Kestra Advisory Services LLC Buys 16,625 Shares of Chevron Corporation $CVX

Kestra Advisory Services LLC boosted its position in shares of Chevron Corporation (NYSE:CVX) by 5.1% during the first quarter, Holdings Channel.com reports. The fund owned 343,030 shares of the oil and gas company’s stock after acquiring an additional 16,625 shares during the quarter. Kestra Advisory Services LLC’s holdings in Chevron were worth $70,973,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also added to or reduced their stakes in CVX. Dakota Wealth Management lifted its position in shares of Chevron by 14.9% in the 4th quarter. Dakota Wealth Management now owns 83,265 shares of the oil and gas company’s stock worth $12,690,000 after purchasing an additional 10,822 shares during the period. Clear Trail Advisors LLC purchased a new position in Chevron during the fourth quarter valued at approximately $10,167,000. Curtis Advisory Group LLC bought a new position in Chevron in the fourth quarter worth approximately $1,381,000. Indivisible Partners bought a new position in Chevron in the fourth quarter worth approximately $1,923,000. Finally, Focus Partners Wealth lifted its holdings in Chevron by 3.2% during the third quarter. Focus Partners Wealth now owns 1,444,281 shares of the oil and gas company’s stock worth $224,278,000 after buying an additional 45,017 shares during the period. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Stock Down 1.1%

Shares of CVX stock opened at $174.05 on Friday. The stock’s fifty day moving average price is $182.23 and its 200 day moving average price is $181.32. Chevron Corporation has a 1-year low of $146.49 and a 1-year high of $214.71. The company has a market cap of $346.64 billion, a price-to-earnings ratio of 30.16, a price-to-earnings-growth ratio of 0.60 and a beta of 0.50. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.09 and a quick ratio of 0.84.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, May 1st. The oil and gas company reported $1.41 EPS for the quarter, beating analysts’ consensus estimates of $1.00 by $0.41. The company had revenue of $47.56 billion during the quarter, compared to analysts’ expectations of $51.86 billion. Chevron had a return on equity of 6.90% and a net margin of 5.79%.The firm’s revenue was up 2.1% compared to the same quarter last year. During the same period last year, the business posted $2.18 earnings per share. On average, research analysts expect that Chevron Corporation will post 15.28 earnings per share for the current fiscal year.

Chevron Announces Dividend

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

Insider Activity

In related news, Director John B. Hess sold 380,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the director directly owned 278,045 shares of the company’s stock, valued at $53,718,294. This trade represents a 57.75% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.56% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

CVX has been the topic of several recent research reports. Citigroup increased their target price on Chevron from $210.00 to $235.00 and gave the company a “buy” rating in a research report on Thursday, April 2nd. Royal Bank Of Canada reissued an “outperform” rating and issued a $220.00 price target on shares of Chevron in a research report on Tuesday, May 5th. Sanford C. Bernstein decreased their price objective on Chevron from $216.00 to $204.00 and set a “market perform” rating for the company in a research note on Monday, May 11th. Mizuho raised their price objective on Chevron from $225.00 to $230.00 and gave the company an “outperform” rating in a research report on Wednesday, May 27th. Finally, Piper Sandler lifted their target price on Chevron from $179.00 to $242.00 and gave the company an “overweight” rating in a research note on Thursday, March 12th. Nineteen analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Chevron has an average rating of “Moderate Buy” and a consensus target price of $205.71.

Key Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Bank of America reportedly sees Chevron as a preferred way to play a potential crude price surge if tensions around the Strait of Hormuz keep oil prices elevated. CVX Stock Has A New Bull Case — Why Bank Of America Favors Chevron Over Exxon As Hormuz Risks Push Oil Prices Higher
• Positive Sentiment: Chevron announced a licensing agreement for its enhanced oil recovery technology, which could boost shale production, improve recovery rates, and create a new commercialization avenue. Chevron offers rival drillers its chemical technology to boost shale oil output
• Positive Sentiment: Media coverage highlighted Chevron’s exposure to higher crude prices as geopolitical risk in the Middle East increased, improving the earnings outlook for integrated oil producers. Ceasefire Cracks, Oil Bounces: Why Exxon, Chevron Stocks Are Hot Again
• Neutral Sentiment: Several articles frame Chevron as a long-term dividend and blue-chip energy holding, but these are mostly opinion pieces rather than new catalysts. ExxonMobil vs. Chevron: Which Oil Dividend Stock is the Better Buy for a Lifetime of Passive Income
• Neutral Sentiment: Coverage around Chevron’s inclusion in the Dow and broader energy-sector technical signals may support investor interest, but they do not appear to be immediate stock-moving events. What Keeps Chevron (NYSE:CVX) in the Dow Jones Industrial Average?
• Negative Sentiment: Chevron was also mentioned in connection with a DOJ probe tied to allegations of oil-price gouging, which could add regulatory overhang even as higher oil prices improve profit potential. Chevron (CVX) Faces DOJ Probe As Iran Tensions Raise Record Profit Stakes
• Negative Sentiment: Chevron’s tanker used for CPC oil shipments was reportedly hit by a drone in the Black Sea, underscoring geopolitical and operational risk. Chevron tanker used for CPC oil hit by drone in Black Sea

Chevron Company 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.