Bartlett & CO. Wealth Management LLC Sells 26,003 Shares of Chevron Corporation $CVX

Bartlett & CO. Wealth Management LLC cut its holdings in Chevron Corporation (NYSE:CVX) by 5.4% in the first quarter, HoldingsChannel reports. The firm owned 452,540 shares of the oil and gas company’s stock after selling 26,003 shares during the quarter. Chevron accounts for 1.2% of Bartlett & CO. Wealth Management LLC’s portfolio, making the stock its 24th largest position. Bartlett & CO. Wealth Management LLC’s holdings in Chevron were worth $87,014,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. MTM Investment Management LLC raised its position in shares of Chevron by 0.5% during the 1st quarter. MTM Investment Management LLC now owns 30,502 shares of the oil and gas company’s stock valued at $6,311,000 after buying an additional 140 shares in the last quarter. Ranch Capital Advisors Inc. increased its stake in Chevron by 0.9% during the first quarter. Ranch Capital Advisors Inc. now owns 15,324 shares of the oil and gas company’s stock worth $3,171,000 after acquiring an additional 141 shares during the last quarter. Heartland Bank & Trust Co increased its stake in Chevron by 68.7% during the first quarter. Heartland Bank & Trust Co now owns 12,823 shares of the oil and gas company’s stock worth $2,653,000 after acquiring an additional 5,224 shares during the last quarter. Zhang Financial LLC raised its position in Chevron by 21.1% during the first quarter. Zhang Financial LLC now owns 7,989 shares of the oil and gas company’s stock valued at $1,653,000 after purchasing an additional 1,390 shares during the period. Finally, FSA Advisors Inc. purchased a new stake in Chevron during the first quarter valued at approximately $234,000. 72.42% of the stock is currently owned by institutional investors.

Key Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron is expected to sign accords with Iraq to advance investments in major oil fields, including West Qurna 2 and Nassiriya, which could expand long-term production opportunities. Reuters article on Iraq oilfield MOUs
• Positive Sentiment: Reports that Chevron is exploring a pipeline alternative to the Strait of Hormuz suggest a potential way to boost Iraqi export capacity and lower shipping disruption risk, which investors may view as strategically important. The Motley Fool article on Hormuz bypass pipeline
• Positive Sentiment: Chevron is being highlighted as a relatively attractive long-term energy stock versus TotalEnergies because of its premium assets, strong balance sheet, and steadier earnings outlook. Yahoo Finance article comparing CVX and TTE
• Neutral Sentiment: Some commentary says Chevron stock looks closer to fairly valued after a strong five-year run, which may limit upside for investors expecting a clear bargain. Yahoo Finance article on valuation
• Neutral Sentiment: Chevron also benefited from broader energy-sector gains, with the sector rising even as the wider market was mixed. Yahoo Finance sector update

Chevron Stock Up 1.9%

Shares of NYSE CVX opened at $187.39 on Friday. Chevron Corporation has a 1 year low of $146.49 and a 1 year high of $214.71. The firm has a 50-day simple moving average of $181.54 and a two-hundred day simple moving average of $182.44. The company has a market cap of $373.21 billion, a P/E ratio of 32.48, a PEG ratio of 0.64 and a beta of 0.50. 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 (NYSE:CVX) last released its 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. Chevron had a return on equity of 6.90% and a net margin of 5.79%.The firm had revenue of $47.56 billion for the quarter, compared to analysts’ expectations of $51.86 billion. During the same quarter in the prior year, the firm posted $2.18 earnings per share. The company’s quarterly revenue was up 2.1% on a year-over-year basis. Research analysts anticipate that Chevron Corporation will post 14.83 earnings per share for the current year.

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Tuesday, May 19th were issued a dividend of $1.78 per share. The ex-dividend date was Tuesday, May 19th. This represents a $7.12 dividend on an annualized basis and a yield of 3.8%. Chevron’s payout ratio is presently 123.40%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. TD Cowen lifted their target price on Chevron from $204.00 to $205.00 and gave the stock a “hold” rating in a report on Friday, May 8th. Wells Fargo & Company increased their price target on Chevron from $204.00 to $222.00 and gave the company an “overweight” rating in a report on Thursday, April 9th. Royal Bank Of Canada restated an “outperform” rating and set a $220.00 price target on shares of Chevron in a report on Tuesday, May 5th. BNP Paribas Exane upgraded Chevron from a “neutral” rating to an “outperform” rating and set a $174.00 price target for the company in a research report on Friday, April 17th. Finally, UBS Group reaffirmed a “buy” rating on shares of Chevron in a research note on Tuesday, June 23rd. Nineteen analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $206.83.

Insider Buying and Selling

In other Chevron news, Director John B. Hess sold 380,000 shares of the company’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $193.20, for a total value of $73,416,000.00. Following 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 sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.56% of the stock is owned by company insiders.

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.