World Investment Advisors Acquires 16,596 Shares of Chevron Corporation $CVX

Key Points

• World Investment Advisors increased its Chevron stake by 24.2% in the fourth quarter, buying 16,596 additional shares and bringing its total holding to 85,213 shares worth about $13 million.
• Several other institutional investors also boosted or initiated positions, and 72.42% of Chevron’s stock is now held by hedge funds and other institutions.
• Wall Street sentiment remains constructive: analysts have a Moderate Buy consensus on Chevron with an average price target of $204.13, while the stock recently traded at $185.95 and the company also announced a quarterly dividend of $1.78 per share.

World Investment Advisors raised its holdings in shares of Chevron Corporation (NYSE:CVX - Free Report) by 24.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 85,213 shares of the oil and gas company's stock after buying an additional 16,596 shares during the period. World Investment Advisors' holdings in Chevron were worth $12,987,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of CVX. Dakota Wealth Management grew its position in Chevron by 14.9% during the 4th quarter. Dakota Wealth Management now owns 83,265 shares of the oil and gas company's stock worth $12,690,000 after purchasing an additional 10,822 shares during the last quarter. Brooklyn FI LLC purchased a new stake in Chevron during the third quarter worth about $431,000. Clear Trail Advisors LLC purchased a new stake in Chevron during the fourth quarter worth about $10,167,000. Finemark National Bank & Trust boosted its holdings in Chevron by 40.3% during the third quarter. Finemark National Bank & Trust now owns 56,535 shares of the oil and gas company's stock worth $8,779,000 after buying an additional 16,243 shares in the last quarter. Finally, Curtis Advisory Group LLC acquired a new position in Chevron during the fourth quarter worth about $1,381,000. 72.42% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on CVX shares. JPMorgan Chase & Co. raised shares of Chevron from a "neutral" rating to an "overweight" rating and set a $176.00 price objective for the company in a research report on Tuesday, January 20th. BMO Capital Markets reissued an "outperform" rating and issued a $190.00 price objective on shares of Chevron in a research report on Monday, February 2nd. UBS Group increased their price objective on shares of Chevron from $218.00 to $220.00 and gave the stock a "buy" rating in a research report on Monday, May 4th. The Goldman Sachs Group restated a "buy" rating and issued a $216.00 target price on shares of Chevron in a research note on Wednesday, May 6th. Finally, HSBC upgraded shares of Chevron from a "hold" rating to a "buy" rating and set a $215.00 target price for the company in a research note on Friday, March 20th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $204.13.

Chevron Stock Up 0.7%

Chevron stock opened at $185.95 on Wednesday. The stock has a market cap of $370.33 billion, a price-to-earnings ratio of 32.23, a PEG ratio of 0.64 and a beta of 0.51. 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 company's 50-day moving average price is $193.16 and its two-hundred day moving average price is $172.71. Chevron Corporation has a 52 week low of $133.77 and a 52 week high of $214.71.

Chevron (NYSE:CVX - Get Free Report) last posted its quarterly earnings data 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. Chevron had a net margin of 5.79% and a return on equity of 6.90%. The company had revenue of $47.56 billion during the quarter, compared to analyst estimates of $51.86 billion. During the same quarter last year, the firm posted $2.18 EPS. The business's revenue for the quarter was up 2.1% on a year-over-year basis. On average, analysts expect that Chevron Corporation will post 15.02 EPS for the current fiscal year.

Chevron Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Tuesday, May 19th will be issued a dividend of $1.78 per share. This represents a $7.12 annualized dividend and a dividend yield of 3.8%. The ex-dividend date is Tuesday, May 19th. Chevron's dividend payout ratio (DPR) is currently 123.40%.

More Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Higher crude prices and Middle East supply fears are lifting the outlook for oil producers, with several articles naming Chevron as a stock that could benefit if oil prices move higher. 3 Oil Stocks to Buy Before Prices Head Higher
• 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, which could expand Chevron’s international exploration opportunities if the project advances. Syria selects offshore block for first deep-water oil, gas project with Chevron
• Neutral Sentiment: ADL and JLens urged Chevron shareholders to vote against Proposal 6 at the May 27 annual meeting, highlighting ongoing ESG and geopolitical controversy around the company’s Israel-related operations. ADL and JLens Urge Chevron Shareholders to Vote AGAINST Proposal 6
• Neutral Sentiment: Analysts are debating whether Chevron is still a safe bet after its sharp rally, with some commentary suggesting limited upside from current levels despite the recent strength in oil. Is Chevron a Safe Bet in the Energy Sector?
• Negative Sentiment: Some market commentary argues a drop in oil prices could signal weaker economic demand, which would be a risk for Chevron if crude cools off from recent highs. Here's Why a Drop in Oil Prices Might Be a Warning Sign for the Economy

Insider Buying and Selling at Chevron

In other Chevron news, CEO Michael K. Wirth sold 272,624 shares of Chevron stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $189.35, for a total value of $51,621,354.40. Following the completion of the sale, the chief executive officer directly owned 31,266 shares in the company, valued at $5,920,217.10. The trade was a 89.71% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 completion of the sale, 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 ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 816,434 shares of company stock valued at $154,338,976 in the last 90 days. Corporate insiders own 0.56% of the company's stock.

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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