Mediolanum International Funds Ltd Buys 11,268 Shares of Chevron Corporation $CVX

Mediolanum International Funds Ltd boosted its stake in shares of Chevron Corporation (NYSE:CVX) by 11.5% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 109,018 shares of the oil and gas company’s stock after purchasing an additional 11,268 shares during the period. Mediolanum International Funds Ltd’s holdings in Chevron were worth $22,971,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the stock. Midwest Capital Advisors LLC acquired a new stake in shares of Chevron in the 1st quarter valued at approximately $25,000. Main Street Group LTD acquired a new position in Chevron during the first quarter worth $28,000. Phillip James Consulting Co. acquired a new position in Chevron during the fourth quarter worth $26,000. Core Wealth Advisors LLC bought a new stake in Chevron during the fourth quarter worth $26,000. Finally, Karpus Management Inc. bought a new stake in Chevron during the fourth quarter worth $27,000. 72.42% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related 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 transaction, the director owned 278,045 shares in the company, valued at approximately $53,718,294. This represents a 57.75% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.56% of the company’s stock.

Key Stories 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

Chevron Trading Up 1.9%

Shares of Chevron stock opened at $187.39 on Friday. 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 business has a fifty day simple moving average of $181.54 and a two-hundred day simple moving average of $182.44. Chevron Corporation has a 1 year low of $146.49 and a 1 year high of $214.71. The company has a market capitalization of $373.21 billion, a price-to-earnings ratio of 32.48, a P/E/G ratio of 0.66 and a beta of 0.50.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, May 1st. The oil and gas company reported $1.41 EPS for the quarter, beating the consensus estimate 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 company’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period in the previous year, the company earned $2.18 earnings per share. Research analysts forecast that Chevron Corporation will post 14.78 EPS for the current year.

Chevron Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Tuesday, May 19th were issued a dividend of $1.78 per share. The ex-dividend date of this dividend was Tuesday, May 19th. This represents a $7.12 annualized dividend and a dividend yield of 3.8%. Chevron’s payout ratio is presently 123.40%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on CVX shares. Morgan Stanley decreased their price objective on shares of Chevron from $214.00 to $210.00 and set an “overweight” rating for the company in a research report on Monday, June 29th. Wells Fargo & Company upped their target price on shares of Chevron from $204.00 to $222.00 and gave the company an “overweight” rating in a report on Thursday, April 9th. Scotiabank raised their target price on shares of Chevron from $168.00 to $187.00 and gave the company a “sector perform” rating in a research note on Wednesday, April 22nd. Wolfe Research upgraded shares of Chevron from a “peer perform” rating to an “outperform” rating and set a $210.00 target price for the company in a research note on Thursday, July 2nd. Finally, Zacks Research cut Chevron from a “strong-buy” rating to a “hold” rating in a report on Monday, June 8th. Nineteen research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $206.83.

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.