World Equity Group Inc. Increases Stock Holdings in Chevron Corporation $CVX

World Equity Group Inc. boosted its stake in Chevron Corporation (NYSE:CVX) by 88.1% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 20,536 shares of the oil and gas company’s stock after acquiring an additional 9,618 shares during the quarter. Chevron comprises about 1.1% of World Equity Group Inc.’s holdings, making the stock its 17th largest holding. World Equity Group Inc.’s holdings in Chevron were worth $4,249,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. AIA Group Ltd raised its stake in shares of Chevron by 16.0% during the first quarter. AIA Group Ltd now owns 134,586 shares of the oil and gas company’s stock valued at $27,846,000 after purchasing an additional 18,589 shares during the period. Legacy Wealth Advisors LLC boosted its stake in shares of Chevron by 29.1% in the first quarter. Legacy Wealth Advisors LLC now owns 1,998 shares of the oil and gas company’s stock valued at $413,000 after purchasing an additional 450 shares during the period. Mediolanum International Funds Ltd grew its holdings in Chevron by 11.5% during the 1st quarter. Mediolanum International Funds Ltd now owns 109,018 shares of the oil and gas company’s stock valued at $22,971,000 after purchasing an additional 11,268 shares in the last quarter. Spartan Wealth Advisory Services LLC acquired a new stake in Chevron during the 1st quarter valued at $1,047,000. Finally, WealthTrust Asset Management LLC increased its stake in Chevron by 18.1% during the 1st quarter. WealthTrust Asset Management LLC now owns 2,907 shares of the oil and gas company’s stock worth $602,000 after buying an additional 446 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Insider Transactions at Chevron

In related news, Director John B. Hess sold 380,000 shares of the firm’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 in the company, valued at $53,718,294. This trade 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 this hyperlink. 0.56% of the stock is owned by insiders.

Key Headlines Impacting Chevron

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

Chevron Price Performance

Shares of CVX stock opened at $187.39 on Friday. The firm has a fifty day moving average of $181.54 and a two-hundred day moving average of $182.44. The firm has a market cap of $373.21 billion, a P/E ratio of 32.48, a P/E/G ratio of 0.66 and a beta of 0.50. Chevron Corporation has a 1-year low of $146.49 and a 1-year high of $214.71. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.09 and a quick ratio of 0.84.

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, beating 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 business had revenue of $47.56 billion for the quarter, compared to analyst estimates of $51.86 billion. During the same quarter in the prior year, the business posted $2.18 EPS. The company’s revenue for the quarter was up 2.1% on a year-over-year basis. As a group, research analysts anticipate that Chevron Corporation will post 14.78 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. Shareholders of record on Tuesday, May 19th were paid a dividend of $1.78 per share. The ex-dividend date was Tuesday, May 19th. This represents a $7.12 annualized dividend and a yield of 3.8%. Chevron’s dividend payout ratio is presently 123.40%.

Analyst Ratings Changes

CVX has been the topic of a number of recent analyst reports. Mizuho boosted their price objective on shares of Chevron from $225.00 to $230.00 and gave the stock an “outperform” rating in a report on Wednesday, May 27th. TD Cowen lifted their target price on Chevron from $204.00 to $205.00 and gave the stock a “hold” rating in a research report on Friday, May 8th. Weiss Ratings cut Chevron from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, June 2nd. Morgan Stanley reduced their price target on Chevron from $214.00 to $210.00 and set an “overweight” rating for the company in a report on Monday, June 29th. Finally, Barclays raised their price objective on Chevron from $192.00 to $213.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 26th. Nineteen investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $206.83.

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.