Orange Investment Advisors Inc. Decreases Stake in Chevron Corporation $CVX

Orange Investment Advisors Inc. lowered its stake in Chevron Corporation (NYSE:CVX) by 14.1% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 18,541 shares of the oil and gas company’s stock after selling 3,055 shares during the period. Orange Investment Advisors Inc.’s holdings in Chevron were worth $2,826,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in CVX. United Bank raised its holdings in shares of Chevron by 7.7% in the second quarter. United Bank now owns 11,079 shares of the oil and gas company’s stock worth $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 second quarter. Schnieders Capital Management LLC. now owns 50,839 shares of the oil and gas company’s stock worth $7,280,000 after buying an additional 4,214 shares during the last quarter. BNP Paribas raised its holdings in shares of Chevron by 76.4% during the second quarter. BNP Paribas now owns 441 shares of the oil and gas company’s stock worth $63,000 after purchasing an additional 191 shares during the last quarter. Osterweis Capital Management Inc. raised its holdings in shares of Chevron by 678.9% during the second quarter. Osterweis Capital Management Inc. now owns 1,363 shares of the oil and gas company’s stock worth $195,000 after purchasing an additional 1,188 shares during the last quarter. Finally, Main Street Financial Solutions LLC raised its holdings in shares of Chevron by 3.6% during the second quarter. Main Street Financial Solutions LLC now owns 16,052 shares of the oil and gas company’s stock worth $2,299,000 after purchasing an additional 553 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Stock Down 0.1%

Shares of NYSE CVX opened at $191.23 on Friday. The company’s 50-day simple moving average is $193.55 and its 200-day simple moving average is $174.48. Chevron Corporation has a 52-week low of $133.77 and a 52-week high of $214.71. The firm has a market cap 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 quick ratio of 0.84, a current ratio of 1.09 and a debt-to-equity ratio of 0.21.

Chevron (NYSE:CVX) last announced its earnings results on Friday, May 1st. The oil and gas company reported $1.41 earnings per share (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 for the quarter, compared to analyst estimates of $51.86 billion. During the same quarter last year, the business earned $2.18 earnings per share. The company’s revenue for the quarter was up 2.1% compared to the same quarter last year. Equities analysts predict that Chevron Corporation will post 15.43 EPS for the current fiscal year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Shareholders 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 dividend on an annualized basis and a yield of 3.7%. Chevron’s payout ratio is 123.40%.

Trending Headlines about Chevron

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

Insider Activity at Chevron

In other Chevron news, 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 transaction of $10,941,700.00. Following the transaction, the insider directly owned 8,558 shares of the company’s stock, valued at $1,614,466.70. The trade was a 87.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John B. Hess sold 195,000 shares of Chevron stock in a transaction dated 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 transaction, the director directly owned 658,045 shares in the company, valued at $121,593,555.10. This trade represents a 22.86% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 799,699 shares of company stock valued at $151,259,517 over the last ninety days. Corporate insiders own 0.56% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CVX. Zacks Research raised shares of Chevron from a “hold” rating to a “strong-buy” rating in a report on Friday, April 3rd. Morgan Stanley raised their target price on shares of Chevron from $174.00 to $212.00 and gave the stock an “overweight” rating in a report on Friday, March 27th. Wells Fargo & Company lifted their price objective on shares of Chevron from $204.00 to $222.00 and gave the company an “overweight” rating in a report on Thursday, April 9th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $216.00 price objective on shares of Chevron in a report on Wednesday, May 6th. Finally, Scotiabank lifted their price objective on shares of Chevron from $168.00 to $187.00 and gave the company a “sector perform” rating in a report on Wednesday, April 22nd. One investment 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 assigned 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.

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.