Bank of New York Mellon Corp Has $2.52 Billion Stock Holdings in Chevron Corporation $CVX

Bank of New York Mellon Corp cut its position in Chevron Corporation (NYSE:CVX) by 15.8% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 16,519,868 shares of the oil and gas company’s stock after selling 3,107,278 shares during the quarter. Bank of New York Mellon Corp’s holdings in Chevron were worth $2,517,793,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently bought and sold shares of CVX. D.B. Root & Company LLC boosted its stake in Chevron by 1.0% during the 4th quarter. D.B. Root & Company LLC now owns 5,552 shares of the oil and gas company’s stock valued at $846,000 after purchasing an additional 57 shares during the period. Cornerstone Planning Group LLC increased its position in Chevron by 6.8% during the fourth quarter. Cornerstone Planning Group LLC now owns 930 shares of the oil and gas company’s stock worth $142,000 after acquiring an additional 59 shares during the period. MMA Asset Management LLC raised its stake in Chevron by 3.4% during the 4th quarter. MMA Asset Management LLC now owns 1,820 shares of the oil and gas company’s stock valued at $277,000 after purchasing an additional 59 shares during the last quarter. EWA LLC boosted its holdings in Chevron by 2.8% in the 4th quarter. EWA LLC now owns 2,182 shares of the oil and gas company’s stock valued at $333,000 after purchasing an additional 59 shares during the period. Finally, Hantz Financial Services Inc. boosted its holdings in Chevron by 0.5% in the 4th quarter. Hantz Financial Services Inc. now owns 12,916 shares of the oil and gas company’s stock valued at $1,969,000 after purchasing an additional 59 shares during the period. Institutional investors own 72.42% of the company’s stock.

Insider Buying and Selling

In other news, Director John B. Hess sold 380,000 shares of the business’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 completion of the sale, the director owned 278,045 shares in the company, valued at $53,718,294. The trade was a 57.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider R. Hewitt Pate sold 40,200 shares of the firm’s stock in a transaction dated Monday, March 30th. The shares were sold at an average price of $213.30, for a total value of $8,574,660.00. Following the completion of the transaction, the insider owned 8,638 shares in the company, valued at approximately $1,842,485.40. This represents a 82.31% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 662,400 shares of company stock valued at $127,090,824. 0.56% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Melius Research upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $205.00 price objective on the stock in a report on Tuesday, February 17th. UBS Group lifted their target price on Chevron from $218.00 to $220.00 and gave the stock a “buy” rating in a research report on Monday, May 4th. Wells Fargo & Company boosted their price target on Chevron from $204.00 to $222.00 and gave the company an “overweight” rating in a research note on Thursday, April 9th. Mizuho upped their price target on Chevron from $225.00 to $230.00 and gave the company an “outperform” rating in a report on Wednesday, May 27th. Finally, Bank of America raised their price objective on Chevron from $188.00 to $206.00 and gave the stock a “buy” rating in a research report on Monday, March 2nd. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $205.70.

Chevron Price Performance

Shares of CVX stock opened at $187.77 on Wednesday. The stock’s fifty day simple moving average is $191.96 and its 200 day simple moving average is $176.04. 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 Corporation has a one year low of $136.60 and a one year high of $214.71. The firm has a market cap of $373.95 billion, a price-to-earnings ratio of 32.54, a P/E/G ratio of 0.61 and a beta of 0.48.

Chevron (NYSE:CVX) last announced its earnings results on Friday, May 1st. The oil and gas company reported $1.41 EPS for the quarter, topping the consensus estimate of $1.00 by $0.41. The business had revenue of $47.56 billion for the quarter, compared to the consensus estimate of $51.86 billion. Chevron had a return on equity of 6.90% and a net margin of 5.79%.Chevron’s revenue was up 2.1% compared to the same quarter last year. During the same period in the previous year, the business earned $2.18 EPS. On average, analysts expect that Chevron Corporation will post 15.74 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Tuesday, May 19th will be paid a dividend of $1.78 per share. This represents a $7.12 annualized dividend and a dividend yield of 3.8%. The ex-dividend date of this dividend is Tuesday, May 19th. Chevron’s dividend payout ratio is 123.40%.

Key Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron is attracting fresh bullish research coverage, with several reports highlighting its earnings momentum, growth drivers, and valuation appeal. Barclays also raised its price target on Chevron to $213 from $192 while keeping an Equal Weight rating. Top Research Reports for Chevron, Goldman Sachs & Philip Morris
• Positive Sentiment: Chevron applied to join Argentina’s incentive regime for a $13.8 billion unconventional oil project in Vaca Muerta, signaling a major long-term investment that could expand production and future cash flow. Chevron applies for Argentina tax break program with $13.8 billion investment plan
• Positive Sentiment: Recent commentary also points to Chevron’s production growth and offshore expansion strategy, including its completed Hess acquisition in Guyana and new exploration ambitions in Greece, reinforcing the company’s reserve and output growth story. Chevron Deepens Offshore Bets In Guyana And Greece As Risk Profile Shifts

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.