HighTower Advisors LLC Has $455.42 Million Stake in Chevron Corporation $CVX

HighTower Advisors LLC increased its position in shares of Chevron Corporation (NYSE:CVX) by 25.4% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,988,115 shares of the oil and gas company’s stock after acquiring an additional 605,414 shares during the period. HighTower Advisors LLC’s holdings in Chevron were worth $455,419,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. United Bank boosted its stake in shares of Chevron by 7.7% in the 2nd quarter. United Bank now owns 11,079 shares of the oil and gas company’s stock valued at $1,586,000 after purchasing an additional 796 shares during the last quarter. Schnieders Capital Management LLC. boosted its position in Chevron by 9.0% during the second quarter. Schnieders Capital Management LLC. now owns 50,839 shares of the oil and gas company’s stock valued at $7,280,000 after acquiring an additional 4,214 shares during the last quarter. BNP Paribas grew its holdings in Chevron by 76.4% during the 2nd quarter. BNP Paribas now owns 441 shares of the oil and gas company’s stock worth $63,000 after acquiring an additional 191 shares during the period. Osterweis Capital Management Inc. lifted its stake in shares of Chevron by 678.9% in the 2nd quarter. Osterweis Capital Management Inc. now owns 1,363 shares of the oil and gas company’s stock valued at $195,000 after purchasing an additional 1,188 shares during the period. Finally, Main Street Financial Solutions LLC lifted its stake in shares of Chevron by 3.6% in the 2nd quarter. Main Street Financial Solutions LLC now owns 16,052 shares of the oil and gas company’s stock valued at $2,299,000 after purchasing an additional 553 shares during the period. 72.42% of the stock is owned by institutional investors.

Insider Buying and Selling at Chevron

In other news, Director John B. Hess sold 195,000 shares of the business’s stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $184.78, for a total value of $36,032,100.00. Following the completion of the sale, the director owned 658,045 shares of the company’s stock, valued at approximately $121,593,555.10. The trade was a 22.86% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Michael K. Wirth sold 272,624 shares of the stock in a transaction dated 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 sale, 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 three months, insiders sold 803,570 shares of company stock valued at $151,969,798. 0.56% of the stock is currently owned by corporate insiders.

Chevron Stock Performance

NYSE:CVX opened at $196.08 on Tuesday. The company has a quick ratio of 0.84, a current ratio of 1.09 and a debt-to-equity ratio of 0.21. The business’s 50-day moving average price is $193.26 and its two-hundred day moving average price is $173.68. The stock has a market cap of $390.52 billion, a P/E ratio of 33.98, a PEG ratio of 0.64 and a beta of 0.51. Chevron Corporation has a twelve month low of $133.77 and a twelve month high of $214.71.

Chevron (NYSE:CVX) 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. 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 analyst estimates of $51.86 billion. During the same period in the previous year, the business posted $2.18 earnings per share. Chevron’s revenue for the quarter was up 2.1% on a year-over-year basis. As a group, equities analysts predict that Chevron Corporation will post 15.43 EPS for the current fiscal year.

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Tuesday, May 19th will be given a dividend of $1.78 per share. The ex-dividend date is Tuesday, May 19th. This represents a $7.12 annualized dividend and a dividend yield of 3.6%. Chevron’s dividend payout ratio is 123.40%.

Chevron News Roundup

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron agreed to sell some Asia-Pacific downstream assets and its SRC stake to Japan’s ENEOS for about $2.2 billion, a move that should help streamline the portfolio and unlock cash for higher-return uses. Article Title
• Positive Sentiment: Chevron’s CEO warning about possible physical oil shortages added to the bullish backdrop for energy prices, which can support upstream earnings and cash flow. Article Title
• Positive Sentiment: Unusually heavy call-option buying suggests traders are positioning for more upside in Chevron shares, often a sign of growing short-term optimism.
• Positive Sentiment: Recent commentary also highlighted Chevron as a trending and potentially attractive dividend stock, reinforcing the view that investors see it as a defensive income name with upside potential. Article Title
• Neutral Sentiment: Brokerage optimism and “buy” discussions from analysts may be supporting interest in the stock, but the article itself did not point to a new rating change or specific catalyst. Article Title

Analysts Set New Price Targets

A number of brokerages have weighed in on CVX. Wells Fargo & Company lifted their target price on Chevron from $204.00 to $222.00 and gave the stock an “overweight” rating in a report on Thursday, April 9th. Bank of America boosted their price objective on Chevron from $188.00 to $206.00 and gave the stock a “buy” rating in a report on Monday, March 2nd. Sanford C. Bernstein cut their price target on shares of Chevron from $216.00 to $204.00 and set a “market perform” rating on the stock in a report on Monday, May 11th. UBS Group raised their target price on Chevron from $218.00 to $220.00 and gave the company a “buy” rating in a research report on Monday, May 4th. Finally, Morgan Stanley raised their target price on Chevron from $174.00 to $212.00 and gave the stock an “overweight” rating in a research report on Friday, March 27th. One research 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 given a Sell rating to the company. Based on data from MarketBeat, Chevron currently has a consensus rating of “Moderate Buy” and an average target price of $204.13.

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.