Virginia Wealth Management Group Inc. Acquires 9,155 Shares of Chevron Corporation $CVX

Virginia Wealth Management Group Inc. boosted its holdings in shares of Chevron Corporation (NYSE:CVX) by 35.6% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 34,839 shares of the oil and gas company’s stock after purchasing an additional 9,155 shares during the quarter. Chevron comprises 3.9% of Virginia Wealth Management Group Inc.’s portfolio, making the stock its 2nd biggest position. Virginia Wealth Management Group Inc.’s holdings in Chevron were worth $7,208,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Midwest Capital Advisors LLC purchased a new position in shares of Chevron during the first quarter worth $25,000. Phillip James Consulting Co. acquired a new position in Chevron during the fourth quarter valued at $26,000. Core Wealth Advisors LLC purchased a new stake in Chevron in the fourth quarter valued at $26,000. Karpus Management Inc. purchased a new stake in Chevron in the fourth quarter valued at $27,000. Finally, Basso Capital Management L.P. acquired a new stake in Chevron during the 4th quarter worth about $27,000. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Royal Bank Of Canada reiterated an “outperform” rating and set a $220.00 price objective on shares of Chevron in a research note on Tuesday, May 5th. Scotiabank raised their target price on Chevron from $168.00 to $187.00 and gave the stock a “sector perform” rating in a report on Wednesday, April 22nd. Wells Fargo & Company lifted their price target on Chevron from $204.00 to $222.00 and gave the company an “overweight” rating in a research report on Thursday, April 9th. BNP Paribas Exane raised Chevron from a “neutral” rating to an “outperform” rating and set a $174.00 price target for the company in a report on Friday, April 17th. Finally, TD Cowen upped their price objective on Chevron from $204.00 to $205.00 and gave the stock a “hold” rating in a research report on Friday, May 8th. Nineteen analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Chevron currently has an average rating of “Moderate Buy” and an average price target of $205.71.

Key Stories Impacting Chevron

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 Price Performance

Shares of Chevron stock opened at $175.89 on Thursday. The firm has a market cap of $350.31 billion, a PE ratio of 30.48, a P/E/G ratio of 0.59 and a beta of 0.50. Chevron Corporation has a twelve month low of $146.49 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. The business has a 50-day moving average price of $182.51 and a 200 day moving average price of $181.14.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, May 1st. The oil and gas company reported $1.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.00 by $0.41. Chevron had a return on equity of 6.90% and a net margin of 5.79%.The company 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 business posted $2.18 earnings per share. Chevron’s revenue for the quarter was up 2.1% on a year-over-year basis. Sell-side analysts predict that Chevron Corporation will post 15.28 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Tuesday, May 19th were given a dividend of $1.78 per share. The ex-dividend date was Tuesday, May 19th. This represents a $7.12 dividend on an annualized basis and a dividend yield of 4.0%. Chevron’s dividend payout ratio (DPR) is 123.40%.

Insider Activity

In related news, Director John B. Hess sold 380,000 shares of Chevron stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $193.20, for a total value of $73,416,000.00. Following the sale, the director owned 278,045 shares of the company’s stock, valued at approximately $53,718,294. This trade represents a 57.75% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.56% of the stock is owned by company insiders.

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.