Trust Co. of Oklahoma Raises Stake in Chevron Corporation $CVX

Key Points

• Trust Co. of Oklahoma increased its Chevron stake by 47.2% in the first quarter, adding 6,547 shares to bring its total to 20,416 shares worth about $4.22 million.
• Analysts remain broadly constructive on Chevron, with several firms raising price targets and the stock carrying a Moderate Buy consensus rating and an average price target of $205.70.
• Chevron has both positive and negative headlines: a 20-year natural gas supply deal with Microsoft could support long-term demand, while regulators’ probe into gasoline pricing adds political and regulatory pressure.

Trust Co. of Oklahoma raised its stake in shares of Chevron Corporation (NYSE:CVX - Free Report) by 47.2% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 20,416 shares of the oil and gas company's stock after buying an additional 6,547 shares during the quarter. Chevron comprises 1.2% of Trust Co. of Oklahoma's portfolio, making the stock its 21st largest holding. Trust Co. of Oklahoma's holdings in Chevron were worth $4,224,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Core Wealth Advisors LLC bought a new position in shares of Chevron in the fourth quarter valued at approximately $26,000. Phillip James Consulting Co. bought a new stake in Chevron during the 4th quarter worth approximately $26,000. Basso Capital Management L.P. bought a new stake in Chevron during the 4th quarter worth approximately $27,000. Karpus Management Inc. purchased a new stake in Chevron in the 4th quarter worth approximately $27,000. Finally, Quattro Advisors LLC purchased a new stake in Chevron in the 4th quarter worth approximately $27,000. 72.42% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

CVX has been the subject of several analyst reports. Piper Sandler raised their price target on shares of Chevron from $179.00 to $242.00 and gave the company an "overweight" rating in a report on Thursday, March 12th. BNP Paribas Exane raised shares of Chevron from a "neutral" rating to an "outperform" rating and set a $174.00 price target on the stock in a report on Friday, April 17th. Tudor Pickering upgraded Chevron from a "hold" rating to a "buy" rating and set a $225.00 price objective on the stock in a research report on Thursday, April 9th. Barclays lifted their price objective on Chevron from $192.00 to $213.00 and gave the company an "equal weight" rating in a research note on Tuesday, May 26th. Finally, Morgan Stanley boosted their target price on Chevron from $212.00 to $214.00 and gave the stock an "overweight" rating in a research report on Friday, May 22nd. Eighteen research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Chevron has an average rating of "Moderate Buy" and an average price target of $205.70.

Insiders Place Their Bets

In related news, Director John B. Hess sold 380,000 shares of Chevron stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $193.20, for a total value of $73,416,000.00. Following 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider R. Hewitt Pate sold 40,200 shares of the business's stock in a transaction on Monday, March 30th. The stock was 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 of the company's stock, valued at $1,842,485.40. This represents a 82.31% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 615,200 shares of company stock worth $118,022,760. 0.56% of the stock is owned by corporate insiders.

Key Headlines Impacting Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron’s 20-year deal to supply natural gas for Microsoft’s West Texas AI data center strengthens the company’s role in the AI power buildout and could provide a durable new demand source for Permian gas. Chevron, Microsoft deal fuels West Texas data center expansion
• Positive Sentiment: Market coverage highlights Chevron’s Microsoft partnership as a potential growth platform, with investors increasingly treating natural gas power for AI data centers as a new opportunity for the company. Microsoft Solves AI’s Biggest Bottleneck With Chevron Deal (CVX)
• Neutral Sentiment: Chevron said operations in Venezuela continue after the earthquake, suggesting no immediate disruption there, but the update does not appear to be a major stock-moving development. Update: Market Chatter: Chevron Says Operations in Venezuela Continue After Earthquake
• Negative Sentiment: Trump’s announcement that Exxon Mobil and Chevron are being probed over gasoline pricing has created regulatory overhang and weighed on Big Oil sentiment. Trump says Exxon, Chevron among firms probed as part of surge in gas prices
• Negative Sentiment: Chevron’s CFO acknowledged gasoline prices should ease but warned the pass-through from lower crude prices will take time, reinforcing near-term pressure from public and political scrutiny. Chevron CFO says gas prices will normalize after Trump presses Big Oil

Chevron Stock Up 0.4%

Shares of CVX opened at $172.19 on Friday. Chevron Corporation has a 1 year low of $142.40 and a 1 year high of $214.71. 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 stock has a 50 day simple moving average of $185.38 and a two-hundred day simple moving average of $179.84. The firm has a market cap of $342.93 billion, a P/E ratio of 29.84, a P/E/G ratio of 0.56 and a beta of 0.48.

Chevron (NYSE:CVX - Get Free Report) last posted its quarterly earnings results on Friday, May 1st. The oil and gas company reported $1.41 EPS for the quarter, topping the consensus estimate of $1.00 by $0.41. The firm had revenue of $47.56 billion for the quarter, compared to the consensus estimate of $51.86 billion. Chevron had a net margin of 5.79% and a return on equity of 6.90%. The business's revenue was up 2.1% compared to the same quarter last year. During the same period last year, the firm posted $2.18 earnings per share. On average, analysts forecast that Chevron Corporation will post 15.88 earnings per share for the current fiscal year.

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Tuesday, May 19th were issued a dividend of $1.78 per share. The ex-dividend date of this dividend was Tuesday, May 19th. This represents a $7.12 annualized dividend and a dividend yield of 4.1%. Chevron's dividend payout ratio (DPR) 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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