Csenge Advisory Group Acquires 3,590 Shares of Chevron Corporation $CVX

Csenge Advisory Group raised its holdings in shares of Chevron Corporation (NYSE:CVX) by 9.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 41,032 shares of the oil and gas company’s stock after buying an additional 3,590 shares during the period. Csenge Advisory Group’s holdings in Chevron were worth $6,254,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Strategic Wealth Advisors LLC purchased a new position in Chevron in the 4th quarter worth approximately $33,000. Daytona Street Capital LLC purchased a new stake in shares of Chevron during the fourth quarter valued at approximately $44,000. Turning Point Benefit Group Inc. bought a new position in shares of Chevron in the third quarter worth approximately $49,000. Maseco LLP bought a new position in shares of Chevron in the fourth quarter worth approximately $49,000. Finally, High Point Wealth Management LLC purchased a new position in shares of Chevron in the fourth quarter worth $53,000. 72.42% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Chevron news, CEO Michael K. Wirth sold 272,624 shares of the business’s stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $189.35, for a total transaction of $51,621,354.40. Following the completion of the sale, the chief executive officer directly owned 31,266 shares in the company, valued at $5,920,217.10. The trade was a 89.71% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Vice Chairman Mark A. Nelson sold 139,600 shares of the company’s stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $187.92, for a total transaction of $26,233,632.00. Following the sale, the insider directly owned 11,337 shares of the company’s stock, valued at approximately $2,130,449.04. This represents a 92.49% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 803,570 shares of company stock worth $151,969,798 in the last 90 days. Insiders own 0.56% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Wells Fargo & Company upped their price objective on shares of Chevron from $204.00 to $222.00 and gave the company an “overweight” rating in a research note on Thursday, April 9th. Sanford C. Bernstein reduced their price target on Chevron from $216.00 to $204.00 and set a “market perform” rating on the stock in a report on Monday, May 11th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Chevron in a research report on Wednesday, January 21st. JPMorgan Chase & Co. upgraded Chevron from a “neutral” rating to an “overweight” rating and set a $176.00 price objective for the company in a report on Tuesday, January 20th. Finally, Scotiabank lifted their price objective on Chevron from $168.00 to $187.00 and gave the stock a “sector perform” rating in a research report on Wednesday, April 22nd. One investment 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 given a Sell rating to the stock. According to data from MarketBeat.com, Chevron has an average rating of “Moderate Buy” and a consensus price target of $204.13.

Key Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron agreed to sell some Asia-Pacific downstream assets and its SRC stake to Japan’s ENEOS for about $2.2 billion, a move that should help streamline the portfolio and unlock cash for higher-return uses. Article Title
• Positive Sentiment: Chevron’s CEO warning about possible physical oil shortages added to the bullish backdrop for energy prices, which can support upstream earnings and cash flow. Article Title
• Positive Sentiment: Unusually heavy call-option buying suggests traders are positioning for more upside in Chevron shares, often a sign of growing short-term optimism.
• Positive Sentiment: Recent commentary also highlighted Chevron as a trending and potentially attractive dividend stock, reinforcing the view that investors see it as a defensive income name with upside potential. Article Title
• Neutral Sentiment: Brokerage optimism and “buy” discussions from analysts may be supporting interest in the stock, but the article itself did not point to a new rating change or specific catalyst. Article Title

Chevron Stock Performance

Shares of CVX opened at $196.08 on Tuesday. The company has a quick ratio of 0.84, a current ratio of 1.09 and a debt-to-equity ratio of 0.21. The stock has a market cap of $390.52 billion, a P/E ratio of 33.98, a P/E/G ratio of 0.64 and a beta of 0.51. The business’s 50 day moving average price is $193.26 and its 200-day moving average price is $173.68. Chevron Corporation has a 52 week low of $133.77 and a 52 week high of $214.71.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, May 1st. The oil and gas company reported $1.41 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.41. The firm had revenue of $47.56 billion during the quarter, compared to the consensus estimate of $51.86 billion. Chevron had a return on equity of 6.90% and a net margin of 5.79%.The company’s revenue was up 2.1% on a year-over-year basis. During the same period last year, the company earned $2.18 earnings per share. Equities research analysts anticipate that Chevron Corporation will post 15.43 earnings per share for the current fiscal year.

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Tuesday, May 19th will be issued a dividend of $1.78 per share. This represents a $7.12 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date of this dividend is Tuesday, May 19th. Chevron’s dividend payout ratio (DPR) is presently 123.40%.

Chevron 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.