Pacific Heights Asset Management LLC Purchases 65,000 Shares of Chevron Corporation $CVX

Pacific Heights Asset Management LLC boosted its position in shares of Chevron Corporation (NYSE:CVX) by 31.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 275,000 shares of the oil and gas company’s stock after acquiring an additional 65,000 shares during the quarter. Chevron accounts for 1.6% of Pacific Heights Asset Management LLC’s portfolio, making the stock its 14th biggest holding. Pacific Heights Asset Management LLC’s holdings in Chevron were worth $41,913,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of Chevron by 17.9% during the 3rd quarter. Vanguard Group Inc. now owns 183,790,028 shares of the oil and gas company’s stock valued at $28,540,753,000 after purchasing an additional 27,961,463 shares during the last quarter. State Street Corp boosted its holdings in shares of Chevron by 9.1% in the third quarter. State Street Corp now owns 152,605,988 shares of the oil and gas company’s stock worth $23,698,184,000 after buying an additional 12,789,399 shares during the last quarter. Northern Trust Corp grew its position in Chevron by 15.3% during the third quarter. Northern Trust Corp now owns 22,724,515 shares of the oil and gas company’s stock valued at $3,528,890,000 after buying an additional 3,007,403 shares during the period. Fisher Asset Management LLC increased its holdings in Chevron by 1.6% during the third quarter. Fisher Asset Management LLC now owns 21,152,060 shares of the oil and gas company’s stock valued at $3,284,704,000 after buying an additional 325,255 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in Chevron by 27.9% during the third quarter. Bank of New York Mellon Corp now owns 19,627,146 shares of the oil and gas company’s stock valued at $3,047,900,000 after buying an additional 4,279,918 shares during the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on CVX shares. Royal Bank Of Canada reiterated an “outperform” rating and set a $220.00 price target on shares of Chevron in a research note on Tuesday, May 5th. Morgan Stanley upped their price objective on Chevron from $174.00 to $212.00 and gave the stock an “overweight” rating in a research note on Friday, March 27th. Barclays lifted their target price on Chevron from $180.00 to $192.00 and gave the company an “equal weight” rating in a research report on Monday, May 4th. Argus set a $203.00 price target on Chevron in a report on Tuesday, February 3rd. Finally, Sanford C. Bernstein reduced their price target 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. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $204.13.

Chevron News Roundup

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron agreed to sell its Singapore refining stake and other Asia-Pacific downstream assets to ENEOS for roughly $2.17 billion, reinforcing its strategy to streamline the portfolio and potentially improve returns. Reuters article on ENEOS buying Chevron assets
• Positive Sentiment: Another report framed Chevron’s recent earnings as less weak than the headline numbers suggested, noting that the company’s share price did not fall sharply after the results, which may indicate investors are focusing on underlying cash generation and strategic actions rather than the revenue miss. Yahoo Finance article on Chevron earnings
• Neutral Sentiment: Market commentary this week also compared Chevron with TotalEnergies and discussed broader oil-sector themes, but those pieces were more about sector positioning than a direct new fundamental change for Chevron. Motley Fool comparison article
• Negative Sentiment: Chevron’s latest quarter was mixed, with earnings per share beating estimates but revenue coming in below expectations, which could temper enthusiasm if investors refocus on operating performance rather than asset sales. Chevron stock background

Chevron Stock Performance

Shares of NYSE CVX opened at $190.91 on Monday. The stock has a market cap of $380.22 billion, a PE ratio of 33.09, a price-to-earnings-growth ratio of 0.64 and a beta of 0.51. Chevron Corporation has a 1 year low of $133.77 and a 1 year high of $214.71. The firm has a fifty day moving average price of $193.14 and a 200-day moving average price of $173.38. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.09 and a quick ratio of 0.84.

Chevron (NYSE:CVX) last released its earnings results on Friday, May 1st. The oil and gas company reported $1.41 earnings per share for the quarter, beating analysts’ consensus estimates of $1.00 by $0.41. The company had revenue of $47.56 billion for the quarter, compared to analysts’ expectations of $51.86 billion. Chevron had a net margin of 5.79% and a return on equity of 6.90%. Chevron’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.18 EPS. Equities analysts anticipate that Chevron Corporation will post 15.43 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Tuesday, May 19th will be given a $1.78 dividend. This represents a $7.12 annualized dividend and a dividend yield of 3.7%. The ex-dividend date is Tuesday, May 19th. Chevron’s payout ratio is presently 123.40%.

Insiders Place Their Bets

In other news, insider R. Hewitt Pate sold 58,000 shares of the company’s stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $188.65, for a total value of $10,941,700.00. Following the completion of the transaction, the insider owned 8,558 shares of the company’s stock, valued at $1,614,466.70. This represents a 87.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Vice Chairman Mark A. Nelson sold 139,600 shares of Chevron stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $187.92, for a total value of $26,233,632.00. Following the sale, the insider directly owned 11,337 shares in the company, valued at $2,130,449.04. This trade represents a 92.49% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 803,570 shares of company stock valued at $151,969,798. Insiders own 0.56% of the company’s stock.

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.