White Pine Investment CO Reduces Stock Position in Chevron Corporation $CVX

White Pine Investment CO cut its position in Chevron Corporation (NYSE:CVX) by 7.5% during the first quarter, Holdings Channel reports. The firm owned 35,967 shares of the oil and gas company’s stock after selling 2,911 shares during the period. Chevron makes up approximately 1.7% of White Pine Investment CO’s portfolio, making the stock its 27th largest position. White Pine Investment CO’s holdings in Chevron were worth $7,441,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of CVX. United Bank raised its stake in shares of Chevron by 7.7% during the 2nd quarter. United Bank now owns 11,079 shares of the oil and gas company’s stock valued at $1,586,000 after buying an additional 796 shares during the last quarter. Schnieders Capital Management LLC. boosted its stake in shares of Chevron by 9.0% in the second quarter. Schnieders Capital Management LLC. now owns 50,839 shares of the oil and gas company’s stock worth $7,280,000 after buying an additional 4,214 shares during the last quarter. BNP Paribas boosted its stake in shares of Chevron by 76.4% in the second quarter. BNP Paribas now owns 441 shares of the oil and gas company’s stock worth $63,000 after buying an additional 191 shares during the last quarter. Osterweis Capital Management Inc. grew its holdings in Chevron by 678.9% during the second quarter. Osterweis Capital Management Inc. now owns 1,363 shares of the oil and gas company’s stock worth $195,000 after acquiring an additional 1,188 shares during the period. Finally, Main Street Financial Solutions LLC grew its holdings in Chevron by 3.6% during the second quarter. Main Street Financial Solutions LLC now owns 16,052 shares of the oil and gas company’s stock worth $2,299,000 after acquiring an additional 553 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Insiders Place Their Bets

In other Chevron news, insider R. Hewitt Pate sold 40,200 shares of the 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 transaction, the insider directly owned 8,638 shares of the company’s stock, valued at $1,842,485.40. This trade represents a 82.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director John B. Hess sold 380,000 shares of Chevron 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 owned 278,045 shares in the company, valued at approximately $53,718,294. This trade represents a 57.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 615,200 shares of company stock valued at $118,022,760 over the last 90 days. 0.56% of the stock is currently owned by company insiders.

Key Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron’s 20-year deal to supply natural gas for Microsoft’s West Texas AI data center strengthens the company’s role in the AI power buildout and could provide a durable new demand source for Permian gas. Chevron, Microsoft deal fuels West Texas data center expansion
• Positive Sentiment: Market coverage highlights Chevron’s Microsoft partnership as a potential growth platform, with investors increasingly treating natural gas power for AI data centers as a new opportunity for the company. Microsoft Solves AI’s Biggest Bottleneck With Chevron Deal (CVX)
• Neutral Sentiment: Chevron said operations in Venezuela continue after the earthquake, suggesting no immediate disruption there, but the update does not appear to be a major stock-moving development. Update: Market Chatter: Chevron Says Operations in Venezuela Continue After Earthquake
• Negative Sentiment: Trump’s announcement that Exxon Mobil and Chevron are being probed over gasoline pricing has created regulatory overhang and weighed on Big Oil sentiment. Trump says Exxon, Chevron among firms probed as part of surge in gas prices
• Negative Sentiment: Chevron’s CFO acknowledged gasoline prices should ease but warned the pass-through from lower crude prices will take time, reinforcing near-term pressure from public and political scrutiny. Chevron CFO says gas prices will normalize after Trump presses Big Oil

Chevron Stock Performance

Shares of CVX stock opened at $172.19 on Friday. The company has a current ratio of 1.09, a quick ratio of 0.84 and a debt-to-equity ratio of 0.21. Chevron Corporation has a 12-month low of $142.40 and a 12-month high of $214.71. The business’s 50 day moving average is $185.38 and its two-hundred day moving average is $179.84. The company has a market capitalization of $342.93 billion, a P/E ratio of 29.84, a P/E/G ratio of 0.56 and a beta of 0.48.

Chevron (NYSE:CVX) last posted its quarterly earnings data 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 business 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%.During the same period in the previous year, the business earned $2.18 earnings per share. The business’s revenue was up 2.1% compared to the same quarter last year. Analysts expect that Chevron Corporation will post 15.88 EPS for the current fiscal year.

Chevron Dividend Announcement

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

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. The Goldman Sachs Group reissued a “buy” rating and issued a $216.00 price target on shares of Chevron in a report on Wednesday, May 6th. Barclays lifted their target price on shares of Chevron from $192.00 to $213.00 and gave the company an “equal weight” rating in a report on Tuesday, May 26th. Weiss Ratings downgraded shares of Chevron from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, June 2nd. Royal Bank Of Canada restated an “outperform” rating and set a $220.00 price target on shares of Chevron in a research report on Tuesday, May 5th. Finally, Piper Sandler lifted their price objective on shares of Chevron from $179.00 to $242.00 and gave the company an “overweight” rating in a report on Thursday, March 12th. 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $205.70.

About Chevron

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.