Ramsay Stattman Vela & Price Inc. Reduces Stock Position in Chevron Corporation $CVX

Ramsay Stattman Vela & Price Inc. lessened its holdings in Chevron Corporation (NYSE:CVX) by 10.4% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 39,435 shares of the oil and gas company’s stock after selling 4,560 shares during the quarter. Chevron makes up 1.6% of Ramsay Stattman Vela & Price Inc.’s holdings, making the stock its 25th largest holding. Ramsay Stattman Vela & Price Inc.’s holdings in Chevron were worth $8,159,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. United Bank increased its stake in Chevron by 7.7% in the 2nd 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. boosted its position 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 buying an additional 4,214 shares during the period. BNP Paribas boosted its position 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 buying an additional 191 shares during the period. Osterweis Capital Management Inc. grew its stake 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 worth $195,000 after acquiring an additional 1,188 shares in the last quarter. Finally, Main Street Financial Solutions LLC grew its stake 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 worth $2,299,000 after acquiring an additional 553 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

More Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Bank of America reportedly sees Chevron as a preferred way to play a potential crude price surge if tensions around the Strait of Hormuz keep oil prices elevated. CVX Stock Has A New Bull Case — Why Bank Of America Favors Chevron Over Exxon As Hormuz Risks Push Oil Prices Higher
• Positive Sentiment: Chevron announced a licensing agreement for its enhanced oil recovery technology, which could boost shale production, improve recovery rates, and create a new commercialization avenue. Chevron offers rival drillers its chemical technology to boost shale oil output
• Positive Sentiment: Media coverage highlighted Chevron’s exposure to higher crude prices as geopolitical risk in the Middle East increased, improving the earnings outlook for integrated oil producers. Ceasefire Cracks, Oil Bounces: Why Exxon, Chevron Stocks Are Hot Again
• Neutral Sentiment: Several articles frame Chevron as a long-term dividend and blue-chip energy holding, but these are mostly opinion pieces rather than new catalysts. ExxonMobil vs. Chevron: Which Oil Dividend Stock is the Better Buy for a Lifetime of Passive Income
• Neutral Sentiment: Coverage around Chevron’s inclusion in the Dow and broader energy-sector technical signals may support investor interest, but they do not appear to be immediate stock-moving events. What Keeps Chevron (NYSE:CVX) in the Dow Jones Industrial Average?
• Negative Sentiment: Chevron was also mentioned in connection with a DOJ probe tied to allegations of oil-price gouging, which could add regulatory overhang even as higher oil prices improve profit potential. Chevron (CVX) Faces DOJ Probe As Iran Tensions Raise Record Profit Stakes
• Negative Sentiment: Chevron’s tanker used for CPC oil shipments was reportedly hit by a drone in the Black Sea, underscoring geopolitical and operational risk. Chevron tanker used for CPC oil hit by drone in Black Sea

Chevron Price Performance

NYSE CVX opened at $174.05 on Friday. 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’s 50 day moving average price is $182.23 and its 200-day moving average price is $181.32. Chevron Corporation has a 52-week low of $146.49 and a 52-week high of $214.71. The company has a market cap of $346.64 billion, a PE ratio of 30.16, a P/E/G ratio of 0.60 and a beta of 0.50.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, May 1st. The oil and gas company reported $1.41 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.41. The company had revenue of $47.56 billion during the quarter, compared to the consensus estimate of $51.86 billion. Chevron had a net margin of 5.79% and a return on equity of 6.90%. Chevron’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.18 earnings per share. Sell-side analysts forecast that Chevron Corporation will post 15.28 EPS for the current fiscal year.

Chevron Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Tuesday, May 19th were issued a $1.78 dividend. This represents a $7.12 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date was Tuesday, May 19th. Chevron’s dividend payout ratio (DPR) is currently 123.40%.

Insider Activity

In other news, Director John B. Hess sold 380,000 shares of Chevron stock in a transaction that occurred 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 transaction, the director owned 278,045 shares of the company’s stock, valued at $53,718,294. The trade was a 57.75% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.56% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

CVX has been the subject of several research analyst reports. Barclays lifted their price target on shares of Chevron from $192.00 to $213.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 26th. The Goldman Sachs Group restated a “buy” rating and set a $216.00 price objective on shares of Chevron in a report on Wednesday, May 6th. Piper Sandler lifted their target price on Chevron from $179.00 to $242.00 and gave the company an “overweight” rating in a research report on Thursday, March 12th. Citigroup upped their target price on Chevron from $210.00 to $235.00 and gave the stock a “buy” rating in a report on Thursday, April 2nd. Finally, Wolfe Research raised Chevron from a “peer perform” rating to an “outperform” rating and set a $210.00 price target on the stock in a research report on Thursday, July 2nd. Nineteen equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $205.71.

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.