17,687 Shares in Chevron Corporation $CVX Purchased by Keudell Morrison Wealth Management

Keudell Morrison Wealth Management purchased a new position in shares of Chevron Corporation (NYSE:CVX) during the fourth quarter, HoldingsChannel.com reports. The institutional investor purchased 17,687 shares of the oil and gas company’s stock, valued at approximately $2,696,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. United Bank boosted its holdings in Chevron by 7.7% in the 2nd quarter. United Bank now owns 11,079 shares of the oil and gas company’s stock valued at $1,586,000 after purchasing an additional 796 shares in the last quarter. Schnieders Capital Management LLC. boosted its holdings in 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 valued at $7,280,000 after purchasing an additional 4,214 shares in the last quarter. BNP Paribas boosted its holdings in Chevron by 76.4% in the 2nd quarter. BNP Paribas now owns 441 shares of the oil and gas company’s stock valued at $63,000 after purchasing an additional 191 shares in the last quarter. Osterweis Capital Management Inc. boosted its holdings 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 purchasing an additional 1,188 shares in the last quarter. Finally, Main Street Financial Solutions LLC boosted its holdings 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 purchasing an additional 553 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Price Performance

Shares of NYSE:CVX opened at $191.23 on Friday. The business’s 50 day simple moving average is $193.55 and its 200-day simple moving average is $174.48. The firm has a market capitalization of $380.84 billion, a price-to-earnings ratio of 33.14, a price-to-earnings-growth ratio of 0.64 and a beta of 0.51. 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 $133.77 and a 12 month high of $214.71.

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

Chevron Announces Dividend

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

Insider Activity

In related news, Director John B. Hess sold 195,000 shares of Chevron stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $184.78, for a total transaction of $36,032,100.00. Following the completion of the transaction, the director directly owned 658,045 shares in the company, valued at $121,593,555.10. The trade was a 22.86% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Michael K. Wirth sold 272,624 shares of Chevron stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $189.35, for a total value of $51,621,354.40. Following the transaction, the chief executive officer owned 31,266 shares of the company’s stock, valued at $5,920,217.10. This represents a 89.71% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 799,699 shares of company stock worth $151,259,517. 0.56% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Argus set a $203.00 price objective on Chevron in a report on Tuesday, February 3rd. Scotiabank lifted their price objective on Chevron from $168.00 to $187.00 and gave the company a “sector perform” rating in a report on Wednesday, April 22nd. Morgan Stanley lifted their price objective on Chevron from $174.00 to $212.00 and gave the company an “overweight” rating in a report on Friday, March 27th. Sanford C. Bernstein lowered their price objective on Chevron from $216.00 to $204.00 and set a “market perform” rating on the stock in a report on Monday, May 11th. Finally, BNP Paribas Exane raised Chevron from a “neutral” rating to an “outperform” rating and set a $174.00 price objective on the stock in a report on Friday, April 17th. One analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $204.13.

Key Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron could receive a meaningful cash infusion from the planned sale of several Asia Pacific refining and retail assets to Japan’s Eneos, with reports saying the deal may bring in about $2.17 billion as the company streamlines its global portfolio. Chevron Corporation (CVX) Poised for $2.17B Boost from Asia Pacific Asset Sale
• Positive Sentiment: Chevron also announced that CEO Mike Wirth will speak at Bernstein’s Strategic Decisions Conference on May 28, which keeps management in front of investors and may provide additional color on strategy, capital returns, and the asset-sale outlook. Advisory: Chevron to Participate in Fireside Q&A at Bernstein 42nd Annual Strategic Decisions Conference
• Neutral Sentiment: Chevron introduced next-generation Techron gasoline additive in the U.S., a product update that supports the brand and fuel quality narrative but is unlikely to move the stock materially on its own. Chevron Introduces Next-gen Techron in U.S. Chevron and Texaco Gasolines
• Negative Sentiment: California Governor Gavin Newsom publicly urged residents to “avoid Chevron,” accusing big oil companies of profiting from higher fuel prices tied to the Iran conflict, adding reputational and political pressure on the company. Gavin Newsom Warns Californians To ‘Avoid Chevron,’ Says Big Oil Is ‘Making Billions Off Trump’s Iran War’
• Negative Sentiment: Chevron is also facing ESG-related scrutiny ahead of its May 27 annual meeting, where activists are pushing shareholders to reject a proposal tied to Israel operations, raising the chance of more governance headlines. Chevron Israel Activism Puts ESG Risks And Valuation In Focus

Chevron 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.