Clearbridge Investments LLC Has $367.66 Million Holdings in Chevron Corporation $CVX

Clearbridge Investments LLC cut its holdings in Chevron Corporation (NYSE:CVX) by 3.5% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,412,287 shares of the oil and gas company’s stock after selling 88,361 shares during the quarter. Clearbridge Investments LLC owned approximately 0.12% of Chevron worth $367,657,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. D.B. Root & Company LLC boosted its stake in Chevron by 1.0% in the fourth quarter. D.B. Root & Company LLC now owns 5,552 shares of the oil and gas company’s stock valued at $846,000 after buying an additional 57 shares in the last quarter. Cornerstone Planning Group LLC boosted its stake in shares of Chevron by 6.8% during the fourth quarter. Cornerstone Planning Group LLC now owns 930 shares of the oil and gas company’s stock valued at $142,000 after purchasing an additional 59 shares in the last quarter. MMA Asset Management LLC boosted its stake in shares of Chevron by 3.4% during the fourth quarter. MMA Asset Management LLC now owns 1,820 shares of the oil and gas company’s stock valued at $277,000 after purchasing an additional 59 shares in the last quarter. EWA LLC boosted its stake in shares of Chevron by 2.8% during the fourth quarter. EWA LLC now owns 2,182 shares of the oil and gas company’s stock valued at $333,000 after purchasing an additional 59 shares in the last quarter. Finally, Hantz Financial Services Inc. boosted its stake in shares of Chevron by 0.5% during the fourth quarter. Hantz Financial Services Inc. now owns 12,916 shares of the oil and gas company’s stock valued at $1,969,000 after purchasing an additional 59 shares in the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Morgan Stanley lifted their price target on Chevron from $212.00 to $214.00 and gave the company an “overweight” rating in a research note on Friday, May 22nd. Bank of America lifted their price target on Chevron from $188.00 to $206.00 and gave the company a “buy” rating in a research note on Monday, March 2nd. HSBC raised Chevron from a “hold” rating to a “buy” rating and set a $215.00 price target on the stock in a research note on Friday, March 20th. UBS Group lifted their price target on Chevron from $218.00 to $220.00 and gave the company a “buy” rating in a research note on Monday, May 4th. Finally, Wells Fargo & Company lifted their price target on Chevron from $204.00 to $222.00 and gave the company an “overweight” rating in a research note on Thursday, April 9th. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $205.70.

Chevron News Roundup

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Several recent articles highlight Chevron as a durable, low-beta energy name with resilient assets, strong cash flow, and a dependable dividend, which can attract buyers during volatile markets. 4 Best Low-Beta Stocks to Buy Right Away: LQDA, CVX, OXY & VLO
• Positive Sentiment: Chevron has outperformed its industry and sector over the past month, with commentary pointing to dividend growth and 2030 cash flow targets as reasons investors remain constructive. CVX Stock Outpaces Industry in a Month: Should Investors Stay Bullish?
• Positive Sentiment: Oil-stock forecasts remain supportive as conflict-related supply worries keep crude in focus, which tends to benefit Chevron through improved upstream pricing and sector rotation into energy. CVX, XOM and SHEL Forecasts – Oil Stocks in Focus as Conflict Continues
• Positive Sentiment: Street commentary also suggests Chevron is still a long-term hold, with articles calling it an “ultra-safe” dividend stock and saying its long-term prospects remain rosy. Got $3,000? 1 Ultra-Safe Dow Dividend Stock to Buy and Hold Forever
• Neutral Sentiment: Analyst notes show a mixed valuation picture: some targets were lifted modestly, but others say Chevron looks fully valued if oil prices ease, leaving the stock sensitive to commodity assumptions. How The Chevron (CVX) Story Is Shifting With New Analyst Targets And Oil Market Risks
• Negative Sentiment: One recent downgrade argued Chevron could be pressured if an Iran deal or easing geopolitical risk sends oil prices lower, which would reduce the stock’s near-term upside. Chevron Looks Fully Valued As An Iran Deal Could Send Oil Lower (Rating Downgrade)

Chevron Price Performance

Chevron stock opened at $187.46 on Friday. The stock’s 50 day moving average is $190.66 and its 200 day moving average is $176.82. 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 cap of $373.35 billion, a P/E ratio of 32.49, a P/E/G ratio of 0.62 and a beta of 0.48. Chevron Corporation has a one year low of $138.09 and a one year high of $214.71.

Chevron (NYSE:CVX) last posted its quarterly earnings data 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. 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%.The firm’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period in the previous year, the firm earned $2.18 earnings per share. As a group, research analysts expect that Chevron Corporation will post 15.74 EPS for the current year.

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Tuesday, May 19th will be paid a $1.78 dividend. This represents a $7.12 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date of this dividend is Tuesday, May 19th. Chevron’s payout ratio is currently 123.40%.

Insider Buying and Selling

In related news, insider R. Hewitt Pate sold 40,200 shares of Chevron stock in a transaction that occurred 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 transaction, the insider directly owned 8,638 shares of the company’s stock, valued at $1,842,485.40. The trade was a 82.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John B. Hess sold 380,000 shares of Chevron stock in a transaction that occurred 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 transaction, the director directly owned 278,045 shares in the company, valued at approximately $53,718,294. This represents a 57.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 615,200 shares of company stock worth $118,022,760. 0.56% of the stock is 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.