ProShare Advisors LLC Sells 18,253 Shares of Chevron Corporation $CVX

ProShare Advisors LLC cut its stake in Chevron Corporation (NYSE:CVX) by 1.2% in the fourth quarter, Holdings Channel reports. The institutional investor owned 1,531,427 shares of the oil and gas company’s stock after selling 18,253 shares during the period. ProShare Advisors LLC’s holdings in Chevron were worth $233,405,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Summit Wealth Group LLC lifted its position in shares of Chevron by 2.8% during the fourth quarter. Summit Wealth Group LLC now owns 2,258 shares of the oil and gas company’s stock worth $344,000 after purchasing an additional 62 shares during the last quarter. HighTower Advisors LLC lifted its position in shares of Chevron by 25.4% during the fourth quarter. HighTower Advisors LLC now owns 2,988,115 shares of the oil and gas company’s stock worth $455,419,000 after purchasing an additional 605,414 shares during the last quarter. Evergreen Wealth Management LLC lifted its position in shares of Chevron by 1.7% during the fourth quarter. Evergreen Wealth Management LLC now owns 13,239 shares of the oil and gas company’s stock worth $2,018,000 after purchasing an additional 221 shares during the last quarter. Tanglewood Legacy Advisors LLC lifted its position in shares of Chevron by 2.3% during the fourth quarter. Tanglewood Legacy Advisors LLC now owns 5,146 shares of the oil and gas company’s stock worth $784,000 after purchasing an additional 117 shares during the last quarter. Finally, Rockport Wealth LLC bought a new stake in shares of Chevron during the fourth quarter worth $240,000. 72.42% of the stock is currently owned by institutional investors.

Trending Headlines about Chevron

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

Insider Transactions at Chevron

In related news, Vice Chairman Mark A. Nelson sold 139,600 shares of Chevron stock in a transaction dated 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 in the company, valued at $2,130,449.04. The trade was a 92.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider R. Hewitt Pate sold 40,200 shares of Chevron stock in a transaction dated Monday, March 30th. The shares were sold at an average price of $213.30, for a total value of $8,574,660.00. Following the completion of the transaction, the insider owned 8,638 shares in the company, valued at $1,842,485.40. This trade represents a 82.31% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 803,570 shares of company stock valued at $151,969,798 over the last three months. 0.56% of the stock is currently owned by corporate insiders.

Chevron Stock Performance

CVX stock opened at $196.08 on Tuesday. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.09 and a quick ratio of 0.84. The business has a 50-day moving average price of $193.26 and a 200 day moving average price of $173.68. The company has a market capitalization 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 1-year low of $133.77 and a 1-year high of $214.71.

Chevron (NYSE:CVX) last released 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. The firm had revenue of $47.56 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the previous year, the company posted $2.18 earnings per share. As a group, equities research analysts forecast that Chevron Corporation will post 15.43 EPS for the current fiscal year.

Chevron Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CVX. The Goldman Sachs Group reiterated a “buy” rating and set a $216.00 target price on shares of Chevron in a research report on Wednesday, May 6th. Tudor Pickering upgraded Chevron from a “hold” rating to a “buy” rating and set a $225.00 target price for the company in a research report on Thursday, April 9th. Wall Street Zen upgraded Chevron from a “sell” rating to a “hold” rating in a research report on Saturday, January 31st. Scotiabank lifted their price objective on Chevron from $168.00 to $187.00 and gave the company a “sector perform” rating in a report on Wednesday, April 22nd. Finally, Bank of America lifted their price objective on Chevron from $188.00 to $206.00 and gave the company a “buy” rating in a report on Monday, March 2nd. One 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. According to MarketBeat.com, Chevron has an average rating of “Moderate Buy” and an average price target of $204.13.

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.