Gateway Wealth Partners LLC Raises Stake in Chevron Corporation $CVX

Gateway Wealth Partners LLC grew its stake in Chevron Corporation (NYSE:CVX) by 622.1% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 12,536 shares of the oil and gas company’s stock after acquiring an additional 10,800 shares during the quarter. Gateway Wealth Partners LLC’s holdings in Chevron were worth $2,594,000 as of its most recent SEC filing.

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

More Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron raised its quarterly dividend, extending its decades-long streak of dividend increases and reinforcing its appeal to income-focused investors. Chevron lifts quarterly dividend
• Positive Sentiment: A Chevron subsidiary awarded Velesto a multiyear, $51 million drilling contract for the North Malay Basin gas development in Malaysia. The agreement supports Chevron’s offshore growth plans, although its direct financial impact is likely modest relative to the company’s overall scale. Chevron North Malay Basin contract
• Neutral Sentiment: CEO Mike Wirth reportedly met with U.S. officials about protecting Chevron’s Kazakhstan oil assets from becoming entangled in the Russia-Ukraine war. The discussions highlight the strategic importance of the assets but also underscore geopolitical and regulatory risks. Chevron Kazakhstan assets discussions
• Negative Sentiment: Brent crude settled 12% lower at $86.49 per barrel, while West Texas Intermediate fell 7.5% to $82.61, after President Trump suggested a potential breakthrough with Iran. Lower oil prices can pressure Chevron’s upstream revenue, cash flow and earnings expectations. Oil prices slide on Iran negotiations
• Negative Sentiment: The broader energy sector also declined as crude prices weakened, while investors favored technology and AI-related stocks ahead of major earnings reports. This sector rotation added to selling pressure on Chevron. Energy sector update

Chevron Stock Down 2.5%

NYSE:CVX opened at $189.84 on Tuesday. Chevron Corporation has a 52 week low of $146.49 and a 52 week high of $214.71. The stock’s fifty day moving average is $181.99 and its two-hundred day moving average is $184.20. The stock has a market capitalization of $378.09 billion, a price-to-earnings ratio of 32.90, a price-to-earnings-growth ratio of 0.65 and a beta of 0.50. The company has a quick ratio of 0.84, a current ratio of 1.09 and a debt-to-equity ratio of 0.21.

Chevron (NYSE:CVX) last issued its quarterly earnings data 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. The business 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 company’s revenue was up 2.1% on a year-over-year basis. During the same period in the previous year, the firm posted $2.18 earnings per share. Research analysts anticipate that Chevron Corporation will post 15.6 EPS for the current year.

Chevron Announces Dividend

The company also recently announced 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. This represents a $7.12 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date was Tuesday, May 19th. Chevron’s dividend payout ratio (DPR) is 123.40%.

Insiders Place Their Bets

In other Chevron 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 sale, the director directly owned 278,045 shares in the company, valued at $53,718,294. This represents a 57.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.56% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. TD Cowen lifted their target price on Chevron from $197.00 to $200.00 and gave the company a “hold” rating in a research report on Wednesday, July 22nd. Wolfe Research upgraded Chevron from a “peer perform” rating to an “outperform” rating and set a $210.00 price target for the company in a report on Thursday, July 2nd. Piper Sandler assumed coverage on Chevron in a research report on Thursday. They set an “overweight” rating and a $207.00 price objective for the company. The Goldman Sachs Group restated a “buy” rating and issued a $216.00 price objective on shares of Chevron in a report on Wednesday, May 6th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $220.00 target price on shares of Chevron in a research report on Tuesday, May 5th. 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $205.17.

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.