Hollow Brook Wealth Management LLC Cuts Stock Position in Chevron Corporation $CVX

Hollow Brook Wealth Management LLC lessened its holdings in Chevron Corporation (NYSE:CVX) by 12.4% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 36,743 shares of the oil and gas company’s stock after selling 5,184 shares during the quarter. Chevron makes up 1.4% of Hollow Brook Wealth Management LLC’s portfolio, making the stock its 19th largest position. Hollow Brook Wealth Management LLC’s holdings in Chevron were worth $5,600,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of Chevron by 17.9% during the 3rd quarter. Vanguard Group Inc. now owns 183,790,028 shares of the oil and gas company’s stock valued at $28,540,753,000 after purchasing an additional 27,961,463 shares during the last quarter. State Street Corp boosted its holdings in shares of Chevron by 9.1% during the 3rd quarter. State Street Corp now owns 152,605,988 shares of the oil and gas company’s stock valued at $23,698,184,000 after purchasing an additional 12,789,399 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Chevron by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 43,613,011 shares of the oil and gas company’s stock valued at $6,620,187,000 after acquiring an additional 134,890 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Chevron by 2.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 36,036,844 shares of the oil and gas company’s stock valued at $5,492,377,000 after acquiring an additional 961,341 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Chevron in the 4th quarter valued at about $3,727,586,000. Institutional investors own 72.42% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on CVX shares. Zacks Research downgraded shares of Chevron from a “strong-buy” rating to a “hold” rating in a report on Monday, June 8th. Sanford C. Bernstein lowered their price target on shares of Chevron from $216.00 to $204.00 and set a “market perform” rating for the company in a report on Monday, May 11th. HSBC raised shares of Chevron from a “hold” rating to a “buy” rating and set a $215.00 price target for the company in a report on Friday, March 20th. Tudor Pickering raised shares of Chevron from a “hold” rating to a “buy” rating and set a $225.00 price target for the company in a report on Thursday, April 9th. Finally, TD Cowen increased their price target on shares of Chevron from $204.00 to $205.00 and gave the company a “hold” rating in a report on Friday, May 8th. Eighteen equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $205.70.

Chevron News Roundup

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron continues to look reasonably attractive to income-focused investors, with recent commentary highlighting its relatively low forward earnings multiple and the added production potential from the Hess acquisition, which expanded its exposure to Guyana and other key assets.
• Neutral Sentiment: Several headlines focused on broader market and energy-sector trends rather than Chevron-specific developments, including commentary on oil’s potential peak, Jim Cramer’s discussion of CVX, and general market rotation.
• Neutral Sentiment: Chevron also drew attention for ongoing institutional and analyst activity, with recent price targets clustered around the low-$200s and mixed fund flows that suggest Wall Street remains constructive overall but not uniformly bullish.
• Negative Sentiment: The main drag on Chevron has been the drop in crude prices after the U.S.-Iran deal framework, which reduced the geopolitical risk premium in oil and sparked broad selling across energy stocks. Article Title
• Negative Sentiment: Market commentary also noted that Chevron fell alongside peers such as Exxon and Occidental as oil prices slipped to multi-month lows, reinforcing that the move is being driven mainly by commodity weakness rather than a company-specific setback.

Chevron Stock Performance

Chevron stock opened at $180.49 on Tuesday. The company has a 50 day moving average price of $188.38 and a 200-day moving average price of $178.49. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.84 and a current ratio of 1.09. Chevron Corporation has a fifty-two week low of $142.40 and a fifty-two week high of $214.71. The company has a market capitalization of $359.47 billion, a PE ratio of 31.28, a P/E/G ratio of 0.61 and a beta of 0.48.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, May 1st. The oil and gas company reported $1.41 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $51.86 billion. During the same quarter in the previous year, the firm posted $2.18 earnings per share. The company’s revenue was up 2.1% on a year-over-year basis. As a group, equities analysts forecast that Chevron Corporation will post 15.88 earnings per share for the current year.

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Tuesday, May 19th were paid a dividend of $1.78 per share. This represents a $7.12 annualized dividend and a dividend yield of 3.9%. The ex-dividend date of this dividend was Tuesday, May 19th. Chevron’s payout ratio is currently 123.40%.

Insider Activity at Chevron

In other news, insider R. Hewitt Pate sold 40,200 shares of Chevron stock in a transaction that occurred on Monday, March 30th. The shares were sold at an average price of $213.30, for a total transaction of $8,574,660.00. Following the completion of the sale, the insider owned 8,638 shares of the company’s stock, valued at approximately $1,842,485.40. The trade was a 82.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 transaction of $73,416,000.00. Following the transaction, the director directly owned 278,045 shares in the company, valued at approximately $53,718,294. The trade was a 57.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 615,200 shares of company stock valued at $118,022,760 in the last ninety days. Insiders own 0.56% of the company’s stock.

Chevron 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.