Godsey & Gibb Inc. Buys 11,503 Shares of Chevron Corporation $CVX

Godsey & Gibb Inc. increased its stake in shares of Chevron Corporation (NYSE:CVX) by 8.5% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 147,318 shares of the oil and gas company’s stock after purchasing an additional 11,503 shares during the period. Chevron accounts for approximately 2.7% of Godsey & Gibb Inc.’s investment portfolio, making the stock its 6th biggest position. Godsey & Gibb Inc.’s holdings in Chevron were worth $30,480,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CVX. Consilium Wealth Advisory LLC boosted its holdings in Chevron by 30.4% in the 1st quarter. Consilium Wealth Advisory LLC now owns 7,517 shares of the oil and gas company’s stock worth $1,555,000 after buying an additional 1,753 shares during the last quarter. Focused Wealth Management Inc raised its holdings in shares of Chevron by 9.6% during the first quarter. Focused Wealth Management Inc now owns 2,255 shares of the oil and gas company’s stock valued at $467,000 after acquiring an additional 198 shares during the last quarter. Miller Howard Investments Inc. NY raised its holdings in shares of Chevron by 3.8% during the first quarter. Miller Howard Investments Inc. NY now owns 11,009 shares of the oil and gas company’s stock valued at $2,278,000 after acquiring an additional 408 shares during the last quarter. Kercheville Advisors LLC lifted its position in shares of Chevron by 3.8% in the first quarter. Kercheville Advisors LLC now owns 9,178 shares of the oil and gas company’s stock valued at $1,899,000 after acquiring an additional 340 shares in the last quarter. Finally, Keudell Morrison Wealth Management lifted its position in shares of Chevron by 5.2% in the first quarter. Keudell Morrison Wealth Management now owns 18,607 shares of the oil and gas company’s stock valued at $3,850,000 after acquiring an additional 920 shares in the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Key Headlines Impacting Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron’s 20-year deal to supply natural gas for Microsoft’s West Texas AI data center strengthens the company’s role in the AI power buildout and could provide a durable new demand source for Permian gas. Chevron, Microsoft deal fuels West Texas data center expansion
• Positive Sentiment: Market coverage highlights Chevron’s Microsoft partnership as a potential growth platform, with investors increasingly treating natural gas power for AI data centers as a new opportunity for the company. Microsoft Solves AI’s Biggest Bottleneck With Chevron Deal (CVX)
• Neutral Sentiment: Chevron said operations in Venezuela continue after the earthquake, suggesting no immediate disruption there, but the update does not appear to be a major stock-moving development. Update: Market Chatter: Chevron Says Operations in Venezuela Continue After Earthquake
• Negative Sentiment: Trump’s announcement that Exxon Mobil and Chevron are being probed over gasoline pricing has created regulatory overhang and weighed on Big Oil sentiment. Trump says Exxon, Chevron among firms probed as part of surge in gas prices
• Negative Sentiment: Chevron’s CFO acknowledged gasoline prices should ease but warned the pass-through from lower crude prices will take time, reinforcing near-term pressure from public and political scrutiny. Chevron CFO says gas prices will normalize after Trump presses Big Oil

Analysts Set New Price Targets

Several analysts recently commented on the company. Scotiabank boosted their price target on Chevron from $168.00 to $187.00 and gave the stock a “sector perform” rating in a research report on Wednesday, April 22nd. Barclays raised their price objective on Chevron from $192.00 to $213.00 and gave the company an “equal weight” rating in a report on Tuesday, May 26th. Citigroup lifted their target price on shares of Chevron from $210.00 to $235.00 and gave the stock a “buy” rating in a research note on Thursday, April 2nd. Piper Sandler upped their target price on shares of Chevron from $179.00 to $242.00 and gave the stock an “overweight” rating in a report on Thursday, March 12th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and issued a $220.00 target price on shares of Chevron in a research report on Tuesday, May 5th. Eighteen equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $205.70.

Chevron Price Performance

NYSE:CVX opened at $172.19 on Friday. Chevron Corporation has a one year low of $142.40 and a one year high of $214.71. 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 stock has a market cap of $342.93 billion, a PE ratio of 29.84, a P/E/G ratio of 0.56 and a beta of 0.48. The stock has a 50 day moving average price of $185.38 and a 200 day moving average price of $179.84.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, May 1st. The oil and gas company reported $1.41 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $0.41. The company had revenue of $47.56 billion for the quarter, compared to analyst estimates of $51.86 billion. Chevron had a return on equity of 6.90% and a net margin of 5.79%.The firm’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.18 earnings per share. Equities research analysts expect that Chevron Corporation will post 15.88 EPS for the current fiscal year.

Chevron Dividend Announcement

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

Insider Buying and Selling at Chevron

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

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.