Segall Bryant & Hamill LLC Acquires 39,443 Shares of Chevron Corporation $CVX

Segall Bryant & Hamill LLC grew its holdings in shares of Chevron Corporation (NYSE:CVX) by 22.5% during the 1st quarter, HoldingsChannel reports. The fund owned 215,063 shares of the oil and gas company’s stock after acquiring an additional 39,443 shares during the quarter. Segall Bryant & Hamill LLC’s holdings in Chevron were worth $44,497,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in CVX. Curtis Advisory Group LLC bought a new position in shares of Chevron during the fourth quarter valued at about $1,381,000. Indivisible Partners bought a new stake in shares of Chevron in the 4th quarter valued at about $1,923,000. Janney Montgomery Scott LLC boosted its holdings in Chevron by 6.8% during the 1st quarter. Janney Montgomery Scott LLC now owns 1,251,102 shares of the oil and gas company’s stock valued at $258,853,000 after acquiring an additional 79,439 shares during the period. Galaxy Digital Inc. purchased a new stake in Chevron during the 1st quarter valued at about $2,028,000. Finally, Nations Financial Group Inc. IA ADV grew its position in Chevron by 35.0% during the 4th quarter. Nations Financial Group Inc. IA ADV now owns 42,882 shares of the oil and gas company’s stock worth $6,536,000 after acquiring an additional 11,120 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors.

Chevron Stock Up 2.5%

NYSE CVX opened at $197.10 on Friday. Chevron Corporation has a 1 year low of $146.49 and a 1 year high of $214.71. The stock has a market capitalization of $392.55 billion, a PE ratio of 34.16, a PEG ratio of 0.60 and a beta of 0.50. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.09 and a quick ratio of 0.84. The business’s 50-day moving average is $181.95 and its 200 day moving average is $184.96.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, July 31st. The oil and gas company reported $6.06 EPS for the quarter, beating analysts’ consensus estimates of $5.55 by $0.51. Chevron had a return on equity of 6.90% and a net margin of 5.79%.The business had revenue of $67.20 billion during the quarter, compared to analyst estimates of $62.72 billion. During the same quarter in the prior year, the company posted $1.77 EPS. Chevron’s quarterly revenue was up 57.4% compared to the same quarter last year. Sell-side analysts forecast that Chevron Corporation will post 15.64 earnings per share for the current year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th will be paid a dividend of $1.78 per share. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $7.12 annualized dividend and a dividend yield of 3.6%. Chevron’s payout ratio is 123.40%.

Key Headlines Impacting Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Strong earnings beat: Chevron reported adjusted earnings of $12.0 billion, or $6.06 per diluted share, versus analysts’ expectation of $5.55. Reported earnings reached $12.1 billion, the company’s highest quarterly profit in at least six years, while revenue rose 57.4% year over year to $67.2 billion. Chevron records highest quarterly profit in six years, tops estimates
• Positive Sentiment: Higher production and refining performance: Global oil-equivalent production increased 20% to 4.07 million barrels per day, supported by Hess-related assets, the Permian Basin and the Gulf of America. Record U.S. production, strong refining margins and near-full-capacity operations boosted results. CVX Q2 Earnings Beat on Higher Output and Strong Refining Margins
• Positive Sentiment: Excellent cash generation and growth opportunities: Operating cash flow was $22.6 billion, and Chevron maintained its $1.78 quarterly dividend. Management also highlighted expansion plans involving Iraq, Venezuela, Argentina and a 20-year power agreement to supply a Microsoft data center. Chevron CFO on second-quarter earnings, growth plan and Iraq accord
• Neutral Sentiment: Energy-sector tailwind: Rising crude, gasoline and diesel prices, driven by Middle East supply disruptions, lifted Chevron and other integrated oil companies and supported broader energy ETFs. Supermajor Earnings: Exxon and Chevron’s Impact on ETF Market
• Negative Sentiment: Geopolitical and valuation risks remain: Chevron said the conflict reduced output in the Saudi Arabia–Kuwait Partitioned Zone. Executives also warned of escalating supply risks, while potential gasoline-price interventions or windfall taxes could pressure future profits. Analysts noted that some of the earnings improvement may already be reflected in the stock price. Chevron’s Strong Quarter Shows Why It Still Leads the Energy Sector

Wall Street Analyst Weigh In

A number of brokerages have commented on CVX. Tudor Pickering raised Chevron from a “hold” rating to a “buy” rating and set a $225.00 price target on the stock in a research note on Thursday, April 9th. Zacks Research lowered Chevron from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 8th. Royal Bank Of Canada restated an “outperform” rating and issued a $220.00 target price on shares of Chevron in a report on Tuesday, May 5th. Wells Fargo & Company lifted their target price on shares of Chevron from $204.00 to $222.00 and gave the stock an “overweight” rating in a research note on Thursday, April 9th. Finally, The Goldman Sachs Group reiterated a “buy” rating and set a $216.00 price target on shares of Chevron in a report on Wednesday, May 6th. Eighteen equities 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’s stock. Based on data from MarketBeat.com, Chevron has a consensus rating of “Moderate Buy” and a consensus target price of $207.17.

Insider Activity

In related news, Director John B. Hess sold 380,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $193.20, for a total transaction of $73,416,000.00. Following the completion of the transaction, the director 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 legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.56% of the company’s stock.

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.