Ritholtz Wealth Management Has $7.67 Million Stock Holdings in Chevron Corporation $CVX

Ritholtz Wealth Management lifted its holdings in shares of Chevron Corporation (NYSE:CVX) by 8.6% in the first quarter, Holdings Channel.com reports. The fund owned 37,091 shares of the oil and gas company’s stock after purchasing an additional 2,944 shares during the quarter. Ritholtz Wealth Management’s holdings in Chevron were worth $7,674,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the business. Norges Bank acquired a new position in Chevron in the fourth quarter worth about $3,727,586,000. State Street Corp boosted its holdings in Chevron by 9.1% during the third quarter. State Street Corp now owns 152,605,988 shares of the oil and gas company’s stock valued at $23,698,184,000 after purchasing an additional 12,789,399 shares in the last quarter. Berkshire Hathaway Inc grew its stake in shares of Chevron by 6.6% in the 4th 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 purchasing an additional 8,091,570 shares during the period. Primecap Management Co. CA bought a new stake in shares of Chevron in the 3rd quarter valued at approximately $988,083,000. Finally, Northwestern Mutual Wealth Management Co. raised its holdings in shares of Chevron by 822.0% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 6,211,258 shares of the oil and gas company’s stock worth $946,658,000 after buying an additional 5,537,580 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Trending Headlines about Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron’s 20-year deal to supply natural gas for Microsoft’s West Texas AI data center strengthens the company’s role in the AI power buildout and could provide a durable new demand source for Permian gas. Chevron, Microsoft deal fuels West Texas data center expansion
• Positive Sentiment: Market coverage highlights Chevron’s Microsoft partnership as a potential growth platform, with investors increasingly treating natural gas power for AI data centers as a new opportunity for the company. Microsoft Solves AI’s Biggest Bottleneck With Chevron Deal (CVX)
• Neutral Sentiment: Chevron said operations in Venezuela continue after the earthquake, suggesting no immediate disruption there, but the update does not appear to be a major stock-moving development. Update: Market Chatter: Chevron Says Operations in Venezuela Continue After Earthquake
• Negative Sentiment: Trump’s announcement that Exxon Mobil and Chevron are being probed over gasoline pricing has created regulatory overhang and weighed on Big Oil sentiment. Trump says Exxon, Chevron among firms probed as part of surge in gas prices
• Negative Sentiment: Chevron’s CFO acknowledged gasoline prices should ease but warned the pass-through from lower crude prices will take time, reinforcing near-term pressure from public and political scrutiny. Chevron CFO says gas prices will normalize after Trump presses Big Oil

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on CVX shares. BNP Paribas Exane upgraded Chevron from a “neutral” rating to an “outperform” rating and set a $174.00 target price for the company in a research report on Friday, April 17th. TD Cowen increased their price objective on Chevron from $204.00 to $205.00 and gave the stock a “hold” rating in a research note on Friday, May 8th. UBS Group reissued a “buy” rating on shares of Chevron in a report on Tuesday. Barclays boosted their target price on shares of Chevron from $192.00 to $213.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 26th. Finally, Scotiabank increased their target price on shares of Chevron from $168.00 to $187.00 and gave the stock a “sector perform” rating in a research report on Wednesday, April 22nd. Eighteen equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $205.70.

Insider Activity

In related news, Director John B. Hess sold 380,000 shares of the firm’s stock in a transaction that occurred on 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 sale, the director owned 278,045 shares of the company’s stock, valued at $53,718,294. This trade represents a 57.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider R. Hewitt Pate sold 40,200 shares of the business’s stock in a transaction that occurred on Monday, March 30th. The stock was sold at an average price of $213.30, for a total transaction of $8,574,660.00. Following the completion of the transaction, the insider owned 8,638 shares of the company’s stock, valued at $1,842,485.40. This trade represents a 82.31% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 615,200 shares of company stock valued at $118,022,760 in the last 90 days. Corporate insiders own 0.56% of the company’s stock.

Chevron Stock Up 0.4%

NYSE CVX opened at $172.19 on Friday. The stock’s 50 day simple moving average is $185.38 and its 200 day simple moving average is $179.84. Chevron Corporation has a one year low of $142.40 and a one year high of $214.71. The firm has a market cap of $342.93 billion, a PE ratio of 29.84, a price-to-earnings-growth ratio of 0.56 and a beta of 0.48. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.09 and a quick ratio of 0.84.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, May 1st. The oil and gas company reported $1.41 earnings per share (EPS) 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 business’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.18 EPS. As a group, sell-side analysts forecast that Chevron Corporation will post 15.88 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Tuesday, May 19th were given a $1.78 dividend. This represents a $7.12 annualized dividend and a yield of 4.1%. The ex-dividend date was Tuesday, May 19th. Chevron’s dividend payout ratio (DPR) is presently 123.40%.

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.