Thrivent Financial for Lutherans Sells 44,862 Shares of Chevron Corporation $CVX

Key Points

• Thrivent Financial for Lutherans cut its Chevron stake by 26.3% in the fourth quarter, selling 44,862 shares and leaving it with 125,471 shares valued at about $19.1 million.
• Chevron’s latest quarter was mixed: earnings per share of $1.41 beat estimates, but revenue of $47.56 billion came in below expectations, even though sales still rose 2.1% year over year.
• The company also announced a quarterly dividend of $1.78 per share, payable June 10, implying an annualized yield of 3.7%. Meanwhile, analysts currently have a consensus Moderate Buy rating with a target price of $204.13.

Thrivent Financial for Lutherans trimmed its position in shares of Chevron Corporation (NYSE:CVX - Free Report) by 26.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 125,471 shares of the oil and gas company's stock after selling 44,862 shares during the quarter. Thrivent Financial for Lutherans' holdings in Chevron were worth $19,120,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of CVX. Strategic Wealth Advisors LLC bought a new stake in Chevron during the 4th quarter valued at approximately $33,000. Daytona Street Capital LLC bought a new stake in Chevron during the 4th quarter valued at approximately $44,000. Maseco LLP bought a new stake in Chevron during the 4th quarter valued at approximately $49,000. Turning Point Benefit Group Inc. purchased a new position in shares of Chevron during the third quarter valued at approximately $49,000. Finally, High Point Wealth Management LLC purchased a new position in shares of Chevron during the fourth quarter valued at approximately $53,000. 72.42% of the stock is owned by institutional investors.

Chevron Stock Performance

CVX stock opened at $190.91 on Monday. The stock has a market capitalization of $380.22 billion, a PE ratio of 33.09, a price-to-earnings-growth 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 has a current ratio of 1.09, a quick ratio of 0.84 and a debt-to-equity ratio of 0.21. The stock's 50 day simple moving average is $193.14 and its 200 day simple moving average is $173.38.

Chevron (NYSE:CVX - Get Free Report) last released its quarterly earnings data on Friday, May 1st. The oil and gas company reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.41. The business had revenue of $47.56 billion for 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 firm's quarterly revenue was up 2.1% on a year-over-year basis. During the same period in the prior year, the firm posted $2.18 EPS. As a group, research analysts forecast that Chevron Corporation will post 15.43 earnings per share for the current fiscal year.

Chevron Announces Dividend

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

Analysts Set New Price Targets

CVX has been the subject of several recent research reports. Barclays lifted their target price on shares of Chevron from $180.00 to $192.00 and gave the company an "equal weight" rating in a report on Monday, May 4th. Scotiabank lifted their target price on shares of Chevron from $168.00 to $187.00 and gave the company a "sector perform" rating in a report on Wednesday, April 22nd. BNP Paribas Exane upgraded shares of Chevron from a "neutral" rating to an "outperform" rating and set a $174.00 target price for the company in a report on Friday, April 17th. Bank of America lifted their target price on shares of Chevron from $188.00 to $206.00 and gave the company a "buy" rating in a report on Monday, March 2nd. Finally, Sanford C. Bernstein lowered their target price on shares of Chevron from $216.00 to $204.00 and set a "market perform" rating for the company in a report on Monday, May 11th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $204.13.

Insider Buying and Selling at Chevron

In other Chevron news, insider R. Hewitt Pate sold 40,200 shares of the business's stock in a transaction on Monday, March 30th. The shares were sold at an average price of $213.30, for a total transaction of $8,574,660.00. Following the completion of the sale, the insider directly owned 8,638 shares in the company, valued at approximately $1,842,485.40. The trade was a 82.31% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Vice Chairman Mark A. Nelson sold 139,600 shares of the company's stock in a transaction on Monday, March 2nd. The stock was 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 owned 11,337 shares of the company's stock, valued at $2,130,449.04. This trade represents a 92.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 803,570 shares of company stock worth $151,969,798. 0.56% of the stock is owned by corporate insiders.

Key Chevron News

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

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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