TMB Capital Partners LLC Buys New Stake in Chevron Corporation $CVX

Key Points

• TMB Capital Partners opened a new position in Chevron during the fourth quarter, buying 9,801 shares valued at about $1.49 million.
• Chevron’s stock was down 2.3% in Friday trading, even after reporting quarterly earnings of $1.41 per share, which beat estimates though revenue came in below expectations.
• The company continues to support investors with a 4.1% dividend yield and has also drawn attention from analysts and institutions, with several firms raising price targets and institutional ownership standing at 72.42%.

TMB Capital Partners LLC bought a new position in Chevron Corporation (NYSE:CVX - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 9,801 shares of the oil and gas company's stock, valued at approximately $1,494,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CVX. Invesco Ltd. boosted its holdings in Chevron by 1.5% during the fourth quarter. Invesco Ltd. now owns 17,119,575 shares of the oil and gas company's stock valued at $2,609,194,000 after acquiring an additional 254,323 shares during the period. Michels Family Financial LLC boosted its stake in Chevron by 0.6% during the 4th quarter. Michels Family Financial LLC now owns 11,063 shares of the oil and gas company's stock valued at $1,686,000 after purchasing an additional 68 shares during the period. Evansbrook LLC acquired a new stake in Chevron in the 4th quarter valued at approximately $606,000. Rare Wolf Capital LLC bought a new position in Chevron in the 4th quarter worth approximately $352,000. Finally, First Growth Capital LLC bought a new position in Chevron in the 4th quarter worth approximately $690,000. Institutional investors and hedge funds own 72.42% of the company's stock.

More Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron agreed to buy a 70% stake and take operatorship of Greece’s Block 10 offshore concession with HELLENiQ ENERGY, expanding its deepwater exploration footprint in the Eastern Mediterranean and adding a new growth area. Chevron (CVX) Buys 70% Of Greece Offshore Block 10 With HELLENiQ ENERGY
• Positive Sentiment: Jefferies reportedly reiterated a Buy rating on Chevron, which can help support investor sentiment. Chevron (CVX) Receives a Buy from Jefferies
• Neutral Sentiment: Chevron continues to benefit from commentary that investors should look beyond short-term oil price swings, with management emphasizing dividends and long-cycle strategy rather than just commodity prices. Chevron CEO to investors: It’s not just about oil prices
• Neutral Sentiment: A new clean-hydrogen station opened on Chevron property in British Columbia, highlighting the company’s energy-transition infrastructure role, though the direct financial impact appears limited for now. HTEC Opens Canada’s First 700 Bar Commercial Heavy-Duty Clean Hydrogen Station
• Negative Sentiment: Recent articles point to falling crude prices and reduced geopolitical tension after a U.S.-Iran deal, which could weigh on Chevron’s near-term earnings expectations because its profits are sensitive to oil and gas pricing. How Investors Are Reacting To Chevron (CVX) Oil-Price Slide And Argentina Gas Bet After U.S.-Iran Deal

Chevron Trading Down 2.3%

Shares of Chevron stock opened at $173.51 on Friday. Chevron Corporation has a 52-week low of $142.40 and a 52-week high of $214.71. The firm has a market capitalization of $345.56 billion, a PE ratio of 30.07, a price-to-earnings-growth ratio of 0.58 and a beta of 0.48. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.09 and a quick ratio of 0.84. The company's fifty day moving average price is $187.02 and its two-hundred day moving average price is $179.05.

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 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 analyst estimates of $51.86 billion. Chevron had a net margin of 5.79% and a return on equity of 6.90%. The firm's revenue was up 2.1% on a year-over-year basis. During the same period in the previous year, the business earned $2.18 EPS. On average, analysts expect that Chevron Corporation will post 15.88 EPS for the current year.

Chevron Dividend Announcement

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 dividend of $1.78 per share. The ex-dividend date was Tuesday, May 19th. This represents a $7.12 dividend on an annualized basis and a yield of 4.1%. Chevron's dividend payout ratio (DPR) is currently 123.40%.

Insider Buying and Selling

In related news, Director John B. Hess sold 380,000 shares of the firm's stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $193.20, for a total transaction of $73,416,000.00. Following the completion of the transaction, the director owned 278,045 shares in the company, valued at $53,718,294. This trade represents a 57.75% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider R. Hewitt Pate sold 40,200 shares of the firm's stock in a transaction that occurred on Monday, March 30th. The stock was sold at an average price of $213.30, for a total value of $8,574,660.00. Following the transaction, the insider owned 8,638 shares of the company's stock, valued at $1,842,485.40. This trade represents a 82.31% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 615,200 shares of company stock worth $118,022,760 over the last ninety days. Company insiders own 0.56% of the company's stock.

Analyst Upgrades and Downgrades

CVX has been the subject of several research reports. Barclays increased their price objective on Chevron from $192.00 to $213.00 and gave the company an "equal weight" rating in a research report on Tuesday, May 26th. Mizuho raised their price target on shares of Chevron from $225.00 to $230.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 27th. Weiss Ratings downgraded shares of Chevron from a "hold (c+)" rating to a "hold (c)" rating in a report on Tuesday, June 2nd. Scotiabank upped their price objective on shares of Chevron from $168.00 to $187.00 and gave the company a "sector perform" rating in a research report on Wednesday, April 22nd. Finally, Tudor Pickering upgraded shares of Chevron from a "hold" rating to a "buy" rating and set a $225.00 target price for the company in a research note on Thursday, April 9th. Eighteen equities 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. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $205.70.

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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