Skba Capital Management LLC Has $16.80 Million Stake in Chevron Corporation $CVX

Skba Capital Management LLC lifted its stake in shares of Chevron Corporation (NYSE:CVX) by 18.3% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 108,155 shares of the oil and gas company’s stock after purchasing an additional 16,730 shares during the quarter. Chevron accounts for 2.3% of Skba Capital Management LLC’s holdings, making the stock its 12th biggest holding. Skba Capital Management LLC’s holdings in Chevron were worth $16,795,000 as of its most recent filing with the SEC.

A number of other hedge funds have also added to or reduced their stakes in CVX. Perigon Wealth Management LLC increased its position in Chevron by 19.3% in the 3rd quarter. Perigon Wealth Management LLC now owns 73,448 shares of the oil and gas company’s stock valued at $11,406,000 after acquiring an additional 11,875 shares during the period. New York State Teachers Retirement System raised its holdings in Chevron by 15.3% during the 3rd quarter. New York State Teachers Retirement System now owns 1,620,231 shares of the oil and gas company’s stock worth $251,606,000 after purchasing an additional 215,345 shares during the last quarter. Pictet North America Advisors SA bought a new position in Chevron during the 3rd quarter worth approximately $5,662,000. Finemark National Bank & Trust lifted its position in shares of Chevron by 40.3% in the 3rd quarter. Finemark National Bank & Trust now owns 56,535 shares of the oil and gas company’s stock worth $8,779,000 after purchasing an additional 16,243 shares during the period. Finally, New York State Common Retirement Fund boosted its stake in shares of Chevron by 10.2% in the 3rd quarter. New York State Common Retirement Fund now owns 1,894,470 shares of the oil and gas company’s stock valued at $294,192,000 after purchasing an additional 175,439 shares during the last quarter. 72.42% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on CVX shares. Piper Sandler lowered their target price on shares of Chevron from $178.00 to $174.00 and set an “overweight” rating for the company in a research note on Thursday, January 8th. Freedom Capital downgraded Chevron from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 6th. BMO Capital Markets reissued an “outperform” rating and issued a $190.00 price objective on shares of Chevron in a research report on Monday, February 2nd. Barclays upped their target price on Chevron from $158.00 to $166.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 21st. Finally, Wall Street Zen upgraded Chevron from a “sell” rating to a “hold” rating in a report on Saturday, January 31st. Thirteen analysts have rated the stock with a Buy rating, seven have given a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat, Chevron currently has an average rating of “Hold” and an average target price of $178.95.

Chevron Stock Performance

Shares of CVX opened at $188.56 on Wednesday. Chevron Corporation has a one year low of $132.04 and a one year high of $191.56. The company has a market cap of $376.25 billion, a PE ratio of 28.31, a P/E/G ratio of 12.55 and a beta of 0.67. The stock has a 50-day moving average of $171.08 and a 200-day moving average of $160.10. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.15 and a quick ratio of 0.86.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, January 30th. The oil and gas company reported $1.52 earnings per share for the quarter, topping analysts’ consensus estimates of $1.44 by $0.08. Chevron had a return on equity of 7.89% and a net margin of 6.51%.The business had revenue of $45.79 billion for the quarter, compared to the consensus estimate of $48.18 billion. During the same period in the prior year, the business earned $2.06 EPS. The firm’s revenue for the quarter was down 10.2% on a year-over-year basis. On average, equities research analysts predict that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 10th. Shareholders of record on Tuesday, February 17th will be paid a dividend of $1.78 per share. This is a boost from Chevron’s previous quarterly dividend of $1.71. The ex-dividend date is Tuesday, February 17th. This represents a $7.12 dividend on an annualized basis and a yield of 3.8%. Chevron’s dividend payout ratio (DPR) is presently 106.91%.

Insider Activity

In related news, CFO Eimear P. Bonner sold 32,100 shares of the company’s stock in a transaction dated Friday, January 30th. The shares were sold at an average price of $175.01, for a total value of $5,617,821.00. Following the sale, the chief financial officer owned 4,366 shares in the company, valued at $764,093.66. This represents a 88.03% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider R. Hewitt Pate sold 58,000 shares of Chevron stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $188.65, for a total value of $10,941,700.00. Following the transaction, the insider owned 8,558 shares of the company’s stock, valued at $1,614,466.70. This trade represents a 87.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 628,373 shares of company stock valued at $107,085,890. 0.20% of the stock is currently owned by insiders.

Key Stories Impacting Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Global oil/gas rally is boosting integrated energy stocks; higher commodity prices improve Chevron’s near-term margins and cash flow outlook. Read More.
• Positive Sentiment: Broker upgrades and higher price targets (Citigroup, Bank of America, Melius and others) signal renewed analyst conviction and support upside expectations. Read More.
• Positive Sentiment: Notable portfolio moves (including increased exposure in Berkshire’s final quarter) and positive coverage identifying CVX as a top oil pick are drawing investor interest. Read More.
• Neutral Sentiment: Analyst coverage is mixed overall: several buys and target lifts exist, but consensus includes many holds, which can limit sustained momentum. Read More.
• Negative Sentiment: Chevron declared force majeure and halted production at the Leviathan gas field amid regional hostilities — a direct operational disruption that can dent near-term volumes and revenue. Read More.
• Negative Sentiment: Substantial insider selling by R. Hewitt Pate (large blocks sold late Feb. and early Mar.; SEC filings) may amplify profit-taking and be viewed negatively by some investors. Read More.
• Negative Sentiment: Ongoing geopolitical risk (Iran threats, Strait of Hormuz disruptions) increases volatility and operational uncertainty even as higher oil tends to boost earnings for majors. Read More.

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.