Burney Co. Reduces Position in Chevron Corporation $CVX

Burney Co. trimmed its holdings in Chevron Corporation (NYSE:CVX) by 42.3% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 11,703 shares of the oil and gas company’s stock after selling 8,587 shares during the quarter. Burney Co.’s holdings in Chevron were worth $2,421,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the business. Midwest Capital Advisors LLC bought a new stake in shares of Chevron in the first quarter worth approximately $25,000. Core Wealth Advisors LLC purchased a new stake in Chevron in the fourth quarter worth approximately $26,000. Phillip James Consulting Co. bought a new stake in Chevron in the 4th quarter worth approximately $26,000. Basso Capital Management L.P. bought a new stake in Chevron in the 4th quarter worth approximately $27,000. Finally, Karpus Management Inc. purchased a new stake in Chevron during the 4th quarter valued at $27,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Scotiabank raised their price target on Chevron from $168.00 to $187.00 and gave the stock a “sector perform” rating in a research note on Wednesday, April 22nd. Royal Bank Of Canada reiterated an “outperform” rating and set a $220.00 price objective on shares of Chevron in a research report on Tuesday, May 5th. Wells Fargo & Company increased their target price on Chevron from $204.00 to $222.00 and gave the company an “overweight” rating in a report on Thursday, April 9th. Zacks Research downgraded Chevron from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 8th. Finally, TD Cowen upped their price target on shares of Chevron from $204.00 to $205.00 and gave the company a “hold” rating in a research report on Friday, May 8th. Nineteen equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Chevron has a consensus rating of “Moderate Buy” and a consensus target price of $205.71.

Chevron News Summary

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Wolfe Research upgraded Chevron to Outperform, citing a stronger cash-flow outlook tied to the company’s expanding Guyana development and other long-term growth projects. This Analyst Just Upgraded Chevron Stock. Here's Why.
• Positive Sentiment: Investors are also viewing Chevron more favorably after recent coverage highlighted strengthening fundamentals, better project execution, and the company’s cash-generation potential from Guyana and gas-fired power deals. Should Chevron’s (CVX) Index Exit and Guyana Upgrade Reframe How Investors View Its Cash-Flow Story?
• Neutral Sentiment: Broader energy-sector commentary says oil is trading well below the $100 threshold, with OPEC production increases and recession concerns weighing on crude prices; that creates uncertainty for Chevron’s near-term earnings outlook. Oil’s $100 Threshold: What It Means for Energy Stocks Now
• Negative Sentiment: Political pressure is also building, with criticism from the Trump administration and California Gov. Gavin Newsom over gasoline prices and Big Oil’s pricing power, which could keep sentiment around Chevron cautious. Big Oil's Windfall Earnings Threaten to Reignite Trump's Price-Gouging Push Gavin Newsom Slams Chevron, Says Gas Prices Still 'Elevated' Due to Trump's 'Reckless' Iran War

Chevron Price Performance

Shares of Chevron stock opened at $173.96 on Wednesday. The company has a market capitalization of $346.46 billion, a price-to-earnings ratio of 30.15, a PEG ratio of 0.56 and a beta of 0.50. The company has a quick ratio of 0.84, a current ratio of 1.09 and a debt-to-equity ratio of 0.21. The stock’s 50-day simple moving average is $182.69 and its 200-day simple moving average is $180.94. Chevron Corporation has a 52 week low of $146.49 and a 52 week high of $214.71.

Chevron (NYSE:CVX) last issued its earnings results on Friday, May 1st. The oil and gas company reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.41. The company had revenue of $47.56 billion for the quarter, compared to the consensus estimate of $51.86 billion. Chevron had a return on equity of 6.90% and a net margin of 5.79%.During the same quarter last year, the company earned $2.18 EPS. The firm’s quarterly revenue was up 2.1% on a year-over-year basis. As a group, analysts expect that Chevron Corporation will post 15.52 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Tuesday, May 19th were issued a dividend of $1.78 per share. This represents a $7.12 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date of this dividend was Tuesday, May 19th. Chevron’s dividend payout ratio (DPR) is 123.40%.

Insider Activity

In related news, Director John B. Hess sold 380,000 shares of the firm’s stock in a transaction on 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 transaction, the director directly owned 278,045 shares of the company’s stock, valued at approximately $53,718,294. This trade represents a 57.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.56% of the stock is currently owned by insiders.

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.