Kimelman & Baird LLC Acquires 2,993 Shares of Chevron Corporation $CVX

Kimelman & Baird LLC increased its holdings in Chevron Corporation (NYSE:CVX) by 7.9% during the third quarter, HoldingsChannel reports. The fund owned 40,653 shares of the oil and gas company’s stock after acquiring an additional 2,993 shares during the quarter. Kimelman & Baird LLC’s holdings in Chevron were worth $6,313,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Decker Retirement Planning Inc. bought a new stake in Chevron during the 3rd quarter worth approximately $34,000. Vermillion & White Wealth Management Group LLC lifted its holdings in shares of Chevron by 86.1% in the second quarter. Vermillion & White Wealth Management Group LLC now owns 255 shares of the oil and gas company’s stock valued at $37,000 after purchasing an additional 118 shares in the last quarter. Marquette Asset Management LLC bought a new position in shares of Chevron in the third quarter valued at approximately $41,000. Barnes Dennig Private Wealth Management LLC boosted its position in shares of Chevron by 306.1% during the third quarter. Barnes Dennig Private Wealth Management LLC now owns 268 shares of the oil and gas company’s stock valued at $42,000 after buying an additional 202 shares during the last quarter. Finally, Turning Point Benefit Group Inc. purchased a new position in shares of Chevron during the third quarter valued at approximately $49,000. Institutional investors own 72.42% of the company’s stock.

Chevron Stock Performance

Shares of Chevron stock opened at $198.54 on Thursday. The business’s fifty day simple moving average is $179.68 and its 200 day simple moving average is $162.85. The company has a current ratio of 1.15, a quick ratio of 0.86 and a debt-to-equity ratio of 0.21. Chevron Corporation has a 12 month low of $132.04 and a 12 month high of $200.73. The firm has a market capitalization of $396.16 billion, a P/E ratio of 29.81, a price-to-earnings-growth ratio of 1.83 and a beta of 0.67.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, January 30th. The oil and gas company reported $1.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.44 by $0.08. Chevron had a return on equity of 7.89% and a net margin of 6.51%.The firm had revenue of $45.79 billion during the quarter, compared to the consensus estimate of $48.18 billion. During the same quarter in the prior year, the company earned $2.06 EPS. The business’s revenue for the quarter was down 10.2% on a year-over-year basis. As a group, analysts anticipate that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 10th. Investors of record on Tuesday, February 17th were issued a dividend of $1.78 per share. This represents a $7.12 dividend on an annualized basis and a yield of 3.6%. This is a boost from Chevron’s previous quarterly dividend of $1.71. The ex-dividend date was Tuesday, February 17th. Chevron’s dividend payout ratio is 106.91%.

Key Headlines Impacting Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Progress on new upstream opportunities — Chevron is reported to be pursuing a deal in Venezuela that could meaningfully expand production if completed; this would be a long?term growth lever for CVX. Could an Oil Deal in Venezuela Boost Chevron’s Stock?
• Positive Sentiment: Downstream expansion in Brazil — CVX is in advanced talks to buy a ~30% stake in Ultrapar’s Ipiranga retail unit, which would boost retail and refining exposure in a fast?growing market. Chevron in Advanced Negotiations to Buy 30% Stake in Ipiranga
• Positive Sentiment: Analyst support and price-target lifts — Mizuho raised its target and flagged an outperform view; Barclays also published a bullish forecast, both supporting upside to the shares. Mizuho price-target raise / Benzinga Barclays Forecasts Strong Price Appreciation for Chevron
• Positive Sentiment: Dividend durability and fund inclusion — Chevron extended its long dividend-growth streak and remains a core holding in high?yield/dividend funds, supporting investor demand for the stock. Is Chevron Balancing Dividend Strength With Rising Geopolitical Risk?
• Neutral Sentiment: Macro/commodity attention — Retail and analyst interest has CVX trending; Zacks and other outlets summarized fundamentals and positioning but offered no new catalyst beyond market interest. Chevron Is a Trending Stock (Zacks)
• Neutral Sentiment: Oil-price drivers — Rising WTI/Brent on Strait of Hormuz shipping uncertainty supports oil majors generally but also raises volatility risk; this is a market tailwind for CVX earnings but not company?specific. Oil jumps over 2% as doubts linger over U.S.-backed plan to protect Strait of Hormuz shipping
• Negative Sentiment: Reputational/regulatory risk — WSJ reporting about past dealings involving an ex?Chevron executive with U.S. intelligence raises governance and reputational questions that could attract regulatory or political scrutiny. Takeaways From WSJ Reporting on the CIA’s Dealings With an Ex-Chevron Executive
• Negative Sentiment: Compliance settlement — Chevron recently agreed to a settlement related to invalid renewable fuel credits; while not huge on the numbers, such items add headline risk and could affect ESG-focused investors. Is Chevron Balancing Dividend Strength With Rising Geopolitical Risk?

Insider Buying and Selling at Chevron

In other news, CEO Michael K. Wirth sold 272,624 shares of the stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $189.35, for a total transaction of $51,621,354.40. Following the completion of the transaction, the chief executive officer directly owned 31,266 shares of the company’s stock, valued at $5,920,217.10. This represents a 89.71% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider R. Hewitt Pate sold 47,200 shares of the firm’s stock in a transaction that occurred on Friday, March 6th. The stock was sold at an average price of $192.12, for a total transaction of $9,068,064.00. Following the sale, the insider owned 8,558 shares of the company’s stock, valued at approximately $1,644,162.96. The trade was a 84.65% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 1,099,397 shares of company stock valued at $196,196,468 in the last three months. 0.21% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

CVX has been the subject of a number of analyst reports. BMO Capital Markets reissued an “outperform” rating and issued a $190.00 price target on shares of Chevron in a research report on Monday, February 2nd. Morgan Stanley cut their price objective on shares of Chevron from $180.00 to $174.00 and set an “overweight” rating on the stock in a report on Friday, January 23rd. Jefferies Financial Group upped their target price on shares of Chevron from $174.00 to $189.00 and gave the stock a “buy” rating in a research note on Wednesday, January 14th. Sanford C. Bernstein increased their target price on shares of Chevron from $170.00 to $172.00 and gave the company a “market perform” rating in a report on Monday, January 5th. Finally, Argus set a $203.00 price target on shares of Chevron in a research report on Tuesday, February 3rd. Thirteen investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $183.18.

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.