Inspire Trust Co. N.A. Has $11.20 Million Position in Chevron Corporation $CVX

Inspire Trust Co. N.A. lifted its position in shares of Chevron Corporation (NYSE:CVX) by 14.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 73,500 shares of the oil and gas company’s stock after acquiring an additional 9,000 shares during the period. Chevron makes up approximately 1.8% of Inspire Trust Co. N.A.’s portfolio, making the stock its 10th largest position. Inspire Trust Co. N.A.’s holdings in Chevron were worth $11,202,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of Chevron by 17.9% in the 3rd quarter. Vanguard Group Inc. now owns 183,790,028 shares of the oil and gas company’s stock worth $28,540,753,000 after purchasing an additional 27,961,463 shares in the last quarter. State Street Corp increased its holdings in shares of Chevron by 9.1% in the 3rd quarter. State Street Corp now owns 152,605,988 shares of the oil and gas company’s stock worth $23,698,184,000 after purchasing an additional 12,789,399 shares in the last quarter. Primecap Management Co. CA bought a new stake in shares of Chevron in the 3rd quarter worth $988,083,000. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Chevron by 822.0% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 6,211,258 shares of the oil and gas company’s stock worth $946,658,000 after purchasing an additional 5,537,580 shares in the last quarter. Finally, Amundi increased its holdings in shares of Chevron by 41.8% in the 3rd quarter. Amundi now owns 11,760,376 shares of the oil and gas company’s stock worth $1,811,333,000 after purchasing an additional 3,464,058 shares in the last quarter. Institutional investors own 72.42% of the company’s stock.

More Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron CEO Mike Wirth said oil prices could rise further if Middle East tensions continue to disrupt supply, with the Strait of Hormuz blockade reducing global barrels and tightening market “shock absorbers.” Higher oil prices typically improve upstream earnings for Chevron. Chevron CEO Wirth warns oil prices likely to rise as Iran war hits supplies
• Positive Sentiment: Chevron filed to take control of an offshore Greek gas block, expanding its Mediterranean footprint and adding another potential long-term gas growth avenue. Chevron files request to acquire offshore Greek block, energy ministry says
• Positive Sentiment: Chevron also highlighted stronger gas demand linked to data-center power needs, reinforcing the company’s outlook for natural gas as a key growth driver. Chevron Highlights Stronger Coal Consumption Outlook
• Neutral Sentiment: Chevron shareholders rejected a proposal to separate the board chair and CEO roles, which removes one governance overhang but is unlikely to be a major near-term stock driver. Chevron shareholders reject proposal that requires independent board chair separate from CEO role
• Neutral Sentiment: A proposed U.S. bill to temporarily cut fuel taxes could affect gasoline demand and pricing dynamics for Chevron, but it is only a proposal and not yet law. New Bill: Representative Anna Paulina Luna introduces H.R. 8795: American Families Gas Tax Relief Act

Analysts Set New Price Targets

A number of research firms have commented on CVX. Barclays lifted their target price on Chevron from $192.00 to $213.00 and gave the stock an “equal weight” rating in a report on Tuesday. Morgan Stanley lifted their target price on Chevron from $212.00 to $214.00 and gave the stock an “overweight” rating in a report on Friday, May 22nd. Citigroup raised their target price on shares of Chevron from $210.00 to $235.00 and gave the stock a “buy” rating in a report on Thursday, April 2nd. Wells Fargo & Company boosted their target price on shares of Chevron from $204.00 to $222.00 and gave the company an “overweight” rating in a research note on Thursday, April 9th. Finally, TD Cowen boosted their target price 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. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $205.70.

Insider Buying and Selling at Chevron

In other news, insider R. Hewitt Pate sold 58,000 shares of Chevron stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $188.65, for a total transaction of $10,941,700.00. Following the transaction, the insider owned 8,558 shares in the company, valued at $1,614,466.70. This trade represents a 87.14% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Vice Chairman Mark A. Nelson sold 139,600 shares of Chevron stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $187.92, for a total transaction of $26,233,632.00. Following the transaction, the insider owned 11,337 shares in the company, valued at $2,130,449.04. This represents a 92.49% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 1,144,224 shares of company stock worth $218,075,038. Insiders own 0.56% of the company’s stock.

Chevron Price Performance

Shares of CVX opened at $183.24 on Friday. The firm has a market cap of $364.93 billion, a PE ratio of 31.76, a P/E/G ratio of 0.60 and a beta of 0.51. The company has a current ratio of 1.09, a quick ratio of 0.84 and a debt-to-equity ratio of 0.21. The firm has a fifty day simple moving average of $192.60 and a two-hundred day simple moving average of $175.64. Chevron Corporation has a 1-year low of $135.21 and a 1-year high of $214.71.

Chevron (NYSE:CVX) last announced 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 business had revenue of $47.56 billion during the quarter, compared to analyst estimates of $51.86 billion. Chevron had a net margin of 5.79% and a return on equity of 6.90%. The company’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same period in the previous year, the business earned $2.18 EPS. On average, equities analysts anticipate that Chevron Corporation will post 15.74 EPS for the current year.

Chevron Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Shareholders of record on Tuesday, May 19th will be paid a dividend of $1.78 per share. The ex-dividend date is Tuesday, May 19th. This represents a $7.12 dividend on an annualized basis and a yield of 3.9%. Chevron’s payout ratio is currently 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.