Forum Financial Management LP Has $2.99 Million Stake in Chevron Corporation $CVX

Forum Financial Management LP reduced its position in Chevron Corporation (NYSE:CVX) by 58.0% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,451 shares of the oil and gas company’s stock after selling 19,930 shares during the period. Forum Financial Management LP’s holdings in Chevron were worth $2,990,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of CVX. United Bank grew its holdings in shares of Chevron by 7.7% during the second quarter. United Bank now owns 11,079 shares of the oil and gas company’s stock valued at $1,586,000 after buying an additional 796 shares during the last quarter. Schnieders Capital Management LLC. raised its holdings in shares of Chevron by 9.0% in the 2nd quarter. Schnieders Capital Management LLC. now owns 50,839 shares of the oil and gas company’s stock worth $7,280,000 after acquiring an additional 4,214 shares during the last quarter. BNP Paribas raised its holdings in shares of Chevron by 76.4% in the 2nd quarter. BNP Paribas now owns 441 shares of the oil and gas company’s stock worth $63,000 after acquiring an additional 191 shares during the last quarter. Osterweis Capital Management Inc. lifted its position in Chevron by 678.9% in the 2nd quarter. Osterweis Capital Management Inc. now owns 1,363 shares of the oil and gas company’s stock valued at $195,000 after acquiring an additional 1,188 shares in the last quarter. Finally, Main Street Financial Solutions LLC lifted its position in Chevron by 3.6% in the 2nd quarter. Main Street Financial Solutions LLC now owns 16,052 shares of the oil and gas company’s stock valued at $2,299,000 after acquiring an additional 553 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on CVX. Wells Fargo & Company increased their price objective on Chevron from $204.00 to $222.00 and gave the stock an “overweight” rating in a research note on Thursday, April 9th. Scotiabank lifted their target price on Chevron from $168.00 to $187.00 and gave the company a “sector perform” rating in a research report on Wednesday, April 22nd. Tudor Pickering upgraded Chevron from a “hold” rating to a “buy” rating and set a $225.00 price target for the company in a report on Thursday, April 9th. Weiss Ratings lowered Chevron from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, June 2nd. Finally, BNP Paribas Exane upgraded Chevron from a “neutral” rating to an “outperform” rating and set a $174.00 price objective on the stock in a research note on Friday, April 17th. Eighteen 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. According to data from MarketBeat, Chevron has an average rating of “Moderate Buy” and a consensus price target of $205.52.

Chevron Stock Performance

CVX stock opened at $165.69 on Wednesday. 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 firm has a market cap of $329.99 billion, a PE ratio of 28.72, a P/E/G ratio of 0.57 and a beta of 0.48. The business has a 50 day moving average of $184.34 and a 200-day moving average of $180.24. Chevron Corporation has a 12-month low of $142.51 and a 12-month 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 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.41. Chevron had a return on equity of 6.90% and a net margin of 5.79%.The business had revenue of $47.56 billion for the quarter, compared to analyst estimates of $51.86 billion. During the same period last year, the company posted $2.18 earnings per share. Chevron’s quarterly revenue was up 2.1% compared to the same quarter last year. As a group, sell-side analysts expect that Chevron Corporation will post 15.41 earnings per share for the current year.

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Tuesday, May 19th were given 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 4.3%. Chevron’s dividend payout ratio (DPR) is currently 123.40%.

Insider Activity at Chevron

In other news, Director John B. Hess sold 380,000 shares of Chevron stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $193.20, for a total transaction of $73,416,000.00. Following the sale, the director directly owned 278,045 shares in the company, valued at $53,718,294. The trade was a 57.75% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.56% of the stock is owned by insiders.

Chevron News Roundup

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron was highlighted as a reliable income stock with a 4.2% dividend yield, reinforcing its appeal to income-focused investors. This Energy Stock Pays a 4.2% Dividend That You Can Bank On
• Positive Sentiment: Chevron was included among integrated energy stocks expected to benefit from solid oil prices, a stable business mix, and strong midstream operations. 3 Integrated Energy Stocks to Gain From Promising Industry Trend
• Positive Sentiment: Chevron is expanding into data center power projects tied to AI electricity demand, including work beyond Project Kilby, which could create a new growth avenue for its natural gas business. Chevron Expands Data Center Power Strategy Beyond Project Kilby
• Positive Sentiment: Chevron also received attention for securing Texas Pacific Land support for Microsoft’s Project Kilby, signaling progress on a large strategic energy-infrastructure partnership. Chevron Corporation (CVX) Secures Texas Pacific Land Support on Microsoft’s Project Kilby
• Neutral Sentiment: Several recent commentaries focused on Chevron’s positioning in offshore energy and broader oil-and-gas trends, but these pieces were mostly informational rather than directly moving the stock. Chevron (NYSE:CVX) Pushes Deeper Into Offshore Energy
• Negative Sentiment: Chevron shares came under pressure as energy markets weakened, with lower crude prices and Morgan Stanley’s oil-demand warning weighing on sentiment across the sector. BP, Shell, Chevron shares on edge as Morgan Stanley slashes oil forecast
• Negative Sentiment: A separate analysis suggested Occidental Petroleum may offer more upside than Chevron based on valuation and earnings-growth metrics, which could temper investor enthusiasm for CVX. Occidental Petroleum or Chevron: Which Oil Stock Offers More Upside?

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.