Wealth Enhancement Trust Services Inc. Takes Position in Chevron Corporation $CVX

Key Points

• Wealth Enhancement Trust Services Inc. opened a new position in Chevron (NYSE:CVX) in Q4, buying 22,225 shares valued at about $3.39 million.
• Significant insider selling occurred on March 2, with Vice Chairman Mark A. Nelson and CEO Michael K. Wirth selling 139,600 and 272,624 shares respectively, contributing to 90‑day insider sales of 779,407 shares (~$146 million).
• Analysts are broadly positive—MarketBeat shows an average rating of "Moderate Buy" with an average target of $194.21, and several firms have raised ratings/targets (e.g., JPMorgan, Tudor Pickering, Barclays).

Wealth Enhancement Trust Services Inc. acquired a new position in shares of Chevron Corporation (NYSE:CVX - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 22,225 shares of the oil and gas company's stock, valued at approximately $3,387,000.

A number of other hedge funds have also modified their holdings of the company. Decker Retirement Planning Inc. bought a new position in shares of Chevron during the 3rd quarter worth approximately $34,000. Marquette Asset Management LLC bought a new stake in shares of Chevron in the third quarter worth $41,000. Barnes Dennig Private Wealth Management LLC lifted its position in shares of Chevron by 306.1% in the third quarter. Barnes Dennig Private Wealth Management LLC now owns 268 shares of the oil and gas company's stock worth $42,000 after purchasing an additional 202 shares in the last quarter. Daytona Street Capital LLC acquired a new position in Chevron during the fourth quarter worth $44,000. Finally, Maseco LLP acquired a new position in Chevron during the fourth quarter worth $49,000. 72.42% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on CVX. Barclays lifted their price target on shares of Chevron from $172.00 to $180.00 and gave the company an "equal weight" rating in a research note on Monday, March 16th. JPMorgan Chase & Co. upgraded Chevron from a "neutral" rating to an "overweight" rating and set a $176.00 price objective for the company in a report on Tuesday, January 20th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Chevron in a research report on Wednesday, January 21st. Tudor Pickering upgraded Chevron from a "hold" rating to a "buy" rating and set a $225.00 target price on the stock in a report on Thursday, April 9th. Finally, BNP Paribas Exane raised Chevron from a "neutral" rating to an "outperform" rating and set a $174.00 price target for the company in a research report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $194.21.

Key Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: High yield and income appeal — Coverage highlights Chevron as a top dividend stock and notes very attractive forward yields for early buyers, supporting investor demand for income. Read More.
• Positive Sentiment: Strong balance sheet and capital resilience — Analysts and commentary rank Chevron just behind Exxon on financial strength, suggesting it can withstand oil‑price swings and sustain buybacks/dividends. Read More.
• Positive Sentiment: Buy‑the‑dip sentiment and options trade ideas — Several outlets and services are pitching CVX as a tactical buy after the pullback, which could attract short‑term dip buyers. Read More.
• Positive Sentiment: Hess acquisition seen as strategically accretive — Analysis argues the $53B Hess deal may have been timed well and should add production and cash flow over time, supporting long‑term upside. Read More.
• Neutral Sentiment: Peer comparison — A note compares Petrobras and Chevron, highlighting Petrobras’ growth edge; useful for investors weighing growth vs stability but not an immediate catalyst. Read More.
• Neutral Sentiment: Regulatory/bill developments — The House passed H.R. 6409 relating to foreign emissions treatment; impact on Chevron is uncertain and longer‑term if enacted. Read More.
• Negative Sentiment: Immediate oil‑price shock and Strait reopening — Markets rallied broadly but oil prices fell after the Strait of Hormuz reopened, prompting a pullback in oil majors including Chevron. Read More.
• Negative Sentiment: Analyst downgrade and short‑term selling — A reported analyst downgrade contributed to yesterday’s slide and continues to pressure the name amid lower oil. Read More.
• Negative Sentiment: Headline risk from Iran war developments — Commentary notes that signs the Iran‑driven risk premium is easing (or the war ending) reduced the war‑related premium that had boosted CVX, producing volatility. Read More.

Insider Transactions at Chevron

In other news, Vice Chairman Mark A. Nelson sold 139,600 shares of the firm's stock in a transaction that occurred 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 directly 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 transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Michael K. Wirth sold 272,624 shares of Chevron stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $189.35, for a total value of $51,621,354.40. Following the transaction, the chief executive officer owned 31,266 shares of the company's stock, valued at $5,920,217.10. This represents a 89.71% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 779,407 shares of company stock valued at $145,972,971. Company insiders own 0.21% of the company's stock.

Chevron Stock Performance

Shares of CVX opened at $184.08 on Friday. The firm has a 50-day moving average of $192.34 and a 200-day moving average of $169.06. Chevron Corporation has a one year low of $132.33 and a one year high of $214.71. The company has a market cap of $366.74 billion, a PE ratio of 27.64, a price-to-earnings-growth ratio of 1.20 and a beta of 0.60. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.15 and a quick ratio of 0.86.

Chevron (NYSE:CVX - Get Free Report) last issued its earnings results on Friday, January 30th. The oil and gas company reported $1.52 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.44 by $0.08. Chevron had a net margin of 6.51% and a return on equity of 7.89%. The company had revenue of $45.79 billion for the quarter, compared to analysts' expectations of $48.18 billion. During the same period in the prior year, the firm earned $2.06 EPS. Chevron's quarterly revenue was down 10.2% compared to the same quarter last year. As a group, equities analysts forecast that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 10th. Shareholders of record on Tuesday, February 17th were given a dividend of $1.78 per share. This represents a $7.12 dividend on an annualized basis and a yield of 3.9%. This is a boost from Chevron's previous quarterly dividend of $1.71. The ex-dividend date of this dividend was Tuesday, February 17th. Chevron's dividend payout ratio (DPR) is presently 106.91%.

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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