Edgestream Partners L.P. Sells 13,595 Shares of Chevron Corporation $CVX

Edgestream Partners L.P. cut its holdings in shares of Chevron Corporation (NYSE:CVX) by 50.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,453 shares of the oil and gas company’s stock after selling 13,595 shares during the quarter. Edgestream Partners L.P.’s holdings in Chevron were worth $2,783,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Financial Insights Inc. grew its stake in shares of Chevron by 123.5% in the first quarter. Financial Insights Inc. now owns 3,122 shares of the oil and gas company’s stock worth $646,000 after acquiring an additional 1,725 shares during the last quarter. Kentucky Retirement Systems raised its stake in Chevron by 31.7% during the 1st quarter. Kentucky Retirement Systems now owns 158,780 shares of the oil and gas company’s stock valued at $32,852,000 after purchasing an additional 38,186 shares during the last quarter. Centaurus Financial Inc. raised its stake in Chevron by 1.0% during the 1st quarter. Centaurus Financial Inc. now owns 12,634 shares of the oil and gas company’s stock valued at $2,614,000 after purchasing an additional 129 shares during the last quarter. Bull Harbor Capital LLC acquired a new position in Chevron during the 1st quarter valued at $437,000. Finally, Strategic Investment Advisors MI boosted its holdings in Chevron by 380.6% in the 1st quarter. Strategic Investment Advisors MI now owns 10,611 shares of the oil and gas company’s stock valued at $2,195,000 after purchasing an additional 8,403 shares during the period. 72.42% of the stock is owned by institutional investors.

Trending Headlines about Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Strong earnings beat: Chevron reported adjusted earnings of $12.0 billion, or $6.06 per diluted share, versus analysts’ expectation of $5.55. Reported earnings reached $12.1 billion, the company’s highest quarterly profit in at least six years, while revenue rose 57.4% year over year to $67.2 billion. Chevron records highest quarterly profit in six years, tops estimates
• Positive Sentiment: Higher production and refining performance: Global oil-equivalent production increased 20% to 4.07 million barrels per day, supported by Hess-related assets, the Permian Basin and the Gulf of America. Record U.S. production, strong refining margins and near-full-capacity operations boosted results. CVX Q2 Earnings Beat on Higher Output and Strong Refining Margins
• Positive Sentiment: Excellent cash generation and growth opportunities: Operating cash flow was $22.6 billion, and Chevron maintained its $1.78 quarterly dividend. Management also highlighted expansion plans involving Iraq, Venezuela, Argentina and a 20-year power agreement to supply a Microsoft data center. Chevron CFO on second-quarter earnings, growth plan and Iraq accord
• Neutral Sentiment: Energy-sector tailwind: Rising crude, gasoline and diesel prices, driven by Middle East supply disruptions, lifted Chevron and other integrated oil companies and supported broader energy ETFs. Supermajor Earnings: Exxon and Chevron’s Impact on ETF Market
• Negative Sentiment: Geopolitical and valuation risks remain: Chevron said the conflict reduced output in the Saudi Arabia–Kuwait Partitioned Zone. Executives also warned of escalating supply risks, while potential gasoline-price interventions or windfall taxes could pressure future profits. Analysts noted that some of the earnings improvement may already be reflected in the stock price. Chevron’s Strong Quarter Shows Why It Still Leads the Energy Sector

Chevron Price Performance

Shares of Chevron stock opened at $197.10 on Friday. The stock has a market capitalization of $392.55 billion, a price-to-earnings ratio of 18.90, a P/E/G ratio of 0.61 and a beta of 0.50. The firm’s 50-day moving average price is $181.95 and its two-hundred day moving average price is $184.96. The company has a current ratio of 1.09, a quick ratio of 0.84 and a debt-to-equity ratio of 0.21. Chevron Corporation has a 1-year low of $146.49 and a 1-year high of $214.71.

Chevron (NYSE:CVX) last posted its earnings results on Friday, July 31st. The oil and gas company reported $6.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.55 by $0.51. The company had revenue of $67.20 billion during the quarter, compared to analysts’ expectations of $62.72 billion. Chevron had a net margin of 5.79% and a return on equity of 6.90%. Chevron’s quarterly revenue was up 57.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.77 earnings per share. On average, equities analysts predict that Chevron Corporation will post 15.64 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Wednesday, August 19th will be issued a dividend of $1.78 per share. This represents a $7.12 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend is Wednesday, August 19th. Chevron’s dividend payout ratio (DPR) is currently 123.40%.

Insider Transactions at Chevron

In other Chevron news, Director John B. Hess sold 380,000 shares of Chevron 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 completion of the transaction, the director owned 278,045 shares in the company, valued at approximately $53,718,294. The trade was a 57.75% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.56% of the company’s stock.

Analysts Set New Price Targets

CVX has been the topic of several research analyst reports. Wolfe Research upgraded shares of Chevron from a “peer perform” rating to an “outperform” rating and set a $210.00 price target on the stock in a research report on Thursday, July 2nd. Piper Sandler assumed coverage on shares of Chevron in a research note on Thursday, July 23rd. They issued an “overweight” rating and a $207.00 target price for the company. Barclays lifted their target price on Chevron from $192.00 to $213.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 26th. Royal Bank Of Canada restated an “outperform” rating and set a $220.00 price target on shares of Chevron in a research note on Tuesday, May 5th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and issued a $216.00 price target on shares of Chevron in a report on Wednesday, May 6th. Eighteen analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Chevron currently has an average rating of “Moderate Buy” and a consensus price target of $207.17.

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.