Claris Financial LLC Acquires New Position in Chevron Corporation $CVX

Claris Financial LLC purchased a new stake in shares of Chevron Corporation (NYSE:CVX) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 5,242 shares of the oil and gas company’s stock, valued at approximately $799,000.

A number of other hedge funds also recently added to or reduced their stakes in the company. D.B. Root & Company LLC lifted its holdings in shares of Chevron by 1.0% during the fourth quarter. D.B. Root & Company LLC now owns 5,552 shares of the oil and gas company’s stock valued at $846,000 after purchasing an additional 57 shares in the last quarter. Fox Hill Wealth Management boosted its position in shares of Chevron by 1.7% during the fourth quarter. Fox Hill Wealth Management now owns 3,443 shares of the oil and gas company’s stock valued at $525,000 after buying an additional 57 shares during the last quarter. Cornerstone Planning Group LLC increased its holdings in Chevron by 6.8% in the 4th quarter. Cornerstone Planning Group LLC now owns 930 shares of the oil and gas company’s stock worth $142,000 after buying an additional 59 shares in the last quarter. MMA Asset Management LLC raised its position in Chevron by 3.4% in the 4th quarter. MMA Asset Management LLC now owns 1,820 shares of the oil and gas company’s stock worth $277,000 after buying an additional 59 shares during the last quarter. Finally, EWA LLC raised its position in Chevron by 2.8% in the 4th quarter. EWA LLC now owns 2,182 shares of the oil and gas company’s stock worth $333,000 after buying an additional 59 shares during the last quarter. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Chevron Stock Performance

CVX opened at $173.51 on Friday. The company has a 50 day simple moving average of $187.02 and a two-hundred day simple moving average of $179.05. 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 firm has a market cap of $345.56 billion, a P/E 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.

Chevron (NYSE:CVX) last posted 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. Chevron had a return on equity of 6.90% and a net margin of 5.79%.The business had revenue of $47.56 billion for the quarter, compared to analysts’ expectations of $51.86 billion. During the same period last year, the firm earned $2.18 earnings per share. The business’s quarterly revenue was up 2.1% on a year-over-year basis. Equities analysts forecast that Chevron Corporation will post 15.88 earnings per share for the current fiscal year.

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Tuesday, May 19th were paid a $1.78 dividend. This represents a $7.12 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date of this dividend was Tuesday, May 19th. Chevron’s dividend payout ratio (DPR) is presently 123.40%.

Key Stories 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

Wall Street Analyst Weigh In

CVX has been the topic of several research reports. Sanford C. Bernstein dropped their target price on shares of Chevron from $216.00 to $204.00 and set a “market perform” rating on the stock in a report on Monday, May 11th. BNP Paribas Exane upgraded shares of Chevron from a “neutral” rating to an “outperform” rating and set a $174.00 target price for the company in a research note on Friday, April 17th. Morgan Stanley increased their price target on Chevron from $212.00 to $214.00 and gave the company an “overweight” rating in a report on Friday, May 22nd. Barclays raised 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. Finally, Wells Fargo & Company upped their price objective on Chevron from $204.00 to $222.00 and gave the company an “overweight” rating in a research report on Thursday, April 9th. Eighteen investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Chevron presently has an average rating of “Moderate Buy” and a consensus price target of $205.70.

Insider Transactions at Chevron

In other Chevron news, insider R. Hewitt Pate sold 40,200 shares of the firm’s stock in a transaction dated Monday, March 30th. The shares were sold at an average price of $213.30, for a total value of $8,574,660.00. Following the completion of the sale, the insider 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John B. Hess sold 380,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $193.20, for a total value of $73,416,000.00. Following the sale, the director directly owned 278,045 shares of the company’s stock, valued at $53,718,294. This represents a 57.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 615,200 shares of company stock worth $118,022,760. Insiders own 0.56% of the company’s stock.

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.