Weiss Asset Management LP Makes New Investment in Chevron Corporation $CVX

Weiss Asset Management LP purchased a new position in shares of Chevron Corporation (NYSE:CVX) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 5,355 shares of the oil and gas company’s stock, valued at approximately $1,108,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CVX. Midwest Capital Advisors LLC acquired a new position in shares of Chevron during the first quarter worth about $25,000. Core Wealth Advisors LLC purchased a new stake in shares of Chevron during the fourth quarter worth approximately $26,000. Phillip James Consulting Co. acquired a new stake in Chevron in the fourth quarter valued at approximately $26,000. Basso Capital Management L.P. acquired a new stake in Chevron in the fourth quarter valued at approximately $27,000. Finally, Karpus Management Inc. purchased a new position in Chevron in the fourth quarter worth approximately $27,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Insider Activity

In other news, Director John B. Hess sold 380,000 shares of Chevron stock in a transaction dated Wednesday, May 20th. The shares were 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. The trade was a 57.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.56% of the stock is owned by corporate insiders.

Trending Headlines about Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron raised its quarterly dividend, extending its decades-long streak of dividend increases and reinforcing its appeal to income-focused investors. Chevron lifts quarterly dividend
• Positive Sentiment: A Chevron subsidiary awarded Velesto a multiyear, $51 million drilling contract for the North Malay Basin gas development in Malaysia. The agreement supports Chevron’s offshore growth plans, although its direct financial impact is likely modest relative to the company’s overall scale. Chevron North Malay Basin contract
• Neutral Sentiment: CEO Mike Wirth reportedly met with U.S. officials about protecting Chevron’s Kazakhstan oil assets from becoming entangled in the Russia-Ukraine war. The discussions highlight the strategic importance of the assets but also underscore geopolitical and regulatory risks. Chevron Kazakhstan assets discussions
• Negative Sentiment: Brent crude settled 12% lower at $86.49 per barrel, while West Texas Intermediate fell 7.5% to $82.61, after President Trump suggested a potential breakthrough with Iran. Lower oil prices can pressure Chevron’s upstream revenue, cash flow and earnings expectations. Oil prices slide on Iran negotiations
• Negative Sentiment: The broader energy sector also declined as crude prices weakened, while investors favored technology and AI-related stocks ahead of major earnings reports. This sector rotation added to selling pressure on Chevron. Energy sector update

Analyst Ratings Changes

CVX has been the topic of a number of recent analyst reports. Citigroup increased their price objective on shares of Chevron from $210.00 to $235.00 and gave the company a “buy” rating in a research report on Thursday, April 2nd. UBS Group restated a “buy” rating on shares of Chevron in a research note on Tuesday, June 23rd. BNP Paribas Exane upgraded shares of Chevron from a “neutral” rating to an “outperform” rating and set a $174.00 target price for the company in a report on Friday, April 17th. Scotiabank increased their target price on shares of Chevron from $168.00 to $187.00 and gave the company a “sector perform” rating in a research report on Wednesday, April 22nd. Finally, Morgan Stanley decreased their price objective on shares of Chevron from $214.00 to $210.00 and set an “overweight” rating for the company in a research note on Monday, June 29th. Nineteen analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $205.17.

Chevron Stock Performance

NYSE CVX opened at $189.84 on Tuesday. Chevron Corporation has a fifty-two week low of $146.49 and a fifty-two week high of $214.71. The stock has a market cap of $378.09 billion, a price-to-earnings ratio of 32.90, a price-to-earnings-growth ratio of 0.65 and a beta of 0.50. The business has a fifty day moving average of $181.99 and a 200-day moving average of $184.20. The company has a quick ratio of 0.84, a current ratio of 1.09 and a debt-to-equity ratio of 0.21.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, May 1st. The oil and gas company reported $1.41 EPS for the quarter, beating analysts’ consensus estimates of $1.00 by $0.41. The business had revenue of $47.56 billion for the quarter, compared to analyst estimates of $51.86 billion. Chevron had a return on equity of 6.90% and a net margin of 5.79%.The business’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter last year, the company earned $2.18 earnings per share. As a group, analysts predict that Chevron Corporation will post 15.6 earnings per share for the current fiscal year.

Chevron Announces Dividend

The company also recently announced 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 was Tuesday, May 19th. Chevron’s dividend payout ratio is 123.40%.

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.