value of $2,187,528.00. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 816,439 shares of company stock valued at $154,339,900. 0.56% of the stock is owned by insiders.

About Chevron

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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