Juno Financial Group LLC Sells 4,745 Shares of Chevron Corporation $CVX

Juno Financial Group LLC reduced its position in Chevron Corporation (NYSE:CVX) by 24.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,748 shares of the oil and gas company’s stock after selling 4,745 shares during the quarter. Chevron makes up about 1.2% of Juno Financial Group LLC’s holdings, making the stock its 20th largest position. Juno Financial Group LLC’s holdings in Chevron were worth $3,051,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Advisortrust Partners LLC purchased a new position in shares of Chevron during the 1st quarter valued at $297,000. Catalyst Capital Advisors LLC increased its holdings in Chevron by 7.4% in the 1st quarter. Catalyst Capital Advisors LLC now owns 21,475 shares of the oil and gas company’s stock worth $4,443,000 after acquiring an additional 1,477 shares during the last quarter. Forty three Eighteen Advisors LLC bought a new stake in Chevron in the 1st quarter valued at about $2,637,000. Assetmark Inc. raised its stake in Chevron by 8.7% in the 1st quarter. Assetmark Inc. now owns 182,419 shares of the oil and gas company’s stock valued at $37,743,000 after acquiring an additional 14,578 shares during the period. Finally, NovaPoint Capital LLC lifted its holdings in Chevron by 3.4% during the first quarter. NovaPoint Capital LLC now owns 23,677 shares of the oil and gas company’s stock valued at $4,899,000 after purchasing an additional 779 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors.

Chevron Stock Up 1.9%

CVX stock opened at $187.39 on Friday. The stock has a 50-day simple moving average of $181.54 and a two-hundred day simple moving average of $182.44. Chevron Corporation has a twelve month low of $146.49 and a twelve month high of $214.71. The firm has a market capitalization of $373.21 billion, a PE ratio of 32.48, a PEG ratio of 0.64 and a beta of 0.50. 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 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 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 period in the prior year, the firm posted $2.18 earnings per share. The company’s revenue for the quarter was up 2.1% on a year-over-year basis. On average, equities analysts predict that Chevron Corporation will post 14.83 EPS for the current fiscal year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Tuesday, May 19th were issued a dividend of $1.78 per share. This represents a $7.12 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date of this dividend was Tuesday, May 19th. Chevron’s dividend payout ratio is 123.40%.

Insiders Place Their Bets

In other Chevron news, Director John B. Hess sold 380,000 shares of the 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 sale, the director directly owned 278,045 shares in the company, valued at $53,718,294. This represents a 57.75% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.56% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. The Goldman Sachs Group reiterated a “buy” rating and set a $216.00 target price on shares of Chevron in a research report on Wednesday, May 6th. HSBC upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $215.00 price target on the stock in a research note on Friday, March 20th. Barclays raised their price objective on shares of Chevron from $192.00 to $213.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 26th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $220.00 price objective on shares of Chevron in a research note on Tuesday, May 5th. Finally, Zacks Research cut shares of Chevron from a “strong-buy” rating to a “hold” rating in a report on Monday, June 8th. Nineteen analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $206.83.

More Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron is expected to sign accords with Iraq to advance investments in major oil fields, including West Qurna 2 and Nassiriya, which could expand long-term production opportunities. Reuters article on Iraq oilfield MOUs
• Positive Sentiment: Reports that Chevron is exploring a pipeline alternative to the Strait of Hormuz suggest a potential way to boost Iraqi export capacity and lower shipping disruption risk, which investors may view as strategically important. The Motley Fool article on Hormuz bypass pipeline
• Positive Sentiment: Chevron is being highlighted as a relatively attractive long-term energy stock versus TotalEnergies because of its premium assets, strong balance sheet, and steadier earnings outlook. Yahoo Finance article comparing CVX and TTE
• Neutral Sentiment: Some commentary says Chevron stock looks closer to fairly valued after a strong five-year run, which may limit upside for investors expecting a clear bargain. Yahoo Finance article on valuation
• Neutral Sentiment: Chevron also benefited from broader energy-sector gains, with the sector rising even as the wider market was mixed. Yahoo Finance sector update

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.