Chevron Corporation $CVX Shares Sold by Baxter Bros Inc.

Baxter Bros Inc. cut its position in shares of Chevron Corporation (NYSE:CVX) by 4.9% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 65,110 shares of the oil and gas company’s stock after selling 3,360 shares during the quarter. Chevron makes up 1.7% of Baxter Bros Inc.’s portfolio, making the stock its 18th largest holding. Baxter Bros Inc.’s holdings in Chevron were worth $13,471,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CVX. Greatmark Investment Partners Inc. boosted its stake in shares of Chevron by 5.7% during the 1st quarter. Greatmark Investment Partners Inc. now owns 34,086 shares of the oil and gas company’s stock worth $7,052,000 after acquiring an additional 1,835 shares in the last quarter. Canvas Wealth Advisors LLC increased its stake in shares of Chevron by 3.4% in the 1st quarter. Canvas Wealth Advisors LLC now owns 2,595 shares of the oil and gas company’s stock valued at $537,000 after purchasing an additional 85 shares in the last quarter. Grange Capital LLC acquired a new position in Chevron in the 1st quarter worth about $228,000. O Domhnaill Enterprises Inc. acquired a new position in Chevron in the 1st quarter worth about $2,497,000. Finally, Walser Wealth Management Company A Ltd Liability Co boosted its position in Chevron by 92.8% during the first quarter. Walser Wealth Management Company A Ltd Liability Co now owns 2,560 shares of the oil and gas company’s stock worth $530,000 after purchasing an additional 1,232 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Price Performance

Chevron stock opened at $173.96 on Wednesday. The company has a fifty day simple moving average of $182.69 and a 200-day simple moving average of $180.94. The firm has a market capitalization of $346.46 billion, a price-to-earnings ratio of 30.15, a PEG ratio of 0.56 and a beta of 0.50. The company has a quick ratio of 0.84, a current ratio of 1.09 and a debt-to-equity ratio of 0.21. Chevron Corporation has a 52-week low of $146.49 and a 52-week 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 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $0.41. The firm had revenue of $47.56 billion for the quarter, compared to analyst estimates of $51.86 billion. Chevron had a net margin of 5.79% and a return on equity of 6.90%. Chevron’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period in the previous year, the business posted $2.18 earnings per share. On average, equities analysts anticipate that Chevron Corporation will post 15.52 EPS for the current fiscal year.

Chevron Announces Dividend

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 dividend yield of 4.1%. The ex-dividend date of this dividend was Tuesday, May 19th. Chevron’s dividend payout ratio (DPR) is currently 123.40%.

Insider Activity at Chevron

In related news, Director John B. Hess sold 380,000 shares of Chevron stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $193.20, for a total transaction of $73,416,000.00. Following the transaction, the director owned 278,045 shares in the company, valued at approximately $53,718,294. This trade represents a 57.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 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: Wolfe Research upgraded Chevron to Outperform, citing a stronger cash-flow outlook tied to the company’s expanding Guyana development and other long-term growth projects. This Analyst Just Upgraded Chevron Stock. Here's Why.
• Positive Sentiment: Investors are also viewing Chevron more favorably after recent coverage highlighted strengthening fundamentals, better project execution, and the company’s cash-generation potential from Guyana and gas-fired power deals. Should Chevron’s (CVX) Index Exit and Guyana Upgrade Reframe How Investors View Its Cash-Flow Story?
• Neutral Sentiment: Broader energy-sector commentary says oil is trading well below the $100 threshold, with OPEC production increases and recession concerns weighing on crude prices; that creates uncertainty for Chevron’s near-term earnings outlook. Oil’s $100 Threshold: What It Means for Energy Stocks Now
• Negative Sentiment: Political pressure is also building, with criticism from the Trump administration and California Gov. Gavin Newsom over gasoline prices and Big Oil’s pricing power, which could keep sentiment around Chevron cautious. Big Oil's Windfall Earnings Threaten to Reignite Trump's Price-Gouging Push Gavin Newsom Slams Chevron, Says Gas Prices Still 'Elevated' Due to Trump's 'Reckless' Iran War

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $220.00 target price on shares of Chevron in a research note on Tuesday, May 5th. Piper Sandler boosted their price target on shares of Chevron from $179.00 to $242.00 and gave the stock an “overweight” rating in a report on Thursday, March 12th. Citigroup increased their price objective on shares of Chevron from $210.00 to $235.00 and gave the company a “buy” rating in a report on Thursday, April 2nd. TD Cowen lifted their target price on shares of Chevron from $204.00 to $205.00 and gave the company a “hold” rating in a research report on Friday, May 8th. Finally, Sanford C. Bernstein reduced their price target on shares of Chevron from $216.00 to $204.00 and set a “market perform” rating for the company in a research report on Monday, May 11th. Nineteen analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $205.71.

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.