Lmcg Investments LLC Raises Stock Position in Chevron Corporation $CVX

Lmcg Investments LLC grew its stake in Chevron Corporation (NYSE:CVX) by 4.6% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 114,597 shares of the oil and gas company’s stock after purchasing an additional 5,027 shares during the quarter. Chevron comprises about 1.4% of Lmcg Investments LLC’s holdings, making the stock its 16th biggest holding. Lmcg Investments LLC’s holdings in Chevron were worth $23,710,000 as of its most recent filing with the Securities and Exchange Commission.

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

Key Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron stock is benefiting from a jump in oil prices, which boosts expected upstream earnings and improves sentiment across the energy sector. Why Is Chevron Stock Gaining Wednesday?
• Positive Sentiment: Rising geopolitical tensions and the unraveling of the U.S.–Iran ceasefire have pushed crude and risk premiums higher, giving integrated oil names like Chevron a lift. Ceasefire Cracks, Oil Bounces: Why Exxon, Chevron Stocks Are Hot Again
• Positive Sentiment: Chevron announced it will offer rival drillers access to its chemical technology to help boost shale output, reinforcing its role in U.S. energy production and potentially creating a new commercialization opportunity. Chevron offers rival drillers its chemical technology to boost shale oil output
• Positive Sentiment: Chevron remains in focus for investors seeking dependable income, with articles highlighting its attractive dividend yield and its status as a preferred blue-chip energy holding. Chevron (CVX) – Among the 14 Best Blue Chip Dividend Stocks to Buy According to Hedge Funds
• Neutral Sentiment: Market commentary also notes Chevron’s stock has held up despite recent index removal and continuing debate over valuation, Guyana growth, and cash-flow durability. Chevron (CVX) Following Index Removal And Guyana Upgrades, Is The Valuation Case Intact?
• Neutral Sentiment: Coverage around Chevron’s AI-related energy demand exposure and a new technology licensing agreement with ZL Chemicals adds longer-term strategic interest, but these headlines are less likely to drive near-term trading than oil prices. Chevron (NYSE:CVX) Powers AI Demand Across Energy Markets Chevron, ZL Chemicals sign technology licensing agreement
• Negative Sentiment: Chevron also faced a negative operational headline after one of its tankers used for CPC shipments was reportedly hit by a drone in the Black Sea, which could raise transportation and geopolitical risk concerns. Chevron tanker used for CPC oil hit by drone in Black Sea

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. The Goldman Sachs Group restated a “buy” rating and issued a $216.00 target price on shares of Chevron in a research note on Wednesday, May 6th. Zacks Research downgraded Chevron from a “strong-buy” rating to a “hold” rating in a report on Monday, June 8th. HSBC raised Chevron from a “hold” rating to a “buy” rating and set a $215.00 price objective for the company in a research report on Friday, March 20th. Citigroup boosted their target price on shares of Chevron from $210.00 to $235.00 and gave the company a “buy” rating in a report on Thursday, April 2nd. Finally, Weiss Ratings downgraded shares of Chevron from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, June 2nd. Nineteen research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $205.71.

Insider Activity

In related news, Director John B. Hess sold 380,000 shares of the company’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $193.20, for a total value of $73,416,000.00. Following the transaction, the director owned 278,045 shares in the company, valued at $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 is available at this hyperlink. 0.56% of the stock is currently owned by corporate insiders.

Chevron Stock Performance

Chevron stock opened at $175.89 on Thursday. Chevron Corporation has a twelve month low of $146.49 and a twelve month high of $214.71. The company has a quick ratio of 0.84, a current ratio of 1.09 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $350.31 billion, a P/E ratio of 30.48, a PEG ratio of 0.59 and a beta of 0.50. The stock’s 50 day moving average is $182.51 and its 200 day moving average is $181.14.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, May 1st. The oil and gas company reported $1.41 earnings per share (EPS) 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 business had revenue of $47.56 billion during the quarter, compared to analysts’ expectations of $51.86 billion. During the same quarter in the previous year, the business earned $2.18 earnings per share. The firm’s quarterly revenue was up 2.1% compared to the same quarter last year. On average, equities research analysts predict that Chevron Corporation will post 15.28 earnings per share 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 given a $1.78 dividend. This represents a $7.12 annualized dividend and a dividend yield of 4.0%. The ex-dividend date of this dividend was Tuesday, May 19th. Chevron’s payout ratio is currently 123.40%.

Chevron 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.