ANB Bank Grows Stake in Chevron Corporation $CVX

ANB Bank increased its position in shares of Chevron Corporation (NYSE:CVX) by 17.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 20,056 shares of the oil and gas company’s stock after buying an additional 3,015 shares during the period. Chevron comprises approximately 1.7% of ANB Bank’s holdings, making the stock its 12th largest holding. ANB Bank’s holdings in Chevron were worth $4,150,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Ascent Wealth Partners LLC lifted its stake in Chevron by 4.7% in the first quarter. Ascent Wealth Partners LLC now owns 6,120 shares of the oil and gas company’s stock worth $1,266,000 after acquiring an additional 273 shares during the period. Kinsale Capital Group Inc. grew its holdings in Chevron by 6.0% during the 1st quarter. Kinsale Capital Group Inc. now owns 53,155 shares of the oil and gas company’s stock worth $10,998,000 after acquiring an additional 2,995 shares in the last quarter. Freemont Management S.A. purchased a new position in Chevron during the 1st quarter valued at about $5,628,000. Aviance Capital Partners LLC increased its position in Chevron by 1.6% during the 1st quarter. Aviance Capital Partners LLC now owns 15,168 shares of the oil and gas company’s stock valued at $3,138,000 after purchasing an additional 233 shares during the period. Finally, McAlvany Wealth Management LLC raised its holdings in shares of Chevron by 58.6% in the 1st quarter. McAlvany Wealth Management LLC now owns 17,990 shares of the oil and gas company’s stock valued at $3,791,000 after purchasing an additional 6,648 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Chevron

In other news, Director John B. Hess sold 380,000 shares of the 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 approximately $53,718,294. This represents a 57.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.56% of the company’s stock.

Chevron Trading Up 1.9%

NYSE CVX opened at $187.39 on Friday. Chevron Corporation has a 12-month low of $146.49 and a 12-month high of $214.71. The company has a fifty day simple moving average of $181.54 and a two-hundred day simple moving average of $182.44. The company has a current ratio of 1.09, a quick ratio of 0.84 and a debt-to-equity ratio of 0.21. The stock has a market cap of $373.21 billion, a P/E ratio of 32.48, a P/E/G ratio of 0.66 and a beta of 0.50.

Chevron (NYSE:CVX) last released its earnings results on Friday, May 1st. The oil and gas company reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate 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 the consensus estimate of $51.86 billion. During the same period in the prior year, the firm earned $2.18 EPS. The firm’s revenue was up 2.1% on a year-over-year basis. On average, analysts forecast that Chevron Corporation will post 14.78 earnings per share for the current year.

Chevron Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Tuesday, May 19th were paid a dividend of $1.78 per share. This represents a $7.12 annualized dividend and a yield of 3.8%. The ex-dividend date was Tuesday, May 19th. Chevron’s payout ratio is presently 123.40%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Weiss Ratings cut shares of Chevron from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, June 2nd. The Goldman Sachs Group reissued a “buy” rating and set a $216.00 price objective on shares of Chevron in a report on Wednesday, May 6th. Barclays raised their price objective on Chevron from $192.00 to $213.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 26th. Wolfe Research upgraded Chevron from a “peer perform” rating to an “outperform” rating and set a $210.00 target price on the stock in a research note on Thursday, July 2nd. Finally, Citigroup boosted their target price on shares of Chevron from $210.00 to $235.00 and gave the stock a “buy” rating in a report on Thursday, April 2nd. 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. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $206.83.

Key Stories 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

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.