O Shaughnessy Asset Management LLC Cuts Stake in Chevron Corporation $CVX

O Shaughnessy Asset Management LLC reduced its stake in Chevron Corporation (NYSE:CVX) by 6.3% during the fourth quarter, HoldingsChannel reports. The fund owned 515,314 shares of the oil and gas company’s stock after selling 34,407 shares during the period. O Shaughnessy Asset Management LLC’s holdings in Chevron were worth $78,539,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. Hilton Head Capital Partners LLC purchased a new stake in shares of Chevron in the fourth quarter worth $963,000. Fiera Capital Corp purchased a new stake in shares of Chevron during the fourth quarter valued at $643,000. Krane Funds Advisors LLC purchased a new stake in shares of Chevron during the fourth quarter valued at $267,000. SouthState Bank Corp boosted its position in shares of Chevron by 2.6% during the fourth quarter. SouthState Bank Corp now owns 102,110 shares of the oil and gas company’s stock valued at $15,563,000 after buying an additional 2,591 shares during the last quarter. Finally, Syon Capital LLC boosted its position in shares of Chevron by 9.9% during the fourth quarter. Syon Capital LLC now owns 19,925 shares of the oil and gas company’s stock valued at $3,037,000 after buying an additional 1,792 shares during the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Trending Headlines about Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Several recent articles highlight Chevron as a durable, low-beta energy name with resilient assets, strong cash flow, and a dependable dividend, which can attract buyers during volatile markets. 4 Best Low-Beta Stocks to Buy Right Away: LQDA, CVX, OXY & VLO
• Positive Sentiment: Chevron has outperformed its industry and sector over the past month, with commentary pointing to dividend growth and 2030 cash flow targets as reasons investors remain constructive. CVX Stock Outpaces Industry in a Month: Should Investors Stay Bullish?
• Positive Sentiment: Oil-stock forecasts remain supportive as conflict-related supply worries keep crude in focus, which tends to benefit Chevron through improved upstream pricing and sector rotation into energy. CVX, XOM and SHEL Forecasts – Oil Stocks in Focus as Conflict Continues
• Positive Sentiment: Street commentary also suggests Chevron is still a long-term hold, with articles calling it an “ultra-safe” dividend stock and saying its long-term prospects remain rosy. Got $3,000? 1 Ultra-Safe Dow Dividend Stock to Buy and Hold Forever
• Neutral Sentiment: Analyst notes show a mixed valuation picture: some targets were lifted modestly, but others say Chevron looks fully valued if oil prices ease, leaving the stock sensitive to commodity assumptions. How The Chevron (CVX) Story Is Shifting With New Analyst Targets And Oil Market Risks
• Negative Sentiment: One recent downgrade argued Chevron could be pressured if an Iran deal or easing geopolitical risk sends oil prices lower, which would reduce the stock’s near-term upside. Chevron Looks Fully Valued As An Iran Deal Could Send Oil Lower (Rating Downgrade)

Chevron Stock Up 0.1%

CVX stock opened at $187.46 on Monday. Chevron Corporation has a fifty-two week low of $138.09 and a fifty-two week high of $214.71. The business’s 50-day moving average is $190.66 and its two-hundred day moving average is $176.97. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.84 and a current ratio of 1.09. The company has a market cap of $373.35 billion, a price-to-earnings ratio of 32.49, a P/E/G ratio of 0.62 and a beta of 0.48.

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, 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 company had revenue of $47.56 billion for the quarter, compared to the consensus estimate of $51.86 billion. During the same quarter in the prior year, the company earned $2.18 earnings per share. Chevron’s revenue was up 2.1% on a year-over-year basis. As a group, analysts forecast that Chevron Corporation will post 15.74 earnings per share for the current year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Shareholders of record on Tuesday, May 19th will be issued a $1.78 dividend. The ex-dividend date of this dividend is Tuesday, May 19th. This represents a $7.12 dividend on an annualized basis and a yield of 3.8%. Chevron’s dividend payout ratio is currently 123.40%.

Insider Transactions at Chevron

In other Chevron news, insider R. Hewitt Pate sold 40,200 shares of the stock in a transaction dated Monday, March 30th. The stock was sold at an average price of $213.30, for a total value of $8,574,660.00. Following the transaction, the insider owned 8,638 shares of the company’s stock, valued at approximately $1,842,485.40. This represents a 82.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John B. Hess sold 380,000 shares of the firm’s stock in a transaction dated 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 directly owned 278,045 shares in the company, valued at $53,718,294. This trade represents a 57.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 615,200 shares of company stock worth $118,022,760. 0.56% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have recently weighed in on CVX shares. Wells Fargo & Company boosted their price objective on shares of Chevron from $204.00 to $222.00 and gave the company an “overweight” rating in a report on Thursday, April 9th. Bank of America boosted 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. Sanford C. Bernstein decreased their price objective on shares of Chevron from $216.00 to $204.00 and set a “market perform” rating for the company in a report on Monday, May 11th. Scotiabank boosted their price objective on shares of Chevron from $168.00 to $187.00 and gave the company a “sector perform” rating in a report on Wednesday, April 22nd. Finally, Tudor Pickering raised shares of Chevron from a “hold” rating to a “buy” rating and set a $225.00 price objective for the company in a report on Thursday, April 9th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $205.70.

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.