Chevron Corporation $CVX Stock Position Lifted by Liberty One Investment Management LLC

Liberty One Investment Management LLC grew its holdings in shares of Chevron Corporation (NYSE:CVX) by 30.5% during the first quarter, Holdings Channel.com reports. The firm owned 33,480 shares of the oil and gas company’s stock after buying an additional 7,820 shares during the quarter. Liberty One Investment Management LLC’s holdings in Chevron were worth $6,927,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Midwest Capital Advisors LLC acquired a new stake in shares of Chevron in the 1st quarter worth approximately $25,000. Core Wealth Advisors LLC bought a new stake in Chevron during the fourth quarter worth approximately $26,000. Phillip James Consulting Co. bought a new stake in Chevron during the fourth quarter worth approximately $26,000. Basso Capital Management L.P. acquired a new stake in Chevron in the fourth quarter worth approximately $27,000. Finally, Karpus Management Inc. acquired a new stake in Chevron in the fourth quarter worth approximately $27,000. 72.42% of the stock is currently owned by institutional investors.

Chevron Stock Performance

CVX opened at $194.39 on Friday. 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 firm has a market cap of $387.15 billion, a PE ratio of 33.69, a P/E/G ratio of 0.68 and a beta of 0.50. The business has a fifty day simple moving average of $182.04 and a 200-day simple moving average of $183.75. Chevron Corporation has a fifty-two week low of $146.49 and a fifty-two week 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 analysts’ consensus estimates of $1.00 by $0.41. Chevron had a return on equity of 6.90% and a net margin of 5.79%.The company had revenue of $47.56 billion for the quarter, compared to analyst estimates of $51.86 billion. During the same period in the previous year, the firm earned $2.18 earnings per share. Chevron’s revenue for the quarter was up 2.1% compared to the same quarter last year. As a group, equities analysts predict that Chevron Corporation will post 14.75 EPS for the current fiscal year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Tuesday, May 19th were issued a dividend of $1.78 per share. This represents a $7.12 annualized dividend and a yield of 3.7%. The ex-dividend date was Tuesday, May 19th. Chevron’s payout ratio is presently 123.40%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on CVX shares. Wells Fargo & Company lifted their price target on Chevron from $204.00 to $222.00 and gave the company an “overweight” rating in a research report on Thursday, April 9th. Sanford C. Bernstein decreased their target price 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. Citigroup lifted their target price on Chevron from $210.00 to $235.00 and gave the stock a “buy” rating in a report on Thursday, April 2nd. BNP Paribas Exane upgraded shares of Chevron from a “neutral” rating to an “outperform” rating and set a $174.00 price target on the stock in a research report on Friday, April 17th. Finally, Wolfe Research raised shares of Chevron from a “peer perform” rating to an “outperform” rating and set a $210.00 price target for the company in a report on Thursday, July 2nd. Nineteen 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. Based on data from MarketBeat, Chevron has a consensus rating of “Moderate Buy” and an average price target of $205.17.

Insider Transactions at Chevron

In other Chevron news, Director John B. Hess sold 380,000 shares of the company’s stock in a transaction dated 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 completion of the sale, the director directly owned 278,045 shares of the company’s stock, valued at approximately $53,718,294. This represents a 57.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.56% of the company’s stock.

Key Headlines Impacting Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Piper Sandler initiated coverage on Chevron as the only global oil major with an outperform rating, a constructive signal versus peers. Chevron only outperform-rated name among global oil majors initiated at Piper Sandler
• Positive Sentiment: Oil prices surged above $100 a barrel intraday amid geopolitical tensions, which should improve Chevron’s realized prices and near-term earnings prospects. BATL, CVX, XOM Stocks Rise As Brent Crude Tops $100 – Trump Threatens Iran With ‘Major Military Punishment’ After Houthi Attack On Saudi Ships
• Positive Sentiment: Chevron was highlighted as an outperformer among dividend and integrated energy names, reinforcing its appeal as a defensive income stock in a stronger oil market. Chevron Leads 3 Dividend Aristocrats Paying Up to 4% and Beating the S&P 500
• Neutral Sentiment: Chevron shut production at a U.S. Gulf platform ahead of a tropical storm, a precautionary move that may temporarily limit output but is not necessarily a long-term issue. Chevron shuts production at U.S. Gulf platform ahead of tropical storm
• Neutral Sentiment: TD Cowen raised Chevron’s price target to $200 from $197 while keeping a hold rating, suggesting modest upside but not a major change in sentiment. Chevron price target raised by TD Cowen
• Negative Sentiment: One warning sign is that some strategists see a possible China demand slowdown and falling crude imports as a threat to the recent oil-driven rally later this year. Chevron’s Biggest Stock Rally Since 2022 Faces a China-Sized Problem

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.