Gilpin Wealth Management LLC Acquires New Holdings in Chevron Corporation $CVX

Gilpin Wealth Management LLC acquired a new stake in Chevron Corporation (NYSE:CVX) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 3,974 shares of the oil and gas company’s stock, valued at approximately $606,000.

A number of other large investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in Chevron by 17.9% in the 3rd quarter. Vanguard Group Inc. now owns 183,790,028 shares of the oil and gas company’s stock valued at $28,540,753,000 after acquiring an additional 27,961,463 shares during the last quarter. State Street Corp grew its stake in Chevron by 9.1% in the 3rd quarter. State Street Corp now owns 152,605,988 shares of the oil and gas company’s stock valued at $23,698,184,000 after acquiring an additional 12,789,399 shares during the last quarter. Geode Capital Management LLC grew its stake in Chevron by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 43,613,011 shares of the oil and gas company’s stock valued at $6,620,187,000 after acquiring an additional 134,890 shares during the last quarter. Norges Bank acquired a new stake in Chevron in the 4th quarter valued at about $3,727,586,000. Finally, Northern Trust Corp grew its stake in Chevron by 15.3% in the 3rd quarter. Northern Trust Corp now owns 22,724,515 shares of the oil and gas company’s stock valued at $3,528,890,000 after acquiring an additional 3,007,403 shares during the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

More Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron was highlighted as one of the top oil stocks to buy as energy investors look for resilient names, with articles emphasizing its defensive cash flows and income appeal. Article Title
• Positive Sentiment: Market commentary on Chevron’s Guyana assets pointed to a combined $7.6 billion profit for ExxonMobil and Chevron last year, reinforcing the value of its low-cost production base amid geopolitical tensions. Article Title
• Positive Sentiment: Chevron was also featured in a bullish technical forecast saying momentum is improving and buyers may be regaining control as the stock approaches a breakout level. Article Title
• Positive Sentiment: Reports that Chevron is advancing a major shale project in Argentina’s Vaca Muerta basin and moving closer to approval for a $13.8 billion investment could support future production growth. Article Title
• Neutral Sentiment: Chevron continues to attract attention as a dividend stock for retirement portfolios, which supports the investment case but does not represent a new catalyst. Article Title
• Negative Sentiment: Zacks Research downgraded Chevron from strong-buy to hold, which could temper enthusiasm despite the stock’s otherwise constructive news flow. Article Title

Chevron Price Performance

NYSE:CVX opened at $189.89 on Thursday. The firm has a market cap of $378.19 billion, a price-to-earnings ratio of 32.91, a price-to-earnings-growth ratio of 0.62 and a beta of 0.48. The company has a current ratio of 1.09, a quick ratio of 0.84 and a debt-to-equity ratio of 0.21. The company’s 50-day moving average is $189.38 and its two-hundred day moving average is $177.75. Chevron Corporation has a 12-month low of $142.40 and a 12-month high of $214.71.

Chevron (NYSE:CVX) last released its earnings results 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. The company had revenue of $47.56 billion for the quarter, compared to analyst estimates of $51.86 billion. Chevron had a net margin of 5.79% and a return on equity of 6.90%. The firm’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period in the prior year, the firm earned $2.18 EPS. Research analysts expect that Chevron Corporation will post 15.74 EPS for the current year.

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Tuesday, May 19th were given a $1.78 dividend. The ex-dividend date of this dividend was Tuesday, May 19th. This represents a $7.12 annualized dividend and a dividend yield of 3.7%. Chevron’s dividend payout ratio (DPR) is currently 123.40%.

Insider Activity at Chevron

In related news, insider R. Hewitt Pate sold 40,200 shares of the firm’s stock in a transaction that occurred 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 sale, the insider directly owned 8,638 shares of the company’s stock, valued at approximately $1,842,485.40. This trade represents a 82.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John B. Hess sold 380,000 shares of the firm’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 sale, the director directly 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 SEC filing for this sale provides additional information. Insiders sold 615,200 shares of company stock worth $118,022,760 over the last three months. Corporate insiders own 0.56% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on CVX. Morgan Stanley increased their price objective on shares of Chevron from $212.00 to $214.00 and gave the company an “overweight” rating in a research note on Friday, May 22nd. Bank of America increased their price objective on shares of Chevron from $188.00 to $206.00 and gave the company a “buy” rating in a research note on Monday, March 2nd. UBS Group increased their price objective on shares of Chevron from $218.00 to $220.00 and gave the company a “buy” rating in a research note on Monday, May 4th. Scotiabank upped 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. Finally, HSBC upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $215.00 target price on the stock in a report on Friday, March 20th. Eighteen 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. Based on data from MarketBeat.com, Chevron currently has a consensus rating of “Moderate Buy” and a consensus target price of $205.70.

About Chevron

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.