Logan Capital Management Inc. Lowers Holdings in Chevron Corporation $CVX

Logan Capital Management Inc. lowered its holdings in Chevron Corporation (NYSE:CVX) by 10.9% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 135,575 shares of the oil and gas company’s stock after selling 16,572 shares during the period. Chevron makes up 0.9% of Logan Capital Management Inc.’s holdings, making the stock its 25th biggest holding. Logan Capital Management Inc.’s holdings in Chevron were worth $20,663,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in CVX. Core Wealth Advisors LLC acquired a new position in shares of Chevron in the fourth quarter worth $26,000. Strategic Wealth Advisors LLC purchased a new position in Chevron in the fourth quarter valued at $33,000. Daytona Street Capital LLC acquired a new position in Chevron during the 4th quarter worth $44,000. Maseco LLP purchased a new stake in Chevron during the 4th quarter worth about $49,000. Finally, Turning Point Benefit Group Inc. purchased a new stake in shares of Chevron during the third quarter worth approximately $49,000. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Chevron Stock Down 2.1%

Shares of Chevron stock opened at $185.81 on Friday. The company has a market cap of $370.05 billion, a P/E ratio of 32.20, a PEG ratio of 0.63 and a beta of 0.48. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.84 and a current ratio of 1.09. Chevron Corporation has a one year low of $142.40 and a one year high of $214.71. The firm has a fifty day moving average of $188.96 and a two-hundred day moving average of $178.00.

Chevron (NYSE:CVX) last issued its earnings results on Friday, May 1st. The oil and gas company reported $1.41 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.41. Chevron had a net margin of 5.79% and a return on equity of 6.90%. The business had revenue of $47.56 billion for the quarter, compared to the consensus estimate of $51.86 billion. During the same quarter in the previous year, the firm earned $2.18 earnings per share. The business’s quarterly revenue was up 2.1% compared to the same quarter last year. On average, analysts forecast that Chevron Corporation will post 15.74 earnings per share for the current year.

Chevron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Tuesday, May 19th were issued a $1.78 dividend. This represents a $7.12 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date of this dividend was Tuesday, May 19th. Chevron’s payout ratio is currently 123.40%.

Insider Activity at Chevron

In related news, Director John B. Hess sold 380,000 shares of the company’s stock in a transaction 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 transaction, the director owned 278,045 shares of the company’s stock, 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 SEC, which is available at this link. Also, insider R. Hewitt Pate sold 40,200 shares of the stock in a transaction on Monday, March 30th. The stock was sold at an average price of $213.30, for a total value of $8,574,660.00. Following the completion of the transaction, the insider owned 8,638 shares of the company’s stock, valued at $1,842,485.40. The trade was a 82.31% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 615,200 shares of company stock worth $118,022,760 in the last quarter. 0.56% of the stock is currently owned by insiders.

Key Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron’s Tengiz project expansion is being highlighted as a major growth driver, with output capacity rising to 1 million BOE/d and the asset expected to support cash flow, production growth and shareholder returns through 2030. How Investment in TCO Is Powering Chevron’s Next Wave of Cash Growth
• Positive Sentiment: Analysts at Erste Group raised FY2027 EPS estimates for Chevron, signaling slightly better earnings expectations ahead.
• Positive Sentiment: Chevron was cited among oil stocks benefiting from higher crude prices and geopolitical tensions, which can improve upstream margins and near-term cash generation. Chevron Corporation (CVX) Benefited from Escalating Conflict in Iran
• Positive Sentiment: Market commentary and technical analysis described Chevron as showing relative strength, with bullish signals building toward a potential breakout. Chevron (CVX) Price Forecast: Bullish Signals Build Toward Breakout
• Neutral Sentiment: Chevron’s CFO was featured discussing how the finance team is using AI, which is more of a strategic/operations story than a direct stock-moving catalyst. Chevron’s CFO on why finance chiefs are defining AI’s business value
• Neutral Sentiment: Recent coverage also noted Chevron as a dividend and value-name favorite, reinforcing its defensive income appeal rather than changing the core investment thesis.
• Negative Sentiment: Zacks Research downgraded Chevron from strong-buy to hold, which may have added some pressure to the shares.

Analyst Ratings Changes

Several research analysts have commented on the stock. Royal Bank Of Canada reiterated an “outperform” rating and set a $220.00 price target on shares of Chevron in a report on Tuesday, May 5th. UBS Group boosted their target price on shares of Chevron from $218.00 to $220.00 and gave the stock a “buy” rating in a research note on Monday, May 4th. Mizuho increased their target price on Chevron from $225.00 to $230.00 and gave the company an “outperform” rating in a report on Wednesday, May 27th. Bank of America raised their price target on Chevron from $188.00 to $206.00 and gave the company a “buy” rating in a research note on Monday, March 2nd. Finally, Sanford C. Bernstein lowered their price objective on Chevron from $216.00 to $204.00 and set a “market perform” rating for the company in a research report on Monday, May 11th. Eighteen 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. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average 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.