Saxon Interests Inc. Sells 5,745 Shares of Chevron Corporation $CVX

Saxon Interests Inc. lowered its holdings in Chevron Corporation (NYSE:CVX) by 30.5% during the 1st quarter, HoldingsChannel.com reports. The fund owned 13,104 shares of the oil and gas company’s stock after selling 5,745 shares during the quarter. Chevron accounts for approximately 0.9% of Saxon Interests Inc.’s investment portfolio, making the stock its 24th largest holding. Saxon Interests Inc.’s holdings in Chevron were worth $2,711,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the business. Midwest Capital Advisors LLC purchased a new stake in Chevron in the first quarter valued at approximately $25,000. Core Wealth Advisors LLC purchased a new position in Chevron in the 4th quarter worth approximately $26,000. Phillip James Consulting Co. bought a new position in shares of Chevron in the 4th quarter worth $26,000. Basso Capital Management L.P. bought a new position in shares of Chevron in the 4th quarter worth $27,000. Finally, Karpus Management Inc. purchased a new stake in shares of Chevron during the 4th quarter valued at $27,000. Institutional investors own 72.42% of the company’s stock.

Analysts Set New Price Targets

CVX has been the subject of several research analyst reports. Barclays lifted their price target on Chevron from $192.00 to $213.00 and gave the stock an “equal weight” rating in a research note on Tuesday, May 26th. UBS Group reissued a “buy” rating on shares of Chevron in a report on Tuesday, June 23rd. TD Cowen boosted their target price on Chevron from $204.00 to $205.00 and gave the stock a “hold” rating in a research report on Friday, May 8th. Tudor Pickering raised Chevron from a “hold” rating to a “buy” rating and set a $225.00 target price for the company in a research note on Thursday, April 9th. Finally, Citigroup increased their price target on shares of Chevron from $210.00 to $235.00 and gave the company a “buy” rating in a research report on Thursday, April 2nd. Nineteen investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $205.71.

Chevron Stock Up 1.1%

Shares of Chevron stock opened at $175.89 on Thursday. 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 fifty day simple moving average is $182.51 and its two-hundred day simple moving average is $181.14. The company has a market cap of $350.31 billion, a P/E ratio of 30.48, a PEG ratio of 0.59 and a beta of 0.50. Chevron Corporation has a 12-month low of $146.49 and a 12-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, topping the consensus estimate of $1.00 by $0.41. The firm had revenue of $47.56 billion during the quarter, compared to analyst estimates of $51.86 billion. Chevron had a return on equity of 6.90% and a net margin of 5.79%.The business’s revenue was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.18 EPS. Research analysts anticipate that Chevron Corporation will post 15.28 EPS for the current year.

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Tuesday, May 19th were issued a $1.78 dividend. The ex-dividend date was Tuesday, May 19th. This represents a $7.12 dividend on an annualized basis and a yield of 4.0%. Chevron’s dividend payout ratio is 123.40%.

Insider Buying and Selling

In other news, Director John B. Hess sold 380,000 shares of the business’s stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $193.20, for a total transaction of $73,416,000.00. Following the sale, the director owned 278,045 shares in the company, valued at approximately $53,718,294. The trade was a 57.75% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.56% of the company’s stock.

More Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron stock is benefiting from a jump in oil prices, which boosts expected upstream earnings and improves sentiment across the energy sector. Why Is Chevron Stock Gaining Wednesday?
• Positive Sentiment: Rising geopolitical tensions and the unraveling of the U.S.–Iran ceasefire have pushed crude and risk premiums higher, giving integrated oil names like Chevron a lift. Ceasefire Cracks, Oil Bounces: Why Exxon, Chevron Stocks Are Hot Again
• Positive Sentiment: Chevron announced it will offer rival drillers access to its chemical technology to help boost shale output, reinforcing its role in U.S. energy production and potentially creating a new commercialization opportunity. Chevron offers rival drillers its chemical technology to boost shale oil output
• Positive Sentiment: Chevron remains in focus for investors seeking dependable income, with articles highlighting its attractive dividend yield and its status as a preferred blue-chip energy holding. Chevron (CVX) – Among the 14 Best Blue Chip Dividend Stocks to Buy According to Hedge Funds
• Neutral Sentiment: Market commentary also notes Chevron’s stock has held up despite recent index removal and continuing debate over valuation, Guyana growth, and cash-flow durability. Chevron (CVX) Following Index Removal And Guyana Upgrades, Is The Valuation Case Intact?
• Neutral Sentiment: Coverage around Chevron’s AI-related energy demand exposure and a new technology licensing agreement with ZL Chemicals adds longer-term strategic interest, but these headlines are less likely to drive near-term trading than oil prices. Chevron (NYSE:CVX) Powers AI Demand Across Energy Markets Chevron, ZL Chemicals sign technology licensing agreement
• Negative Sentiment: Chevron also faced a negative operational headline after one of its tankers used for CPC shipments was reportedly hit by a drone in the Black Sea, which could raise transportation and geopolitical risk concerns. Chevron tanker used for CPC oil hit by drone in Black Sea

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.