Formidable Asset Management LLC Reduces Stock Holdings in Chevron Corporation $CVX

Formidable Asset Management LLC lowered its holdings in Chevron Corporation (NYSE:CVX) by 13.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 22,510 shares of the oil and gas company’s stock after selling 3,548 shares during the quarter. Chevron accounts for 0.7% of Formidable Asset Management LLC’s holdings, making the stock its 26th biggest position. Formidable Asset Management LLC’s holdings in Chevron were worth $4,657,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the business. D.B. Root & Company LLC grew its position in Chevron by 1.0% during the 4th quarter. D.B. Root & Company LLC now owns 5,552 shares of the oil and gas company’s stock worth $846,000 after purchasing an additional 57 shares during the period. Chatterton & Associates Inc. raised its stake in shares of Chevron by 1.7% during the 1st quarter. Chatterton & Associates Inc. now owns 3,427 shares of the oil and gas company’s stock valued at $652,000 after buying an additional 57 shares during the last quarter. First United Bank & Trust raised its stake in shares of Chevron by 0.5% during the 1st quarter. First United Bank & Trust now owns 12,532 shares of the oil and gas company’s stock valued at $2,593,000 after buying an additional 57 shares during the last quarter. Fox Hill Wealth Management lifted its holdings in shares of Chevron by 1.7% in the 4th quarter. Fox Hill Wealth Management now owns 3,443 shares of the oil and gas company’s stock valued at $525,000 after buying an additional 57 shares during the period. Finally, Cornerstone Planning Group LLC lifted its holdings in shares of Chevron by 6.8% in the 4th quarter. Cornerstone Planning Group LLC now owns 930 shares of the oil and gas company’s stock valued at $142,000 after buying an additional 59 shares during the period. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Zacks Research downgraded Chevron from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 8th. Citigroup lifted their price target on Chevron from $210.00 to $235.00 and gave the company a “buy” rating in a research report on Thursday, April 2nd. Weiss Ratings downgraded Chevron from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, June 2nd. HSBC upgraded Chevron from a “hold” rating to a “buy” rating and set a $215.00 price objective on the stock in a research report on Friday, March 20th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $216.00 price objective on shares of Chevron in a research note on Wednesday, May 6th. Eighteen 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 company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $205.52.

Insiders Place Their Bets

In other Chevron news, Director John B. Hess sold 380,000 shares of Chevron stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $193.20, for a total transaction of $73,416,000.00. Following the sale, the director owned 278,045 shares of the company’s stock, valued at $53,718,294. The trade was a 57.75% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.56% of the company’s stock.

Key Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron is expanding its data-center power strategy beyond Project Kilby, using natural gas to target rising AI-related electricity demand and potentially opening a new growth avenue. Chevron Expands Data Center Power Strategy Beyond Project Kilby
• Positive Sentiment: Chevron secured Texas Pacific Land support for Project Kilby, a large joint initiative with Microsoft, reinforcing execution on a potentially meaningful infrastructure and power project. Chevron Corporation (CVX) Secures Texas Pacific Land Support on Microsoft’s Project Kilby
• Positive Sentiment: Morgan Stanley kept an overweight rating on Chevron while trimming its price target only slightly to $210, signaling continued analyst confidence in upside from current levels. Benzinga report on Morgan Stanley price target cut
• Neutral Sentiment: Several recent articles highlight Chevron’s push deeper into offshore energy and its broader role in a volatile oil market, but these are more about strategy and sector positioning than a clear near-term catalyst. Chevron (NYSE:CVX) Pushes Deeper Into Offshore Energy
• Neutral Sentiment: Comparisons with Occidental Petroleum and commentary on Chevron’s valuation suggest investors are still weighing CVX’s upside versus peers, but no decisive new fundamental shift was reported. Occidental Petroleum or Chevron: Which Oil Stock Offers More Upside?
• Negative Sentiment: Chevron is being hurt by weaker crude prices, which pressure near-term oil and gas earnings expectations and weigh on sentiment across the sector. Why Is Chevron (NYSE:CVX) in Focus As Crude Slips?
• Negative Sentiment: Coverage noting that oil prices have fallen back toward pre-Iran-war levels suggests the broader commodity backdrop is less supportive for CVX in the near term. Energy ETFs to Buy as Oil Price Slides to Pre-Iran War Level

Chevron Price Performance

Shares of Chevron stock opened at $168.61 on Tuesday. The stock has a market capitalization of $335.81 billion, a P/E ratio of 29.22, a PEG ratio of 0.56 and a beta of 0.48. The business has a 50 day simple moving average of $184.71 and a two-hundred day simple moving average of $180.14. Chevron Corporation has a 12 month low of $142.40 and a 12 month 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.

Chevron (NYSE:CVX) last issued its quarterly earnings results 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 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 analyst estimates of $51.86 billion. During the same period in the previous year, the company posted $2.18 earnings per share. The business’s revenue was up 2.1% on a year-over-year basis. As a group, analysts predict that Chevron Corporation will post 15.88 EPS for the current fiscal year.

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Tuesday, May 19th were issued a $1.78 dividend. The ex-dividend date was Tuesday, May 19th. This represents a $7.12 dividend on an annualized basis and a yield of 4.2%. Chevron’s dividend payout ratio (DPR) is presently 123.40%.

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.