3,022 Shares in Chevron Corporation $CVX Bought by MV Capital Management Inc.

MV Capital Management Inc. bought a new position in Chevron Corporation (NYSE:CVX) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 3,022 shares of the oil and gas company’s stock, valued at approximately $461,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Norges Bank bought a new stake in Chevron during the fourth quarter worth about $3,727,586,000. State Street Corp increased its position in shares of Chevron by 9.1% during the 3rd quarter. State Street Corp now owns 152,605,988 shares of the oil and gas company’s stock valued at $23,698,184,000 after purchasing an additional 12,789,399 shares during the last quarter. Berkshire Hathaway Inc raised its holdings in shares of Chevron by 6.6% during the 4th quarter. Berkshire Hathaway Inc now owns 130,156,362 shares of the oil and gas company’s stock valued at $19,837,131,000 after buying an additional 8,091,570 shares in the last quarter. Primecap Management Co. CA purchased a new position in shares of Chevron during the 3rd quarter valued at about $988,083,000. Finally, Northwestern Mutual Wealth Management Co. lifted its position in Chevron by 822.0% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 6,211,258 shares of the oil and gas company’s stock worth $946,658,000 after buying an additional 5,537,580 shares during the last quarter. Institutional investors own 72.42% of the company’s stock.

Key Headlines Impacting Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron agreed to buy a 70% stake and take operatorship of Greece’s Block 10 offshore concession with HELLENiQ ENERGY, expanding its deepwater exploration footprint in the Eastern Mediterranean and adding a new growth area. Chevron (CVX) Buys 70% Of Greece Offshore Block 10 With HELLENiQ ENERGY
• Positive Sentiment: Jefferies reportedly reiterated a Buy rating on Chevron, which can help support investor sentiment. Chevron (CVX) Receives a Buy from Jefferies
• Neutral Sentiment: Chevron continues to benefit from commentary that investors should look beyond short-term oil price swings, with management emphasizing dividends and long-cycle strategy rather than just commodity prices. Chevron CEO to investors: It’s not just about oil prices
• Neutral Sentiment: A new clean-hydrogen station opened on Chevron property in British Columbia, highlighting the company’s energy-transition infrastructure role, though the direct financial impact appears limited for now. HTEC Opens Canada’s First 700 Bar Commercial Heavy-Duty Clean Hydrogen Station
• Negative Sentiment: Recent articles point to falling crude prices and reduced geopolitical tension after a U.S.-Iran deal, which could weigh on Chevron’s near-term earnings expectations because its profits are sensitive to oil and gas pricing. How Investors Are Reacting To Chevron (CVX) Oil-Price Slide And Argentina Gas Bet After U.S.-Iran Deal

Analysts Set New Price Targets

Several analysts have issued reports on CVX shares. Piper Sandler upped their target price on Chevron from $179.00 to $242.00 and gave the stock an “overweight” rating in a research note on Thursday, March 12th. Scotiabank lifted their price target on shares of Chevron from $168.00 to $187.00 and gave the stock a “sector perform” rating in a research note on Wednesday, April 22nd. UBS Group boosted their price objective on shares of Chevron from $218.00 to $220.00 and gave the stock a “buy” rating in a report on Monday, May 4th. Mizuho boosted their price objective on shares of Chevron from $225.00 to $230.00 and gave the stock an “outperform” rating in a report on Wednesday, May 27th. Finally, Sanford C. Bernstein cut their price objective on shares of Chevron from $216.00 to $204.00 and set a “market perform” rating for the company in a research note on Monday, May 11th. Eighteen research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $205.70.

Chevron Stock Down 2.3%

NYSE CVX opened at $173.51 on Friday. 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 stock has a market capitalization of $345.56 billion, a PE ratio of 30.07, a PEG ratio of 0.58 and a beta of 0.48. Chevron Corporation has a 1 year low of $142.40 and a 1 year high of $214.71. The business’s 50-day moving average is $187.02 and its 200 day moving average is $179.05.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, May 1st. The oil and gas company reported $1.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.41. The company had revenue of $47.56 billion for 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%.Chevron’s revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.18 EPS. Sell-side analysts forecast that Chevron Corporation will post 15.88 earnings per share for the current year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Tuesday, May 19th were paid a dividend of $1.78 per share. The ex-dividend date of this dividend was Tuesday, May 19th. This represents a $7.12 annualized dividend and a dividend yield of 4.1%. Chevron’s payout ratio is 123.40%.

Insider Activity at Chevron

In related news, Director John B. Hess sold 380,000 shares of Chevron stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $193.20, for a total value of $73,416,000.00. Following the sale, the director owned 278,045 shares in the company, valued at $53,718,294. The trade was a 57.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider R. Hewitt Pate sold 40,200 shares of Chevron stock in a transaction 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 in the company, valued at approximately $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 have sold 615,200 shares of company stock worth $118,022,760 over the last three months. 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.