WealthPLAN Partners LLC Cuts Stake in Chevron Corporation $CVX

WealthPLAN Partners LLC cut its holdings in shares of Chevron Corporation (NYSE:CVX) by 17.2% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 21,895 shares of the oil and gas company’s stock after selling 4,536 shares during the quarter. WealthPLAN Partners LLC’s holdings in Chevron were worth $4,530,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Midwest Capital Advisors LLC acquired a new stake in shares of Chevron in the first quarter valued at $25,000. Core Wealth Advisors LLC acquired a new position in Chevron during the 4th quarter worth $26,000. Phillip James Consulting Co. purchased a new stake in Chevron during the 4th quarter worth about $26,000. Basso Capital Management L.P. purchased a new stake in Chevron during the 4th quarter worth about $27,000. Finally, Karpus Management Inc. acquired a new stake in Chevron in the 4th quarter valued at about $27,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Key Headlines Impacting Chevron

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

Analysts Set New Price Targets

A number of brokerages have recently commented on CVX. Wells Fargo & Company boosted their price objective on Chevron from $204.00 to $222.00 and gave the stock an “overweight” rating in a research report on Thursday, April 9th. BNP Paribas Exane upgraded shares of Chevron from a “neutral” rating to an “outperform” rating and set a $174.00 price target for the company in a research note on Friday, April 17th. Piper Sandler boosted their price target on shares of Chevron from $179.00 to $242.00 and gave the stock an “overweight” rating in a report on Thursday, March 12th. Sanford C. Bernstein dropped their price objective on shares of Chevron from $216.00 to $204.00 and set a “market perform” rating on the stock in a research report on Monday, May 11th. Finally, HSBC upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $215.00 price objective on the stock in a report on Friday, March 20th. 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 stock. According to data from MarketBeat, Chevron has a consensus rating of “Moderate Buy” and a consensus target price of $205.71.

Chevron Trading Up 3.5%

CVX opened at $173.96 on Wednesday. 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 one year low of $146.49 and a one year high of $214.71. The company has a market cap of $346.46 billion, a P/E ratio of 30.15, a PEG ratio of 0.56 and a beta of 0.50. The business’s 50-day simple moving average is $182.69 and its 200-day simple moving average is $180.94.

Chevron (NYSE:CVX) last posted its earnings results on Friday, May 1st. The oil and gas company reported $1.41 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.41. The firm had revenue of $47.56 billion during the quarter, compared to analysts’ expectations of $51.86 billion. Chevron had a return on equity of 6.90% and a net margin of 5.79%.The firm’s revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.18 earnings per share. As a group, equities research analysts expect 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 given a $1.78 dividend. This represents a $7.12 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date of this dividend was Tuesday, May 19th. Chevron’s dividend payout ratio (DPR) is 123.40%.

Insider Buying and Selling

In related news, Director John B. Hess sold 380,000 shares of the business’s stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $193.20, for a total value of $73,416,000.00. Following the completion of the sale, the director directly owned 278,045 shares of the company’s stock, valued at $53,718,294. The trade was a 57.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.56% of the stock is owned by corporate insiders.

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.