Assetmark Inc. Boosts Stock Position in Chevron Corporation $CVX

Assetmark Inc. lifted its holdings in Chevron Corporation (NYSE:CVX) by 8.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 182,419 shares of the oil and gas company’s stock after acquiring an additional 14,578 shares during the quarter. Assetmark Inc.’s holdings in Chevron were worth $37,743,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of CVX. Dakota Wealth Management raised its stake in Chevron by 14.9% in the 4th quarter. Dakota Wealth Management now owns 83,265 shares of the oil and gas company’s stock valued at $12,690,000 after purchasing an additional 10,822 shares during the last quarter. Clear Trail Advisors LLC acquired a new stake in shares of Chevron during the fourth quarter worth about $10,167,000. Curtis Advisory Group LLC acquired a new position in shares of Chevron in the fourth quarter worth $1,381,000. Indivisible Partners purchased a new position in Chevron in the fourth quarter worth approximately $1,923,000. Finally, Cypress Wealth Services LLC boosted its holdings in shares of Chevron by 64.0% in the 4th quarter. Cypress Wealth Services LLC now owns 16,591 shares of the oil and gas company’s stock valued at $2,529,000 after buying an additional 6,475 shares in the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Key Headlines Impacting Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron is expected to sign accords with Iraq to advance investments in major oil fields, including West Qurna 2 and Nassiriya, which could expand long-term production opportunities. Reuters article on Iraq oilfield MOUs
• Positive Sentiment: Reports that Chevron is exploring a pipeline alternative to the Strait of Hormuz suggest a potential way to boost Iraqi export capacity and lower shipping disruption risk, which investors may view as strategically important. The Motley Fool article on Hormuz bypass pipeline
• Positive Sentiment: Chevron is being highlighted as a relatively attractive long-term energy stock versus TotalEnergies because of its premium assets, strong balance sheet, and steadier earnings outlook. Yahoo Finance article comparing CVX and TTE
• Neutral Sentiment: Some commentary says Chevron stock looks closer to fairly valued after a strong five-year run, which may limit upside for investors expecting a clear bargain. Yahoo Finance article on valuation
• Neutral Sentiment: Chevron also benefited from broader energy-sector gains, with the sector rising even as the wider market was mixed. Yahoo Finance sector update

Insider Transactions at Chevron

In other news, Director John B. Hess sold 380,000 shares of the business’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 transaction of $73,416,000.00. Following the sale, the director directly owned 278,045 shares in the company, valued at approximately $53,718,294. The trade was a 57.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.56% of the company’s stock.

Chevron Trading Up 1.9%

NYSE:CVX opened at $187.39 on Friday. The stock has a market cap of $373.21 billion, a PE ratio of 32.48, a price-to-earnings-growth ratio of 0.64 and a beta of 0.50. Chevron Corporation has a fifty-two week low of $146.49 and a fifty-two week high of $214.71. 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 stock’s 50-day moving average is $181.54 and its two-hundred day moving average is $182.44.

Chevron (NYSE:CVX) last issued its quarterly earnings data 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 net margin of 5.79% and a return on equity of 6.90%. The firm had revenue of $47.56 billion during the quarter, compared to analysts’ expectations of $51.86 billion. During the same period in the prior year, the company posted $2.18 earnings per share. Chevron’s revenue for the quarter was up 2.1% on a year-over-year basis. As a group, equities research analysts forecast that Chevron Corporation will post 14.83 earnings per share for the current fiscal year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Tuesday, May 19th were paid a $1.78 dividend. The ex-dividend date was Tuesday, May 19th. This represents a $7.12 annualized dividend and a dividend yield of 3.8%. Chevron’s dividend payout ratio (DPR) is presently 123.40%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Morgan Stanley cut their price objective on Chevron from $214.00 to $210.00 and set an “overweight” rating for the company in a research report on Monday, June 29th. Wells Fargo & Company lifted their price objective on shares of Chevron from $204.00 to $222.00 and gave the company an “overweight” rating in a research note on Thursday, April 9th. UBS Group reiterated a “buy” rating on shares of Chevron in a research note on Tuesday, June 23rd. Mizuho boosted their price target on Chevron from $225.00 to $230.00 and gave the company an “outperform” rating in a report on Wednesday, May 27th. Finally, Jefferies Financial Group reissued a “buy” rating and set a $216.00 price target on shares of Chevron in a research report on Friday, July 10th. Nineteen equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Chevron has an average rating of “Moderate Buy” and a consensus price target of $206.83.

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.