Thrivent Financial for Lutherans Trims Stake in Chevron Corporation $CVX

Thrivent Financial for Lutherans trimmed its stake in Chevron Corporation (NYSE:CVX) by 26.3% in the 4th quarter, HoldingsChannel reports. The firm owned 125,471 shares of the oil and gas company’s stock after selling 44,862 shares during the period. Thrivent Financial for Lutherans’ holdings in Chevron were worth $19,120,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of CVX. Strategic Wealth Advisors LLC bought a new position in Chevron in the 4th quarter worth $33,000. Daytona Street Capital LLC bought a new position in Chevron in the 4th quarter worth $44,000. Maseco LLP bought a new position in Chevron in the 4th quarter worth $49,000. Turning Point Benefit Group Inc. bought a new position in Chevron in the 3rd quarter worth $49,000. Finally, High Point Wealth Management LLC bought a new position in Chevron in the 4th quarter worth $53,000. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Chevron Stock Down 0.1%

CVX opened at $190.91 on Monday. The firm has a 50-day simple moving average of $193.14 and a two-hundred day simple moving average of $173.38. Chevron Corporation has a 52 week low of $133.77 and a 52 week high of $214.71. The company has a market capitalization of $380.22 billion, a PE ratio of 33.09, a price-to-earnings-growth ratio of 0.64 and a beta of 0.51. The company has a quick ratio of 0.84, a current ratio of 1.09 and a debt-to-equity ratio of 0.21.

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

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Shareholders of record on Tuesday, May 19th will be issued a dividend of $1.78 per share. This represents a $7.12 annualized dividend and a dividend yield of 3.7%. The ex-dividend date of this dividend is Tuesday, May 19th. Chevron’s dividend payout ratio is 123.40%.

Insider Buying and Selling at Chevron

In related news, Vice Chairman Mark A. Nelson sold 139,600 shares of the stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $187.92, for a total value of $26,233,632.00. Following the completion of the transaction, the insider owned 11,337 shares of the company’s stock, valued at approximately $2,130,449.04. This trade represents a 92.49% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Andrew Benjamin Walz sold 11,600 shares of the stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $188.58, for a total transaction of $2,187,528.00. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 803,570 shares of company stock worth $151,969,798. Insiders own 0.56% of the company’s stock.

Chevron News Roundup

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron agreed to sell its Singapore refining stake and other Asia-Pacific downstream assets to ENEOS for roughly $2.17 billion, reinforcing its strategy to streamline the portfolio and potentially improve returns. Reuters article on ENEOS buying Chevron assets
• Positive Sentiment: Another report framed Chevron’s recent earnings as less weak than the headline numbers suggested, noting that the company’s share price did not fall sharply after the results, which may indicate investors are focusing on underlying cash generation and strategic actions rather than the revenue miss. Yahoo Finance article on Chevron earnings
• Neutral Sentiment: Market commentary this week also compared Chevron with TotalEnergies and discussed broader oil-sector themes, but those pieces were more about sector positioning than a direct new fundamental change for Chevron. Motley Fool comparison article
• Negative Sentiment: Chevron’s latest quarter was mixed, with earnings per share beating estimates but revenue coming in below expectations, which could temper enthusiasm if investors refocus on operating performance rather than asset sales. Chevron stock background

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Wells Fargo & Company upped their target price on shares of Chevron from $204.00 to $222.00 and gave the stock an “overweight” rating in a report on Thursday, April 9th. Argus set a $203.00 target price on shares of Chevron in a report on Tuesday, February 3rd. Wall Street Zen raised shares of Chevron from a “sell” rating to a “hold” rating in a report on Saturday, January 31st. TD Cowen upped their target price on shares of Chevron from $204.00 to $205.00 and gave the stock a “hold” rating in a report on Friday, May 8th. Finally, Sanford C. Bernstein dropped their target price on shares of Chevron from $216.00 to $204.00 and set a “market perform” rating for the company in a report on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $204.13.

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.