Blue Water Asset Management Invests $609,000 in Chevron Corporation $CVX

Blue Water Asset Management acquired a new position in Chevron Corporation (NYSE:CVX) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 3,997 shares of the oil and gas company’s stock, valued at approximately $609,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. SkyOak Wealth LLC increased its stake in shares of Chevron by 19.8% in the fourth quarter. SkyOak Wealth LLC now owns 15,134 shares of the oil and gas company’s stock worth $2,307,000 after purchasing an additional 2,497 shares in the last quarter. Maxele Advisors LLC increased its stake in shares of Chevron by 13.6% in the fourth quarter. Maxele Advisors LLC now owns 1,500 shares of the oil and gas company’s stock worth $229,000 after purchasing an additional 179 shares in the last quarter. Avantax Planning Partners Inc. increased its stake in shares of Chevron by 0.5% in the fourth quarter. Avantax Planning Partners Inc. now owns 64,859 shares of the oil and gas company’s stock worth $9,885,000 after purchasing an additional 333 shares in the last quarter. Conning Inc. increased its stake in shares of Chevron by 4.2% in the fourth quarter. Conning Inc. now owns 232,092 shares of the oil and gas company’s stock worth $35,373,000 after purchasing an additional 9,327 shares in the last quarter. Finally, ACR Alpine Capital Research LLC increased its stake in shares of Chevron by 9.7% in the fourth quarter. ACR Alpine Capital Research LLC now owns 2,710,197 shares of the oil and gas company’s stock worth $413,061,000 after purchasing an additional 238,630 shares in the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Chevron news, CEO Michael K. Wirth sold 272,624 shares of Chevron stock in a transaction 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 transaction, the chief executive officer directly owned 31,266 shares of the company’s stock, valued at $5,920,217.10. This trade represents a 89.71% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Andrew Benjamin Walz sold 11,600 shares of Chevron stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $188.58, for a total transaction of $2,187,528.00. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 803,570 shares of company stock worth $151,969,798. Insiders own 0.56% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CVX. Weiss Ratings reissued a “hold (c)” rating on shares of Chevron in a research note on Wednesday, January 21st. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $220.00 target price on shares of Chevron in a research note on Tuesday, May 5th. Piper Sandler raised their target price on shares of Chevron from $179.00 to $242.00 and gave the company an “overweight” rating in a research note on Thursday, March 12th. BNP Paribas Exane raised shares of Chevron from a “neutral” rating to an “outperform” rating and set a $174.00 target price for the company in a research note on Friday, April 17th. Finally, Argus set a $203.00 target price on shares of Chevron in a research note on Tuesday, February 3rd. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $204.13.

Chevron News Roundup

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron agreed to sell its Singapore refining stake and other Asia-Pacific downstream assets to ENEOS for roughly $2.17 billion, reinforcing its strategy to streamline the portfolio and potentially improve returns. Reuters article on ENEOS buying Chevron assets
• Positive Sentiment: Another report framed Chevron’s recent earnings as less weak than the headline numbers suggested, noting that the company’s share price did not fall sharply after the results, which may indicate investors are focusing on underlying cash generation and strategic actions rather than the revenue miss. Yahoo Finance article on Chevron earnings
• Neutral Sentiment: Market commentary this week also compared Chevron with TotalEnergies and discussed broader oil-sector themes, but those pieces were more about sector positioning than a direct new fundamental change for Chevron. Motley Fool comparison article
• Negative Sentiment: Chevron’s latest quarter was mixed, with earnings per share beating estimates but revenue coming in below expectations, which could temper enthusiasm if investors refocus on operating performance rather than asset sales. Chevron stock background

Chevron Stock Performance

CVX opened at $190.91 on Friday. The stock has a market capitalization of $380.22 billion, a price-to-earnings ratio of 33.09, a PEG ratio of 0.64 and a beta of 0.51. The company has a fifty day moving average of $193.14 and a 200 day moving average of $173.26. Chevron Corporation has a fifty-two week low of $133.77 and a fifty-two week high of $214.71. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.84 and a current ratio of 1.09.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, May 1st. The oil and gas company reported $1.41 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.41. Chevron had a net margin of 5.79% and a return on equity of 6.90%. The business had revenue of $47.56 billion during the quarter, compared to analysts’ expectations of $51.86 billion. During the same period last year, the company posted $2.18 EPS. The business’s revenue was up 2.1% on a year-over-year basis. As a group, sell-side analysts forecast that Chevron Corporation will post 15.23 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Shareholders of record on Tuesday, May 19th will be paid a $1.78 dividend. This represents a $7.12 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend is Tuesday, May 19th. Chevron’s dividend payout ratio (DPR) is presently 123.40%.

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.