Ibex Wealth Advisors Raises Holdings in Chevron Corporation $CVX

Ibex Wealth Advisors raised its holdings in Chevron Corporation (NYSE:CVX) by 7.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 56,559 shares of the oil and gas company’s stock after acquiring an additional 4,134 shares during the quarter. Chevron accounts for about 1.1% of Ibex Wealth Advisors’ holdings, making the stock its 26th biggest position. Ibex Wealth Advisors’ holdings in Chevron were worth $11,702,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in the stock. Compton Financial Group LLC lifted its stake in shares of Chevron by 1.9% in the first quarter. Compton Financial Group LLC now owns 2,944 shares of the oil and gas company’s stock valued at $609,000 after purchasing an additional 56 shares during the period. Quantum Portfolio Management LLC boosted its holdings in Chevron by 2.7% during the first quarter. Quantum Portfolio Management LLC now owns 2,101 shares of the oil and gas company’s stock worth $435,000 after buying an additional 56 shares in the last quarter. D.B. Root & Company LLC grew its position in 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 worth $846,000 after buying an additional 57 shares during the period. Chatterton & Associates Inc. grew its position in Chevron by 1.7% during the first quarter. Chatterton & Associates Inc. now owns 3,427 shares of the oil and gas company’s stock worth $652,000 after buying an additional 57 shares during the period. Finally, First United Bank & Trust increased its holdings in Chevron by 0.5% in the first quarter. First United Bank & Trust now owns 12,532 shares of the oil and gas company’s stock valued at $2,593,000 after buying an additional 57 shares in the last quarter. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Key Stories Impacting Chevron

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

Analyst Upgrades and Downgrades

Several research firms recently weighed in on CVX. Wolfe Research raised Chevron from a “peer perform” rating to an “outperform” rating and set a $210.00 price objective for the company in a research note on Thursday, July 2nd. Zacks Research downgraded Chevron from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 8th. Tudor Pickering raised Chevron from a “hold” rating to a “buy” rating and set a $225.00 target price on the stock in a report on Thursday, April 9th. Piper Sandler lifted their price target on Chevron from $179.00 to $242.00 and gave the stock an “overweight” rating in a research note on Thursday, March 12th. Finally, Citigroup boosted their price objective on shares of Chevron from $210.00 to $235.00 and gave the stock a “buy” rating in a research report on Thursday, April 2nd. Nineteen investment 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’s stock. Based on data from MarketBeat.com, Chevron presently has an average rating of “Moderate Buy” and a consensus target price of $205.71.

Insider Activity at Chevron

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

Chevron Trading Down 1.1%

Shares of Chevron stock opened at $174.05 on Friday. Chevron Corporation has a fifty-two week low of $146.49 and a fifty-two week high of $214.71. The business’s fifty day moving average is $182.23 and its two-hundred day moving average is $181.32. 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 $346.64 billion, a PE ratio of 30.16, a P/E/G ratio of 0.60 and a beta of 0.50.

Chevron (NYSE:CVX) last issued its quarterly 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 firm had revenue of $47.56 billion for the quarter, compared to analyst estimates of $51.86 billion. During the same period last year, the company earned $2.18 EPS. The firm’s quarterly revenue was up 2.1% on a year-over-year basis. Analysts anticipate that Chevron Corporation will post 15.28 earnings per share for the current year.

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Tuesday, May 19th were issued 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 was Tuesday, May 19th. Chevron’s dividend payout ratio (DPR) is 123.40%.

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.