Venturi Wealth Management LLC Sells 11,777 Shares of Chevron Corporation $CVX

Key Points

• Venturi Wealth Management cut its Chevron stake by 15.1% in the first quarter, selling 11,777 shares and leaving it with 66,165 shares worth about $13.7 million.
• Chevron is drawing attention for new growth opportunities, including a 20-year natural gas supply deal with Microsoft for a West Texas data center and a majority stake in Greece’s Southern Ionian Sea Block 10.
• The stock faces some mixed signals: Chevron beat EPS estimates in its latest quarter, but revenue came in below expectations, while analysts currently rate the shares a Moderate Buy with an average target price of $205.70.

Venturi Wealth Management LLC lessened its position in Chevron Corporation (NYSE:CVX - Free Report) by 15.1% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 66,165 shares of the oil and gas company's stock after selling 11,777 shares during the quarter. Venturi Wealth Management LLC's holdings in Chevron were worth $13,689,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CVX. State Street Corp raised its stake in shares of Chevron by 9.1% in the third quarter. State Street Corp now owns 152,605,988 shares of the oil and gas company's stock worth $23,698,184,000 after buying an additional 12,789,399 shares during the period. Berkshire Hathaway Inc lifted its position in shares of Chevron by 6.6% during the 4th quarter. Berkshire Hathaway Inc now owns 130,156,362 shares of the oil and gas company's stock valued at $19,837,131,000 after buying an additional 8,091,570 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Chevron by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 43,613,011 shares of the oil and gas company's stock valued at $6,620,187,000 after acquiring an additional 134,890 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of Chevron by 2.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 36,036,844 shares of the oil and gas company's stock valued at $5,492,377,000 after acquiring an additional 961,341 shares during the period. Finally, Norges Bank purchased a new stake in Chevron in the 4th quarter worth approximately $3,727,586,000. 72.42% of the stock is owned by hedge funds and other institutional investors.

More Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron expanded its upstream footprint by agreeing to take a majority stake and operatorship in Greece’s Southern Ionian Sea Block 10, a move that could add long-term exploration upside and strengthen its Eastern Mediterranean presence. Chevron (CVX) Expands Into Greece Block 10 While Venezuela Operations Stay Running
• Positive Sentiment: The company also announced a 20-year deal to supply natural gas to a Microsoft data center in West Texas, signaling a new avenue for stable, long-duration demand and potential growth from energy infrastructure tied to AI. Chevron, Microsoft deal fuels West Texas data center expansion
• Positive Sentiment: Chevron confirmed that its Venezuela operations remain safe and fully operational after the earthquakes, reducing near-term disruption risk while the company supports relief efforts. Chevron Confirms Safe Venezuela Operations After Major Earthquakes
• Neutral Sentiment: Chevron committed $1 million to earthquake relief in Venezuela, a humanitarian move that is unlikely to materially affect earnings but may support its reputation. Chevron Commits $1 Million to Support Earthquake Relief in Venezuela
• Neutral Sentiment: Reuters reported Chevron is exploring additional deals to power U.S. data centers, which suggests optionality and diversification, but no immediate financial impact was disclosed. Chevron eyes more deals to power US data centers
• Negative Sentiment: Investor caution rose after reports that the Trump administration ordered a DOJ probe into gasoline pricing at Chevron and other major oil companies, creating headline risk and possible regulatory overhang. Trump Orders DOJ Investigation Into Exxon (XOM) and Chevron (CVX) Over Gas Pump Pricing
• Negative Sentiment: Chevron’s CFO said gasoline prices should decline, but only with a lag, reinforcing concerns that near-term pricing and margins may remain uncertain if crude prices keep falling. Chevron CFO says gas prices will normalize after Trump presses Big Oil

Chevron Trading Down 0.2%

CVX opened at $170.67 on Monday. 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 firm has a market cap of $339.91 billion, a price-to-earnings ratio of 29.58, a PEG ratio of 0.56 and a beta of 0.48. Chevron Corporation has a 12 month low of $142.40 and a 12 month high of $214.71. The stock has a fifty day moving average price of $185.10 and a 200-day moving average price of $180.00.

Chevron (NYSE:CVX - Get Free Report) last announced its earnings results 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 company had revenue of $47.56 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period in the prior year, the company posted $2.18 EPS. As a group, equities research analysts anticipate that Chevron Corporation will post 15.88 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Tuesday, May 19th were given a $1.78 dividend. The ex-dividend date was Tuesday, May 19th. This represents a $7.12 dividend on an annualized basis and a dividend yield of 4.2%. Chevron's payout ratio is 123.40%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Scotiabank increased their price target on Chevron from $168.00 to $187.00 and gave the stock a "sector perform" rating in a research note on Wednesday, April 22nd. BNP Paribas Exane upgraded Chevron from a "neutral" rating to an "outperform" rating and set a $174.00 price objective on the stock in a research report on Friday, April 17th. UBS Group reaffirmed a "buy" rating on shares of Chevron in a research note on Tuesday, June 23rd. Sanford C. Bernstein dropped their price objective on Chevron from $216.00 to $204.00 and set a "market perform" rating for the company in a research note on Monday, May 11th. Finally, Citigroup increased their target price on Chevron from $210.00 to $235.00 and gave the stock a "buy" rating in a research report on Thursday, April 2nd. Eighteen analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, Chevron currently has an average rating of "Moderate Buy" and an average target price of $205.70.

Insider Buying and Selling at Chevron

In other news, Director John B. Hess sold 380,000 shares of the business's stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $193.20, for a total transaction of $73,416,000.00. Following the completion of the sale, the director owned 278,045 shares of the company's stock, valued at $53,718,294. The trade was a 57.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.56% of the stock is currently 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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