Chevron Corporation $CVX Shares Purchased by McAlvany Wealth Management LLC

McAlvany Wealth Management LLC raised its position in shares of Chevron Corporation (NYSE:CVX) by 58.6% in the first quarter, Holdings Channel.com reports. The fund owned 17,990 shares of the oil and gas company’s stock after buying an additional 6,648 shares during the quarter. Chevron comprises approximately 2.4% of McAlvany Wealth Management LLC’s holdings, making the stock its 14th largest position. McAlvany Wealth Management LLC’s holdings in Chevron were worth $3,791,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CVX. Norges Bank acquired a new position in shares of Chevron in the 4th quarter valued at about $3,727,586,000. State Street Corp increased its position in Chevron by 9.1% during the 3rd quarter. State Street Corp now owns 152,605,988 shares of the oil and gas company’s stock worth $23,698,184,000 after purchasing an additional 12,789,399 shares in the last quarter. Berkshire Hathaway Inc raised its holdings in Chevron by 6.6% in the fourth quarter. Berkshire Hathaway Inc now owns 130,156,362 shares of the oil and gas company’s stock valued at $19,837,131,000 after buying an additional 8,091,570 shares during the period. Northwestern Mutual Wealth Management Co. lifted its position in Chevron by 822.0% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 6,211,258 shares of the oil and gas company’s stock valued at $946,658,000 after buying an additional 5,537,580 shares in the last quarter. Finally, Amundi lifted its position in Chevron by 41.8% during the third quarter. Amundi now owns 11,760,376 shares of the oil and gas company’s stock valued at $1,811,333,000 after buying an additional 3,464,058 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Chevron Stock Up 1.9%

Shares of NYSE:CVX opened at $187.39 on Friday. The company has a market capitalization of $373.21 billion, a price-to-earnings ratio of 32.48, a price-to-earnings-growth ratio of 0.64 and a beta of 0.50. The company has a 50 day moving average of $181.54 and a two-hundred day moving average of $182.44. Chevron Corporation has a 52-week low of $146.49 and a 52-week high of $214.71. 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 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. The business had revenue of $47.56 billion for the quarter, compared to analysts’ expectations of $51.86 billion. Chevron had a net margin of 5.79% and a return on equity of 6.90%. The business’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period in the previous year, the company posted $2.18 earnings per share. As a group, analysts forecast that Chevron Corporation will post 14.83 earnings per share for the current fiscal year.

Chevron Announces Dividend

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 3.8%. Chevron’s payout ratio is currently 123.40%.

Insider Buying and Selling

In other Chevron news, Director John B. Hess sold 380,000 shares of the company’s stock in a transaction dated Wednesday, May 20th. The shares were 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 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 filing with the SEC, which is available at the SEC website. 0.56% of the stock is owned by corporate insiders.

Trending Headlines about 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 Upgrades and Downgrades

CVX has been the subject of several research reports. Wolfe Research upgraded shares of Chevron from a “peer perform” rating to an “outperform” rating and set a $210.00 price objective for the company in a research note on Thursday, July 2nd. Scotiabank lifted their target price on shares of Chevron from $168.00 to $187.00 and gave the company a “sector perform” rating in a report on Wednesday, April 22nd. Citigroup upped their price target on shares of Chevron from $210.00 to $235.00 and gave the stock a “buy” rating in a research report on Thursday, April 2nd. HSBC upgraded Chevron from a “hold” rating to a “buy” rating and set a $215.00 price target for the company in a report on Friday, March 20th. Finally, The Goldman Sachs Group reissued a “buy” rating and issued a $216.00 price objective on shares of Chevron in a research report on Wednesday, May 6th. Nineteen equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Chevron currently has an average rating of “Moderate Buy” and a consensus price target of $206.83.

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.