Staley Capital Advisers Inc. Trims Position in Chevron Corporation $CVX

Staley Capital Advisers Inc. trimmed its stake in Chevron Corporation (NYSE:CVX) by 2.1% in the first quarter, HoldingsChannel.com reports. The firm owned 389,993 shares of the oil and gas company’s stock after selling 8,373 shares during the period. Chevron accounts for about 3.4% of Staley Capital Advisers Inc.’s investment portfolio, making the stock its 7th largest holding. Staley Capital Advisers Inc.’s holdings in Chevron were worth $80,689,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Frank Rimerman Advisors LLC boosted its position in shares of Chevron by 5.4% during the 1st quarter. Frank Rimerman Advisors LLC now owns 35,611 shares of the oil and gas company’s stock valued at $7,368,000 after purchasing an additional 1,837 shares in the last quarter. Quantum Portfolio Management LLC increased its stake in shares of Chevron by 2.7% in the 1st quarter. Quantum Portfolio Management LLC now owns 2,101 shares of the oil and gas company’s stock valued at $435,000 after acquiring an additional 56 shares in the last quarter. Lmcg Investments LLC lifted its position in shares of Chevron by 4.6% during the 1st quarter. Lmcg Investments LLC now owns 114,597 shares of the oil and gas company’s stock valued at $23,710,000 after acquiring an additional 5,027 shares during the period. Penobscot Investment Management Company Inc. grew its holdings in Chevron by 1.3% in the first quarter. Penobscot Investment Management Company Inc. now owns 40,095 shares of the oil and gas company’s stock worth $8,296,000 after purchasing an additional 507 shares during the period. Finally, Virginia Wealth Management Group Inc. increased its stake in Chevron by 35.6% in the first quarter. Virginia Wealth Management Group Inc. now owns 34,839 shares of the oil and gas company’s stock valued at $7,208,000 after purchasing an additional 9,155 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Insider Buying and Selling

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 value of $73,416,000.00. Following the transaction, the director directly owned 278,045 shares in the company, valued at $53,718,294. The trade was a 57.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.56% of the company’s stock.

Chevron Stock Up 1.1%

CVX stock opened at $175.89 on Thursday. The stock’s fifty day simple moving average is $182.51 and its two-hundred day simple moving average is $181.14. The company has a current ratio of 1.09, a quick ratio of 0.84 and a debt-to-equity ratio of 0.21. Chevron Corporation has a 1-year low of $146.49 and a 1-year high of $214.71. The stock has a market cap of $350.31 billion, a P/E ratio of 30.48, a P/E/G ratio of 0.59 and a beta of 0.50.

Chevron (NYSE:CVX) last announced its earnings results on Friday, May 1st. The oil and gas company reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.41. The firm had revenue of $47.56 billion during 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 business’s revenue was up 2.1% compared to the same quarter last year. During the same period last year, the firm posted $2.18 EPS. Analysts expect that Chevron Corporation will post 15.28 EPS for the current year.

Chevron Dividend Announcement

The business also recently disclosed 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 4.0%. The ex-dividend date was Tuesday, May 19th. Chevron’s dividend payout ratio (DPR) is 123.40%.

Trending Headlines about Chevron

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 Analysts Forecast Growth

Several brokerages have recently commented on CVX. Zacks Research downgraded Chevron from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 8th. Weiss Ratings cut Chevron from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, June 2nd. TD Cowen upped their target price on shares of Chevron from $204.00 to $205.00 and gave the stock a “hold” rating in a research note on Friday, May 8th. The Goldman Sachs Group reissued a “buy” rating and set a $216.00 price target on shares of Chevron in a research report on Wednesday, May 6th. Finally, 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. Nineteen equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $205.71.

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.