Clare Market Investments LLC Invests $662,000 in Chevron Corporation $CVX

Clare Market Investments LLC bought a new stake in shares of Chevron Corporation (NYSE:CVX) in the 1st quarter, Holdings Channel.com reports. The firm bought 3,200 shares of the oil and gas company’s stock, valued at approximately $662,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Midwest Capital Advisors LLC purchased a new position in shares of Chevron during the 1st quarter worth $25,000. Core Wealth Advisors LLC purchased a new stake in shares of Chevron in the 4th quarter worth $26,000. Phillip James Consulting Co. bought a new position in Chevron in the 4th quarter worth $26,000. Basso Capital Management L.P. bought a new position in Chevron in the 4th quarter worth $27,000. Finally, Karpus Management Inc. purchased a new position in Chevron during the fourth quarter valued at $27,000. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron News Roundup

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Wolfe Research upgraded Chevron to Outperform, citing a stronger cash-flow outlook tied to the company’s expanding Guyana development and other long-term growth projects. This Analyst Just Upgraded Chevron Stock. Here's Why.
• Positive Sentiment: Investors are also viewing Chevron more favorably after recent coverage highlighted strengthening fundamentals, better project execution, and the company’s cash-generation potential from Guyana and gas-fired power deals. Should Chevron’s (CVX) Index Exit and Guyana Upgrade Reframe How Investors View Its Cash-Flow Story?
• Neutral Sentiment: Broader energy-sector commentary says oil is trading well below the $100 threshold, with OPEC production increases and recession concerns weighing on crude prices; that creates uncertainty for Chevron’s near-term earnings outlook. Oil’s $100 Threshold: What It Means for Energy Stocks Now
• Negative Sentiment: Political pressure is also building, with criticism from the Trump administration and California Gov. Gavin Newsom over gasoline prices and Big Oil’s pricing power, which could keep sentiment around Chevron cautious. Big Oil's Windfall Earnings Threaten to Reignite Trump's Price-Gouging Push Gavin Newsom Slams Chevron, Says Gas Prices Still 'Elevated' Due to Trump's 'Reckless' Iran War

Insider Transactions at Chevron

In other Chevron news, Director John B. Hess sold 380,000 shares of the stock in a transaction dated 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 represents a 57.75% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.56% of the company’s stock.

Analysts Set New Price Targets

CVX has been the subject of several recent research reports. Tudor Pickering raised 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. Weiss Ratings cut Chevron from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, June 2nd. Piper Sandler boosted their price objective on Chevron from $179.00 to $242.00 and gave the company an “overweight” rating in a research note on Thursday, March 12th. Scotiabank increased their target price on shares of Chevron from $168.00 to $187.00 and gave the stock a “sector perform” rating in a report on Wednesday, April 22nd. Finally, HSBC upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $215.00 price target for the company in a research report on Friday, March 20th. Nineteen analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $205.71.

Chevron Stock Up 3.5%

NYSE CVX opened at $173.96 on Wednesday. Chevron Corporation has a 12 month low of $146.49 and a 12 month high of $214.71. The company has a current ratio of 1.09, a quick ratio of 0.84 and a debt-to-equity ratio of 0.21. The stock has a market cap of $346.46 billion, a PE ratio of 30.15, a P/E/G ratio of 0.56 and a beta of 0.50. The stock’s 50 day moving average is $182.69 and its 200 day moving average is $180.94.

Chevron (NYSE:CVX) last announced its quarterly earnings data 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. The business had revenue of $47.56 billion during the quarter, compared to analyst estimates of $51.86 billion. Chevron had a net margin of 5.79% and a return on equity of 6.90%. The company’s revenue was up 2.1% on a year-over-year basis. During the same period last year, the firm posted $2.18 EPS. Research analysts predict that Chevron Corporation will post 15.52 EPS for the current fiscal year.

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Tuesday, May 19th were paid a dividend of $1.78 per share. This represents a $7.12 annualized dividend and a yield of 4.1%. The ex-dividend date of this dividend was Tuesday, May 19th. Chevron’s dividend payout ratio (DPR) is presently 123.40%.

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.