Capital Wealth Planning LLC Has $422.37 Million Holdings in Chevron Corporation $CVX

Capital Wealth Planning LLC lifted its position in shares of Chevron Corporation (NYSE:CVX) by 6.6% during the 4th quarter, Holdings Channel.com reports. The firm owned 2,744,140 shares of the oil and gas company’s stock after purchasing an additional 169,794 shares during the quarter. Chevron accounts for approximately 2.7% of Capital Wealth Planning LLC’s investment portfolio, making the stock its 19th largest holding. Capital Wealth Planning LLC’s holdings in Chevron were worth $422,368,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of CVX. Dakota Wealth Management raised its position 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. Brooklyn FI LLC bought a new position in Chevron in the 3rd quarter valued at $431,000. Clear Trail Advisors LLC bought a new position in Chevron in the 4th quarter valued at $10,167,000. Finemark National Bank & Trust raised its position in Chevron by 40.3% in the 3rd quarter. Finemark National Bank & Trust now owns 56,535 shares of the oil and gas company’s stock valued at $8,779,000 after purchasing an additional 16,243 shares during the last quarter. Finally, Curtis Advisory Group LLC bought a new position in Chevron in the 4th quarter valued at $1,381,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Stock Up 1.7%

NYSE CVX opened at $189.89 on Thursday. The stock has a fifty day moving average of $189.38 and a 200-day moving average of $177.75. The stock has a market capitalization of $378.19 billion, a P/E ratio of 32.91, a price-to-earnings-growth ratio of 0.62 and a beta of 0.48. Chevron Corporation has a 52 week low of $142.40 and a 52 week high of $214.71. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.84 and a current ratio of 1.09.

Chevron (NYSE:CVX) last released its earnings results on Friday, May 1st. The oil and gas company reported $1.41 EPS for the quarter, beating the consensus estimate of $1.00 by $0.41. The company had revenue of $47.56 billion during the quarter, compared to analysts’ expectations of $51.86 billion. Chevron had a return on equity of 6.90% and a net margin of 5.79%.The business’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same period last year, the firm earned $2.18 EPS. On average, equities research analysts forecast that Chevron Corporation will post 15.74 EPS for the current year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Tuesday, May 19th were paid a $1.78 dividend. This represents a $7.12 annualized dividend and a dividend yield of 3.7%. The ex-dividend date of this dividend was Tuesday, May 19th. Chevron’s dividend payout ratio (DPR) is 123.40%.

Insider Buying and Selling at Chevron

In other news, Director John B. Hess sold 380,000 shares of Chevron stock in a transaction on 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 completion of the sale, the director directly owned 278,045 shares of the company’s stock, valued at approximately $53,718,294. This trade represents a 57.75% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider R. Hewitt Pate sold 40,200 shares of Chevron stock in a transaction on 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 of the company’s stock, valued at approximately $1,842,485.40. This trade represents a 82.31% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 615,200 shares of company stock valued at $118,022,760 over the last three months. Insiders own 0.56% of the company’s stock.

Trending Headlines about Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron was highlighted as one of the top oil stocks to buy as energy investors look for resilient names, with articles emphasizing its defensive cash flows and income appeal. Article Title
• Positive Sentiment: Market commentary on Chevron’s Guyana assets pointed to a combined $7.6 billion profit for ExxonMobil and Chevron last year, reinforcing the value of its low-cost production base amid geopolitical tensions. Article Title
• Positive Sentiment: Chevron was also featured in a bullish technical forecast saying momentum is improving and buyers may be regaining control as the stock approaches a breakout level. Article Title
• Positive Sentiment: Reports that Chevron is advancing a major shale project in Argentina’s Vaca Muerta basin and moving closer to approval for a $13.8 billion investment could support future production growth. Article Title
• Neutral Sentiment: Chevron continues to attract attention as a dividend stock for retirement portfolios, which supports the investment case but does not represent a new catalyst. Article Title
• Negative Sentiment: Zacks Research downgraded Chevron from strong-buy to hold, which could temper enthusiasm despite the stock’s otherwise constructive news flow. Article Title

Wall Street Analysts Forecast Growth

CVX has been the subject of several research analyst reports. Melius Research upgraded Chevron from a “hold” rating to a “buy” rating and set a $205.00 price objective for the company in a research report on Tuesday, February 17th. Zacks Research downgraded Chevron from a “strong-buy” rating to a “hold” rating in a research report on Monday. Weiss Ratings downgraded Chevron from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, June 2nd. Wells Fargo & Company lifted their price objective on Chevron from $204.00 to $222.00 and gave the company an “overweight” rating in a research report on Thursday, April 9th. Finally, Citigroup lifted their price objective on Chevron from $210.00 to $235.00 and gave the company a “buy” rating in a research report on Thursday, April 2nd. Eighteen analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Chevron currently has an average rating of “Moderate Buy” and an average price target of $205.70.

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.