White Pine Investment CO Sells 2,911 Shares of Chevron Corporation $CVX

White Pine Investment CO reduced its position in Chevron Corporation (NYSE:CVX) by 7.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 35,967 shares of the oil and gas company’s stock after selling 2,911 shares during the quarter. Chevron accounts for approximately 1.7% of White Pine Investment CO’s holdings, making the stock its 27th biggest holding. White Pine Investment CO’s holdings in Chevron were worth $7,441,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in CVX. Dakota Wealth Management raised its position in Chevron by 14.9% during the 4th quarter. Dakota Wealth Management now owns 83,265 shares of the oil and gas company’s stock valued at $12,690,000 after purchasing an additional 10,822 shares in the last quarter. Brooklyn FI LLC bought a new position in shares of Chevron during the 3rd quarter worth $431,000. Clear Trail Advisors LLC purchased a new position in shares of Chevron during the fourth quarter valued at $10,167,000. Finemark National Bank & Trust raised its holdings in shares of Chevron by 40.3% in the third quarter. Finemark National Bank & Trust now owns 56,535 shares of the oil and gas company’s stock valued at $8,779,000 after acquiring an additional 16,243 shares in the last quarter. Finally, Curtis Advisory Group LLC bought a new stake in shares of Chevron in the fourth quarter valued at about $1,381,000. Institutional investors own 72.42% of the company’s stock.

Chevron Price Performance

Shares of CVX opened at $172.19 on Friday. The company has a market cap of $342.93 billion, a price-to-earnings ratio of 29.84, a price-to-earnings-growth ratio of 0.56 and a beta of 0.48. Chevron Corporation has a twelve month low of $142.40 and a twelve month high of $214.71. The company has a quick ratio of 0.84, a current ratio of 1.09 and a debt-to-equity ratio of 0.21. The company has a 50 day moving average of $185.38 and a two-hundred day moving average of $179.84.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, May 1st. The oil and gas company reported $1.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.00 by $0.41. Chevron had a return on equity of 6.90% and a net margin of 5.79%.The business had revenue of $47.56 billion for the quarter, compared to the consensus estimate of $51.86 billion. During the same period in the prior year, the firm posted $2.18 earnings per share. The business’s quarterly revenue was up 2.1% on a year-over-year basis. As a group, analysts predict that Chevron Corporation will post 15.88 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Tuesday, May 19th were paid a dividend of $1.78 per share. This represents a $7.12 annualized dividend and a yield of 4.1%. The ex-dividend date was Tuesday, May 19th. Chevron’s payout ratio is 123.40%.

Insider Activity

In related news, Director John B. Hess sold 380,000 shares of the company’s stock in a transaction dated 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 directly owned 278,045 shares of the company’s stock, valued at $53,718,294. This represents a 57.75% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider R. Hewitt Pate sold 40,200 shares of the firm’s stock in a transaction dated 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 sale, the insider directly owned 8,638 shares of the company’s stock, valued at approximately $1,842,485.40. This represents a 82.31% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 615,200 shares of company stock worth $118,022,760 over the last ninety days. 0.56% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on CVX. Barclays upped their price objective on shares of Chevron from $192.00 to $213.00 and gave the stock an “equal weight” rating in a research note on Tuesday, May 26th. BNP Paribas Exane upgraded shares of Chevron from a “neutral” rating to an “outperform” rating and set a $174.00 price target for the company in a report on Friday, April 17th. Wells Fargo & Company upped their price target on shares of Chevron from $204.00 to $222.00 and gave the stock an “overweight” rating in a research report on Thursday, April 9th. TD Cowen increased their price objective on shares of Chevron from $204.00 to $205.00 and gave the company a “hold” rating in a research note on Friday, May 8th. Finally, UBS Group reissued a “buy” rating on shares of Chevron in a research note on Tuesday. Eighteen 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, the stock has an average rating of “Moderate Buy” and an average target price of $205.70.

Key Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron’s 20-year deal to supply natural gas for Microsoft’s West Texas AI data center strengthens the company’s role in the AI power buildout and could provide a durable new demand source for Permian gas. Chevron, Microsoft deal fuels West Texas data center expansion
• Positive Sentiment: Market coverage highlights Chevron’s Microsoft partnership as a potential growth platform, with investors increasingly treating natural gas power for AI data centers as a new opportunity for the company. Microsoft Solves AI’s Biggest Bottleneck With Chevron Deal (CVX)
• Neutral Sentiment: Chevron said operations in Venezuela continue after the earthquake, suggesting no immediate disruption there, but the update does not appear to be a major stock-moving development. Update: Market Chatter: Chevron Says Operations in Venezuela Continue After Earthquake
• Negative Sentiment: Trump’s announcement that Exxon Mobil and Chevron are being probed over gasoline pricing has created regulatory overhang and weighed on Big Oil sentiment. Trump says Exxon, Chevron among firms probed as part of surge in gas prices
• Negative Sentiment: Chevron’s CFO acknowledged gasoline prices should ease but warned the pass-through from lower crude prices will take time, reinforcing near-term pressure from public and political scrutiny. Chevron CFO says gas prices will normalize after Trump presses Big Oil

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.