Decker Wealth Management LLC Buys New Position in Chevron Corporation $CVX

Decker Wealth Management LLC bought a new stake in shares of Chevron Corporation (NYSE:CVX) in the first quarter, Holdings Channel.com reports. The fund bought 2,857 shares of the oil and gas company’s stock, valued at approximately $591,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. Midwest Capital Advisors LLC bought a new stake in shares of Chevron in the 1st quarter valued at $25,000. Core Wealth Advisors LLC bought a new position in Chevron during the fourth quarter worth $26,000. Phillip James Consulting Co. bought a new position in Chevron during the fourth quarter worth $26,000. Basso Capital Management L.P. acquired a new position in Chevron in the fourth quarter valued at $27,000. Finally, Karpus Management Inc. acquired a new position in Chevron in the fourth quarter valued at $27,000. Institutional investors own 72.42% of the company’s stock.

Key Headlines Impacting Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron is expected to sign accords with Iraq to advance investments in major oil fields, including West Qurna 2 and Nassiriya, which could expand long-term production opportunities. Reuters article on Iraq oilfield MOUs
• Positive Sentiment: Reports that Chevron is exploring a pipeline alternative to the Strait of Hormuz suggest a potential way to boost Iraqi export capacity and lower shipping disruption risk, which investors may view as strategically important. The Motley Fool article on Hormuz bypass pipeline
• Positive Sentiment: Chevron is being highlighted as a relatively attractive long-term energy stock versus TotalEnergies because of its premium assets, strong balance sheet, and steadier earnings outlook. Yahoo Finance article comparing CVX and TTE
• Neutral Sentiment: Some commentary says Chevron stock looks closer to fairly valued after a strong five-year run, which may limit upside for investors expecting a clear bargain. Yahoo Finance article on valuation
• Neutral Sentiment: Chevron also benefited from broader energy-sector gains, with the sector rising even as the wider market was mixed. Yahoo Finance sector update

Analyst Ratings Changes

A number of analysts have commented on CVX shares. Mizuho upped their price target on shares of Chevron from $225.00 to $230.00 and gave the company an “outperform” rating in a research report on Wednesday, May 27th. Sanford C. Bernstein lowered their price objective on Chevron from $216.00 to $204.00 and set a “market perform” rating for the company in a research report on Monday, May 11th. UBS Group reissued a “buy” rating on shares of Chevron in a research note on Tuesday, June 23rd. TD Cowen upped their target price on Chevron from $204.00 to $205.00 and gave the company a “hold” rating in a research report on Friday, May 8th. Finally, BNP Paribas Exane raised Chevron from a “neutral” rating to an “outperform” rating and set a $174.00 target price for the company in a research note on Friday, April 17th. Nineteen analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $206.83.

Chevron Stock Up 0.0%

Chevron stock opened at $187.39 on Monday. The company has a market capitalization of $373.21 billion, a PE ratio of 32.48, a PEG ratio of 0.66 and a beta of 0.50. Chevron Corporation has a 12-month low of $146.49 and a 12-month high of $214.71. The firm’s fifty day moving average is $181.54 and its 200 day moving average is $182.66. The company has a quick ratio of 0.84, a current ratio of 1.09 and a debt-to-equity ratio of 0.21.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, May 1st. The oil and gas company reported $1.41 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.41. Chevron had a net margin of 5.79% and a return on equity of 6.90%. The business had revenue of $47.56 billion during the quarter, compared to analysts’ expectations of $51.86 billion. During the same period last year, the company posted $2.18 earnings per share. The business’s quarterly revenue was up 2.1% on a year-over-year basis. As a group, sell-side analysts predict that Chevron Corporation will post 14.78 EPS for the current fiscal year.

Chevron Announces Dividend

The business 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 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date of this dividend was Tuesday, May 19th. Chevron’s dividend payout ratio is 123.40%.

Insider Activity

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

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.