Janney Montgomery Scott LLC Decreases Stock Holdings in Chevron Corporation $CVX

Janney Montgomery Scott LLC trimmed its position in Chevron Corporation (NYSE:CVX) by 5.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,171,663 shares of the oil and gas company’s stock after selling 64,340 shares during the quarter. Janney Montgomery Scott LLC owned 0.06% of Chevron worth $178,573,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in CVX. United Bank increased its stake 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 period. Schnieders Capital Management LLC. increased its stake 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 period. BNP Paribas increased its stake in shares of Chevron by 76.4% in the second quarter. BNP Paribas now owns 441 shares of the oil and gas company’s stock worth $63,000 after buying an additional 191 shares during the period. Osterweis Capital Management Inc. increased its stake 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 valued at $195,000 after buying an additional 1,188 shares during the period. Finally, Main Street Financial Solutions LLC increased its stake 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 valued at $2,299,000 after buying an additional 553 shares during the period. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Price Performance

Shares of CVX stock opened at $189.89 on Thursday. The stock has a market cap of $378.19 billion, a price-to-earnings ratio of 32.91, a PEG ratio of 0.62 and a beta of 0.48. The business’s fifty day moving average is $189.38 and its 200 day moving average is $177.75. Chevron Corporation has a twelve month low of $142.40 and a twelve month high of $214.71. 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 issued its quarterly earnings results on Friday, May 1st. The oil and gas company reported $1.41 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.41. The company had revenue of $47.56 billion for the quarter, compared to analysts’ expectations of $51.86 billion. Chevron had a return on equity of 6.90% and a net margin of 5.79%.The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same period in the prior year, the firm earned $2.18 earnings per share. Research analysts expect that Chevron Corporation will post 15.74 EPS for the current fiscal year.

Chevron Dividend Announcement

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

Insider Buying and Selling at Chevron

In other news, Director John B. Hess sold 380,000 shares of the company’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $193.20, for a total transaction of $73,416,000.00. Following the transaction, the director directly owned 278,045 shares of the company’s stock, valued at $53,718,294. This represents a 57.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider R. Hewitt Pate sold 40,200 shares of the stock in a transaction dated Monday, March 30th. The shares were sold at an average price of $213.30, for a total value of $8,574,660.00. Following the completion of the transaction, the insider directly owned 8,638 shares in the company, valued at approximately $1,842,485.40. This represents a 82.31% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 615,200 shares of company stock worth $118,022,760. 0.56% of the stock is owned by insiders.

Key Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron was highlighted as one of the top oil stocks to buy as energy investors look for resilient names, with articles emphasizing its defensive cash flows and income appeal. Article Title
• Positive Sentiment: Market commentary on Chevron’s Guyana assets pointed to a combined $7.6 billion profit for ExxonMobil and Chevron last year, reinforcing the value of its low-cost production base amid geopolitical tensions. Article Title
• Positive Sentiment: Chevron was also featured in a bullish technical forecast saying momentum is improving and buyers may be regaining control as the stock approaches a breakout level. Article Title
• Positive Sentiment: Reports that Chevron is advancing a major shale project in Argentina’s Vaca Muerta basin and moving closer to approval for a $13.8 billion investment could support future production growth. Article Title
• Neutral Sentiment: Chevron continues to attract attention as a dividend stock for retirement portfolios, which supports the investment case but does not represent a new catalyst. Article Title
• Negative Sentiment: Zacks Research downgraded Chevron from strong-buy to hold, which could temper enthusiasm despite the stock’s otherwise constructive news flow. Article Title

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Barclays boosted their target price on Chevron from $192.00 to $213.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 26th. Mizuho boosted their target price on Chevron from $225.00 to $230.00 and gave the company an “outperform” rating in a research note on Wednesday, May 27th. TD Cowen boosted their target price on Chevron from $204.00 to $205.00 and gave the company a “hold” rating in a research note on Friday, May 8th. Bank of America boosted their target price on Chevron from $188.00 to $206.00 and gave the company a “buy” rating in a research note on Monday, March 2nd. Finally, Tudor Pickering raised Chevron from a “hold” rating to a “buy” rating and set a $225.00 target price on the stock in a research note on Thursday, April 9th. Eighteen analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Chevron currently has a consensus rating of “Moderate Buy” and a consensus target price of $205.70.

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.