Compound Planning Inc. Purchases 3,087 Shares of Chevron Corporation $CVX

Compound Planning Inc. grew its position in shares of Chevron Corporation (NYSE:CVX) by 7.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 44,996 shares of the oil and gas company’s stock after buying an additional 3,087 shares during the period. Compound Planning Inc.’s holdings in Chevron were worth $9,310,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Midwest Capital Advisors LLC bought a new stake in Chevron in the 1st quarter valued at about $25,000. Core Wealth Advisors LLC bought a new position in Chevron during the fourth quarter worth about $26,000. Phillip James Consulting Co. bought a new position in Chevron during the fourth quarter worth about $26,000. Basso Capital Management L.P. purchased a new position in shares of Chevron in the fourth quarter worth about $27,000. Finally, Karpus Management Inc. purchased a new position in shares of Chevron in the fourth quarter worth about $27,000. Institutional investors own 72.42% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on CVX. Wolfe Research upgraded shares of Chevron from a “peer perform” rating to an “outperform” rating and set a $210.00 price target on the stock in a research note on Thursday, July 2nd. BNP Paribas Exane upgraded shares of Chevron from a “neutral” rating to an “outperform” rating and set a $174.00 price objective for the company in a research note on Friday, April 17th. Zacks Research cut shares of Chevron from a “strong-buy” rating to a “hold” rating in a report on Monday, June 8th. Citigroup increased their target price on Chevron from $210.00 to $235.00 and gave the stock a “buy” rating in a research report on Thursday, April 2nd. Finally, Weiss Ratings cut Chevron from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, June 2nd. Nineteen equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Chevron currently has a consensus rating of “Moderate Buy” and an average price target of $205.17.

Chevron Price Performance

CVX stock opened at $194.39 on Friday. The firm has a 50 day moving average of $182.04 and a 200-day moving average of $183.75. The company has a current ratio of 1.09, a quick ratio of 0.84 and a debt-to-equity ratio of 0.21. Chevron Corporation has a 12 month low of $146.49 and a 12 month high of $214.71. The firm has a market capitalization of $387.15 billion, a P/E ratio of 33.69, a price-to-earnings-growth ratio of 0.68 and a beta of 0.50.

Chevron (NYSE:CVX) last posted its earnings results on Friday, May 1st. The oil and gas company reported $1.41 earnings per share for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $51.86 billion. During the same quarter in the prior year, the firm posted $2.18 EPS. Chevron’s revenue was up 2.1% on a year-over-year basis. As a group, sell-side analysts predict that Chevron Corporation will post 14.75 earnings per share for the current fiscal year.

Chevron Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Tuesday, May 19th were given a dividend of $1.78 per share. This represents a $7.12 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date was Tuesday, May 19th. Chevron’s payout ratio is 123.40%.

More Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Piper Sandler initiated coverage on Chevron as the only global oil major with an outperform rating, a constructive signal versus peers. Chevron only outperform-rated name among global oil majors initiated at Piper Sandler
• Positive Sentiment: Oil prices surged above $100 a barrel intraday amid geopolitical tensions, which should improve Chevron’s realized prices and near-term earnings prospects. BATL, CVX, XOM Stocks Rise As Brent Crude Tops $100 – Trump Threatens Iran With ‘Major Military Punishment’ After Houthi Attack On Saudi Ships
• Positive Sentiment: Chevron was highlighted as an outperformer among dividend and integrated energy names, reinforcing its appeal as a defensive income stock in a stronger oil market. Chevron Leads 3 Dividend Aristocrats Paying Up to 4% and Beating the S&P 500
• Neutral Sentiment: Chevron shut production at a U.S. Gulf platform ahead of a tropical storm, a precautionary move that may temporarily limit output but is not necessarily a long-term issue. Chevron shuts production at U.S. Gulf platform ahead of tropical storm
• Neutral Sentiment: TD Cowen raised Chevron’s price target to $200 from $197 while keeping a hold rating, suggesting modest upside but not a major change in sentiment. Chevron price target raised by TD Cowen
• Negative Sentiment: One warning sign is that some strategists see a possible China demand slowdown and falling crude imports as a threat to the recent oil-driven rally later this year. Chevron’s Biggest Stock Rally Since 2022 Faces a China-Sized Problem

Insider Activity at Chevron

In other news, Director John B. Hess sold 380,000 shares of the company’s stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $193.20, for a total value of $73,416,000.00. Following the transaction, the director owned 278,045 shares of the company’s stock, valued at approximately $53,718,294. This represents a 57.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.56% of the stock is owned by company insiders.

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.