Chevron Corporation $CVX Shares Sold by Castellan Group

Castellan Group decreased its position in Chevron Corporation (NYSE:CVX) by 44.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,381 shares of the oil and gas company’s stock after selling 9,140 shares during the period. Chevron makes up about 0.3% of Castellan Group’s portfolio, making the stock its 23rd biggest holding. Castellan Group’s holdings in Chevron were worth $2,355,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Core Wealth Advisors LLC acquired a new position in shares of Chevron in the fourth quarter valued at about $26,000. Phillip James Consulting Co. acquired a new stake in shares of Chevron during the fourth quarter worth about $26,000. Basso Capital Management L.P. acquired a new stake in shares of Chevron during the fourth quarter worth about $27,000. Karpus Management Inc. purchased a new stake in Chevron in the fourth quarter valued at approximately $27,000. Finally, Quattro Advisors LLC purchased a new stake in Chevron in the fourth quarter valued at approximately $27,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. The Goldman Sachs Group reiterated a “buy” rating and issued a $216.00 price target on shares of Chevron in a report on Wednesday, May 6th. UBS Group restated a “buy” rating on shares of Chevron in a research note on Tuesday, June 23rd. Mizuho upped their price objective on shares of Chevron from $225.00 to $230.00 and gave the company an “outperform” rating in a report on Wednesday, May 27th. Weiss Ratings lowered shares of Chevron from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, June 2nd. Finally, Citigroup raised 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. Eighteen investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $205.52.

Key Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron was highlighted as a reliable income stock with a 4.2% dividend yield, reinforcing its appeal to income-focused investors. This Energy Stock Pays a 4.2% Dividend That You Can Bank On
• Positive Sentiment: Chevron was included among integrated energy stocks expected to benefit from solid oil prices, a stable business mix, and strong midstream operations. 3 Integrated Energy Stocks to Gain From Promising Industry Trend
• Positive Sentiment: Chevron is expanding into data center power projects tied to AI electricity demand, including work beyond Project Kilby, which could create a new growth avenue for its natural gas business. Chevron Expands Data Center Power Strategy Beyond Project Kilby
• Positive Sentiment: Chevron also received attention for securing Texas Pacific Land support for Microsoft’s Project Kilby, signaling progress on a large strategic energy-infrastructure partnership. Chevron Corporation (CVX) Secures Texas Pacific Land Support on Microsoft’s Project Kilby
• Neutral Sentiment: Several recent commentaries focused on Chevron’s positioning in offshore energy and broader oil-and-gas trends, but these pieces were mostly informational rather than directly moving the stock. Chevron (NYSE:CVX) Pushes Deeper Into Offshore Energy
• Negative Sentiment: Chevron shares came under pressure as energy markets weakened, with lower crude prices and Morgan Stanley’s oil-demand warning weighing on sentiment across the sector. BP, Shell, Chevron shares on edge as Morgan Stanley slashes oil forecast
• Negative Sentiment: A separate analysis suggested Occidental Petroleum may offer more upside than Chevron based on valuation and earnings-growth metrics, which could temper investor enthusiasm for CVX. Occidental Petroleum or Chevron: Which Oil Stock Offers More Upside?

Chevron Price Performance

NYSE:CVX opened at $165.69 on Wednesday. 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 company has a 50 day moving average price of $184.34 and a 200-day moving average price of $180.24. Chevron Corporation has a 1-year low of $142.51 and a 1-year high of $214.71. The firm has a market cap of $329.99 billion, a price-to-earnings ratio of 28.72, a price-to-earnings-growth ratio of 0.57 and a beta of 0.48.

Chevron (NYSE:CVX) last announced 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. The firm 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 firm’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.18 earnings per share. Equities research analysts forecast that Chevron Corporation will post 15.41 EPS for the current 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 given a $1.78 dividend. The ex-dividend date was Tuesday, May 19th. This represents a $7.12 dividend on an annualized basis and a dividend yield of 4.3%. Chevron’s dividend payout ratio is 123.40%.

Insider Activity

In other news, Director John B. Hess sold 380,000 shares of the stock in a transaction dated 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 directly owned 278,045 shares of the company’s stock, valued at $53,718,294. This represents a 57.75% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.56% of the stock is currently owned by insiders.

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.