Smith Salley Wealth Management Has $26.25 Million Stock Position in Chevron Corporation $CVX

Smith Salley Wealth Management boosted its holdings in shares of Chevron Corporation (NYSE:CVX) by 3.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 126,862 shares of the oil and gas company’s stock after purchasing an additional 4,198 shares during the period. Chevron comprises approximately 1.3% of Smith Salley Wealth Management’s investment portfolio, making the stock its 22nd biggest position. Smith Salley Wealth Management’s holdings in Chevron were worth $26,248,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. State Street Corp lifted its stake in Chevron by 9.1% in 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. Berkshire Hathaway Inc increased its holdings in shares of Chevron by 6.6% during the fourth quarter. Berkshire Hathaway Inc now owns 130,156,362 shares of the oil and gas company’s stock worth $19,837,131,000 after buying an additional 8,091,570 shares in the last quarter. Geode Capital Management LLC lifted its stake 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 stake 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 acquired a new stake in shares of Chevron during the 4th quarter valued at $3,727,586,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on CVX shares. Piper Sandler upped their target price on Chevron from $179.00 to $242.00 and gave the stock an “overweight” rating in a report on Thursday, March 12th. TD Cowen lifted their price target on Chevron from $204.00 to $205.00 and gave the company a “hold” rating in a research note on Friday, May 8th. Wells Fargo & Company boosted their price target on Chevron from $204.00 to $222.00 and gave the stock an “overweight” rating in a report on Thursday, April 9th. UBS Group raised their price objective on shares of Chevron from $218.00 to $220.00 and gave the company a “buy” rating in a report on Monday, May 4th. Finally, Bank of America raised their price objective on shares of Chevron from $188.00 to $206.00 and gave the company a “buy” rating in a report on Monday, March 2nd. Eighteen investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $205.70.

Chevron Stock Up 0.7%

Shares of NYSE:CVX opened at $174.87 on Tuesday. The firm has a market cap of $348.27 billion, a P/E ratio of 30.31, a P/E/G ratio of 0.57 and a beta of 0.48. Chevron Corporation has a 12-month low of $142.40 and a 12-month high of $214.71. The business has a fifty day simple moving average of $186.32 and a 200 day simple moving average of $179.37. 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 released its quarterly earnings results on Friday, May 1st. The oil and gas company reported $1.41 EPS for the quarter, beating analysts’ consensus estimates of $1.00 by $0.41. The firm had revenue of $47.56 billion for the quarter, compared to analyst estimates of $51.86 billion. Chevron had a return on equity of 6.90% and a net margin of 5.79%.The business’s revenue was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.18 EPS. Analysts predict that Chevron Corporation will post 15.88 earnings per share for the current year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Tuesday, May 19th were given a dividend of $1.78 per share. This represents a $7.12 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date of this dividend was Tuesday, May 19th. Chevron’s dividend payout ratio is currently 123.40%.

More Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron signed a 20-year agreement with Microsoft to help power Project Kilby, a planned 2.67-gigawatt data center campus in West Texas. The deal could create a steadier, long-duration revenue stream and positions Chevron as a beneficiary of rising AI-related electricity demand. Chevron signs power supply deal with Microsoft for Texas data center
• Positive Sentiment: The project highlights Chevron’s move beyond traditional oil and gas into lower-volatility, infrastructure-like cash flows tied to AI data center power needs. That strategic shift has been viewed favorably by investors looking for growth outside commodity swings. Chevron Signs 20-year Deal to Power Microsoft’s AI Data Centers
• Neutral Sentiment: Separately, reports noted that Treasury issued a temporary license allowing Iranian oil sales, which could affect global crude supply and energy pricing, but the immediate impact on Chevron’s stock appears secondary to the Microsoft deal. Treasury Issues 60-Day License for Iranian Oil Sales Following Switzerland Talks

Insider Buying and Selling

In related news, Director John B. Hess sold 380,000 shares of Chevron stock in a transaction 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 completion of the transaction, the director owned 278,045 shares of the company’s stock, valued at $53,718,294. This trade represents a 57.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider R. Hewitt Pate sold 40,200 shares of the business’s stock in a transaction 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 transaction, the insider owned 8,638 shares in the company, valued at approximately $1,842,485.40. The trade was a 82.31% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 615,200 shares of company stock valued at $118,022,760 in the last three months. Insiders own 0.56% of the company’s stock.

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.