Chevron Corporation $CVX Shares Sold by Munich Reinsurance Co Stock Corp in Munich

Munich Reinsurance Co Stock Corp in Munich trimmed its position in Chevron Corporation (NYSE:CVX) by 2.7% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 427,352 shares of the oil and gas company’s stock after selling 11,710 shares during the period. Chevron makes up about 2.2% of Munich Reinsurance Co Stock Corp in Munich’s holdings, making the stock its 9th biggest position. Munich Reinsurance Co Stock Corp in Munich’s holdings in Chevron were worth $88,419,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Midwest Capital Advisors LLC purchased a new stake in shares of Chevron in the first quarter valued at about $25,000. Core Wealth Advisors LLC purchased a new position in Chevron during the fourth quarter worth about $26,000. Phillip James Consulting Co. acquired a new stake in Chevron in the fourth quarter valued at about $26,000. Basso Capital Management L.P. acquired a new position in Chevron during the 4th quarter worth approximately $27,000. Finally, Karpus Management Inc. acquired a new position in Chevron during the 4th quarter worth approximately $27,000. 72.42% of the stock is owned by institutional investors and hedge funds.

Chevron Price Performance

Shares of NYSE:CVX opened at $175.89 on Thursday. The business’s 50 day simple moving average is $182.51 and its 200-day simple moving average is $181.14. The firm has a market capitalization of $350.31 billion, a price-to-earnings ratio of 30.48, a price-to-earnings-growth ratio of 0.59 and a beta of 0.50. 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 Corporation has a 12 month low of $146.49 and a 12 month high of $214.71.

Chevron (NYSE:CVX) last released its quarterly earnings data 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. Chevron had a return on equity of 6.90% and a net margin of 5.79%.The firm had revenue of $47.56 billion during the quarter, compared to the consensus estimate of $51.86 billion. During the same period last year, the business posted $2.18 EPS. Chevron’s quarterly revenue was up 2.1% on a year-over-year basis. As a group, equities analysts forecast that Chevron Corporation will post 15.28 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The company also recently announced 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 of this dividend was Tuesday, May 19th. This represents a $7.12 annualized dividend and a yield of 4.0%. Chevron’s dividend payout ratio is 123.40%.

Chevron News Roundup

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron stock is benefiting from a jump in oil prices, which boosts expected upstream earnings and improves sentiment across the energy sector. Why Is Chevron Stock Gaining Wednesday?
• Positive Sentiment: Rising geopolitical tensions and the unraveling of the U.S.–Iran ceasefire have pushed crude and risk premiums higher, giving integrated oil names like Chevron a lift. Ceasefire Cracks, Oil Bounces: Why Exxon, Chevron Stocks Are Hot Again
• Positive Sentiment: Chevron announced it will offer rival drillers access to its chemical technology to help boost shale output, reinforcing its role in U.S. energy production and potentially creating a new commercialization opportunity. Chevron offers rival drillers its chemical technology to boost shale oil output
• Positive Sentiment: Chevron remains in focus for investors seeking dependable income, with articles highlighting its attractive dividend yield and its status as a preferred blue-chip energy holding. Chevron (CVX) – Among the 14 Best Blue Chip Dividend Stocks to Buy According to Hedge Funds
• Neutral Sentiment: Market commentary also notes Chevron’s stock has held up despite recent index removal and continuing debate over valuation, Guyana growth, and cash-flow durability. Chevron (CVX) Following Index Removal And Guyana Upgrades, Is The Valuation Case Intact?
• Neutral Sentiment: Coverage around Chevron’s AI-related energy demand exposure and a new technology licensing agreement with ZL Chemicals adds longer-term strategic interest, but these headlines are less likely to drive near-term trading than oil prices. Chevron (NYSE:CVX) Powers AI Demand Across Energy Markets Chevron, ZL Chemicals sign technology licensing agreement
• Negative Sentiment: Chevron also faced a negative operational headline after one of its tankers used for CPC shipments was reportedly hit by a drone in the Black Sea, which could raise transportation and geopolitical risk concerns. Chevron tanker used for CPC oil hit by drone in Black Sea

Insider Buying and Selling at Chevron

In other news, Director John B. Hess sold 380,000 shares of the firm’s stock in a transaction on Wednesday, May 20th. The stock was 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 owned 278,045 shares in the company, valued at $53,718,294. This trade represents a 57.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.56% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have recently commented on CVX. Wells Fargo & Company raised their price target on Chevron from $204.00 to $222.00 and gave the company an “overweight” rating in a report on Thursday, April 9th. Weiss Ratings cut Chevron from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, June 2nd. UBS Group reissued a “buy” rating on shares of Chevron in a report on Tuesday, June 23rd. Piper Sandler boosted their target price on shares of Chevron from $179.00 to $242.00 and gave the stock an “overweight” rating in a research report on Thursday, March 12th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $216.00 price target on shares of Chevron in a research note on Wednesday, May 6th. 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 MarketBeat, Chevron presently has an average rating of “Moderate Buy” and a consensus target price of $205.71.

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.