Chevron Corporation $CVX Shares Sold by Telos Capital Management Inc.

Telos Capital Management Inc. decreased its stake in shares of Chevron Corporation (NYSE:CVX) by 4.6% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 103,076 shares of the oil and gas company’s stock after selling 4,950 shares during the period. Chevron accounts for 2.0% of Telos Capital Management Inc.’s portfolio, making the stock its 8th largest position. Telos Capital Management Inc.’s holdings in Chevron were worth $21,326,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. Core Wealth Advisors LLC acquired a new stake in Chevron during the fourth quarter worth about $26,000. Phillip James Consulting Co. purchased a new position in shares of Chevron in the 4th quarter worth about $26,000. Basso Capital Management L.P. acquired a new position in shares of Chevron in the 4th quarter valued at about $27,000. Karpus Management Inc. acquired a new position in shares of Chevron in the 4th quarter valued at about $27,000. Finally, Quattro Advisors LLC purchased a new stake in shares of Chevron during the 4th quarter worth about $27,000. 72.42% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Chevron

In other news, insider R. Hewitt Pate sold 40,200 shares of the company’s stock in a transaction on Monday, March 30th. The shares were sold at an average price of $213.30, for a total value of $8,574,660.00. Following the completion of the transaction, the insider directly owned 8,638 shares in the company, valued at approximately $1,842,485.40. This represents a 82.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John B. Hess sold 380,000 shares of the firm’s stock in a transaction on 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 of the company’s stock, valued at approximately $53,718,294. The trade was a 57.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 615,200 shares of company stock valued at $118,022,760 over the last 90 days. Insiders own 0.56% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Sanford C. Bernstein cut their price target on shares of Chevron from $216.00 to $204.00 and set a “market perform” rating on the stock in a report on Monday, May 11th. Mizuho boosted their price objective on shares of Chevron from $225.00 to $230.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 27th. The Goldman Sachs Group reissued a “buy” rating and issued a $216.00 price objective on shares of Chevron in a research report on Wednesday, May 6th. BNP Paribas Exane raised shares of Chevron from a “neutral” rating to an “outperform” rating and set a $174.00 target price on the stock in a research note on Friday, April 17th. Finally, Scotiabank lifted their target price 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. Eighteen research 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. According to MarketBeat, Chevron presently has a consensus rating of “Moderate Buy” and a consensus price target of $205.70.

Chevron Stock Performance

Shares of NYSE:CVX opened at $176.19 on Wednesday. The business’s 50-day simple moving average is $186.07 and its 200 day simple moving average is $179.55. The company has a market cap of $350.90 billion, a P/E ratio of 30.54, a PEG ratio of 0.57 and a beta of 0.48. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.84 and a current ratio of 1.09. Chevron Corporation has a one year low of $142.40 and a one year high of $214.71.

Chevron (NYSE:CVX) last released its quarterly earnings results 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. Chevron had a return on equity of 6.90% and a net margin of 5.79%.The firm had revenue of $47.56 billion during the quarter, compared to analysts’ expectations of $51.86 billion. During the same quarter in the prior year, the business earned $2.18 EPS. Chevron’s quarterly revenue was up 2.1% compared to the same quarter last year. On average, sell-side analysts forecast that Chevron Corporation will post 15.88 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Tuesday, May 19th were given a dividend of $1.78 per share. This represents a $7.12 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date of this dividend was Tuesday, May 19th. Chevron’s payout ratio is presently 123.40%.

Key Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron’s Microsoft deal could create a new long-duration revenue source tied to AI data center growth, improving cash flow stability. Reuters article
• Positive Sentiment: The project may help Chevron monetize excess Permian gas that has faced pipeline bottlenecks and weak regional pricing. Business Wire article
• Neutral Sentiment: Several analysts and commentary pieces said lower crude prices are still a headwind for energy stocks, which may limit upside if oil weakness continues. Kalkine Media article
• Negative Sentiment: One article argued Chevron could be overvalued if crude keeps slipping, noting downside risk versus its recent trading levels. 24/7 Wall St. article

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.