Bearing Point Capital LLC Grows Position in Chevron Corporation $CVX

Bearing Point Capital LLC lifted its holdings in shares of Chevron Corporation (NYSE:CVX) by 6.6% in the fourth quarter, HoldingsChannel.com reports. The firm owned 49,649 shares of the oil and gas company’s stock after acquiring an additional 3,074 shares during the quarter. Bearing Point Capital LLC’s holdings in Chevron were worth $7,567,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Vanguard Group Inc. grew its holdings in shares of Chevron by 17.9% during the 3rd quarter. Vanguard Group Inc. now owns 183,790,028 shares of the oil and gas company’s stock worth $28,540,753,000 after purchasing an additional 27,961,463 shares during the period. State Street Corp grew its holdings in shares of Chevron by 9.1% during the 3rd quarter. State Street Corp now owns 152,605,988 shares of the oil and gas company’s stock worth $23,698,184,000 after purchasing an additional 12,789,399 shares during the period. Geode Capital Management LLC grew its holdings in shares of Chevron by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 43,613,011 shares of the oil and gas company’s stock worth $6,620,187,000 after purchasing an additional 134,890 shares during the period. Norges Bank purchased a new position in shares of Chevron during the 4th quarter worth $3,727,586,000. Finally, Northern Trust Corp grew its holdings in shares of Chevron by 15.3% during the 3rd quarter. Northern Trust Corp now owns 22,724,515 shares of the oil and gas company’s stock worth $3,528,890,000 after purchasing an additional 3,007,403 shares during the period. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. BMO Capital Markets reiterated an “outperform” rating and set a $190.00 price target on shares of Chevron in a report on Monday, February 2nd. Sanford C. Bernstein lowered their price target on Chevron from $216.00 to $204.00 and set a “market perform” rating for the company in a report on Monday, May 11th. Tudor Pickering upgraded Chevron from a “hold” rating to a “buy” rating and set a $225.00 price target for the company in a report on Thursday, April 9th. Zacks Research upgraded Chevron from a “hold” rating to a “strong-buy” rating in a report on Friday, April 3rd. Finally, Melius Research upgraded Chevron from a “hold” rating to a “buy” rating and set a $205.00 target price for the company in a report on Tuesday, February 17th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $205.70.

Insider Buying and Selling

In other Chevron news, Vice Chairman Mark A. Nelson sold 139,600 shares of the stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $187.92, for a total value of $26,233,632.00. Following the sale, the insider owned 11,337 shares of the company’s stock, valued at $2,130,449.04. This trade represents a 92.49% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider R. Hewitt Pate sold 40,200 shares of the firm’s stock in a transaction dated Monday, March 30th. The stock was sold at an average price of $213.30, for a total value of $8,574,660.00. Following the sale, the insider directly owned 8,638 shares in the company, valued at $1,842,485.40. This trade represents a 82.31% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 1,144,224 shares of company stock worth $218,075,038 over the last ninety days. Company insiders own 0.56% of the company’s stock.

Chevron News Summary

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron CEO Mike Wirth warned that attacks on ships in the Strait of Hormuz highlight “very real” supply risks, reinforcing the case for tighter oil markets and potentially higher prices for Chevron’s production. Ships Attacked in Strait of Hormuz This Week, Chevron Says
• Positive Sentiment: Chevron and Exxon executives also warned that falling inventories could push oil higher, which would likely support Chevron’s cash flow and earnings if crude prices continue rising. Exxon, Chevron heads warn of higher oil prices amid falling inventories
• Positive Sentiment: Chevron filed to take a 70% stake in a Greek offshore gas block, signaling continued international expansion and a larger long-term resource base. Chevron files request to acquire offshore Greek block, energy ministry says
• Positive Sentiment: Chevron said it will not pay a toll to move ships through Hormuz, showing it is holding firm on operational and geopolitical terms while the region remains volatile. Chevron won’t pay toll to move ships through Hormuz, CEO tells Bloomberg TV
• Neutral Sentiment: Chevron announced Scott A. Keller will become general counsel, while current chief legal officer R. Hewitt Pate’s retirement is expected later, a routine leadership transition with limited near-term operating impact. Chevron Names New General Counsel
• Neutral Sentiment: Market commentary and investor-interest pieces suggest Chevron remains on traders’ radar, but these items do not add major new fundamentals by themselves. Chevron Corporation (CVX) is Attracting Investor Attention: Here is What You Should Know
• Negative Sentiment: Oil prices softened on hopes for a U.S.-Iran truce extension, which could ease supply fears and weigh on Chevron shares if crude remains under pressure. Oil Prices Soften as Traders Bet on Renewal of US-Iran Truce
• Negative Sentiment: Draft ceasefire and shipping-normalization talks around the Strait of Hormuz could reduce the geopolitical risk premium embedded in oil prices, which may cap near-term upside for CVX. U.S. and Iran Reach Draft 60-Day Ceasefire and Nuclear Talks Framework Pending Trump Approval

Chevron Price Performance

CVX stock opened at $182.44 on Friday. 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 firm has a market capitalization of $363.34 billion, a P/E ratio of 31.62, a P/E/G ratio of 0.60 and a beta of 0.51. The business’s 50-day moving average is $192.27 and its two-hundred day moving average is $175.69. Chevron Corporation has a 1 year low of $135.21 and a 1 year 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 (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.41. The company had revenue of $47.56 billion for the quarter, compared to analyst estimates of $51.86 billion. Chevron had a return on equity of 6.90% and a net margin of 5.79%.Chevron’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter last year, the company earned $2.18 EPS. Analysts anticipate that Chevron Corporation will post 15.74 earnings per share for the current fiscal year.

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Shareholders of record on Tuesday, May 19th will be given a $1.78 dividend. The ex-dividend date of this dividend is Tuesday, May 19th. This represents a $7.12 dividend on an annualized basis and a yield of 3.9%. Chevron’s dividend payout ratio (DPR) is currently 123.40%.

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.