Valley Wealth Managers Inc. Reduces Stock Position in Chevron Corporation $CVX

Key Points

• Valley Wealth Managers Inc. cut its Chevron stake by 13.4% in the fourth quarter, selling 19,362 shares and leaving it with 125,251 shares valued at about $19.1 million.
• Several Chevron insiders sold stock recently, including director John B. Hess and insider R. Hewitt Pate; insiders sold 816,439 shares worth $154.3 million over the last three months.
• Chevron beat earnings estimates for Q1 with EPS of $1.41 versus the $1.00 consensus, and it also declared a quarterly dividend of $1.78 per share, yielding about 3.9% annually.

Valley Wealth Managers Inc. decreased its position in Chevron Corporation (NYSE:CVX - Free Report) by 13.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 125,251 shares of the oil and gas company's stock after selling 19,362 shares during the quarter. Valley Wealth Managers Inc.'s holdings in Chevron were worth $19,090,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CVX. Strategic Wealth Advisors LLC acquired a new stake in Chevron during the fourth quarter worth approximately $33,000. Decker Retirement Planning Inc. acquired a new position in Chevron in the 3rd quarter valued at $34,000. Marquette Asset Management LLC purchased a new position in shares of Chevron during the 3rd quarter worth $41,000. Daytona Street Capital LLC purchased a new position in shares of Chevron during the 4th quarter worth $44,000. Finally, Maseco LLP acquired a new stake in shares of Chevron during the fourth quarter worth $49,000. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, insider R. Hewitt Pate sold 40,200 shares of Chevron stock in a transaction that occurred 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 sale, the insider owned 8,638 shares in the company, valued at $1,842,485.40. This trade represents a 82.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director John B. Hess sold 195,000 shares of the business's stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $184.78, for a total transaction of $36,032,100.00. Following the transaction, the director directly owned 658,045 shares in the company, valued at approximately $121,593,555.10. The trade was a 22.86% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 816,439 shares of company stock valued at $154,339,900 over the last three months. Company insiders own 0.56% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Morgan Stanley lifted their price objective on Chevron from $174.00 to $212.00 and gave the company an "overweight" rating in a research report on Friday, March 27th. Piper Sandler raised their price target on Chevron from $179.00 to $242.00 and gave the stock an "overweight" rating in a research note on Thursday, March 12th. Royal Bank Of Canada restated an "outperform" rating and issued a $220.00 price target on shares of Chevron in a report on Tuesday, May 5th. Argus set a $203.00 price objective on shares of Chevron in a research note on Tuesday, February 3rd. Finally, Zacks Research raised shares of Chevron from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 3rd. One 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 issued a Sell rating to the company. Based on data from MarketBeat.com, Chevron has an average rating of "Moderate Buy" and a consensus price target of $204.13.

Chevron Trading Up 1.7%

NYSE:CVX opened at $184.64 on Tuesday. The business's 50-day moving average is $193.17 and its two-hundred day moving average is $172.49. The firm has a market capitalization of $367.73 billion, a PE ratio of 32.00, a price-to-earnings-growth ratio of 0.63 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 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 issued its earnings results on Friday, May 1st. The oil and gas company reported $1.41 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.41. The company had revenue of $47.56 billion during the quarter, compared to the consensus estimate of $51.86 billion. Chevron had a return on equity of 6.90% and a net margin of 5.79%.The company's revenue was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.18 earnings per share. Research analysts predict that Chevron Corporation will post 15.02 earnings per share 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 issued 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 currently 123.40%.

Key Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron could benefit if Middle East tensions keep oil prices elevated and fuel shortages persist, since higher crude prices typically improve upstream earnings and cash flow. Assessing Chevron’s Valuation After a Recent Pullback and Tight Undervaluation Narrative
• Positive Sentiment: Reuters reported that Syria selected an offshore block for its first deep-water oil and gas project with Chevron and Qatar’s UCC Holding, highlighting a potential long-term exploration opportunity. Syria selects offshore block for first deep-water oil, gas project with Chevron
• Neutral Sentiment: Analyst commentary on Chevron’s Q1 earnings call focused on questions around flat sales and lower operating margin, but also on strong upstream production and integration of legacy Hess assets, suggesting the market is still weighing execution against profitability pressure. 5 Must-Read Analyst Questions From Chevron’s Q1 Earnings Call
• Neutral Sentiment: Chevron’s valuation is being reassessed after a recent pullback, with some investors still arguing the shares look undervalued relative to fundamentals. Assessing Chevron’s Valuation After a Recent Pullback and Tight Undervaluation Narrative
• Negative Sentiment: Chevron’s first-quarter results were met with a negative market reaction because investors were concerned about flat sales and a notable drop in operating margin, even though revenue roughly matched expectations. 5 Must-Read Analyst Questions From Chevron’s Q1 Earnings Call
• Negative Sentiment: Broader commentary on geopolitics noted that peace in oil-producing regions could lower crude prices, which would likely reduce Chevron’s earnings leverage from higher energy prices. Peace Will Bring Lower Oil: Warren Buffett’s Top Energy Picks for Berkshire Hathaway Will Still Shine

Chevron 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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