Aristotle Capital Management LLC Acquires 3,925,137 Shares of Chevron Corporation $CVX

Aristotle Capital Management LLC increased its holdings in Chevron Corporation (NYSE:CVX) by 653.0% in the first quarter, Holdings Channel.com reports. The firm owned 4,526,223 shares of the oil and gas company’s stock after acquiring an additional 3,925,137 shares during the period. Chevron makes up approximately 2.0% of Aristotle Capital Management LLC’s investment portfolio, making the stock its 16th biggest position. Aristotle Capital Management LLC’s holdings in Chevron were worth $936,492,000 as of its most recent filing with the SEC.

Several other institutional investors have also added to or reduced their stakes in the business. United Bank boosted its stake in shares of Chevron by 7.7% during the second quarter. United Bank now owns 11,079 shares of the oil and gas company’s stock valued at $1,586,000 after purchasing an additional 796 shares during the period. Schnieders Capital Management LLC. boosted its holdings in shares of Chevron by 9.0% during the second quarter. Schnieders Capital Management LLC. now owns 50,839 shares of the oil and gas company’s stock worth $7,280,000 after purchasing an additional 4,214 shares during the period. BNP Paribas increased its holdings in Chevron by 76.4% during the 2nd quarter. BNP Paribas now owns 441 shares of the oil and gas company’s stock valued at $63,000 after purchasing an additional 191 shares during the period. Osterweis Capital Management Inc. lifted its stake in Chevron by 678.9% in the second quarter. Osterweis Capital Management Inc. now owns 1,363 shares of the oil and gas company’s stock worth $195,000 after acquiring an additional 1,188 shares during the period. Finally, Main Street Financial Solutions LLC lifted its position in shares of Chevron by 3.6% in the 2nd quarter. Main Street Financial Solutions LLC now owns 16,052 shares of the oil and gas company’s stock worth $2,299,000 after purchasing an additional 553 shares during the period. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Chevron

In related news, Director John B. Hess sold 380,000 shares of the company’s stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $193.20, for a total value of $73,416,000.00. Following the completion of the transaction, the director owned 278,045 shares of the company’s stock, valued at approximately $53,718,294. This represents a 57.75% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.56% of the company’s stock.

Chevron News Roundup

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron was highlighted as one of the biggest beneficiaries of the recent oil rally, with Brent briefly topping $100 a barrel and integrated oil majors gaining as investors price in tighter global supply. BATL, CVX, XOM Stocks Rise As Brent Crude Tops $100 – Trump Threatens Iran With ‘Major Military Punishment’ After Houthi Attack On Saudi Ships
• Positive Sentiment: Chevron was also singled out as the only “outperform”-rated global oil major in Piper Sandler’s new coverage, reinforcing a relatively favorable analyst view versus peers. Chevron only outperform-rated name among global oil majors initiated at Piper Sandler
• Neutral Sentiment: Recent commentary says Chevron is rallying despite a classic bearish signal, suggesting momentum traders are still buying the stock even after the move in oil. Chevron ignored a classic bearish call: Here’s why stock is rallying
• Neutral Sentiment: Several previews ahead of next week’s earnings note that Chevron is expected to report higher earnings, but one Zacks piece warns the company may not have the ideal setup for a clear beat. Chevron (CVX) Earnings Expected to Grow: What to Know Ahead of Next Week’s Release
• Negative Sentiment: Some analysis cautions that Chevron’s rally could face headwinds if Chinese crude demand weakens, which could limit upside even if oil prices remain elevated. Chevron’s Biggest Stock Rally Since 2022 Faces a China-Sized Problem

Chevron Stock Performance

Shares of NYSE CVX opened at $194.72 on Friday. Chevron Corporation has a 12-month low of $146.49 and a 12-month high of $214.71. The firm has a market capitalization of $387.80 billion, a price-to-earnings ratio of 33.75, a price-to-earnings-growth ratio of 0.69 and a beta of 0.50. 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 firm has a 50 day moving average of $182.12 and a 200 day moving average of $183.83.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, May 1st. The oil and gas company reported $1.41 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.41. The business had revenue of $47.56 billion for the quarter, compared to the consensus estimate of $51.86 billion. Chevron had a net margin of 5.79% and a return on equity of 6.90%. The company’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period last year, the firm earned $2.18 earnings per share. On average, research analysts anticipate that Chevron Corporation will post 14.75 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 given a dividend of $1.78 per share. This represents a $7.12 annualized dividend and a dividend yield of 3.7%. The ex-dividend date was Tuesday, May 19th. Chevron’s dividend payout ratio (DPR) is presently 123.40%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CVX. Barclays raised their target price on Chevron from $192.00 to $213.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 26th. Mizuho raised 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. Zacks Research lowered Chevron from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 8th. BNP Paribas Exane raised Chevron from a “neutral” rating to an “outperform” rating and set a $174.00 price objective on the stock in a research report on Friday, April 17th. Finally, Tudor Pickering upgraded Chevron from a “hold” rating to a “buy” rating and set a $225.00 target price on the stock in a research note on Thursday, April 9th. Nineteen equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $205.17.

Chevron 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.