Chevron Corporation $CVX Shares Sold by Van ECK Associates Corp

Van ECK Associates Corp lessened its holdings in Chevron Corporation (NYSE:CVX) by 4.2% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 298,586 shares of the oil and gas company’s stock after selling 12,957 shares during the period. Van ECK Associates Corp’s holdings in Chevron were worth $46,367,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of CVX. Decker Retirement Planning Inc. acquired a new position in Chevron during the 3rd quarter worth $34,000. Vermillion & White Wealth Management Group LLC raised its position in Chevron by 86.1% in the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 255 shares of the oil and gas company’s stock valued at $37,000 after purchasing an additional 118 shares in the last quarter. Marquette Asset Management LLC purchased a new position in shares of Chevron in the 3rd quarter valued at about $41,000. Barnes Dennig Private Wealth Management LLC grew its position in shares of Chevron by 306.1% during the third quarter. Barnes Dennig Private Wealth Management LLC now owns 268 shares of the oil and gas company’s stock worth $42,000 after buying an additional 202 shares in the last quarter. Finally, Traub Capital Management LLC acquired a new position in shares of Chevron during the second quarter worth about $46,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Stock Performance

Shares of CVX opened at $191.73 on Thursday. The company has a market capitalization of $382.57 billion, a price-to-earnings ratio of 28.79, a price-to-earnings-growth ratio of 1.87 and a beta of 0.67. Chevron Corporation has a 52-week low of $132.04 and a 52-week high of $192.41. The company has a quick ratio of 0.86, a current ratio of 1.15 and a debt-to-equity ratio of 0.21. The stock has a 50 day moving average price of $175.61 and a 200 day moving average price of $161.50.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, January 30th. The oil and gas company reported $1.52 earnings per share for the quarter, topping analysts’ consensus estimates of $1.44 by $0.08. Chevron had a net margin of 6.51% and a return on equity of 7.89%. The company had revenue of $45.79 billion for the quarter, compared to analysts’ expectations of $48.18 billion. During the same quarter last year, the company earned $2.06 earnings per share. The firm’s revenue for the quarter was down 10.2% on a year-over-year basis. Research analysts predict that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 10th. Investors of record on Tuesday, February 17th were given a $1.78 dividend. This represents a $7.12 dividend on an annualized basis and a yield of 3.7%. This is a boost from Chevron’s previous quarterly dividend of $1.71. The ex-dividend date of this dividend was Tuesday, February 17th. Chevron’s dividend payout ratio is presently 106.91%.

Insider Transactions at Chevron

In other news, insider Alana K. Knowles sold 2,408 shares of the business’s stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $183.28, for a total value of $441,338.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider R. Hewitt Pate sold 47,200 shares of the company’s stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $192.12, for a total value of $9,068,064.00. Following the completion of the sale, the insider directly owned 8,558 shares of the company’s stock, valued at approximately $1,644,162.96. This trade represents a 84.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 1,099,397 shares of company stock valued at $196,196,468 over the last quarter. 0.21% of the stock is owned by corporate insiders.

Chevron News Summary

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron is advancing a portfolio reshuffle including a Texas strategic move and major projects that analysts say improve valuation and operational focus — a structural story that supports longer?term upside. Chevron Reshapes Global Portfolio And Valuation With Texas Move And Projects
• Positive Sentiment: Reports say Chevron (with Shell) is close to major oil production deals in Venezuela — reopening Venezuela could add material future volumes and cash flow if agreements are finalized. Chevron, Shell near first big oil production deals in Venezuela since Maduro’s capture – Reuters
• Positive Sentiment: Dividend support: Chevron paid a $1.78 quarterly dividend (a 4% raise), continuing a long streak of dividend growth—this underpins demand from income?oriented investors. Chevron Pays $1.78 Dividend Today Backed by 39 Years of Unbroken Growth
• Positive Sentiment: Commercial wins and bidding activity (top spender at a Gulf of Mexico lease sale) signal continued investment in upstream optionality and reserve replacement. BP, Chevron are top spenders at small US Gulf of Mexico oil and gas auction
• Neutral Sentiment: IEA announced a record coordinated release of reserves but crude prices climbed anyway because Strait of Hormuz tensions raised supply?risk — this keeps short?term volatility high and makes energy names reactive to headlines. The IEA to Release Record Amount of Oil From Reserves. Why Crude Prices Are Higher.
• Negative Sentiment: Political move to tap the U.S. Strategic Petroleum Reserve (announced by the President) is bearish for oil prices if implemented — that prospect can cap oil upside and weigh on integrated producers. Iran war: Trump says he’ll tap Strategic Petroleum Reserve to cut energy costs
• Negative Sentiment: Insider selling: a senior Chevron insider disclosed multiple recent sales (most recently ~47,200 shares), which some investors interpret as a cautionary sign even though sales can be routine or for diversification. SEC Form 4 – R. Hewitt Pate insider sale
• Negative Sentiment: Rapid headline?driven swings (false/mixed government posts, talk of quick conflict resolution) have produced profit?taking episodes that can push CVX below broader indices on down days. Chevron (CVX) Falls More Steeply Than Broader Market: What Investors Need to Know

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on CVX. Bank of America raised their target price on shares of Chevron from $188.00 to $206.00 and gave the company a “buy” rating in a report on Monday, March 2nd. Freedom Capital cut shares of Chevron from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 6th. Scotiabank reissued a “sector perform” rating and issued a $168.00 price objective on shares of Chevron in a research report on Friday, January 16th. Citigroup lifted their price objective on shares of Chevron from $179.00 to $210.00 and gave the stock a “buy” rating in a research report on Monday, March 2nd. Finally, Morgan Stanley lowered their target price on shares of Chevron from $180.00 to $174.00 and set an “overweight” rating for the company in a research note on Friday, January 23rd. Thirteen investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $178.95.

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.