Jericho Financial LLP Sells 7,490 Shares of Chevron Corporation $CVX

Jericho Financial LLP cut its stake in Chevron Corporation (NYSE:CVX) by 23.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 24,043 shares of the oil and gas company’s stock after selling 7,490 shares during the period. Chevron accounts for approximately 3.1% of Jericho Financial LLP’s portfolio, making the stock its 16th largest position. Jericho Financial LLP’s holdings in Chevron were worth $4,974,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of CVX. Compton Financial Group LLC boosted its position in shares of Chevron by 1.9% during the first quarter. Compton Financial Group LLC now owns 2,944 shares of the oil and gas company’s stock valued at $609,000 after purchasing an additional 56 shares in the last quarter. D.B. Root & Company LLC raised its holdings in Chevron by 1.0% in the fourth quarter. D.B. Root & Company LLC now owns 5,552 shares of the oil and gas company’s stock worth $846,000 after purchasing an additional 57 shares in the last quarter. Chatterton & Associates Inc. lifted its position in Chevron by 1.7% during the first quarter. Chatterton & Associates Inc. now owns 3,427 shares of the oil and gas company’s stock valued at $652,000 after buying an additional 57 shares during the period. First United Bank & Trust lifted its position in Chevron by 0.5% during the first quarter. First United Bank & Trust now owns 12,532 shares of the oil and gas company’s stock valued at $2,593,000 after buying an additional 57 shares during the period. Finally, Fox Hill Wealth Management boosted its holdings in shares of Chevron by 1.7% during the 4th quarter. Fox Hill Wealth Management now owns 3,443 shares of the oil and gas company’s stock valued at $525,000 after buying an additional 57 shares in the last quarter. 72.42% of the stock is owned by institutional investors.

Analysts Set New Price Targets

CVX has been the subject of several research reports. TD Cowen increased their price target on shares of Chevron from $204.00 to $205.00 and gave the stock a “hold” rating in a research note on Friday, May 8th. Weiss Ratings lowered shares of Chevron from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, June 2nd. BNP Paribas Exane upgraded shares of 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. Citigroup raised their target price on shares of Chevron from $210.00 to $235.00 and gave the company a “buy” rating in a research note on Thursday, April 2nd. Finally, Royal Bank Of Canada reiterated an “outperform” rating and set a $220.00 target price on shares of Chevron in a report on Tuesday, May 5th. Nineteen analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $205.71.

Chevron Stock Up 1.1%

NYSE:CVX opened at $175.89 on Thursday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.84 and a current ratio of 1.09. The firm has a market cap of $350.31 billion, a P/E ratio of 30.48, a P/E/G ratio of 0.59 and a beta of 0.50. Chevron Corporation has a fifty-two week low of $146.49 and a fifty-two week high of $214.71. The firm has a 50-day simple moving average of $182.51 and a two-hundred day simple moving average of $181.14.

Chevron (NYSE:CVX) last issued its earnings results on Friday, May 1st. The oil and gas company reported $1.41 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $47.56 billion for the quarter, compared to the consensus estimate of $51.86 billion. During the same quarter in the prior year, the firm posted $2.18 earnings per share. The business’s revenue was up 2.1% on a year-over-year basis. Analysts predict that Chevron Corporation will post 15.28 earnings per share for the current fiscal year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Tuesday, May 19th were issued a $1.78 dividend. This represents a $7.12 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date was Tuesday, May 19th. Chevron’s payout ratio is presently 123.40%.

Insider Transactions at Chevron

In related news, Director John B. Hess sold 380,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $193.20, for a total value of $73,416,000.00. Following the transaction, the director directly owned 278,045 shares of the company’s stock, valued at approximately $53,718,294. This represents a 57.75% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company 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 stock is benefiting from a jump in oil prices, which boosts expected upstream earnings and improves sentiment across the energy sector. Why Is Chevron Stock Gaining Wednesday?
• Positive Sentiment: Rising geopolitical tensions and the unraveling of the U.S.–Iran ceasefire have pushed crude and risk premiums higher, giving integrated oil names like Chevron a lift. Ceasefire Cracks, Oil Bounces: Why Exxon, Chevron Stocks Are Hot Again
• Positive Sentiment: Chevron announced it will offer rival drillers access to its chemical technology to help boost shale output, reinforcing its role in U.S. energy production and potentially creating a new commercialization opportunity. Chevron offers rival drillers its chemical technology to boost shale oil output
• Positive Sentiment: Chevron remains in focus for investors seeking dependable income, with articles highlighting its attractive dividend yield and its status as a preferred blue-chip energy holding. Chevron (CVX) – Among the 14 Best Blue Chip Dividend Stocks to Buy According to Hedge Funds
• Neutral Sentiment: Market commentary also notes Chevron’s stock has held up despite recent index removal and continuing debate over valuation, Guyana growth, and cash-flow durability. Chevron (CVX) Following Index Removal And Guyana Upgrades, Is The Valuation Case Intact?
• Neutral Sentiment: Coverage around Chevron’s AI-related energy demand exposure and a new technology licensing agreement with ZL Chemicals adds longer-term strategic interest, but these headlines are less likely to drive near-term trading than oil prices. Chevron (NYSE:CVX) Powers AI Demand Across Energy Markets Chevron, ZL Chemicals sign technology licensing agreement
• Negative Sentiment: Chevron also faced a negative operational headline after one of its tankers used for CPC shipments was reportedly hit by a drone in the Black Sea, which could raise transportation and geopolitical risk concerns. Chevron tanker used for CPC oil hit by drone in Black Sea

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.